let's get straight to scott wapner, icahn and blackrock. >> one i think is overdue and one that certainly could not be more timely. i should also say in the spirit of the recently wrapped up world cup knowing what could happen over the next half hour or so, i have a yellow and red card and i will not hesitate to use it if i have to. larry, i begin with you. what for the record is your position on activism? >> there's a role for activism. a big role. we're the longest of longest-term investors. $2.2 trillion of money that we manage on behalf of clients, index funds. so we have to own companies that are poorly run and companies that are well run. we own all the companies. unlike active investors, and a lot of money we manage active too, our investors can sell those stocks it if they hate the company. we have to own the stock whether we like it or not. and the -- so we have a much greater responsibility in working with companies and hopefully over a long term working with the companies to build the proper returns we expect from them. and sometimes we will even then even agitate, we will do i

exactly. >> hey, terry, it's scott wapner. it's good to see you. >> thanks, scott. >> what portion of your budget is now being spent on technology has everybody is trying to ramp up with better and faster systems? >> you know, scott, i don't have the exact percentages, but i will assure you it's well north of 50% of our budget today. and it has been for over 10, 12 years now, scott. it's just a climbing expense that's going to continue to do so. and you have to have it. you have to have the systems and procedures and protocols in place, and they're all expensive. so a good chunk of our budget goes towards technology. >> do you worry about the possibility of a cyber attack even though, for all indications, at least at this moment are, that this had nothing to do with that? there are some suggestions that because you're publicly traded companies now, that you can't possibly put enough money into the system for security and things like that? >> well, we're doing a whole host of new things, scott, that we never did before, working

scott wapner, and "the half." >>> welcome to "the halftime show." let's meet the starting lineup. john lavin that will and josh brown and steve wise and bonnie baja from double line capital. our game plan looks like this. oil spill after exxon and chevron host their worst profits of a decade and beyond. is it time to boot both from your portfolio for good? camera ready, gopro shares are flat, but they say they're picture perfect. now we debate the call of the day. we'll begin with the market and what's been anything but a summer sizzle for stocks. now comes august which is historically hard for investors. the s&p has fallen 2.5% in each of the past five years. as we look towards what's ahead in august, five months to go, does everything hinge on whether the fed hikes interest rates in september? >> i mean, if that's really the case, then i have good news for you. the market says there's no shot. if you look at the cme's fed watch and you believe that the market is getting things right as we get closer, there's a much higher likelihood that you see a december hike. i think a 25 bas

now to "halftime" and scott wapner back at hq. >> already, guys. welcome to "the halftime show." store today steve weiss here along with josh brown and pete najarian. losing its heat, are chipotle shares in danger of dropping another 20%? someone said yes. our call of the day. pit stop, the end of an era for one style of trading. where the now tour is bound to be a little quieter. investors react to the no vote in greece. stocks staging quite a comeback only to start drifting lower again within the last hour or so. the focus on what lies ahead in the eurozone and our markets. a stunning reversal. what do you make of the action? >> i think it's only stunning if you haven't been paying attention. every one of these big, bad events is to the upside. it takes us time to go through the cycle of what's it going to mean? oh, no. and then we say, all right. what is this really going to do to the economy? and we get through this whole thing and by the time the event happens it's greeted with an exhalati exhalation. sooner or later that won't be the case and we'll run into the thing that d

. >> announcer: "the halftime report "with scott wapner is the place for market moving interviews.ney. real debates. themost profitable hour of the trading day, weekdays at noon eastern. opportunities aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >>> coming up at the top of the hour, greece, china and oil front and center. on this down day we're looking for opportunities out there. we've got the most loved stock on wall street. why analysts are so bullish on it. we're also drilling down to some of the oil service companies, why they might be worth buying and the technical stocks. tie to hit the sell button or is this also a buy? >> thanks so much, mandy. when something unusual happens, one of the najarians finds it. what do you see today? >> this stock has made a tremendous move. a lot of people talking about the speculation of a takeover. the stock peaked at $76 a share. it broke down a little

