Goldman says not likely unless something changes in china. A fight against United Airlines as investors push for six new Board Members including Gordon Bethune. Reports of a meeting including elan musk, larry page and top ranking republicans to stop donald trump. Well get details on that. First the fight that broke out this morning between United Airlines and two of its shareholders with a combined 7. 1 in the company, par capital which is a well known airline investor and altimeter, a less well known hedge fund. They have a letter after a long period of negotiations with United Airlines. They filed a 13d some time ago that resulted in nothing that either side was willing to keel with in terms of accepting potential nominees. So we get a letter and a press release this morning saying any number of things including the following. In their view given united Strategic Asset base long term under performance results from what they say is an under qualified and effective come play sent and entrenched board of directors. Yesterday at 7 00 a. M. United announced three new Board Members and brought up the idea of appointing a fourth. The board has gone from 12 to 15. Well go back to 12 at some point. The par altimeter combination says your seemingly desperate actions yesterday appear as an attempt to maintain your official privileges and power despite your long record of deficient oversight on behalf of stockholders. When exactly did you determine that the board was so inadequate as to require four new directors all at once and without an annual meet ing or shock holder vote. Altimeter and par said we want six seats and Gordon Bethune appointed chairman. In a letter received i believe last week, five seats and Gordon Bethune as chairman reduced to three seats and gordon as chairman. Ual came back. There is mr. Bethune. They said two seats including mr. Bethune but the key is a threshold issue of mr. Bethune being made the chairman, jim, of the company. Now they are looking for six seats. Very much unclear. I cant remember the last time an activist investor won all the seats like that. Star board, dart and when they replace the board. They say it is a minority slate but with a board at 15 but apparently going back down to 12 with directors stepping off and two of the overall directors being not elected by shareholders but union reps one could argue you are talking about enten seats and they want six. Thats a majority slate, control slate. Thats an interesting question. What are they upset about . Im looking at the numbers for united. Stock over the three years, 94 . American, 71 . Look at Revenue Growth year over year. United, minus 2. 7. American, minus 3. 9. True jetblue did bet er which we know is a growth air line. Spirit, look at this. Lets look at the passenger seats. Spirit, minus 21. United down 4 . Jim white hurst will be coming on for ual. Hes from red hat. Already on. 48 years old, right from red hat. And delta. He was a brilliant man. He is. He turned around delle that. I fail to see what they are angry about. Ual would have people know the return on Investment Capital increase ed by almost 1300 basis points since 2012 to 21. 1 . Free cash flow 2. 5 billion in 2015 adjusted ebitdar an increase. United saying they are tis appointed after the attempt to engage in a constructive dialogue with par and altimeter repeatedly communicated willingness to make changes on the board, announced our intention to name new directors, named three of them yet. They are obviously disappointed par and altimeter have taken this hostile action that no concern that a proxy fight could distract the company from executing on oscars strategic plan. Mr. Munoz had a heart transplant. Coming back to work next week. Not a way to welcome someone back. Talk about a business where activists have a long and storied history including big names we talk about all the time. I will tell you, this gets to me. How did united do three years, 94 . S p, 29 . How did united do over the last two years . 20 . S p, 6. 6 . I would kill for this performance. Do you know how Many Companies i have now that i follow that are down . Why cant they go after somebody who didnt have a heart transplant. There was a lot of frustration with the airline. They have a new guy. They got a new guy. He came in and unfortunately got very sick. Now hes better. Welcome back. Out of here. What the heck . How about ale little empathy. This is business. I have hyman roth here. Its not personal. This is ridiculous. This is a good stock, getting better. Oscar is terrific. I knew him for a long time. He did a great job at csx. These activists do you know what they are . They are like the, they are the tin man. The what . They dont have a heart. Oh, the tin man. Gordon bethune is a guy who knows his way around an airline. Is he not . Tin man partners. They are made of tin. They get together. Great tin man partners. Southwest and jetblue will open lower on some of the figures and guidance. Tough comps year on year. Yep. There is too much capacity, even though i dont know a single plane i have been on that wasnt full. You could make a fortune booking flights and not going on them and getting the money. I dont know. I have companies i want to challenge. Maybe Gordon Bethune will look at these restaurant chains, noodles, potbelly. Got it. Asia was mixed overnight. Europe and u. S. Futures have weakness on the chinese export data. The global trade data showing the fastest since 2009. Government bonds in japan hit a new low. A note from goldman warning on the surge saying be aware of premature rise. Gold man says they need to keep the stress on and get the ultimate rebalancing. No one is making money. We are seeing a separation of the men from the boys. Anything chevron wont do . A real company. These other guys, theres been 17 deals, equity deals. Is that whats been 17 overall . I dont think iran can pump as much as we thought they could. Iraq is a divided country. I dont think it will do well. The capital budgets are down. It will be a different year from 2016. I think goldman is smarting. They made the 20 call. They should have declared victory. Remember, they had the high end, the low end. Obviously everybodys got too much oil. There is no place to put it. I think every big move in commodities i have seen starts with a short squeeze. Yeah. Thats a chinese ex portal falling 24. 