bill pulte is the grandson of bill pulte. it is pretty jarring. welcome to the "mad money." >> to see you. this sounds like you're now in this new letter that is being released, talking about poor oversight and corporate developments. you're saying independent directors have no experience in single family home building. what happens between now and may? >> the board needs to help us out. we're the largest shareholder. we own a lot of the company. the board only owns less than 1% of the coil. we're the founding family. we think we have the west interests of the shareholders. we met with richard did you goas, privately. my grandfather was the only one who asked him privately to resign. the board came out. they came out aggressive and it is just not accurate. we need new leadership after $530 million in losses. >> again, the guy is willing to step down in may have next year. is there something so critical right now? you waited until after the centex disastrous acquisition. underperformance for a very long time. why now knowing that the guy will step

who should be running pulte homes and the pulte group from here forward? >> two gentlemen. ryan marshall should be one. he's an executive fantastic guy in charge of many divisions at pulte. also harmon smith would be a great candidate. and when mr. grosfeld went off the board it because he had been in the industry for a long period of time. this board has not had a lot of experience in home building and that's why it's a big shame to see him go and i would strongly encourage them to add him back. that's just a shame. >> what have other large shareholders told you about your attempts if you even had those conversations to this point. >> i can't talk about that but some of the biggest names in the housing industry smart, smart people called us and said con fwraj lagss. one of them even said now you're going to be a real competitor and i can tell you that i can't talk about the specifics but we're confident that if and when we need to tell the whole story we'll do it but we would like to work constructively with you. we would like to find a solution. we don't want to engage in

we're not owners of the pulte homes. investors should look at what's the business model you're buying it. if you think the stock has upside before you owned it, it's a time to add to your disposition. >> it's a very competitive market space that pulte homes occupies. do you look at the competitors and see how those stocks are doing compared to pulte given the circumstances they find themselves in. >> there's so many ways to play the housing market whether it's on the supply side a usg or a home builder like dr horton or toll brothers. you have to compare the valuation. >> what do you make of theth fa that activists investing is gaining so much traction. it's one of the major stories for the last two years. as an investor who manages other people's money, do you find it works as an advantage because in the stocks or is it a net negative? >> i think it's a double edged sword. an active investor will keep the board on its toes. once a board falls asleep at the wheel for too long, you know a someone like that can come knocki

the insults flying over who should run pulte group and who should not. the very public battle for control. and an upgrade for alphabet. why there is a rally ahead for google's parent company. i am benedict arnold, the infamous traitor. and i know a thing or two about trading. so i trade with e*trade, where true traders trade on a trademarked trade platform that has all the... get off the computer traitor! i won't. (cannon sound) mobility is very important to me. that's why i use e*trade mobile. it's on all my mobile devices, so it suits my mobile lifestyle. and it keeps my investments fully mobile... even when i'm on the move... ahhh. and it keeps my investments weinto a new american century. born with a hunger to fly and a passion to build something better. and what an amazing time it's been, decade after decade of innovation, inspiration and wonder. so, we say thank you america for a century of trust, for the privilege of flying higher and higher, together. ♪ we believe in the power of active management. anagement, we actively manage with expertise and

pulte has about 37 lots. that does look like they didn't do enough buying when the land was dirt cheap. they could boost that figure by an astounding 35% overnight by acquiring kb and its portfolio, 482, 00 lots. the combination would bring the team to the fold which is answer another criticism of the pull the family. by snapping up kb, pulte would have the scale to challenge large competitors and the two companies eeg graphic footprints are complementary as pulte knows about the east coast, kb knows about california. that's a soft spot for pulte. kb home is insanely cheap right now. i think any of the big home builders could benefit enormously by acquiring the company while the stock is still depressed but pulte home would benefit the most. i'm like a yenta or goldman. i think i'll wave my match making investment banking feel if the deal happens. good guy. much more "mad money" ahead. the third largest semi-conductor plant in the world was created but is ill still worth buying? i'll break it down. then a med

. >> they say pulte. you have to ask yourself this one question. if i didn't own the stock now,

i've been long pulte homes. people are looking for pulte to return to growth.hey floated the name of buying kb homes out of it. that's how you trade it. these stocks have moved dramatically to the upsglid haven't we said said in the past, they enacted some change when a stock is underperforming. the outcome, no matter what it is, will push the company to do something. >> yeah. listen, there are plenty of examples on both sides. qualcomm kept going lower and lower as activists pushed the last couple of years. but in this situation where you have a family member of the original founder pushing for positive change, it's probably not a bad one to get behind. >> how about the fact that phil lebeau just talking about united, that the activists want to have change. they enacted some. this isn't exactly the same, but a similar situation where they don't like the direction, and this is the underperformer in the group. so they're getting much more aggressive about this whole thing. >>> still ahead, two huge earnings out tomorrow. google and microsoft set to report after