in a statement via our own scott wapner. macy's says, quote, we work continuously to maximize shareholder value, including share repurchases, increased dividends, continued investment in our business which led to superior operating performance compared to the majority of our competitors. excerpts from macy's statement with regard to jeff smith's comments about unlocking value about macy's. and macy's stock almost immediately shot up after he was presenting his ideas about the company. he named the stock as his best idea. he thinks it can be $125 stock if it splits into all of these separate pieces and unlocks some value that way. that's more than double its current value right now. jeff smith also saying it's between its operating businesses, real estate holdings the retailer could function as two separate companies. macy's holds more than $20 billion in real estate value. so, again, those shares up on that comment, as well here. now, tom sandell outlined opportunities in furniture retailer. he sees also there value in the r

back to headquarters, scott wapner and "the half." >>> all right, guys. our starting lineup, joe is here along with josh brown and john and pete najarian. our game plan looks like this, going all in. our defending stock champ buying five new names today, but will it be enough to get him back in the game? >> the founder of consumer products talks about his latest buys, the state of the markets and much more. we begin with the makings of a deal in greece. after the all-nighter in europe, stocks seeing their best three-day stretch of the year with all major

now to "halftime" and scott wapner back at hq. >> already, guys. welcome to "the halftime show." weiss here along with josh brown and pete najarian. losing its heat, are chipotle shares in danger of dropping another 20%? someone said yes. our call of the day. pit stop, the end of an era for one style of trading. where the now tour is bound to be a little quieter. investors react to the no vote in greece. stocks staging quite a comeback only to start drifting lower again within the last hour or

and of course, this is normally the time we bring you "the half" with scott wapner back at hq. ly the action is down here at the ch

. >> announcer: "the halftime report" with scott wapner is the place for breaking news.l money. >> the price of gas will end the year somewhere $3.00, $3.50. >> debates. >> we like quality content, we like quality distribution. >> the most profitable hour of the trading day. weekdays at noon eastern. what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim? for all the confidence you need. td ameritrade. you got this. can a a subconscious. mind? a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive? female announcer: sleep train's is ending soon!or 3 event! get three years interest-free financing on beautyrest black, stearns & foster, serta icomfort, even tempur-pedic. plus, get free delivery, free

back to headquarters, scott wapner and "the half." >>> all right, guys. welcome to our "halftime" show. our starting lineup, joe is here along with josh brown and john and pete najarian. our game plan looks like this, going all in. our defending stock champ buying five new names today, but will it be enough to get him back in the game? >> the founder of consumer products talks about his latest buys, the state of the markets and much more. we begin with the makings of a deal in greece. after the all-nighter in europe, stocks seeing their best three-day stretch of the year with all major averages now positive for 2015. joe, has the momentum now turned towards the bullish side between now and the remainder of the year? >> i think the down side concerns that a lot of people have have been neutralized. i do think when you look at 2015 what is becoming more clear to me that this is going to be less about the macro and is going to be more defined about what particular assets you want to create. i believe that's the case. josh and i were talking about this before

scott wapner, and "the half." >>> welcome to "the halftime show." let's meet the starting lineup. will and josh brown and steve wise and bonnie baja from double line capital. our game plan looks like this. oil spill after exxon and chevron host their worst profits of a decade and beyond. is it time to boot both from your portfolio for good? camera ready, gopro shares are flat, but they say they're picture perfect. now we debate

i'm joe kernen along with kayla tausche and scott wapner.touching a five-week low as eurozone leaders hold a summit. and we are monitoring developments there. michelle's over there. we're getting great reports from her. at the bottom of the hour we'll hear from billionaire investor wilbur ross who is quick to acknowledge that that was a misstep that he and his colleagues made that was made with investment into that greek. i thought there would be a 70% yes vote which shows you what i know on sunday. >> so did half of wall street. >> that's what i mean. and i just decided that it's impossible that we can't sort of foist our democracy in the middle east and they think yeah you're doing it right. we can't do it with economics either. now i understand how someone as smart as wilbur ross probably thought they were going to win. then they elect a socialist and give him carte blanche with the no vote. we'll ask wilbur about that. >> question is do they know what they were voting for. >> do we even know now? >> a lot of the people we talked to yeste

