and what about oscar munoz?have said they are not out to take oscar munoz' power away, and he has been on the job for six months, and because of the heart transplant and other problems, he has not been in the office day-to-day for the last month or so, and he is going to defer to adding the chairman of the board role until the annual meeting in 2018. by the way, oscar munoz is going to be joining us tomorrow mor g morning here on cnbc and you do not want to miss this interview. squawk on the street, and president of united airlines oscar munoz, and by the way, it is also earnings day for them. they will report after the bell today, and the expectation is for earnings of $# 1.18 a share, and the thing that people are going to be focused on is what is the outlook in terms of reven revenue. and they need a lot of pressure on revenue, and we will see what the company has to say about not only the first quarter, but the remainder of the year. >> yes, we will look forward to that and the big interview tomorrow. thank

good ever happens, then you will see number go through, which is why united is interesting and as oscar munoz. because they don't have it yet. >> they do have passenger revenue, miles down. >> munoz has been dealt a bad hand. hooves dealt a double bad hand. meet immediately he has a heart transplant, fortunately successful, he has a successful challenge to him from people from the outside out of nowhere. do people want that? no. they wouldn't want southwest. >> revenue growth is strong. i don't know what the stock is doing. i think in the early going it was looking up. >> this is an earnings period where i think people are completed confounded. arguably the weakest banks bank america in terms of numbers. that stock sits best in terms of percentage. >> all right, so you're making the point which is people are going for the worst, hoping they go from worst to first -- >> yes, freeport every day. a lot of this is because people feel we got some edge, we got oil. underarmor is saying kevin klein, the first quarter equals all of china. steph curry. you think he's big here? you think he's big here?

so oscar munoz could be albert einstein. but with the reaction that investors and passengers had to a former lawyer, jeff smiseck now a train guy coming in, why can't united fill this role with somebody who is actually, you know, a lifetime airport or airline employee? >> i think that was one of the concerns that both of them had. he was left alone because the board itself had no airline experience. this remedies that. oscar is a very likeable person who will humanize the management which i think needs to happen at united. and there are people in the company that just need to be able to do their job and i think we're going to get that. the right metrics will be measured and the right outcomes will occur. >> gordon, it's michelle here. you're supposed to be on the board i thought. that is part of the whole pitch with him. what happened? >> i think they used me as a credible alternative. they illustrate they really need someone of my background and experience. united picked two other people the night before that had similar ba

. >> reporter: the pilots' support of united ceo oscar munoz comes one month after he returned to work following a heart transplant. as he went back to work full time, two hedge funds which own a little more than 7% of the airline, went to work on a proxy battle to remake united's board of directors. the hedge funds believe united's directors have let the airline lag behind competitors while the industry has soared to record profits. their s.an, put former continental ceo gordon bethune and five others on united's board in hopes they can boost the airline's performance. the pilots believe united is improving under munoz which is quite a statement since united and its labor unions have had a bumpy relationship for years. when asked about united employees picketing, a spokesperson for one hedge fund said "we have deep appreciation for all the employees of united. however, under this board of directors, employees, customers, and owners have suffered. we will support oscar and a new board to make the changes necessary to put united back on top." unless the hedge funds and united's leadersh

and tomorrow oscar munoz 9:00 a.m. eastern time. do not want to miss that. >>> welcome back to "squawk on the street." i'm here at post five where shares of coca-cola trade. and as you can see they are down sharply lower down 5% all the way at the bottom of the spite of -- s&p 500. reporting declined revenues amid weaker demand for soda and currency pressures abroad. joining us now straight off the call first on cnbc is james quincey, he is the c.o.o. and number two at coca-cola. james, welcome back to the show. >> thank you. nice to be back. >> coke's having a rough day, worst day since back in 2014 at the bottom of the s&p as i mentioned. are you surprised to see the sharp reaction? there was a high bar going in with the stock outperforming, but this is a pretty brutal reaction here. >> look, no one wants to see their stock go down, as you say we've had a runup over the recent months. i think what's important about this quarterly announcement is it's another step forward in a journey we set out on at the end of 2014 with the five

tomorrow morning, "squawk on the street" is going to have rt first interview with united's ceo oscar munozonly been on the job day-to-day for the last month. "squawk on the street," you don't want to miss it. he'll talk about earnings and what's going on with the board. back to you. >> that will be a good one. phil lebeau, thank you. pete, long ual, what are you looking for? >> looking for upside in there. >> this is exactly what everybody was afraid of. >> this is the laggards. delta and american outpaced united over the past few years. you look at this name and i think some of the moves today, some of those board moves today, that they've made, some of the activists got a couple of seats. they didn't get all six, they got two. i think that's going to change things. there's more expertise on the board now. >> does that increase demand? >> i don't know. but i think the problem is, by the way, i think that some of the discounting, i think some of these guys have made huge mistakes along the way. when i travel, every flight is still full, and i travel a lot. >> when you look at who's outperf

tomorrow on "squawk on the street" don't miss the exclusive interview with ceo oscar munoz since hisin january. that's tomorrow at 9:00 eastern. what do you make in the 7% drop? >> certainly, i'm not to blame for that. i'm doing my part keeping united flying the friendly skies. i don't think this is really the focus for united. they have made a big announcement with the shift in the board. i think everybody is looking at what's next for united and can they change the dynamic. i know from an internal standpoint, everybody is very excited with oscar getting back involved with compete. so, i think there's a lot of good expectations going forward. >> i think industrywide, you're stealing with this idea has passenger miles peaked. you look at it cosmetically, all of the stocks look relatively ship. delta is even cheaper. the question is do you buy a deep cyclical stock when -- >> i think the whole industry is going towards finding different ways to generate revenue from ancillary services some of the things we're used to being bundled in. but just other ancillary bundled in things. like c

oscar munoz is out today buyi 20,000 shares.t works out to a million dollars that he's putting into company shares betting on the idea they're going to go higher from here. remember, they traded lower today because people are looking at them lowing passenger revenue not only this quarter but maybe perhaps in the third and fourth quarter. he made a big purchase of united shares. >> thank you, phil. we're reminded of the jamie diamond move similarly. >> jamie did a little more scale. like 20 times bigger. okay. >> in the case of the signaling mechanism, would you read into that that maybe, you know, same kind of clarity from a ceo saying the market got it wrong? >> similar, the backdrop being you had an activist situation. al the ceo wanting to maybe assert he believes in the company. >> blackrock ishares group is ringing today's closing bell. highlighting the company's low carbon footprint. women and millennials have been their biggest investors. joining us now is the global head of blackrock. earth day is every day for you? >> e

this hour an exclusive with united airlines ceo oscar munoz, his first since undergoing a heart transplantest day of earnings season so far, oils pretty steady. we are now on the june contract. verizon's profit in line, travelers with a miss and