. >> shares of pulte have been flat, and been in focus. >> so an ally of bill pulte who was calling foration resigned? >> i don't know if it's tradeable espent. it seems like a back gonchacy event. >> for a wlong time? >> i've been toe -- i was just trying to make a call for a sector. again it's a function of whether it's supply or demand. a lot of these guys are in positions where it's not any supply. the valuations are not bad. we're at peak -- >> housing hasn't -- by wee don't they have better? the results are not particularly good. i have to think that home builders are not far behind? >> i think about the fact that lending has not gone back to the place where it was? >> to be pulled through the system, but they're not going to ratchet growth. i think they're trading at multiples. let's look at special pharma. plunging to the tune of 26%, this after announcing guidance would come in far below the street's estimate. it really goes beyond that. it's a large percentage of their expected projected earnings, coming in the back half of the year. >> it is odd how three months ago they had

would you pick on a pulte back to being number one for example? >> they look interesting.ds going on here is there's a sense that the business is really turned and asset is still what it's all about. i wouldn't -- you don't have to jump into that story. there's other ways to play the sector but to me it is not a no touch at this point. double negative. >> exactly. >> elegantly put. thank you for joining us. tim seymour, there's more coming up with tim and fast money crew at 5:00. bank of america's head of high yield strategy is saying calamity is coming for the high yield market and he'll tell you what has him worried. >> forget fracking, that's bernie sanders latest edition to speeches call for a national ban on frack being. we'll debate the impact of that move next. >>> coming up linda mcmahon will join us on set to talk about the gender pay gap and her friend donald trump's candidacy. you're watching cnbc, first in business worldwide. convicted felon and con man. that was a long time ago. you know, they made a movie about it. you were shown to be quite skilled at fraud.

almost losing his getaway wheels, he boldly steals the delivery from robert pulte's home. >> we found the box on the neighbor's lawn. >> reporter: what was inside? >> indycar -- a guitar cable for my daughter. and a coffee pot. >> reporter: a nearly identical crime be neighboring prospect park south last friday. the skateboard suspect pulls up to a home and grabs a box hidden behind a chair but apparently, he didn't like what was inside. >> i was walking to the subway and there was a box on this corner of buckingham, a heavy box, it was 30 or 40 pounds. >> reporter: gary found the box away, so the address label and returned it to his neighbors today. also a victim, possibly of this same box banned it two weeks ago. both homeowners say they are keeping a close watch on who's hanging out in their neighborhood. >> if you don't feel secure to receive deliveries, then you can't enjoy that convenience. >> reporter: nypd encourages residents to file a police report if a package is stolen especially if the thief is caught on surveillance video. reporting from ditmas park brooklyn, tracee carr

pulte group boardroom drama, the ceo will retire early next year.here's a look at the stock, down almost 7%. an interesting story today. this succession plan initiated by the founder the grandson, bill pulte, on this program a number of times. and also jimmy grossbeck who has been on this program as well. and who, by the way, in a filing we noticed was kicked off the. >> yeah. clearly, there's a lot going on inside the boardroom here. mr. duhgas pushed out. this may be unfair, given what happened in '07 to '09. in the last ten years, the stock down almost 50%, the s&p 500 up 60%. if you think that's unfair, definitely over the last three-and-a-half years, the stock stuck between 15 and 20 with a spike above once or twice. what's going on here, the stock has been stuck and the board has said we need to do something. they talk about a new direction. but they're a home building company and i'm not sure how much a change in the ceo slot is going to change the overall macro dime mix of home building now. you're in the sweet spot as far as the cycle goes.

