had a nice conversation -- this is carl icahn -- with tim cook today. discussed my opinion about a larger buyback should be done now. we plan to speak again shortly. we currently have a large position in apple. we believe the company to be extremely undervalued here and the first part of what i was saying, mr. icahn tweeting it out. i know this is a love fest here going on between mr. icahn and mr. apple. but people down here were really amazed. look at what's going on in this day and age. an activist investor talks to the ceo, the investor tweets he's pleased, he has a position in the stock, the company says nice talking to you, they issue a statement, the stock is going up. everybody is treating it normal, but it's rather remarkable to see what is going on in the modern world. people down here talking about how different the stock trading has become in this day and age. and looking at the dow jones industrials. bill is right. what's interesting is dennis lockhart, with the federal reserve, of course, in the middle of the day noted that the economy was

spoke to tim cook today. now this is, of course, after the stock.ember hit its record high above $700 a share and it's now sitting in the 400s so once again it's sitting at 485. once again carl icahn tweeting out they had a large position in the stock and they believe it to be extremely undervalued. >> coming up next, the sneaker edition of "sports talk." we're back in just a couple of minutes. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> let's take a look at what's happening with apple stock once again. currently up 4%. you can see a nice spike on the chart after billionaire investor carl icahn tweeted out in the

the board wants tim cook to innovate.ike the product or don't think the products in the pipeline is enough. they're doing this in the face of a stock price that has gone down dramatically from its highs. i can't tell you the exact percent -- >> , last sent was over 700. david: a little over 700? >> we're at 350? liz: 489. it jumped about 5% in the current session when carl icahn announced through twitter. we got him on the phone as you know. he said, liz, we're in there. we think it is extremely undervalued. we think a berg stock buyback would be the best course. >> carl is known as a greenmailer. which means i likes to take his pound of flesh and he is not looking to be in there for the long term. herbalife may be exception because of his rivalry with bill ackman. liz: chesapeake energy he stayed in that for a while. >> generally this is a guy looking to get in and out. a stock buyback would boost the stock and they have cash. i will tell you this, that the last thing the board of apple wants is this guy breathing down t

spoke to tim cook today, more to come. and then said had a nice conversation with tim cook today. larger buyback should be done now. we plan to speak again shortly. apple shares surged 5%, best day of the year because of those tweets. what do you make of the move? >> as an apple shareholder, i'm happy. as an activist investment, this is not likely very tough. not impossible -- he's not saying he's wanting to do anything active, other than they should buy back more stock. to move the needle on a company of $400 billion plus market cap is difficult even for someone as big as carl. >> do you think icahn will have the power to suggest and tim cook be receptive? otherwise it's for nothing. >> if anybody does, he does. clearly he talked to tim cook, i'm more with karen. it's a difficult road here. maybe they end up doing a little bit more of a buyback, but i wouldn't expect major changes just because he's in here. it's a massive company. >> he said a couple things. he didn't necessarily say how aggressive he was going to be. at times, he will let you know how aggressive he's going to be

remember, tim cook is a guy that sells on price an volume.n't know how to manage a company like that. that is why he is chasing the lower cost market because that is the way he will get more customers. that is thinner margins and samsung owns that market. lori: saturated smartphone market. do you think tim cook, maybe you address it earlier, do you think he has creativity to come out with the next biggest thing for apple? >> he is delegating to people like john any ive and engineers and software team. as long as he follows past history that may not be a bad thing. when they came out ipod. they had one model. then the mini and nano and shuffle. in interview at the time steve jobs when these products came out we want these to be affordable to be in everyone's hand. there is history tim cook lived through where the company said we want to bring the price down to spread volume and get it available to everyone. lori: circle back to ellison's comments t wasn't just apple, right, rob. he was having harsh words for larry page, calling them evil. orac

palooza get in the news but not because of tim cook's desperately needed innovation . apple employees are suing the tech giant because of the time uncle apple's spend searching their bags going in and out of the office would that we could launch a similar suit against the t.s.a. so we will do a break in the said abby martin on this later. and here is what saying you are a prime interest. i.

