this morning newell brand announced an agreement with starboard. and also nominating one of starboard's candidates the stock market didn't seem to care about this development. i don't know why i think it is a game changer brought in and friendly consensual way without the ranker and the drama the stock might be worth buying. last week i told you that i am a big believer in starboard. the problem is some of the board nominees dropped out so even if starboard had won the proxy fight, still only control four seats out of 11 that would have been a pure victory. given the contentious nature they would be frozen out however, now that the proxy fight has been revolved amicably, i like it. and when starboard is in position to do such a thing, their track record is darn good. tremendous success with darden, marvel technology and integrative technology we own shares in darden and we have been recommending to you marvel and iti we like starboard. for starters remember that deal management made with carl psyic that we didn't like. and the final one went to his

three of the directors have now reconsidered and rather than trying to take over newell, calling newell's words, everybody else who is in there got stuck. a vote for ikon candidates is a double -- look, i think starboard's candidate would be good for the business. if heaven for bid, still owned however, i think that is the wrong question entirely. you need to take a step back and ask yourself is it worth being involved in the brand. i think the next quarter is going to be a doozy. what if they are both wrong? first they keep arguing the stock is under valued. that is a mighty big if. i don't have a lot of confidence over the forecast. mike polk has been a disappointment in ceo. and look, it is not like this is a great retail landscape for newell, it is not their time they sell tons of stuff to toys "r" us which is going under. they had a big fight with office depot. second, newell's other saving grace is dividend. 3.75 yield if the next quarter is horrendous, i bet people would start questioning it too both sides here have embraced the idea of asset sales. basically the plan is to undue t

>>> we are focused on newell this morning it started up. news of a settlement in what, well, some of us were looking forward to a heated battle between carl icahn and starboard's jeff smith. it kind of happened, but they reached a settlement which is most likely for the good of the company and its shareholders we spoke to jeff smith last week about the prospects of a settlement here's what he had to say. >> in terms of a settlement, if we were to do that, it's really both you need it with the company and icahn because he has an agreement. >> right >> but as we talked about before, that means it's just with icahn because he's pretty much if not controlling, heavily influencing the company which is what makes everybody uncomfortable. >> that made mr. smith uncomfortable. he'd been recommending four directors for the board. icahn got five appointed almost immediately. showing up with 5% of the stock. that gave mr. smith some pause the two were potentially at each other but reached a settlement under which lopez, steele and bridget ryan burman

>> newell is a great company which needs change.s, the employees, board members all deserve better than what has happened at the company. certainly that was the contest that we thought would have been best for the company and shareholders. it's not where we are right now. martin has been a good friend and good adviser. >> do you think you would be there regardless of whether martin had sort of brought the idea to you but certainly felt as though he was shopping the idea to a number of activists. >> so martin did not bring the idea to us. it was a company we felt needed a change in leadership. in order for it to be investable one key was finding an operator that we felt could operate the business better. i called martin after he resigned and had a conversation with him and really had a good dialogue around the operational improvements that were necessary at the company and available to the company. having him as a part of our slate gave us confidence, as well. >> why do you continue to have confidence given he is no longer a part of

it kills a lot of things >> jay >> newel brands. >> it kills newel brands >> no, we have not talked aboutt >> even carl changed the board. remember martin franklin came out and it was apart of their thing. >> i thought he was happy. >> oh, i am not interested anymore. >> he was happy. >> this team is no longer apart of the fight even with the new board in place, newell, they already have eight directors. >> newell, they sell a lot for toys r' us . that was bad the problem there is earnings. >> yeah. >> yeah, mike polk, he's got it down three times when martin says we got the director and we'll sell a lot more to fix the balance sheet which by the way is not a great balance sheet. >> i have not heard from jeff smith for star board in terms of what the plan is >> jim, our buddy writes the half-life of trade scare is getting shorter and shorter. would we see more good cop action today from mnuchin? >> i wish i were not mnuchin and kudlow i have to come out and say negotiations yeah, the president did not like that the chinese made fun of him and said they got the best of him. he goes to 100

newell's long the legendary swedish trombone player also known as mr red horn for obvious reasons. the contour of love but i'm the kind of my heart before my hats. the grin that is one of the most sought after jazz musicians in europe he's now sixty two and plays up to two hundred concerts a year he's a truly prolific performers involved in a range of projects. decimation such as for me as a music form but is constantly changing and on the move we improvise alone which is a crucial part of john's it gives you this amazing freedom which does bring with it responsibility. for to. work as a producer and director of festivals has given him additional. sides. seem to feel if you know if i like how there are more female artists emerging jazz patriarchy will not last forever and rightly siva by who and so most of this is a development that will benefit all of us and the newer ones i look good to and. the current project called susskind is part of the positive development here they're rehearsing before a concert one of the trio is currently out sick so the other two are rearranging the pro

james and lisa newell feel lucky their home is still standing. >> everything was on fire all around here. >> everything was on fire. everything was aglow ember and our balance is still standing. >> reporter: the fire, the biggest so far, burning more than 283,000 acres. one of the big problems are these cedar trees. you see how quickly that has burned here right behind me. firefighters say they burn extremely violently. wind gusts of 30 miles an hour helping spread those burning embers. david, firefighters are calling this fire epic, as they deal with historically bad conditions, these high winds and extreme drought. people i spoke with said they're just holding on until this weekend, when the rains come. david? >> kayna, our thanks to you. >>> meantime, hawaii is bracing for more flash floods tonight, after torrential rains and rescues already. and word tonight that famous surfer laird hamilton has rescued many. here's abc's whit johnson. >> reporter: tonight, bracing for round two. more torrential rain set to batter hawaii, the fear of roads once again transforming into rushing rivers.

we also hear from newell brands. the stock has bottomed and came out with aggressive quarter. i don't want to be too wishy washy, but i recommend to buy ahead of the quarter if you look at what was working today and what wasn't, it is clear a new consensus starts to emerge wall street thinks -- global economy to a screeching halt anything is possible these days. look out for buying opportunities in weakness even when you need to be prepared to sell in the strange as the so-called macro environment remains worrisome and uncertainty. matt in new hampshire. >> how is it going >> some of the best stock went down and some of the worst went up. >> caller: question about array bio pharma they have drugs in clinical trials partnered with some of the biggest names in bio tech. is this a good time to buy >> no. this market is being tough on the majors it is taking apart the miners if you own it, you could hold it this market has become very unkind to anything that doesn't have a huge yield. chad in massachusetts. >> caller: ba-ba-ba-booyah. >> is that spirit or what? >> caller: my quest

another large holder is larry newell and did a large part. >> yeah. >> speaking reality to ichan andth. it was clear if you don't agree, carl, you're going to lose. >> i like that green my biggest fear with newell you would have a board of hot shots and it would be distracting. so whatever turn around he's trying to do wouldn't happen and it's good to see the egos get together now, david, what i'm referring to, of course, is "when the wolves bite. >> we'll talk to him in a bit. >> to have him say his son's college mate is not going to be on the board, i think was agoo one. i'm not sure how qualified that young man would be. >> jim, back to the movers this morning. it's been awhile since i've seen verizon significantly in positive territory on a given day. it's down 6% the year. it was a good quarter. >> yeah. i think that verizon is kind of the berkshire. >> yeah. it's going to upset the president. he's not saying look i don't like verizon. >> no, he hasn't discussed verizon. >> you know verizon's moves in the future and what it chooses to do, we know it came fairly close to trying t

newell brands upgraded to outperform, analysts saying the company could take more than expected fromes. morgan stanley upgrading merck, they have a positive drug cancer trial yesterday. a lot of stock calls only 5:46. >>> let's talk more about the f.a.n.g. stocks. f facebook facing a class action lawsuit saying they illegally used facial recognition tools on photos without permission. >>> facebook is out with a new blog that explains how it could collect your data, even if you have never ever posted on facebook cnbc's arjun kharpal joins us with details you tried this out and you were spooked. >> very spooked, actually. let me run you through what facebook said in that blog post. one question last week from lawmakers was can i be tracked even if i'm not logged into facebook or never had a facebook account? the short answer is yes. if you ever liked something on a page that has the facebook like button, if you ever logged in to a page using your facebook log in or if you have been on a page that uses facebook advertising tools, the likelihood is you have had information sent back to t

they newell. they were involved in that. yet they -- he appoints mueller, his buddy investigating the uranium story to investigate trump or his administration. i mean, it's so outrageous. they knew the answer. i can tell you, i department need to sign on to a letter to find out whether or not jeff sessions knew about the raid or cohen's home. it's an outrageous raid. anybody that knows the law should be outraged. some people hate the president so much, it overwhelmed their ability to understand and know the law that they studied. i can tell you, jeff sessions didn't know and i trust my sources a lot more than any that "the washington post" or others are using. and also, "the washington post" story that sessions is going to resign if rosenstein were fired, i don't believe that. it's more manipulations from "the washington post." >> julie: jeff sessions doesn't want to go anywhere but he's saving face for rosenstein. >> jeff is a loyal guy. he was a pointed by the president but he also appointed rod rosenstein. jeff sessions d