pulte group, raymond james is downgrading them.ently crossed bost price target of $19. the home builder posted earnings by strong gross margin upside and tax benefit. here what's giving the analyst pause. the public and battle between the board and pulte family and unwillingness to increase growth margin zbooguide even with that upside surprise. >> it's been an ugly fight. and bill pulte jr. laying out the family side. they need to get that behind them. all right. stock three, l brands. upgrading it from a hold to a buy. stock has traded off in recent weeks on concern over strategic changes at victoria secret. the analyst says those changes are the right moves and should enable the brand to accelerate growth. they acknowledge near term sales could be held back by a couple of factors, but expense savings should offset the negative impact of any sales slowdown. the target, $90 a share, 15% upside from here. >> the stock is down 18% year to date. it's been a rough ride for l brands. fourth stock, amc entertainment. it's risky to make

trying to save the horse but her injuries were too significant to recover and the animal had to be pult down. >> it was -- put down. >> it was deemed by the vets that the best course of action would be euthanasia due to injuries during the fall. >> she was with her owner to ride in the sky line park trails in napa when she slipped off the road. >>> #justice. the impact of social media on the jury system. and the potential fines for those caught posting about cases. >> lab technicians working to solve cases get a look inside the crime lab at 10:30 p.m. and presidential candidates shift their focus to 5 eastern states. the 10:00 p.m. news continues in just 90 seconds. >>> a hunger strike to protest san francisco police shootings has grown to 7 people. for most of them tomorrow will be a fifth day without any foot. ktvu's debora villalon is live at the mission police station where the strike has taken over the sidewalk. >> reporter: it started with five people who arrived here at the police station thursday morning and started their liquid fast. and they say they have no plans to eat or le

pulte believe they should have bought, i suggested kb homes as a target.ts came out and disputed that. kb homes has the best california land that could be for sale. this is a negative letter. the kind of thing you don't, you know, bring home to mother, so to speak. >> yes. >> tonight -- >> alcoa. >> we make look at some of the new highs that you highlight which are interesting in your twitter feed. i continue to see some drug stocks go down. it's still not the place to be. >> allergan. >> allergan. people still think maybe that was not the brent saunders -- may have stubbed his toe on that pfizer thing. always love to have him on the show. >> richard galfont. >> some cinema. >> we'll see you tonight. >>> when we come back, former italian prime minister, mario monti. >>> good monday morning. welcome back to "squawk on the street," i'm carl quintanilla with david faber and simon hobbs. dow and the nasdaq positive for the month, s&p almost there. oil at 40.68. the highest since march 23rd. >> our road map this monday morning, the imf and blackrock's larry fin

pulte group do, , toll brothers, they're alsoowown. year-to-date, bibig hit for homeililders. dh hororton is down 3.5%. so you he otrsrs whichch are down as well. one thintoto keep in mind, federal reserve, averageatate for 30-year fixed rtrtgage is 3.6% nioionwide. nobo i is expecting a rate increase. mohammeded el-erian he set the stage. they are setting stageoror increase in june yoreremember years ago ben bernananke talked abou the taper tantrum. perhaps we'll see mortga r rates to gupup as well. liz: mohammed elririan from allianz and mcmco. he knows his stuff. he is saying that sets stage for possible rate hike. hexpxpects one to two rate hikes this year. get to how wealthy invesngng with all t questions swirling arouound. we have tiger 21lulub barbara goodsteiein with us. explaiain what your company do for the uber wealtlthy. >>iger 21 peer-to-peer learning network wherere theheyt together for invnvesent ideas and philanthropy. peopopleearning from each other. liz:these people comprise $4billion in assets. these are uber wealtlthy who get togeththern tiger r 21, they ta

ellis, you first on this kind of view of the future if it were donald trump and that being pult out by, you know, mainstream newspaper like "the boston globe" from the editorial board there. >> well, it dove tails so well, the shallow slogans and insulting nicknames. i think it's a fair thing for the country to do, what it would be like this guy wins? we'd be deporting all of these people and doing all of this crazy stuff. i don't know. i wouldn't wag too many fingers over that. >> and brian? >> yeah. i mean, look, it's no shocker that "the boston globe" is not a big fan of trumps. the thing is, like anything else, it will make his supporters dig in even harder and say it's the liberal media attacking him. it's not going to do anything to shake his supporters and reinforce the view of those who think that he would be a disaster. they will agree with him and then his solid whatever it is, 35% of the disaffected primary electorate who is chanting for him and they will roll their eyes and ignore it. it's good for those who are open to it. >> every week is a big week in the run for the whi

expected earnings next time because rates are still low or it gets taken over perhaps by somebody like a pulte. we heard from them last night. them's fighting words. >>> we hear las vegas sands doesn't know what it's talking about or hope china didn't like the sands and went everywhere else. much more "mad money" ahead, including my earnings with starbucks which was down badly after the close. i want to take a deeper dive before you just throw the thing out. >> and lam research is up 18% over the past three months. what did drones, data centers and shake-ups mean for the future? >> all your calls rapid fire in tonight's "the lightning round." stick with cramer. >>> tomorrow kick off the trading day with "squawk on the street" live from post nine at the nyse. >> if you are in the mall, you are going to get mauled. >> unfortunately my accent makes mall sound just like maul. nothing unleashes power... quite like the human foot. introducing the 241 horsepower lexus is 200 turbo. with almost twenty percent more base horsepower. once driven, there's no going back. that's like my grandma the kcooked,

