buy viacom earlier this year.here is clearly a desire or recognition that scale matters in media and that cbs, which has already lost football rights on thursday night to fox, they need more scale. nfl rights are coming up and there will be a tremendous bidding war for a lot of bigger tech platforms for sports rights. cbs is not big enough. whether it is less or somebody else in charge of the company, there needs to be a multi step process that takes place for both of these stocks. vonnie: that's the longer term view, but with the court case, how unprecedented would it be to have voting shares diluted and to have shareholders that have been long time shareholders in cbs gain more power? richard: look, i'm not a lawyer. i think this is going to come down a legal battle. it's unclear even before that plays out before there is a rush running order on what could or could not happen. in the viacom situation, board members were added. they were never replaced. could that happen here? i think time will tell. there is cle

latest on cbs/viacom when we return stay with us ♪ you and me together ♪ through the days and nights. worry ♪ 'cause everything's ♪ gonna be all right. ♪ no one, no one, no one ♪ can get in the way ♪ of what i feel for you. it starthen a decisionussion, and now you're working toward something together. can you afford it? is it the right time? yes. and you feel good about it. because you're doing this for him in return for everything he's always done for you. at pnc, we're here to help you take steps today to make a plan to borrow and stick with it. bienvenido a casa, papá. pnc. make today the day. well, it'sonce again.eason >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about tha

she pushed the boards of viacom and cbs towards reuniting.tion led to the extraordinary attempt to limit the redstone family's voting power. despite thursday's ruling, appeals are possible, leaving the future of cbs, viacom and the redstone empire in question. after the board meeting, national mutuals issuing a statement saying it has no intention of forcing a merger between cbs and viacom that is not supported by both companies. national amusements said it is a controlling shareholder, indicating they don't want that to change while cbs said reducing national amusements control in the company is necessary to protect stockholders' best interests we could definitely assume that this battle will continue in court. back over to you. >> thank you, julia. so, what does this long and drawn-out battle mean for these media giants joining us on the phone, michael white, former directv chairman and ceo. thanks for being with us. >> happy to be here. >> is the danger here that in the struggle the golden goose gets killed? cbs has been doing well. its ma

shares are down 7% while viacom shares are down 8%. cheryl: charlie gasparino with more on that later today. coming up this morning, a golf trap burst into flames on a texas highway. the driver escaped. we will show you all of that. looks like some things have a "ghostbusters" merging over new york city. we've got the latest fallout for other severe weather with janice dean on what we can expect today. slightly down in the premarket.

after analysts at bernstein upgraded the stock to outperform, the odds of a reunion between cbs and viacom are close to zero for years. this is cbs chief les moonves methodically plotting escape plan from what he sees as a forced merger with cbs and viacom. charlie gasparino with what has been the best family feud ever. >> you go to a delaware court, generally adjudicates corporate disputes and a family controls our company. we want to take that company away from the family. i just never heard something like that. but it's happening here. it's cbs. filed a lawsuit yesterday, basically asking for temporary injunction to prevent shari

and is the logic behind cbs viacom getting together in the first place. to the extent that these theynies remain separate, would be clear acquisition candidates. however, you have to deal with shari redstone and national amusements, the 80% shareholder here. vonnie: what happens next?

nai controls viacom. to go ahead with a board meeting late today to consider the clearing a dividend of shares. global news 24 hours a day, on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. ♪ shery: thank you. one year later and robert mueller's investigation is showing no signs of slowing down. date has already -- his office has already indicted several individuals. and one isled guilty already serving his 30-day eitence for lying to the of -- the fbi ei -- the fbi. rudy giuliani told bloomberg that the president will be using the investigations anniversary to pressure the special counsel to end it. .e welcome jennifer rogers great to have you with us. we have seen indictments, people pleading guilty, people serving jail time. what is your best guest on where we are at in mr. mueller's probe? movedhink he has surprisingly quickly, given all the information they had to collect and absorb. to me, it has been rema