i'm joe kernen along with sara eisen and scott wapner.ncy measures by china having the desired effect at least so far. the shanghai composite rose 5.8% after regulators banned shareholders from selling. it was the biggest daily percentage gain in six years. and it basically erased wednesday's selloff but not quite. because if you go down 5.9% you don't get it all back if you go up 5.9%. >> you're a mathematician. >> if you go down 50%, you need 100% to go back up. >> oh. >> in the meantime -- why do you think i have this job? in the meantime u.s. equity futures are rebounding as well. but we're not getting it all back at this point. we're about 100 points shy. that's a good start if it were to hold up. up 165 points is what the dow is indicating. and nasdaq up 53 points right now. >> after losing 261 yesterday. in that weird trading session. >> yeah. >>> earnings season getting underway here. pepsi reported earnings this morning. adjusted quarterly profit of $1.32 per share. about 8 cents above what analysts expected. also pepsi raised it

i'm joe kernen along with sara eisen and scott wapner.ry this morning is happening over in asia. stocks in asia getting hammered again overnight. chinese security regulator warning of a surge in irrational selling. no such warning with the irrational buying that took the composite up to where it was. also shanghai composite plunging after that statement. it's down more than 30% since the middle of june. and the hang seng also affected as well. let me see if we've improved. we've improved. we were down 180 at the dow at 6:00 a.m. now down 111. almost 112. on the s&p down about 13.5. and the nasdaq down 27 after what a lot of people thought was a nice technical move in terms of a key reversal. but all bets were off after what happened in asia. did you think it was a reversal day yesterday? remember yesterday morning we were talking about how maybe greece, if there's a favorable resolution we go up. and maybe if there's not, it's already in. i thought i was right for awhile. >> i don't know why the market reversed the way it did yesterday. i

. >> i'm scott wapner in for bill griffeth. china's selling overnight has been pressuring u.s. stocks all day long. we'll discuss whether the china fallout is just the beginning for u.s. investors. >> fiat chrysler paying more than 100 million of its handling of recalls. transportation secretary anthony fox will join us live. >>> the ceo of boyd gaming will discuss where he sees growth. >> today we have henry tao, steve grasso. should we be as concerned over what's taking place in china? >> i don't think the u.s. market should be concerned at all. in china only 15% of household assets are in the chinese market. people are not spending according to what they make in the chinese equity market. i don't think there will be any substantial impact on the u.s. earnings at all. >> do you buy that rick? >> not even a little. i don't disagree with his information. i do think there are many aspects to china unique to china. many have no problem when commodities were racing and copper was racing saying this represented global demand. maybe it was china's demand. i think that this reversal

. >> last week at delivering alpha there was an on-stage discussion scott wapner led with carl icahnnd larry fink arguing this very point, larry fink saying it makes sense to push investment out to a longer term icahn speaking for activist investors saying no we shouldn't be hamstrupg inham hamstrung in that way. why is larry fink wrong? >> i have a lot of respect for larry fink. i just think he's wrong. i don't think the government should dictate time horizons. okay? this doesn't mean i agree with carl icahn on everything. i'm not thinking about carl icahn. i'm thinking more about the ordinary investor. look, if i see a good business opportunity, if i see a new start-up opportunity, why should the government stop me or penalize me from selling now, taking profits off the table, and re-investing it into a brand-new business which by the way, might create 20,000 new jobs if we hit the technology jackpot? i don't want government involved in this. it loses money for the federal budget and it discourages all the animal spirits of economic reform. can i be honest with you? larry fink is a

. >> i'm scott wapner in for bill griffeth. china's selling overnight has been pressuring u.s.fallout is just the beginning for u.s. investors. >> fiat chrysler paying more than 100 million of its handling of recalls. transportation secretary anthony fox will join us live.

scott wapner and tyler mathisen are there along with our own kate kelly. there are a lot of stocks moving on this news. tyler, i'll start with you because this is your show. what has stuck out to you? >> well the main headline from here is that there is not just power in the house, there's also lunch here for a change. unlike back in inglewood cliffs where there's lots of power and no lunch. scott and kate have been watching the proceedings all day. i think there are a couple of very interesting standpoints. for my money one of the standout performers was jeff gundlach talking about how he does not see an interest rate hike any time this year. >> he is always a headline grabber. riveting really presentation on the stage. just that he does not think that the fed will raise interest rates this year. what i think is most interesting about that is it's not like he's saying they should. he's not pounding the table saying they should raise interest rates like some others. he's saying i don't think they should and i don't think they will, that the economy is not