. >> i own kb homes and pulte homes. they want them to be more inquisitory.terpreted kb homes to be one of the target. some banks say it's not going to happen. i'm long both. i think they've both been thrown out, baby with the bath water. they both ran up. there's more to go. >> wlaps if rates go to 2.3%? >> that is the real question. is there a scramble for homes? people who sat on the sidelines for so long, they were thinking it would be free money forever. that's what i think people have been sort of praying on for now. one quick question for you, big run out of kbh, i love those runs. a great run. but can they continue, or is this part of what we've seen, where you have this big run, and then suddenly they start to tail back. >> did you ask why they're not taking profits? >> that's what i'm asking. >> no, i totally agree. it's warranted. but if you look back at where they came from, they were so decimated. on a percentage basis, they've looked like they've moved substantially. but they really haven't factored in anything. if you get any slight tick up, or

that's not bill pulte, it's linco lincoln. >> see you tonight, jim. nice show.d money" tonight at 6:00. when we come back, former wells fargo ceo dick kovacevich and coke's ceo james quincey. don't go anywhere. >>> good wednesday morning. welcome back to "squawk on the street." i'm carl quintanilla, david faber, markets tepid after yesterday's climb. oil continues to get buffeted. >>> coming up shortly on the program. former chairman and ceo of wells fargo dick kovacevich, his views on the economy, on politics and on the health of the banking sector, post earnings also ahead we're going to speak to coca-cola's chief operating officer number two james quincey. coke now down 5%, but first breaking news on existing home sales. diana olick has the numbers for us. dian diana, how do they look? >> existing home sales up 5.1% to a seasonally adjusted annual rate of 5.33 million units. that is right along expectations. we did have a slight downward revision for february. remember we had a big drop in february, so we made up for this nicely in march. but we're still only

pult te group founder bill pulte escalating the push to remove the company's ceo. against the entire board at the company's annual meeting unless dugas resigns immediately. >>> apple pushed the earnings report back one day due to the memorial service on monday for silicon valley business legend bill campbell. >>> we have earnings just out from verizon. we can tell you, matched estimates with profit of $1.06 per share for the first quarter. revenue was slightly below street estimates. >>> a lot of out rage on twitter about the atlanta braves being the first team. the founding year for the mlb -- they use 1969 wh869 when the cincinnati red stockings were established but in this weird nuance that someone in atlanta decided to stick in here, you'll also see the atlanta braves, the oldest continuously operating team because the cincinnati reds were an independent team. but the 1871 boston red stockings had connections to the original team of 1869. atlanta is 1871. >> says the cincinnati boy. >> yes! that trivia -- alex trebek. they would have to award the dollars back.

the founder of home builder pulte group is ramping up a push to replace the ceo.pulte says hiring duga in 2003 was a big mistake. he accuses the ceo of overly aggressive land purchases that led to write-downs and losses and calls his tenure uniquely disastrous. that fight will not end anytime soon. >> that's the quickest way to hurt a housing company. land. land is so economically sensitive, you know. that's what all of the -- that's how all these guys have gotten in trouble in the passion. but they have to buy land to put up houses. land can go from, i don't know how much an acre to -- it can go down 50%, 70%. >> the ceo also did the centex merger in 2009 at the bottom of the market. they were supposed to be able to weather the market together. >> wasn't it good at the bottom of the market? >> you would think. >> you're doubling down in a tough time. i don't know. >>> 13th annual world health care congress today in washington, meeting to discuss the challenges of health care costs and the impact of affordable care act. joining us now former senate majority leader

don't miss this later, bill pulte will be on.rd member leaving the board. he'll shine "halftime report" at noon eastern time. in the meantime you're watching "squawk box" right here on cnbc, first in business worldwide. we'll be back in a moment. >>> welcome back to "squawk box" everybody. in our headlines amazon is working on a hiring version of the kindergartenle tablet with a rechargeable protective case. it will provide better battery use. they are developing a solar charged kindergartenle case. amazon is declining comment. jeff bezos said the latest version of the kindergartenle is ready. >>> daimler is in talks with microsoft in its digital mapping service. daimler, audi and bmw bought the technology last year for $2.8 billion. first tech firm to join that venture. deal could create a global platform for connected callers. >> when we come back a tough decision for a long island teen. >>> and amy schumer has an wish the latest issue of "glamour." we'll tell you why. ♪ >>> welcome back to "squawk box". today in sports news th