5 . It was critical. That cant be good for commodities. Almost 14 straight days. Do you think iron ore can go up unless there is some . They cut back supply great. Copper is cut back so great. It got ratcheted back. Did you see caterpillar . High 50s to 74. Has that been done . David blaines in charge there . Love that guy. Would you buy it here . They preserve that. You mentioned chevron. Cutting the Capital Spending budget for next year after exxon did the same. Amaze. Targeting 17 to 22 billion in cap e x. Already cut 25 for this year. As you said the dividend. They love the dividend. The stock has done better than most of the stocks. This is a well run company. They are so pro shareholder and they have the ability to do this. By the way, they have had so much thats come online in the last year. Mexico. Very Different Company from, say, lin energy or energy 21. Sand ridge and chevy ron are not in the same universe. Not in the same galaxy. You could go through a black hole and get from sand ridge to chevron. Someone said i recommended chesapeake. I said chesapeake should sell 100 million shares. Thats not a recommendation. It is an idea for them to sell equity. It was as low as 1. 50 in a short altimeter of time. Wouldnt you call the guys and say, listen, how about 100 million . Absolutely. They should sell stock all day long. At night, too, in japan. They should never stop selling stock. I know they should still be offering chesapeake. Well get to more on that. I will talk about shake shack in a minute. Down 3 after weak guidance today. Gold mans chief u. S. Equity strategist. Last time he was on he said the buyback window had opened for stocks. Is this still the case . What does it mean for equities in the next few weeks and months . Take a look at the premarket if the s p can manage a gain today, thats the first sixday gain since june of 14. Back in aint many. Sales event is on. With extraordinary offers on the stylish, allnew rx. And the dynamic nx. This is the pursuit of perfection. Whats going on here . Im val, the orange money retirement squirrel from voya. Were putting away acorns. You know, to show the importance of saving for the future. So youre sort of like a Spokes Person . More of a spokes metaphor. Get organized at voya. Com. When youre on hold, your business is on hold. Thats why comcast business doesnt leave you there. When you call, a Small Business expert will answer you in about 30 seconds. No annoying hold music. Just a real person, real fast. Whenever you need them. Great, thats what i said. So your business can get back to business. Sounds like my rides ready. Dont get stuck on hold. Reach an expert fast. Comcast business. Built for business. Big earnings movers starting with shake shack. The outlook comes in shares down 8 . Urban having a good day surging after better than expected results. Unseasonably warm weather hurt dicks bottom lines. The Sporting Goods retailer missedest mats by two cents. That will open down 3 today. Shake shack had a great quarter. You still have numbers going forward. 2. 5 to 3 guidance. Thats worse than mcdonalds which sells for 23 times earnings. This one sells at 70 times earnings. Urban, the story is not the apparel but the home category doing well. This is something the dean from limited says is really good. Intimates, i know you are focused. Its double digit. Dicks, minus 2. 5 . Unseasonably warm weather. They have 9. 8 increase in inventory. Good news for tjx and raw scores. That will buy the inventory. You are coming out favorably on the shack though the guidance isnt good. I would recommend it. Its so crowded. They cant keep up cleanliness. It was distressing. We couldnt eat down stairs. Gave the ceo a hard time. That was the neighborhood. Then we decided to leave the restaurant and they forgot my sandwich. I got home and had no chicken sandwich. Peter lynch school of thought, you go home and short the stock. By the way, you would have been good. I would have made back the money i lost on the chicken sandwich. All i can say is we cant short shocks. Its replicated throughout the chain, not. But the popularity is extraordinary. The pattern is good but too expensive. The stock may go higher. Thats a bad problem. When i know where you are going. I said to clean that up. It was spanking clean the next time. That 77th street gold mine. Keep it clean, guys. Across the street from the barclays center, excellent. The one in the heart of brooklyn, terrific. Shake shack down here at goldman is nice. Jfk, extraordinary. Its one thing to manage restaurants in a town. Harder to do 150 across the country. I should take pictures, put them on the website. Litter, trash, all that. Youre something. Im not a curmudgeon. I want to clean up new york. Chipotle is getting better. I dont know if you got a free burrito. I havent gn to a chipotle. You were there. You were loyal. The whole time i went to chipotle. I never lost faith. Never. I think deutsch put a sell on it after that run. They dont believe its real. The lines are back. Jack hart telling the cfo they brought back hundreds of thousands of shares. Millennials think they can get cancer from chipotle. They are not as concerned about e. Coli. By the way, my chipotles are sparkling clean. They are. Dont trash them. Are you an a now . A. Chipotle goes from c to b. When a student goes from b to an a, fabulous. Well eel get cramers mad dash. Take a look at the premarket. A lot to get to including politics. Youre an at t Small Business expert . Sure am. My staff could use your help staying in touch with customers. At t can help you stay connected. Am i seeing double . No maam. Our at t buy one get one free makes it easier for your staff to send appointment reminders to your customers. And share promotions on social media . You know it now im seeing dollar signs. You should probably get your eyes checked. Good one babe. Optometry humor. Right now get up to 650 in credits to help you switch to at t. This bale of hay almost derailed the ranch. When a wildfire raged through elkhorn ranch, the sudden loss of pasture became a serious problem for a family business. Faced with horses that needed feeding the owners were forced to place an emergency order of hay. Thankfully, mary miller banks with chase for business. And with a complete view of her finances, she could control her cash flow, and keep the ranch running. Chase for business. So you can own it. All right. Its time for a mad dash. Mad dash time this tuesday. Man, things are moving fast. They are. Solar city is where you want to go. You wont play there. No. Aint going to play solar city. Thats a reference to sun city. Solar city is a heavily shorted stock. A Sister Company as we know. Im sorry. To tesla and musk. Here is the problem. The stock has been down after the quarter. They announced a deal last night that whole foods put a hundred solar city hundred stores. With panels on them. People say its like when value did a deal with walgreen. Legitimacy by whole foods which was up huge yesterday. Take over rumors i dont think would happen. This will get it going. What we have always been with is 50 million in the u. S. We have been waiting for the big commercial deals. Whole foods a is a specific target given the Customer Base and Everything Else thats important to it. Yes. Its sustainability. Thank you. I would point out that the shorts have been all over the stock. Everything that the shorts have been all over they are getting killed. Heres one my Charitable Trust has owned. Its embarrassing. Morgan stanley goes hold to buy panera bread. Theyre working but the Restaurant Group is hot. Hot, hot, hot. Wow. The stock will go much higher. You have been positive on it. Certainly said stand by, everybody. Panera 2. 0. It works. Their Line Management is better now . Throughput. It matters. No problems there. We have Gordon Bethune on . Yes. And they dont like thats not clear. Welcome back oscar . Welcome back. Im struggling. Hes no grouch that oscar. We have the opening bell after this. Here at td ameritrade, they work hard. Wow, that was random. Random . No. Its all about understanding patterns. Like the mail guy at 3 12pm every day or jerry getting dumped every third tuesday. Jerry every third tuesday. We have Pattern Recognition Technology on any chart plus over 300 customizable studies to help you anticipate potential price movement. Theres no way to predict that. Td ameritrade. Frank abagnale. Convicted felon and con man. That was a long time ago. You know, they made a movie about it. You were shown to be quite skilled at fraud. Times change. Now i help catch the bad guys. Me too. I help banks detect fraud by applying cognitive analytics to public financial records and social media. So if somebody said, catch me if you can. . We can. Lets do a sequel. It could be a buddy movie. I would like to have a buddy. The opening bell is sponsored by power shares qqq. Leading the intelligent etf revolution. Youre watching cnbc squawk on the street live from the Financial Capital of the world. The opening bell in two and a half minutes on tuesday. The big part of the story is news from china. Exports down 25 for february. The estimate is down 14. Imports down not as much but below expectations. Shanghai managed to close flat. A lot of there is comps with the Lunar New Year a year ago. Not exactly. City. Le its been going up. A lot of the exports go to core i cant and germany. To europe. Europe is what we hear. Its just not doing a lot of business. Also remember they are trying to do more. But these are startling numbers. We have this great weekend where the legislature was talking about change. I dont expect a hard landing. These figures are hard. This comes out, are you kidding me. Another negative call on cars. Automation to a sell. You talked about the sell on gm. This is about used car sales. All i can say is look at ford. Mark fields came on mad money when the stock was at 11, 12. They said, people are too negative. When you average the chinese months, post lo nar you get good numbers. By the way, well get the opening bell in a minute. It was on this day in 1817. Nyc organized with a constitution for the new york stock and exchange board. 199 years old. [ applause ] wow. Can you get me in . I think. Well find a way. Slated to go in april. [ bell ringing ] [ cheers and applause ] theres the opening bell at the big board. Its women in etfs celebrating International Womens day over the nasdaq. Maker of chips technology. There are seven companies with no women on the boards. Only seven in the s p 500. Yes. I think there was a study done in terms of slates and why women show up on the proposed nominees. Any times. From ual. Actually, you know, thats not true. It does have women. Let me get my notes. Santoli chimes in saying some parallels to john mac, morgan stanley. You have been breathing about the health care. Still too early. Whats a little too early. John mac is getting involved. Carls point is interesting. Bethune jetblue. They have a lot of cash flow there. The stock isnt coming back. It is a hated stock because of the problems with the chinese. I like avago and skyworks. These are plays on apple. Obviously today apple is down. They hate tech today. You have not been particular ly. Theyre trying, david. Has time passed them by . I dont know. They have tried to return capital to the shareholders. They brought stock back at higher levels or a good altimeter of it. They did. The activist is gone. They said see you later. Their chip set is considered the best. There are stories about cte, the chinese hand set manufacturer. Yes. Number four in the United States but concerns they may face security issues. The stock has made quite a move. Youre comi