we're questioning tim cook. >> i'd question steve jobs just as surely as i would tim cook. >> help me> i'm not going to hip out. >> i want to understand. >> i don't lost cash sitting there, but what i really don't like is to think that carl icahn knows anything, absolutely anything, with respect carl, anything about the computer industry despite the fact that he got ten cents extra for the dell shareholders by holding everybody hostage which is what he does, i don't understand this. >> i'm with you, andrew. >> i'm sorry. you're talking about short-term distribution, that's what this is about. >> and just like george clony talking about dan loeb. >> because apple is a technology company icahn cannot question the balance sheet. that's not right thinking in my opinion. icahn has a right as a financier. he's an expert financier, to look at a balance sheet and say, you know what, right along the lines that dan was talking about. >> do you think he'll be a shareholder for five years in. >> seven minutes. >> he'll be there for a hot minute. >> he'll get his money and get everybody excited fo

he's already spoken to ceo tim cook.uring the regular session was up about 4%, almost 5%, having one of the best days of the year. it continues a little bit higher here in the after-hours session, up to $490. meantime, from main street to your living room -- >> i have a tape recording of a conversation that i had with john f. kennedy. >> so did the president know you were recording him? >> i can't tell you anything. >> "pawn stars" co-host rick harrison helping to drive the resurgence of pawnshops across the country. >> really interesting guy. really interesting story. we'll hear what he says is the most interesting object he's seen cross his counter. we have that and more in a moment. really love-- tdd#: 1-800-345-2550 playing this and trading. tdd#: 1-800-345-2550 and the better i am at them, the more i enjoy them. tdd#: 1-800-345-2550 so i'm always looking to take them up a notch or two. tdd#: 1-800-345-2550 and schwab really helps me step up my trading. tdd#: 1-800-345-2550 they've now put their most powerful platfor

spoke to tim cook today, more to come.nvestment is worth more than a billion dollars. icahn later said his friendly chat with cook included a call to increase the company's stock buyback program. he says apple has the ability to do a $150 billion buyback now, by borrowing funds at 3%. apple confirms the conversation took place in april. apple bowed to pressure agreeing to return $100 billion to shareholders by the end of 2015. it is boosting its dividend by 15%, raising its share buyback program sixfold to $60 billion, one of the largest of its kind. icahn tells cnbc a large stock buyback is a no brainer for apple, and would enhance the stock tremendously. he believes it could be worth as much as $700 a share. apple closed at a seven-month high on tuesday and gained more than $10 billion in market cap. it is up about 26% from its 52-week low on april 19th. but still down 31% from its all time high of 7.05 that it hit last september. he had a magic touch of late of his investments. nearly all of his holdings are up, includi

>> calls up tim cook and says i want yo uh to buy back more stock.that tim cook's greatest day or his worst day. >> well, carl icahn getting involved in your companies is plus and minus. but i think the announcement. >> he's a pain in the neck, right? >> well, from the investor standpoint, it's not a bad thing, right. you got someone on your side to push the company to do the right thing. >> he's going to call you at midnight, call you all the time. >> the big question for apple is obviously -- >> cash. >> no, the elephant in the room is whether they can continue to move forward without jobs. that's the question. can they continue to innovate, that's what you don't know. can they institutionalize creativity. you don't know that and that's -- >> well, you find that out. >> did you think maybe, andy, that was part of the discussion with tim cook. carl icahn knows that and maybe heard something about the television or the watch. >> that doesn't sound very icahnist to me. >> it wasn't just icahn, it was his son brett who apparently reportedly put this in

tim cook was there recently, but a deal with china mobile for a new line of iphones at a lower pricech they badly needed for some time, now that would be a huge, you know, impact in terms of the growth opportunities for apple. on the wearable market, samsung is expected to introduce a wearable before apple, but apple has with their passbook software, put on a wearable watch device, they have 550 million credit cards out there, and they could -- neil: they could -- i understand, they could build off that, but let me ask you about all the investors taking keen interest in it. now carl icahn, a billion dollar plus degree, and soros did less, but 64 million already planted. obviously, they think there's value there, but when you've experienced that as a ceo, pepsi or at apple, and they, you know, investors come in, are they a distraction to appease them and spend more of your cash i think is the push icahn made th apple? do they distract you from your mission? >> sure. it's distracting. that's the reality. apple s a huge valuation out there. someone could put a billion dollars to work as

i like tim cook.nk there are a lot of talented people. >> reporter: you just said to me apple is going down without steve jobs. that's exactly what you said. apple is going down without steve jobs. >> okay. i'll say it publicly. he is irreplaceable. i don't see how they can -- it will not be nearly so successful because he's gone. >> reporter: technology analysts say ellison is right about apple's leadership today. >> perceived as leaders without being perceived as lagers. >> reporter: he says without steve jobs, apple has been on the defensive over mapping problems, accusations of poor labor conditions in china, and competition with samsung. >> he was the vision of the company. he was the guy that created the magic and apple was a magical company. once you remove the magic from a magical company, you have something different but it's not apple. >> reporter: and ellison admitted he is not the same larry ellison either. he told rose he is mellowed. >> i think it's just, you know, a nicer -- [ laughter

spoke to tim cook today. more to come. apple's trading volume surged after that tweet, spiked 300% when it comes to volume. take a look at the stock. closed up almost 5% on the day, adding more than $17 billion to its market cap just this afternoon alone. so is this carl icahn's magic touch at work? joining us now from new york is the former reagan deputy assistant secretary treasury and abigail doolittle. abigail, i'm going to start with you. carl icahn strikes again. was this tim cook's best day ever or worst day ever? >> i think it had to be probably pretty close to his best day in the near term. this is probably a game changer for apple. a real inflection point, a bullish inflection point. i have to imagine that mr. icahn is seeing something in that business model that's going to drive revenues higher and stop the slide of messy quarters. i think you're going to see gross margins restored. i think in the near to medium term, we're probably looking at a $570 stock. this. co-s from someone who's been pretty bearish on ap

you know tim cook. >> right. >> he thinks what?y measured, sensible guy. so he's not emotional. he probably thinks, let me do what's right. let me figure out the shareholders. i think apple's issue that tim cook is facing is what's the next big product? every three years, steve jobs came along and kind of blew us away. we didn't know we needed 1,000 songs in our ipod. we didn't know we needed a new cell phone, our own cell phone was broken dead. what's the time? >> within i finished your book. there was a moment when he talked about revolutionizeing the tv business. i think anybody that finished the book thought the next big rell revolution at apple. the next industry disrupted was tv. it's probably been about two years since then. we haven't seen that happen. what do you think has gone wrong? was there something steve had planned that hasn't got him out the gate? >> yeah, disrupting the television business is not just a hardware issue. it's not even just a software issue. it's like what happened when steve and apple had to disrupt

he met with tim cook. he talked with him on tuesday. we know that.m a top 50 shareholder. he may want a larger buyback. apple has announced the largest corporate return to shareholders in history. they bought back 16 billion worth of stock in the fourth quarter alone. cheryl: the iphone will have to go under as far as price goes. handholds across the world will have to go down in price. i cannot see karl icahn liking the fact that he may not be listened to by tim cook. >> everyone loves to talk about apple. north of 100 billion of that is overseas cash. cheryl: they have 146 billion total in cash right now. >> i do not see them increasing their car buyback. cheryl: the world has lost its edison. we have lost this genius. >> leary raised the issue. we saw what happened to apple when steve left. it was not a positive thing. all we are seeing is iteration of current products. the jury is still out on tim cook. we do want to see new revenue streams opening up. cheryl: i have to say, we have seen apple with out steve jobs. the stock shows it as well. than

this is a potentially dangerous place for tim cook. don't you think? it's one thing when david einhorn comes down with a strict. if carl wants to shake you up carl doesn't care, he's going to shake you up. >> those who have gotten the call from him, aubrey mcclendon, former ceo of chesapeake found icahn, very reasonable man, has good ideas. it's not like mike wallace online one, the old joke, the most -- the most diangerous cal in the world. icahn is a guy you've got to listen to because he's been around forrer but einhorn has been around forevered. and that one was not amiable. >> and they fought him very quickly and rather successfully. now, you do get back to the point that there's not how much can an icahn do in a largest market capital in the world. it's not as though he can take a sizable position and threaten me could move to a proxy fight. you don't know where all the large shareholders stand. but it seems unlikely at this juncture. but it is interesting to note an activism generally we have seen a willingness of some of the well-known players

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. >>> tim cook of apple his leadership is being questioned again as new competition challenges apple. is there a new product out there that can save tim cook's job. , itv or iwatch or super game-changer? log on to facebook.com/afterthebell. we'll read your answers later this hour. ♪ [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ [ male announcer ] once in a while, everythi falls into perfect harmony. [ engine revs ] and you find yourself in exactly the right place at the right time. just be sure you're in the right car when it happens. the 2013 c-class sports sedan. power, performance, and style in total alignment. david: poor ol' radioshack. it can't get a break. shares falling today after s&p downgraded the company's corporate debt. let's go back to nicole petallides. she is on the floor of the new york stock exchange. they can't get a break! liz: ra

during the halt carl icahn tweeted, spoke to tim, tim cook of apple. planning dinner in september. eves in buy backs and is doing one. what will be discussed is magnitude. of course the only problem with this is nobody could trade apple but maybe that's the good time to put out the tweet. >> he's certainly able to play us play the financial dissemination. the utpsip is a different thing than cnbc which is disseminating a lot of what carl wants to buy and the fact that carl has put his chips in on apple and is saying i'm going to be out there having dinner with tim, we know he's a buyer of his own stock and he's going to -- the magnitude is what josh and i were focused on. >> you know you're a baller when you can move a market that's halted and when apple re-opened, i don't know if it would have re-opened at the same price without having seen that tweet in the gap. that was cool. >> let's not forget there were a number of stocks that were high. the nasdaq itself had a good day. >> the bar was low. >> the bar was set low. the nasdaq limbo. much more on the closing. what is the financi

that's coming up, and apple ceo, tim cook, facing mounting pressure in the company, but are they shootingm under his own tent? charlie is coming down with exclusive details next. ♪ ♪ join us at projectluna.com and this park is the inside of your body. see, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels. metamucil. 3 amazing benefits in 1 super fiber. ♪ >> oh, all you dividend seekers know this name. frontier communications. the company reported second quarter earnings in line with analysts' expectations on the top and bottom line. challenges certainly, but number one question is whether the company can continue paying up the healthy dividend of 8.9%. it's a regional telecom company, and she's frontier's chairman and ceo exclusively, and here's what she told us, first, about the dividend. >> the diff depped is absolutely safe, you know, we focus on the dividend as a priority in term was our use of cash in the business, and if you look at our payout ratio know, for the whole year, it's below 50%, so we have a lot of head ro

ceo tim cook said apple will have updates soon, likely in september. most expect the first offering to the iphone 5s but that would be the current phone with some upgrades. so what's down the pike? cnet and other theft blogs said apple is testing a bigger, wider iphone but that would probably not be released until next yearals the iphone 6 and they're putting the finishing touches on a wrist watch expected to be called the i-watch. if these updates appear to be slower, you're right. a company called pebble has beaten apple to the first i-watch. get ready for some updates and don't waste your money. i'm john matarese, abc2 news. >> so a new iphone may not be on your back-to-school list but pens, backpacks, those things are a must. >> why don't you peck up extra items for local kids in need. abc2 news has teamed up with the preston mitchum foundation for our school drive. we're selecting the essentials. for a full list, just head to abc2news.com/school supplies. >>> well, forget the green tea. hot chocolate could be the new drink of choice for your let.

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tim cook has been doing that delicate dance with washington all throughout this entire year.ing of tim cook, reports this morning that president obama met with him, with other tech ceos about government surveillance yesterday. is that right? >> yeah. fascinating story broken by politico about a secret, unannounced anyway, meeting at the white house between tech executives, including tim cook of apple, and also the ceo of at&t and others meeting with president obama himself just yesterday to talk about the secret issues involving surveillance in this country. now, we got a white house official to confirm the meeting. here is all they would say about the meeting though yesterday. they say the meeting was part of the ongoing dialogue the president has called on for how to respect privacy while protecting national security in a digital era. think about tim cook meeting sort of nose to nose with the president of the united states on this issue of privacy and digital surveillance at the same time his company has issued up on capitol hill over their tax practices and other things. a

i con says he had a friendly chat with tim cook, urging him to return more of the company's cash to shareholders. >>> hyundai is recalling suvs in the u.s. and canada. the automaker says the vehicle could lose power if one of the axels fails. the recall affects the sante fe with front wheel drive. >>> coca-cola is running ads defending the safety of artificial sweeteners. the news comes as sales of diet sodas are falling down 3% last year. richard, back to you. >> thank you so much. >>> ford wants you to focus on this, the focus is now the world's top selling car with sales in china raising 153% from january to march. on the rumor mill, the sun newspaper is reporting warner bros. will offer christian bale $65 million to return. that movie, 2015's batman versus superman. >>> still ahead, two rare pairs of home runs in your sports highlights. you're watching "early today." >>> all great songs. let's get the latest in sports for you this hour. followed with last night's game in st. petersburg, home run, then zobrist does the same thing, then miller again in the fifth. zobrist answers with another.

spoke to tim cook today, more to come.ssuming loaded up and loaded up a little bit more after he did that, and the stock popped. tim cook is apple's ceo and that tweet sent apple shares up 5%. pretty nice when you think about how much money carl icahn probably put into it. it closed at a six-month high of $489 a share. gene munster of piper jaffray has one of the higher priced targets of apple and thinks the stock will go up 34% to $655. part of the reason why he thinks apple is going to launch, get this, a watch. >>> well, today's international left-handers day. this is a big day for people like me, southpaws as we're called. apparently 10% of the population is left-handed like me. studies have found lefties tend to be multitaskers. and for many years left-handed people were considered evil, witches and warlocks and even today we are disdrimnated against. did you know that left-handed products cost 65% more than their right-handed counterparts? i mean, are you kidding? which is why i learned to do things with scissors wit

. >> reporter: tim cook scored a seatobama's state of the union seat after they invest $1 hundred million to bring jobs back to the united states. >> apple then sought, successfully, the holy grail of tax avoid ens. >> reporter: that can come in handy with a company, especially when it comes under scrutiny on capitol hill for tax practices a month later. >>> still ahead, heavy rains and high heat are hurting the country's vegetable crops. now supply is shrinking, prices are spiking and you are paying the price. first let's take a look at commodities, treasuries and currencies and how they did today. >>> a seven-year-old may be happy to hear this, you may have an excuse not to eat your veggies. no sir mac. a plant virus devastating crops and causing sticker shock. a look at the rising price of your leafy greens. >> reporter: there is a problem in america's largest backyard garden, also known as california. >> so you see this as opposed to thi this. >> reporter: here what's referred to as the nation's salad bowl there isn't enough lettuce or tomato. >> we're in an unprecedented type of situ

that he's bought a sizable stake in the iphone maker, he said that he friendly chat with apple ceo tim cookging to return more of the company's cash to shareholders. >>> and hyundai is recalling san day fay. it's expected 2003 with front-wheel drive. >>> coke can-cola is running adds in the usa today defending use of artificial sweeteners. mara? >> thanks so much. >>> from fast food franchises to colleges about 20 small businesses have told nbc news that they'll be cutting workers hours below 30 a week, this is in anticipation of obama care and its mandate that employers must provide health care. >>> ford wants you to focus on this. the focus is now the top-selling car. with sales in china raising 300%. >>> warner brothers will offer christiane $60 million to return for "batman versus superman." >>> straight ahead -- all of your sports headlines with richard lui, you're watching "first look" on msnbc. [ man ] look how beautiful it is. ♪ honey, we need to talk. we do? i took the trash out. i know. and thank you so much for that. i think we should get a medicare supplement insurance plan. rig

it wouldn't be tim cook, because he is the opposite of jobs. >> all right, sharon, thank you. >>> and you can see charlie rose's entire interview with larry ellison tomorrow on cbs this morning on kpix5 starting at 7:00 a.m. >>> the america's cup international jury is investigating ellison's or call team u.s.a. for illegal modifications to its boats during america's cup exhibition races. oracle has withdrawn from the event and ordered to return the trophies it won. the team's ceo admitted that some team members made modifications to three ac45 boats. they did them without the knowledge of skippers or management. it came to light during an internal investigation. >> a northern california man is embarrassed and sorry for flinging fruit on the field near the end of yesterday's giants game. 42-year-old, alexander tells the mercury news he grabbed a banana from a catering cart and threw it out of disgust for the giants losing. it ended up near baltimore, orioles center fielder, adam jones who just hit this three- run homer minutes earlier. it became a big deal because jones tweeted he beli

all of this coming just one day after the president met with top technology executives, including tim cook of apple and the ceo of at&t and others here at the white house to brief them on what he's thinking in terms of the cooperation between the private sector companies and the government in terms of intelligence collection around the world so a lot of moving pieces to this story right now. we can expect new news coming out at the top of the hour at 3:00. >> thanks very much, eamon javers. on deck, the price is right. prideline edition. a stock that's winning the race to 1,000. plus, the coolest thing you will see all week. i guarantee it. it's a new product that promises to keep anything and everything dry. is it too good to be true? guess what. we'll put it to the test right here on "street signs," and it's coming up. i've been doing a few things for a while that i really love-- tdd#: 1-800-345-2550 playing this and trading. tdd#: 1-800-345-2550 and the better i am at them, the more i enjoy them. tdd#: 1-800-345-2550 so i'm always looking to take them up a notch or two. tdd#: 1-800-345-