horton has done much better, but toll hasn't done better than pulte.s an inquisitive series of deals. >> had the centex deal that didn't go well. >> they bought centex at the peak. >> it was after the crash, but still not -- >> i wasn't even buying homes during that period. that was a -- that was little window. >> between pearson, staggs, there's a lot of management intrigue going on. >> by corn ferry, they do recruiting of ceos. i was shocked at this. the guy is a fixture in homebuilding. he used to come on constantly. the family didn't like him. just -- family didn't like him. see you later. >> what's on "mad" tonight? >> villanova. no. >> i believe you. >> no. we'll find -- i have the one company that has managed to beat mcdonald's. one. that's all there is. one. >> that's a tease. >> that's a tease. we'll see you tonight at 6:00 p.m. >>> when we come back, the co-founder and former ceo of twitter, evan williams. back in a minute. >>> good tuesday morning. welcome back so "squawk on the street." i'm carl quintanilla with sara eisen, simon hobbs, dav

watching those pulte shares. they lost a quarter of the value over the past year. another one to watch as well, we'll move to the larger cap side of things, apple, above its 200 day average price for the first time since the fall, november of last year. that's a big one as well. look at apple, of course, a big bounce off of the lows we saw earlier this year. and consumer staples stocks, large cap here in terms of general mills, it is trying for its eighth straight upday, investors checking the yield. >> hit a new intraday session high. >> trying to stay positive now. if it does, it would be its eighth straight positive day. >> up 13% this year. thanks. >>> if you've been following politics, you might notice that people seem angrier this election cycle. where is that anger coming from? that's next on "power lunch." who are you? i'm vern, the orange money retirement rabbit from voya. vern from voya? yep, vern from voya. why are you orange? that's a little weird. really? that's the weird part in this scenario? look, orange money represents the money you put away for r

so maybe that's something to pult on tput on the books to really take a look at this. while i know that the department of defense opposes, doesn't support this provision from my good friend from utah, it has expressed a willingness to take a look at the paperwork issue that congressman bishop talked about. i will go to ms. tsongas' point that this review is every 20 to 25 years, so with respect to specific piece of land that we're looking at, i think looking at it every 25 years is not overly burdensome. maybe the process by which we must go through is something we can take a look at. but i look around and i think, i told you earlier, just in 20 years, how much this committee had moved so much on its policies. so when we look at a piece of land owned by americans, 25 years, a lot can happen. maybe we need it, maybe we don't. maybe other commercial or activity or development has gone around it. so i think that we should continue with this provision, but certainly, i think there is room for us to figure out maybe have some hearings on this, to take a look at that paperwo

joe pulte they wl l report later today.y. downwn, as you know. $748.ebecause of e illness of people and ee cleaning up the stores. they are still tryrying to get back on top of tha chipolte reptiting today. they do o say that they are back on track. poporting earnings next week. they are tradi d down today as well. stuart: thank you very muc adam. several companieies porting their profits. apple,e, twitter, twitter, chipolte, ebay and a wholele lot mo.. those stococks could move dendining on those earnings resusults. we have it all covovered. after the belell. david asn and melissa fncncis. watctch those numbers cocome in. prident obama was to ld d in muslim migrants. a governor of the stete c changg his tune on letting themn. >> us versus them. trying t to blame our problems n the enenemy. someone who does not looook ke or does n not pray like us. whether it is immigrants o muslim ♪ os, withmiosoft cloud, we can enable a nker to travel to t t most remote locations with nothing b a phone and a tablet. everywhere wre there's a phone, y have a bank. now

it comes after he joined bill pulte in calling for the removal of the ceo, richard dugah.ll be a guest in the halftime report. he said he was excluded from several board meetings and didn't see any point in staying on the board. >>> after the bank's estimates of $1.35 a share. that was 9 cents better than the street was expecting. revenue slightly beat forecast. 39,000 verizon workers are on strike. they failed to produce an agreement on a number of issues, including pension benefits. mary thompson joins us. she is at the picket line outside the company's offices. good morning. >> good morning to you. workers from the communications workers of america and the international brotherhood of electrical workers walking off the job earlier this morning. the strike impacting verizon's wire line and some of the internet operations from virginia to massachusetts. the union says this strike is about preserving good jobs. it is also about money. dennis trainer, who is vice-president of cwa district one telling cnbc, it is time verizon shared more of its billion dollars of profits wit