No deal, Canadian Pacific walking away from the Norfolk Southern bid after norfolk resisted talks forever. And another Company Reportedly enters the fray for yahoo . The ted line for bids this week. Stocks are looking to rebound for the worst week since february. Alcoa due tonight. The president set to meet with fed chair yellen today to discuss the economy and wall street reform. And la and larry fink saying certain actionsi actionsi actionsi may lead to reduced spending and growth. An echo of what hes said in the past. Right. I think that were getting actual success in europe. No one seems to recognize that. I think three months from now, germany will say enough is enough. We want rates to go higher. Germany will prevail. The numbers that im getting, car registrations, employment, pmis from europe, theyre all strong. I think this is a backward looking letter. Really . Yeah. Other than japan. Japan, i dont know. I cant figure them out. Nothing seems to work. Tenyear negative 0. 796 for the japanese tenyear. It is still negative. They should just go buy gold. Thats what do you when you have negotiate stiff ra negative rates. Everybody who tried to get their currency down is losing now. Theyre losing because the wo worlds had enough and janet yellen had enough. I think that theres a we better start taking janet yellen on more seriously. I get the sense a lot of these i will Say Something that i spent the weekend with my daughter. Yes, you did. In new orleans. My daughter says whats the deal . Is she because shes a woman . Whats the deal . How about a little respect. Really, you feel like its a gender issue . That it would be different . You do or your daughter does . Im heavily influenced by the idea that shes so easy to be run over. They dont feel that way about others. I do believe europe is coming back. Were three guys, theres a lot of guys in the media. Theres a woman who does criticize yellen who is on the fed. Is anyone listening to what shes saying . Shes saying enough currency devaluation. I think europe is about to have a major breakout in growth. China is about to have a breakout in growth. Your point to fink or to big gross in barrons, they need to see normalization in the next one to four years, your point is were on it . The fed is on it . Is that it . You think well see a break out of growth in china . Yes, im seeing baltic freight up over 500. The stock market there is on fire. Stock market on fire doesnt mean there will be growth there. Thats a part of why wholesale inflation not great but narrower decline than we thought. I think valet, not the valet i use when i go out, but the iron company, theyre a great way to measure china. That stock is one of the best performers of the year. I see green chutes in china and in europe. More than green chutes. Im not talking about the lines at the new strasburg starbucks which were equivalent to pirates of the caribbean on a heavy day. Starbucks is bringing their roastery to new york. 20,000 square feet. Saw that. I assume mad money may go live there on day one. I may go there today. It will not be ready for a bit. Its across the street from google. I hear google has okay coffee. They have a lot of stuff there. Snacks everywhere on the west side. Its free, you cant beat that. There is free versus having to pay. Really . Yeah. All the food is free. Really . Yeah. Everything. Jim when i went there to visit, this, too free . Really . Lets pivot to earnings. Alcoa tonight. Banks starting in the middle of the week. We know how much expectations have come down. Third quarter expected of negative growth for 7 to 10 sectors. Sandra oneill downgrades wells fargo today, thanks for nothing. At a certain point, you get a valuation kick in. They wont all hide in mastercard. There is a degree of which a bank does not lose money. Rates did go up and by the way, i dont know if you looked at how much you get more after rates go up. I didnt get anymore. Im arguing with my bank right now saying why cant i get a little bit of a bump after the fed took up the rates . I feel like im arguing with an atm. Listen, atm the atms are not responding. Not like talking to a person who wouldnt respond. Its more of an insult. I think the banks are going to do badly, Everybody Knows it. I see hertz came out with a bad number. If you ever heard of uber and alcoa will be horrible. There. Alcoa is splitting. Right. You covered earnings season for us now. Im done with earnings. Alcoa horrible, banks priced in. We already know hertz if everything is horrible, its probably less than horrible. If you take everything to a super strong sell, like price target you think sentiment is getting negative here . He just summed it up. Were at 20 valuations are year to date highs, youre saying all this bad sentiment is washing through . Im saying i see the dollar weaker against the yen. Dollar weaker against the euro. If youre a cfo, youre not going to be able to be as negative as you were. When ibm reports, they will not be in that mode which says, listen, in real currency we would have done not as horrible as we were doing in not real currency. You know, currency all of which says what . I want to own this market . That the International Stocks may be stronger than you think. Domestic ones. Do you see that gap stores number . Yes, we did. Wasnt that something . People do not go there . If old navy continues to crack, that has been the saving grace, the last couple years. I know. We talked about this. Mall traffic. Thats i didnt think elle brands was that bad. Sears is putting together a new facility. Are they really . Yeah. What is that facility. An iou from eddie lampert. Iou nothing. That guy could have created a lot of value if he had gone down a different road. If he bought amazon . If he had just been a hedge fund manager, perhaps. Because you havent shopped at kmart lately, you dont know what kind of blue light specials they have. Its sad to watch. Are you sad about it . Not really. Another big story, Canadian Pacific announcing its ending efforts to merge with Norfolk Southern saying they see no friendly path to merge at this time. Here we are again with a different method, but still a deal that was going to happen, maybe, then didnt. Yeah. I think saying it was going to happen, maybe, is a stretch. This deal many people knew it was dead. Its news that cp says were done, but frankly most people involved in the marketplace, which is why you wont see major reaction in either stock, knew that this deal was done the day it was actually announced as an intention on the part of cp to try do somethinto do something. They never talked. They said there was not a chance that a tier 1 merger would be allowed. Both Companies Considered tier 1 in terms of railroads. If they were to have gotten there, there would have been better merger partners from Norfolk Southern. They were never under any threat of this deal occurring. The only question is why cp kept coming at them. They tried different structures. They were going to put everything in a trust, it would sit there for a long period of time as regulators did their work. Its extraordinary the day the story broke, i was sitting next to you. Stock at 97. You said this is dead on arrival what was dead on arrival is everybodys capital who bought it at 97. It was rather extraordinary. It was almost like a hoax. You remember hudson hoax in 1980 1990 something. Somebody mailed a letter saying were bidding. Somebody called dow jones from a pay phone. Classic. Back in the days when you could do that. One of these things that immediately people said hold it, are they doing this ahead of csx reporting this week . Maybe theres something going on at csx. The question continues to be for Canadian Pacific, which is still a large holding of bill ackmans and pershing square, hunter harrison, their ceo what do they do next . What do they do in their attempts to put together some sort of rail that spans the nation. Not clear they can do much of anything. Can they do earnings . Maybe. Thats an oldfashioned way. I hate to just resort to something that 6,000 companies resort to. I think earnings could play a role. Yeah. Stock nowhere near its low. Nowhere near its high. