This morning after the dow and the s p toastposted their best gains of the year. And carl icahn said one company has the worst Corporate Governance hes ever seen and Steve Ballmer making his first address since leaving microsoft, he did not disappoint coming to you later this hour. But first up well start with the markets, stocks coming off a record session, the s p a record high and the dow and the s p having their best day since december 18th. And adp showed the economy created fewer private sector jobs in february as the cold weather restrains hiring. You said the data has been okay. The durables and the chicago pmis have been all right. We have great data out of europe pmi. How could the economy be good and stocks be good and employment be bad . The economy is not necessarily good its delivering but with the employment weaker and the macromanufacturing come out and continue to amaze and the Mortgage Application number this morning that is strong. If you get russia off the business section then you look at the data. Its not Strong Enough that the fed is against you. Speaking of the front page heres usa today. Eyes probably too simply but putin blinks stocks surge. Is that it . Is that the end of it . Geez i dont want to say yes. If we ignore putin were going to be find. Fred kaplan with a great piece this morning i was reading. There are certain people who are really experts on the these situations, and they keep saying russia is a regional power. Dont overdo it. When you dont overdo it with regional powers what do you do . You go buy bristolmyers which was up 5 . Thats the bellwether when things are okay. Im literally saying the drug stocks exploded because people say, thats a nice safe place to be and the airlines went up huge. You usually dont see this confluence unless theres buyer who say the economy is weak ill buy the drug stocks the economy is stronger and ill buy the airlines. That happened yesterday. The russell took out not just the 2013 high but the 2011 high and a lot of technicians argue if theres something thats going to go wrong in the broad market youll see it in small caps first and clearly the russell is not telling you that yet. A lot of people are saying jim, you are nuts you are not focused on what happened in 1999. Theres business thats okay in the country. Are people irrationally exuberant, lets see, if the secondaries dont do well theres too much insider selling. The big cap stock not a lot of supply. People can actually buy. The big mutual funds can buy the smaller caps stock. Theres stock for sale. I only mention that because theyre getting a lot of money in and people want to own domestic stocks thats chathwhat this russell is. Absolutely. They dont want to know what kiev is. They think this is the tolstoy sketches. They want to make it historical. They want to be on the right side of history, which means owning small caps. The s p is up for 223 Straight Days only four streaks longer than that in the past 40 years but you dont see that being a threat . I think theres still a sense that on the professionals this is not a great market. Hedge funds got short again yesterday thinking monday thinking it would be with us for a long time. We have the breakdowns. We were down 6 one time this year, that brought out a lot of shorts. Fundamentals what can i say . The numbers are still good. Activist investor carl icahn calling in to squawk saying ebay has the worst Corporate Governance hes ever seen and its a symptom of how bad the American Companies are run. Ive never seen worst Corporate Governance than ebay. Ive never seen somebody like andreessen. Im not saying hes a bad guy. I say Corporate Governance is bad and i might blame donahoe more than andreessen for letting it happen. He did save a lot of his criticism for donahoe. He said look andreessen if he can get away with it why not. This was a remarkable breathtaking interview, because icahn has seen you mentioned chesapeake. Some tremendous situations of conflicts and hes really hanging it on this. I think the squawk team said rightly theres some hyperbole here, theres an interview with donahoe in the wall street journal that makes it seem okay. There was a dispute between Andrew Ross Sorkin and carl how much conflict there was in the skype thing. But the west coast does things differently from the east coast. They are willing to have andreessen leave the room because they want his advice. Carl wants everybody to be neutral. He did compare the system of Corporate Governance to elections in our government and said that our governments far more accountable because theres real elections. I think the idea that theres real elections in corporate just doesnt happened. You talked about the way he approaches this kind of thing, helping at motorola and he seemed to be drawing, i dont know a truce with apple . We have a new cfo who will come in september who has been called more shareholder friendly. If donahoe would call carl and say come on out and make case. Theres a dispute right now to analogize, they talked about pepsico at the end of squawk are they too dismissive of nelsonnell nelson peltz, and a board like ebay would be well advised whether they like it or not to say, carl, come on. Donahoe talks about in the interview, im willing to listen to everybody but carl is not going to go away and the one reason hes not going to go way is the stock goes up. A lot of ceos say how do you deal with carl . You try to treat him as their biggest shareholder. Is that right . Hes been very right. He got involved in forest labs and the stock went from 30 to over 100. Theres a whole new wave of people who say welcome. We talk about ballmer. They welcome value act. Youve got to do this. Darden going the other way saying listen to you activists, were not paying any attention to you. If you dont Pay Attention they come on tv and basically tell you that you are not doing your job and then that scrutiny starts hitting you in the supermarket. Im sure someone in the supermarket, if he shops, maybe you use amazon fresh, you can talk about that look hey, what are you doing . Carl is big and he visibly calls in and our network is the place you go when you want to put pressure on people. He almost suggested he might be getting out of who believes this he said he might be doing less of this as he gets holder. Clearly i dont need the money. You would hate to see him hang it up for the sake of Corporate Governance in america . I would be sad if lebron after a 60point game goes. Icahn is too good. A lot of people are saying hes too old. If hes too old, why is he making so much money . He said quite frankly why am i doing this because i certainly dont need the money. I think hes having fun. We like to have him on for the clarity it brings you. And donahoe has to respond. Theyre using the journal. Andreessen using the journal. They should use here. Donahoe did it initially but andreessen come on and give it a full vet and maybe it goes away. Maybe it goes away. Theres something between reading it and hearing it. Andreessen is talking about the thousand places. Theres one place. Come on here and let it go away. With that well see if they follow that advice. When we come back honeywell ceo david cote outlining his fiveyear plan spent some quality time with andrew becky, and joe this morning and roku taking on googles chrome cast with its own streaming stick. Will it be able to compete . The founder and ceo will join us later on. Finally futures here not looking too bad. Dow needs 180 points today to close at an alltime high. Were back in a minute. With all the opinions about stocks out there how do you know which ones to follow . 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So consider an aarp Medicare Supplement insurance plan, insured by unitedhealthcare insurance company. Like all standardized Medicare Supplement insurance plans they could save you in outofpocket medical costs. Call today to request a free decision guide. With these types of plans, youll be able to visit any doctor or hospital that accepts medicare patients. Plus, there are no networks, and virtually no referrals needed. Join the millions who have already enrolled in the only Medicare Supplement insurance plans endorsed by aarp. And provided by unitedhealthcare insurance company, which has over 30 years of experience behind it. With all the good years ahead, look for the experience and commitment to go the distance with you. Call now to request your free decision guide. New fiveyear plan. Now, theres a lot of anticipation about this years fiveyear plan. And what youll see is doubledigit Earnings Growth for the next five years in a continued slow economy or slow growth economy. 2014s on target. Yes. What did you make of the longerterm plan . I have 21 bankable ceos and cody is right at the top of it. There are many executives that have come out with fiveyear plan and have failed. His fiveyear plan he continues to exceed even as the fiveyear plan is totally stretched goals. Hes bankable. Boeing is very similar. Theres only a couple guys who really hit their fiveyear. And cody is rather remarkable because its organic growth. Hes not doing it by buying companies. He is so good. What is it about the business thats working . Is it a dynamic of being global . Global but also is it capx, what . Hes also at the central stage of trying to get your energy costs down whether it be in refining where he has the best chemicals to be able to get the most gasoline out of dirty oil, for instance, in the turbo which is what you need to be able to low your get more mileage out of each gallon. Thats a very important thing. And, of course, he does the cockpits for pretty much everybody. Hes done a remarkable job in honeywell, my Charitable Trust owns it. Its just been a gigantic winner. At one point they asked him about activism and he had a great answer when your stock goes up all the time the activists dont call. Good man. Is it your favorite industrial name . Definitely. Really . Yeah dave cody is a remarkable guy, and yes, ill admit we are nextdoor neighbors and hes also a terrific guy in person. You cant argue with what he brings to the interview and certainly with the stock as you said. Well watch that closely along with exxon also having a yes, down. In the meantime, former microsoft ceo Steve Ballmer giving a talk to graduate students at the university of oxfords school of business. In between talking about Lessons Learned at microsoft and the best thing about retirement the ability to golf wherever he wants. He talked about the future positioning of the company in the marketplace. Take a listen. Empowering technology for all that ought to be a brand proposition that if we run the company correctly can last 20 30 50 years or more. I had a bunch of guys at microsoft, you know, we were going through angst five six years ago, oh, what do we want our brand to stand for and, you know, lets face it apple has had a good run recently and apple is, quote, cool, unquote. Unquotequote, your choice. I love steve. Steves an old friend. He was a Business Manager when i was editor and chief of the harvard crimson. Theres a moment where he has this existential, okay we should have been and he goes on and on and on about how he blew it. Thats why i love him. I love him. Your sense as we make the switch to nadella, their fortunes better or worse . I think that one of the things that was great about steves swan song everybody has got to listen to it because hes so great, listen someone else we need a fresh set of eyes. Its funny that mark penn will be the strategic officer for the new guy. I did feel that balmer was abject saying listen apple just crushed us okay . We didnt see it coming and he made it sound like the next guy has a better hand. Really amazing selfeffacing, very rare to you see an executive who say, listen we blew it. And you cant get the candor until they are on their way out. The archrivals have new Cfos Amy Hood and theyll bring a new set of eyes to the street as well as product. Thank you for mentioning it. Amy hood is fabulous. The Conference Call was great. Oppenheimer is fine. But people should listen. Amy hood is a star. Not a rising star. An actual star. And ballmer put her in so i think thats a good sign. Theres a look at how the two stocks have done over the past year. Interesting. When we come back well get cramers mad dash, i think hell have a crack at exonthis analyst day today. Take one more look at futures and well get that opening bell in just a few minutes. Dont go away. Really . So our business can be on at ts network for 175 a month . Yup. All 5 of you for 175. Our clients need a lot of attention. Theres unlimited talk and text. Were working deals all day. You get 10 gigabytes of data to share. What about expansion potential . Add a line, anytime, for 15 a month. Low dues great terms. Lets close new at t mobile share value plans our best value plans ever for business. Opportunities arent 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. Slow ride take it easy about ten minutes before the bell, lets get jims mad dash this morning. Exxon is having an analyst day and it looks like capx has peaked for those guys. A lot of people has say its production peaks. You dont get the numbers from exxon. Contrast that with Continental Resources. Its a growth stock growing at 30 . This is a nongrowth stock. This stock moved up from here because of one thing Warren Buffett buying the stock. It cant get out of its way because it doesnt have real growth. Exxon doesnt have it. Buffett is in a box on this name . He doesnt care. He thinks its short term. Exxon by the way has a 50year plan according to a lot of my pro friends who follow the oils and exxon, look its too big to get the job done right now . Does it have to split up . What does it have to do . Exxon doesnt have growth in a market starved for growth. Liquids production up 2 . 4 over the subsequent couple of years. But capx was 42 billion last year. Right. Its going to 39. 8. And still saying Record Number of oil and gas prices and they talk about ukraine and involvement there. Exxon has what some people want at home which is a steady flow good dividends, good buyback but not mutual funds. They dont want that and hedge funds particularly dont like hedge funds. Gm mary barra taking the reins of what is turning in to be a persistent problem. Gm Charitable Trust owns it technically you look at breakout. Goldman sachs say this is it this is the time to buy. Theres a lot of talk about cash flow being very big. Heres the key thing you need to know about gm. As rates go higher okay this stock goes higher because they have a big pension obligation and it cuts back the pension obligation if they can invest with higher rates. I think General Motors is going to break out here. I think mary barea will put the recalls behind her. That means theres an opportunity. Buy gm. The run rate for the industry is nowhere near where we were last year. You could have a lot of upside. General motors has had a lot of upside in china and a lot of people are talking about a bond default in china. 20 growth for gm in china is what you want. Plus 3 yield. But both of those names are not what a lot of funds are looking for in terms of growth. No they want regeron and one that well talk about later i think when we get to, you know, a stock trading facebook. Remarkable note by jordan rohan about facebook. Basically saying whatsapp . Who cares. Go and hire. Thats what they want. You keep talking about two different markets. Two track. Two track. Theres the no growth and theres the hyper growth and the moneys being thrown at the hyper growth. Thats what were staying tuned. With all of that dont go anywhere. The opening bell is a few minutes away. Squawk on the street is coming right back. For tapping into a wealth of experience. For access to one of the top Wealth Management firms in the country. For a team of Financial Professionals who provide customized solutions. For all of your Wealth Management and retirement goals, discover how pnc Wealth Management can help you achieve. Visit pnc. Com wealthsolutions to find out more. [ indistinct shouting ] [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All on thinkorswim from td ameritrade. Youre watching cnbc squawk on the street live from the Financial Capital of the world on a wednesday. The opening bell in about 4 30. A lot going on. Futures not moving a lot dire