and -- to dinner with tim cook and talking about buybacks, it's unusual.have to learn a lot more about what went on as to an effort to try to bring forward some transparency and, hopefully, calm investors' frayed nerves. ashley: that said, it was another up day for the market. you're concerned about a pullback. what's going to drive that, and how much? what are we talking about, mark? >> we think we could see a number probably 1600, maybe even down to 1550 if it gets a little bit more aggressive in terms of the equity correction. and it's largely on the back of the fact that i think equity markets are going to have to reconcile to the fact that where earnings expectations are set for all of 2013 which is just shy of $110, assumes we're going to see something close to a double-digit earnings growth rate over q3 and 4, and given the recent pattern of mid single-digit at best earnings growth, it's unlikely we're going to see that. so as those earnings expectations get marked down, i think it's going to work to derate equity prices. and i don't think it's nece

icahn tweeted he bought a sizable stake in the iphone maker. iphone says he had a friendly chat with tim cookg him to return more of the company's cash to shareholders. he says the move has potential to push apple stock up as high as $700. futures are lower after stocks recovered from early losses on tuesday with the dow managing to avoid a three-day losing streak. data on wholesale inflation, producer prices, earnings from the likes of de. deere and cisco. coca-cola will run its first ads defending the safety of artificial sweeteners. it will run in the "atlanta-journal constitution" and "chicago tribune." coke is trying to stem falling sales of diet sodas which dropped 3% last year versus 1% decline for regular soda. the company says diet soda can help people manage their weight and evidence shows aspartame is safe. back to you. >> thank you. i'm no health expert, i don't know about diet soda, how about good exercise and good diet? >> eat less, exercise more maybe. let's see if you can get out and enjoy great weather today. >> you know if you want that exercise in today, do it early. do it

apple, reportedly a billion dollars and the stock is under valued and says he spoke with apple's ceo tim cook discussing a larger stock buy back program. for it's part it appreciates the interest and the investment of shareholders and discussed the conversation positive. the market reaction to icahn was strong. shares spiking around the time of the tweet, you can see it on the chart there 2:21 eastern time adding $10 billion worth of market value from that point until closing at 4:00 p.m. shares ending up 5%, one of the best days in months but look here at the spike in value, with just about 10 million shares trading in the final hour alone. >>> now a letter from another activist investor group had a bigger impact on shares of men's clothing retailer. beacon light capital that owns more than 1% of the chain wrote the retailer says shares are under valued and calling for a stock buy back. it also wants changes to the bored of directors. investors like what they heard. shares of joseph a banks surged 12.5%. >>> bill acre man is out at j.c. penney and says although he's leaving the bored. it's a

i like tim cook. there are a lot of talented people over there but steve -- >> you are apple is going down without steve jobs. that's what you said. i'll say it publicly. >> he's irreplaceable. they won't be nearly so successful because he is gone. >> they are going down without steve jobs. max, what do you think of that? >> thanks for having me. there is ellisson speak and not totally shocking he has a larger than life big ego a founder at oracle and he's warmed his close friend and another founder larger than life steve jobs is not replaceable. i think everyone believes that. the question is is the company worth more than where it's trading today? the answer is probably yes, but in the long term will they regain the share price or momentum or atop the smart phone industry and there i would cautiously if for different reasons agree with larry they won't go back to where they were two years ago. >> you think they can be good in the short term but not great the way they were? >> yeah, i think that's pr

if michael dell said, i'm stepping down or tim cook at apple said the same thing, would the stocks pop on the news? >> we've already seen ikon push the stock with his investment, 6 months ago it would have fit that bill. apple, maybe we're getting to that territory. people are getting concerned enough that people may misspend that money. >> what about on the other side, companies where the ceo were to decide to leave, the stock may drop, go the other direction, maybe a facebook with mark zuckerberg or yahoo with marissa meyer who's been successful in the last year. >> certainly if there was a turnover event like that, especially if the market was uncertain why the ceo was leaving, they may read negative things into that. and meyer at yahoo has seen the stock price bump in pausht because of investor reaction to her, if you think about places like a.m. zoon, there's a founder, ceo who's been the leader and innovation, that kind of turnover would be seen as disruptive to the organization. >> i want to ask you about jcpenney, you heard our report a moment ago, that bill ahman is pulling ou