viacom.perfect scenario for redstone -- for national amusements is to put les in les has theause control of the streets. he has consistently delivered for shareholders. the street feels putting these companies together, if you are going to do it, i would rather have les doing it. vonnie: let me ask why she does not step in and do this, and if it means les goes, les goes? paul: that might be the next major item here. suinges is doing by national amusements is to dilute them, let the public shareholders vote for the video. feels shareholders will not vote for the deal, but if they do, they will do so with him in charge. caroline: i am looking at viacom shares. is the street generally thinking a deal with cbs is less likely? paul: it appears they are. at least a deal where both sides get together and are in agreement with the board makeup, the management makeup, and the strategy going forward, that looks less likely. we either have a broken deal or we will have a deal where les cbsves and his te

a number that the viacom special committee thought was reasonable but the key problem has been whathey would do in terms of management redstone had been willing, it would seem, to accept bob backish as number two, she said, in making clear she wanted, at least on the board moonves made it clear he wants no part of mr. backish in any way, shape, or form that's been the key problem. they're now going to the courts, potentially, with this special meeting, as well

and i think why the cbs directors have had such a hard time accepting the notion of viacom being brought into cbs. you know, the key profit center of viacom are the children's channels, nickelodeon and its family of channels you're talking about kids program network viewing overall as a sector down 50% in terms of ratings in the last four years and in the last quarter, against that base, they're down another 25%. i mean, this is worse than a melting ice cube this thing is really going south. and i don't think there's any management change or structural change that is going to deal with that underlying industry issue. kids are watching netflix. they're watching youtube they're playing games. they aren't out there watching these channels the way they were and so, that's a hell of a difficult situation to hoist on a company where network broadcast television as a whole

>> they think viacom is a weak partner. they would like a lot of cbs partners, les moonves would like to do a deal with verizon. verizon has come out and said, they do not want to buy a content company. that deal is off the table for now. but that is what he was hoping. he said, we understand the need for bulking up in media, but this deal is not the best deal for us. julia: the shareholders also really. >> that is what he has argued. interestingly, we had our sources saying they did come to terms, an understanding of economic terms. they had agreed on a price. what they could not come to terms on is the social issue because les moonves was to be able to choose the management team. his number two. ofri redstone wanted the ceo viacom. scarlet: she is a ready installed her managers. talk about shari redstone and whether she speaks on behalf of someone or not. not so long there was a dispute between them t,oo. i feel like their interests were not aligned back then. >> these days we are being told they are aligned and that they

viacom shares ended lower. cbs changed meeting.g in melissa armo of the stock solution, great to have you here, always a pleasure. >> good morning. gerri: good morning, let's star --t, he's challenging the owner to have company, he doesn't like a lot of brands, mtv, paramount. lots of luster there, does he have nothing to lose here? >> i have to be honest with you, he's done a great job running cbs. he's been there forever. he's done a great job, i don't think this is necessarily in cbs' interest to hook up with viacom. viacom in the last few years a lot of channels have in the done so great. mtv is going downhill, nickelodeon probably the most viable. the stock reflected the lack of interest really in those channels where cbs has tons and tons of hits. look at survivor, everybody knows survivor, the big bank theory at cbs. so i think, you know, it's very interesting. this is not over yet, it's not over by a long shot. cbs stock looks a lot better than viacom, up trend than down trend. it's a big battle. i think it's going to cost

he hates the viacom deal so bad.bviously. >> his people are saying if shari redstone department shove this down our throats, we would have never looked at it. he's going to walk out billing himself as a shareholder hero and has a lot of money in his pockets. from his standpoint it's win-win. they do think -- i can't tell you who's going to win. by the way the court may say deep breath everybody, do a ruling that this thing lingers for a couple of months as they talk. half the people say it's unprecedented for a court, especially the delaware court, generally decides matters of rules and not whether you take a company away from a controlling family to rule on this thing. it would be precedent setting. the other people say les has a good case. viacom is not a good asset, mtv, nickelodeon. cheryl: look at cbs under him. >> did well. and the market likes -- the stock is up because he doesn't have to digest viacom. 50/50. i have no idea where this is coming. cheryl: you're going to tell us first on fox business because yo

let's get to our stock of the hour, it is viacom. shares dropping that does on the news that national amusements is not seeking a merger between cbs and viacom. a fascinating update to the story. abigail doolittle is with us. >> this story continues. relative to the lawsuit filed by national amusements. the media company that has 80% of the voting rights for both viacom and cbs. it discloses that national amusements earlier this month went to the viacom board saying they are not anxious about a cbs merger because there are so many issues. this may reflect the realization that les is not on board, they need him on board plus the threat of ongoing litigation. if we take a look at this chart of viacom and cbs all the way back to 2006 because our earlier these two companies had been together. they split for reasons of valuation. we see in blue cbs's outperforming, more than 100% over the mast debt last more than a decade. they wanted the merger to try and create some of that cbs value for viacom. to just for today it looks like it is off

viacom could go separately >> which is why the stocks are reacting the way they are. >> that viacom isesn't necessarily make sense >> that's how i thought you were going to answer my question why does she want to put them together she's trying to save viacom. >> she believes that moonves could help save viacom she thinks the combination size could help them and give them lemplg whether that's true or not, i don't know moonves doesn't believe that >> if you could look out over the next several weeks or months since this soap opera is going to continue to play out, give us a couple of the permutations about how it would end >> well, i think -- you're talking about a married couple that forced marriage and they sleep in separate bedrooms for a period of time and moonves will try and fight this off she will try and bring it down neither one wants to attack the other by killing them. >> right >> he'd like to keep the job she'd like to keep him but increasingly it's a very acrimonious relationship i understand they met in moonves' office several weeks ago and it was a screaming match. he was

david: and then after a couple of years where viacom has cbs, and viacom decided it would be better toit the companies in two. leslie: correct. david: the theory at the time was that cbs was a little slower growing. it turned out to be the opposite. why did everybody get it wrong? leslie: well, not going to talk about viacom in a pejorative manner. look, at the time, we were the slow growth company. we owned the tv network. we owned a bunch of radio stations. we owned a billboard company. we owned tv stations. the other side at paramount pictures, they had nickelodeon and mtv. we liked being the underdog. ok, it's via grow, via slow. that is what they called us. our market cap has grown about $12 billion since then. we grew a lot. we have done extremely well. our stock price has gone up considerably. i think we're very competitive. i think we figured out the internet space. we figured out how to put our content online very quickly. so it's been a good decade for us in terms of the growth. david: going forward many times people who get cable services, they have a cable contract. now the

she hoped would run a combined cbs and viacom this is where it all started cbs' special committee had been engaged in trying to get a deal done with viacom, and their special committee, the board of directors. the two, as i reported, had largely agreed on an economic ratio, but never were able to agree on who would run the combined company in the sense of the role for a number two and/or at least a board role for bob backish at viacom. that's where it has broken down completely and leads us to this current mess where do we go from here, of course, is a key question many people ask i don't have a clear answer other than to tell you it's probably going to be awhile until things sort of clear up. until you get a better sense as to what the future holds for these two companies. cbs' special committee didn't want to do a viacom deal by the way, they could have said that they could have come out on monday instead of suing and said no we're not going to do it. we don't feel as though this is something we can do given that we want the management team in place that we think would be best posit

the fact is les did a wonderful job with cbs, not so much when it came to viacom.easy to understand to say wait a second, i don't want to put this back together unless i have complete control because you try to the other way and it didn't work so well. nejra: good to see you both. a foreign investor looking at this from the outside, putting context what this means for the media landscape generally because there are a lot of deals pending at the moment. david: i suppose you look at two ways. one the street is initially responding badly. because yet such a successful record. as all the others -- other deals are pending, cbs's looking at a smaller fish in a bigger pond. perhaps what sherry is saying is we need to get mass and scope. there are so many of these deals being made and so in the short realm, the concern is who will run this if it's not les. in the longer run i think the strategic question for investors is do need to match scope and scale. looking'm not actually at what google, facebook, apple and netflix shares are doing the moment but his is positive for t

what do we do with viacom?on that if you like cbs, viacom is even cheaper. >> on that outline >> play the game would you rather >> would you rather? yes. >> got myself out of that one. >> the ceo of one of the hottest stocks in an exclusive interview moments ago. we'll bring you those comments plus, shares of the wwe soaring today now up nearly 65% this ar we'll tell you what's behind this move. much more "fast" right after this >>> welcome back to "fast money. pot stock canopy soaring cnbc's jim cramer sat down with the ceo about how cannabis can be a key disrupter. >> huge disrupter to the opioid guys it's a very big disrupter in terms of what people might even think about benzodiazepines, sleep aids in canada, we have 3 or 400,000 medical patients in a federal program doing intellectual property, making different products. >> you must turn to our resident cannabis king, chief cannabis correspondent. >> i saw him today they have been leaders it's not just canada they did a great event today every company that

scarlet: what about viacom? nabila: viacom really needs this deal. thing with media is it is all about scale. viacom needs to do a deal. viacom has fewer options than cbs does, and that is the crux of the matter. lisa: one thing that confuses me is when you talk about what does cbs want, what does viacom wants, cbs, are we talking les moonves? the epic battle is really between les moonves and the redstone family. there has been some talk of yet another nuclear option that they could possibly employ, and that would be to fire les moonves. nabila: she says she does not want to do that, and she wanted to play nice, and she wants the two companies to come to an agreement themselves. now she has gone nuclear today. lisa: ok, carry on. [laughter] nabila: if she does fire les moonves, he is owed about $280 million if he is fired, and that includes his stock options and other benefits. he has a pretty sweet deal. even if he is fired, he probably went. -- wins. scarlet: there are so many twists and turns. what is the timeline after today's hearing? nabila: cb

up or viacom bring cbs down?he latter. i guess it remains to be seen. the media landscape is changing so dramatically with different distribution models and so many other new players getting into , witht and content itself specialized shows versus traditional models we have seen. thrivedcompanies have that. we are aware of that. it brings up the point -- are they both better off with it are suitors that can maximize assets versus being together? a concern isch of the marketplace and you as a loss?older is a michael: that is a possibility. find a way to to get away from the situation of ownership they are currently in. you could say that they were going to be successful. it is another step in the process that solidifies that wasn't going to happen. hasou mentioned, cbs underperformed over the longer term. how big of an issue is that? i don't know. if they were about by someone else who could maximize him, he has certainly been a good operator. he has been better than viacom. but i do not know how significant that

is making concessions on viacom in order to clinch three merger between viacom and cbs. reuters reports that they have offered cbs ceo and big-time leader to drop her demands to make viacom ceo is number two after the merger is complete. she is dropping that demand, that's why you see this big move at cbs moving higher by seven and three quarters percent and you got viacom jumping by five and a quarter. as we try to interpret these news pieces, we would definitely say that means less is fully in control if the reuters report is true. first i want to show you, hello everybody, foxbusiness is here, if we whip around, this is a shareholder meeting. i can tell you this is a crazy crowd. what we do as we look at all of the buffett businesses in right behind me is jerry, they are bringing in something like 40000, it's crazy the numbers they have but deadly bars and all kinds of ice cream, they will sell out. in fact we just talk to the people over there and they said it has been so unbelievably busy that they haven't been able to give any of their workers a break. that's unusu

you look at these two stocks right now, viacom trading higher. cbs trading lower.stors are thinking indeed redstone might succeed here. our own charlie gasparino joins us now. >> it is more than just the viacom deal with shari redstone apparently wants and the people on the cbs said including les moonves believes she is shoving it down his throat. i spoke with some people at cbs who sold me they would never even considered buying viacom with, their words, crummy assets like nickelodeon and mtv. i guess they have movie theaters too, right? paramount is not such a crummy asset. they would have never made a play for this if shari redstone didn't tee it up. she owns both companies through a company called national amusements. wants to american them together. hence the lawsuit. it more than wants to stop the viacom merger. it essentially dilutes out shari redstone's control. she will no longer have control of the, of cbs, if the judge grants the temporary retraining order and then tomorrow there will be a board meeting where the board has to vote. now another complicati

be one if viacom had gone up in value, but it's gone down in value. >> as the whole industry, in the last couple of years the industry, you look at the stock charts, viacom, cbs, discovery nets, amc networks, these things have been dogs and there's a fundamental reason you talked about it very eloquently but within the industry itself you got competition from amazon, netflix, from all of these providers that are fundamentally challenging this industry. so, when we look at this merger and what comes out of it, it really might be, i'm sorry to use this euphemism, but the classics of two drunks holding each other up. >> but with cbs stock, they don't like the potential that this deal could end it >> what they don't like, also, you got redstone and less moon v ves has consist leently rejected that and i think cbs is worried that les moonves may walk away. sherry redstone, she's never run a company like this. >> julia boorstin joins us now she's been covering this our colleagues in general news think business news is boring and they don't understand how crazy personalities can drive this

that judge, look at both the stocks, cbs, viacom involved in this down today. this requires a little bit of background to bring you up to the point where this ruling just came in moments ago. cbs filed a lawsuit monday essentially trying to blow up its merger with former sister

you're talking about a stock trading at six forwardmultiple viacom should be given their problems how much of a discount do they need to trade at at what point is m and a coming in to be the white night cbs the most interesting followed by viacom close second. >> give you a positive for disney, 12 buys, 10 holds. you know they aren't going to sells. they have catalyst if they find something positive maybe this deal, maybe look through earnings, something said on earnings call they can find something positive there is a catalyst for upgrades. >> here is a thought what do these companies instead of spending tens of billions of dollars spend part of that creating content just like netflix? >> i think disney is certainly the one that's best able to do that and -- >> so as a shareholder, would you prefer them do that? if you say they are not behind the pate ball, they don't need these assets, build out distribution, can't they build out their own content by putting every penny into content. >> what i think about disney and why they deserve their premium multiple, diversified business, mass

viacom share price jumped a percent and a half in that piece.aybe that was based on pricing revealed >> just a pie there, holy cow. 6.6135 - >> exactly >> every little decimal counts >> that's true >> very much squeezed here in the bottom of the screen anyway, david faber there. tune in tomorrow 10:00 a.m. with lowell mcadam, don't miss that one. >> are you going to be here? >> at 10:00 a.m. - >> no, you're going to the wedding, aren't you? >> i'm not -- not yet. the wedding -- >> do you think you're going >> i'm not going as a guest. i'm going as a reporter, which -- >> well, that's what i assumed actually, all right. wednesday? friday >> i'll be here -- >> wednesday >> tuesday and wednesday's show. >> and them you're out >> yeah. >> okay. >> popping up on friday's show from windsor >> in lego land? >> no, they are not marrying there. >> we'll work on it. 35 minutes to go e dow holding on to a gain, and, of course, we're extendsing a nice run, many sessions in a row now, eight we're talking about, and s&p up four, but russell is lower. a man wh

scarlet: what about viacom in all of this? team, the ceo and his team, executing on their turnaround plan. they have a very ambitious turnaround plan with a lot of work to do. the cable network has a lot to do. paramount studio has a lot to establish itself. so there is a lot going on. the very early returns are generally pretty good in investors are giving the team a decent vote of confidence. it is early, but i think that shari has seen enough to think that bob bakish can run the company. scarlet: and she is hand-picked by her to run the company. julia: what is in the best interest of shareholders? this,hari redstone out of her own personal issues, because this is what les has argued, that this is not in the interest of shareholders. >> he says that because viacom is such a challenge and there is such a long-term turnaround, and no assurances that it can be turned around, so standalone cbs is a much better play for his shareholders. now the question is, ok, be that as it may, if you are going to force me to emerge into compa

what happens if viacom can't merge with cbs what happens to viacom >> that's a great question look, viacomcheap and it gets cheaper, that's not a good thing i think what happens to viacom, it will get even cheaper still but the question is cbs. tom rogers was just here the same week. >> two times. >> he said cbs is way too cheap. at eight and a half times forward earnings, despite all this noise, and most of it is noise, i think it's too cheap. i think you buy cbs on valuation and viacom, you have to be a believer, which i have been, but been wrong all along. >> switching gears, deutsche bank getting kicked while it's down falling 4% on a report that the fed added them to its problem list shares down more than 40% in 2018 shedding $17 billion in market cap that prompting this response as a matter of policy, we do not comment on specific regulatory feedback the ultimate parent of the deutsche bank group, deutsche bank ag is very capitalized and has significant liquidity reserves, end quote. sound familiar let's bring in wilfred frost who covers the banks better than most welcome back to "fa

corporation is in a fight with national amusements incorporated which owns viacom for who will control c.b.s. going forward national amusements is owned by the redstone family which also controls they would jordi interest in c.b.s. late last week the feud became frontal in court here to explain what's been going on and what to expect at c.b.s. is conservative t.v. and radio host steve malzberg steve thanks so much for helping us out on this set the table what's going on with these media moguls well let me tell you something this would make a great c.b.s. mini series or drama because it has intrigue it has everything you want to capture the public's attention all right so so the red stones through national amusements sherri redstone is the controlling member she is the current controlling shareholder of both viacom and c.b.s. they fall under the umbrella of national amusements and she wants a merger between c.b.s. and viacom they've had merger talks but they've been unable to agree to terms especially when it comes to management how that would be set up what the role of moonves the c.e.

charlie: and viacom is up where people are betting the merger is going to happen where cbs will buy viacom, at some point shareholders and investors need some clarity on this and it has to come to a head, probably sooner rather than later. the court made it pretty clear the fact that he said no temporary restraining order if you want to keep suing, i think they want to expedite this thing at least that's the tea leaves i'm reading but at some point it's either sherry wins she does her thing where she merges viacom with cbs or les wins and he gets to say no, you're out. you're no longer the controlling shareholder and we run the show and if that happens, you know, i think in either case if that happens, i think if sherry merges viacom and cbs, i still think it's takeover bait. i still think it's very hard for that media company given the range of properties and given what's going on -- neil: together or separately? charlie: either together or separately. neil: interesting. charlie: all the bankers say they are takeover bait. if it's separate cbs can probably sell separately, and that's the

this latest battle scene is putting cbs on a road to a merger with viacom.eep redstone from voting in the meeting taking place at this hour. they are looking at dividends and other issues, but also, take a look at cbs stocks. thetwo-day chart showed drop, but the bigger picture is that there is concern here clearly, over the future of cbs. if we look at the ceo, he is leading the battle right now. the concern is that what could happen in this order meeting, they could oust the board and the ceo. he believes that there is a lot more legal fight ahead. expect some details to come out of that meeting in the next hour of the show. but again, this is a huge dust of between two major media companies. we will see who emerges in the .ays and weeks ahead yes indi: we saw brent rallying a london, the first time since 2014 that we have seen those apparent gains, but the global glut is shrinking. so what is the latest? getting above $80 for crude is huge, as you mentioned we haven't seen that since 2014, and it has a lot to do with the iran sanctions and president trump

viacom lower.edstone's amusement in an attempt to block a potential merger between the stoop of companies. cbs higher, viacom lower. sears holding up about 8%. eddie lampert san the company has a plan to potentially sell -- eddie lampert saying the company has a plan to potentially sell some assets. xerox is lower as that $6.1 billion deal with fujifilm is off the table. gaming, a bright spot, stocks. mgm and boyd gaming, caesars trading sharply higher. all of this as the supreme court knocked on a deck is a world that banned gimli for individual sporting events here in the u.s., with the exception of nevada. this now paves the path for other states to legalize gambling. of bloomberg intelligence estimates the illegal cabling market in the ould right now c represent $5 billion worth of bookings for these companies. it could beat materials. scarlet: it could be a game changer. thank you. now to first word news with mark crumpton. openss the united states the new is really industry injuries jerusalem

both of these stocks are getting hammered i think viacom is off $ 10.: you see i think sherry redstone obviously wants to preserve her father's media empire. liz: well she's doing the opposite. charlie: now here is the reality that the markets are sagathies media empire doesn't deserve being preserved. markets are essentially saying we need to break you guys up and sell. i mean, they're not going to survive together that just the way everything is moving with cord cutting and the fact that people don't go to movies when is the last time you went to the movies? liz: yesterday i saw deadpool 2 and it's hilarious and awesome and i love ryan reynolds. charlie: of course you do. liz: let's make that clear. it's rated r, what do you mean i haveids? charlie: did you bring your kids to this? liz: yes. charlie: my mother brought us to deliver answer just so you know. liz: no wonder you are the way you are. charlie: and she thought it was this, you know, she liked bert reynolds and all them and thought they were great actors. liz: they are, it's a brilliant movie

i mean its not been down like viacom, the other company that the redstones control, so i'm just sayings guy is pretty good. he's got a good board. he makes a really good case that viacom should not be jammed down his throat because they have inferior properties, so i can't tell you how this is going to turn out but that is a legitimate argument and i think where this gets merky is in law. can you really take the company away from the controlling shareholder that is hard. that's hard. we should switch to another topic. liz: the royal wedding? charlie: i wish. no another sort of battle royale which is occurring at the white house. liz: oh, there is royale in there. charlie: steven mnuchin the treasury secretary, peter navarro, mnuchin is the i guess the globalist who wants to cut deals with china, navarro says no, i want to make it real clear the white house yesterday basically tried to throw cold water on my report that navarro was still kicked out of the meetings with the chinese. navarro did not go -- liz: he wasn't in on any of them charlie: not yesterday. liz: he didn't even get to

cbs and viacom, can even see if future together? does that push them closer or further from a merger. charlie has the inside story on an unbelievable feud. d out hs that money would last them. how long do you think we'll keep -- oooooohhh! you stopped! you're gonna leave me back here at year 9? how did this happen? it turned out, a lot of people fell short, of even the average length of retirement. we have to think about not when we expect to live to, but when we could live to. let's plan for income that lasts all our years in retirement. prudential. bring your challenges. and i recently had hi, ia heart attack. it changed my life. but i'm a survivor. after my heart attack, my doctor prescribed brilinta. it's for people who have been hospitalized for a heart attack. brilinta is taken with a low-dose aspirin. no more than 100 milligrams as it affects how well brilinta works. brilinta helps keep platelets from sticking together and forming a clot. in a clinical study, brilinta worked better than plavix. brilinta reduced the chance of

viacom shares rose by 3%. shares o cbs were up by 9% today. >>> and shares of cyber security company carbon black made the debu company priced 8 milli shares at $19 apiece. that was the high end and it valued the company at more than $1.5 billion. and it was a good debut. shares finished higher by 26% to $23.94. >>> and wells fargo said today it will pay nearly $0 million to resolve a class action suit related to the sales practices but the bank denie. shares closed up more than 1% to $52.41. >>> time now for our market monitor who says he likes value stocks over growth stocks the market. the last time he was on was back in july. he liked ale which is up 22%. amazon is up 51%. and microsoft is 30% higher. joining us is ernesto ramos, a portfolio manager. we. >> thank you very much. >> congratulations on those picks. all three were win let's sta first of all with the fact that you are looking at value right now and you have united rentals, uri, on the list.e why do you l it? >> well, because it's a true value s

lseven yearser national amusements a cbs split viacom into two different coanies. after a dozens tumultu years, sherry redstone is pushing to combine the two giants. moonves is objecting. what happens next? the legal battle is just beginning and if ons loses, it could result in cbs its veteran leader and board. i'm julia boorstin in los angeles. >>> nordstrom reports disappointing same store sales, and that's where we begin ar tonight'st focus. the retailer said sales growth in the most recentuarter was weaker than expected even as more customers visited its stores. nordstrom topped earnings expectations but that wasn't enough fores irs who sent the stock lower. shares sent it up to $51.97. ortedly s fargo r altered documents about its business customers. according to "the wall street journar the impro activity took place in 2017 and into early this year c thnges were made without customers' knowledge. the bank is investigating the matter and has reported the issue to regulators. stk fell 1.5% to $54.22. >>> world wrestlingrt ennment is reportedly shopping its "sma

like media i think disney is going to turn out to be okay i rely on david entirely because i like viacomt to be why i shouldn't. >> speaking of viacom and media, let's get to the latest on that credible battle between cbs and its controlling shareholder national amusements. we did get the response to cbs' complaint last week. remember, they are in delaware court debating whether or not the company actually had the right the board of directors of cbs had the right to declare this dividend that if, in fact, deemed effective by the court would have the impact of vastly diluting that controlling shareholder nai. the complaint out this morning is great reading i highly recommend it. there's a lot more detail in this complaint from nai about relationship with moonves, about a lot of things. let me get to it, actually i have a lot of writing for people to read bear with me it's worth it. for example, nai says we've made it clear that we would eventually being relinquishing voting control we said that to mr. moonves. they discussed and agreed that a combination of cbs and viacom could benefit --

viacom down about 5%. >>> look at tesla. it is under pressure today. we had a few different stories about eye tracking which is interesting and steering wheel sensors. of course the ceo coming out making his own tweet saying it was rejected for being ineffective, not cost. the stock is down 3%. there were several tesla stories today but that was the latest? >> and sears, they're working on a committee to sell kenmoore. anybody know kenmoore appliances? of course you do. eddie lampert is pushing this, the billionaire investor, the stock jumped 6.7% on a day are with the market has all up arrows. look at retailers reporting this weekend of the thick of earnings season has passed. we have a lot of names to watch including macy's jcpenney, walmart, children's place, perry ellis, those are the retail sector. we have a lot to watch. back to you. melissa: nicole, thank you. david: let's bring in today's panel. the market panel is adam lashinsky from "fortune" magazine. he is also a fox news contributor and liz peek from the "fiscal times." liz, eight straight

real quickly, any updates on the whole viacom, cbs thing?than to say that, you know, when i talked to moonves' people, they're, like, bring it on. he doesn't care. fire him. you want to go there? go there. neil: because you get a great parting gift. >> a great parting gift, and they really think he's got a good case that this deal based on the price they want him to buy this -- remember, again, the redstones' control through viacom and cbs, they're not the majority shareholders. he's got a my futurity -- fiduciary responsibility to everybody. neil: thank you, everybody. charlie break news left and right. >>> in the meantime, seattle is voting on a very controversial tax on large businesses, says they should pay up to help fight homelessness. hillary vaughn has the latest from seattle. hey, hillary. >> reporter: hey, neil. well, the seattle city council is voting today on the head tax. that would force companies that make over $20 million a year to fork over $500 per employee on the payroll. the mayor has promised to veto the plan as is, but