. >>> and starboard value is seeking seats on the board of newell brands.tarboard says more work is needed to repair the maker of rubbermaid containers even after carl icahn was handed board seats. >>> coming up, a man who called the recent market slide has the next key number for you to watch as the market tries to march out of a correction. >>> and did zuckerberg get off easy in front of the senate yesterday? will the house come with tougher questions? a preview of day two of that big hearing. 5:12 we'll be back after this but i'm not standing still... and with godaddy, i've made my ideas real. ♪ i made my own way, now it's time to make yours. ♪ everything is working, just like it should ♪ ♪ ♪ wake up early, o. ♪ slap on some cologne ♪ i'm 85 and i wanna go home ♪ ♪ just got a job ♪ as a lifeguard in savannah ♪ ♪ i'm 85 and i wanna go home ♪ ♪ dropping sick beats, they call me dj nana ♪ ♪ 85 and i wanna go don't get mad. get e*trade, kiddo. you know what's not awesome? gig-speed internet. when only certain people can get it. let's fix that. let's give thi

newell rubbermaid, mel. we talked about. this he makes a very compelling case on valuation.ck has troughed in my opinion. >> don't go anywhere "mad money" with jim cramer starts right now. >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer.

ackman on bill tuesday was asked a question during a fireside chat about newell and carl icahn investinge company. ll -- hey newe said, "they made a deal with the devil. actually, i meant that -- ackman has been out of the headlines lately. he said i will be speaking less publicly, not out there waving my flag. he has gone back on that, it seems. he came out and slammed carl icahn. david: it brings a whole new meaning to proxy war. ackman does not have a dog in this fight. without fighting. >> he is saying it is a terrible deal, not what he would want. it is fascinating. he has no dog in the fight. he is just a spectator, but his staras a spectator is that wars probably has a better slate here than icahn. alix: the other story has to do with blankfein having a wonderful meeting. this has to be my favorite story. mr. blankfein is sitting down for lunch, talking about the how it encompassed both firms and how they go forward. >> they both stood their ground, by the sound of it. this is one of these gifts that keeps giving. yet than 300 of market cap, it seems to involve some of the biggest

is fully cooperating with investigators >>> and starboard value is seeking seats on the board of newell brands. the hedge fund, which owns nearly 4% of the company says more work is needed to repair the maker of rubbermaid containers even after carl icahn was handed board seats. >>> let's talk about the broader markets. joining us is ryan dietrich from lpl financial research along with james liu welcome to you both. james, yesterday we had a big rally in facebook shares into the close. this is not a small cap. this is one of the biggest companies in the market. >> this is the most interesting that we found u.s. markets in about two years. we had this volatility it created tremendous volatili y volatility we are expecting about 15% earnings growth from the technology sector this year. you think about trade wars, and our view there is that is also a short to medium term issue you're seeing the opening volley >> so people need to look past it >> yeah. >> we saw boeing and caterpillar rally yesterday. chinese president xi jinping wasn't as tough on the trade issue in his speech as people th

we're live at the nasdaq market site in times square among the stories front and center this hour, newellt will end the current proxy contest. the current board will appoint two new independent directors as well as a candidate mutually agreed upon by starboard and mr. icahn who's a major shareholder. apple offering replacement batteries. causing the built-in battery to expand however, apple adds the issue does not prevent a threat to user safety. >>> we've been focusing on the wild swings of bitcoin but cryptocurrency is averaging $7.4 billion this month. that compares to $17 billion back in december i don't know where that says we are in the crypto saga where on the roller coaster ride we live. >>> let's get another news alert right now. a reprieve from the treasury department for rusal they had been ordered to wind down dealings by may 7th now that date has been extended until october 23rd while an appeal from rusal is considered. rusal produces about 7% of the world's aluminum >>> the 10-year treasury ticking as high as 2.9972% steve leisman joins us now >> it just turned down i don't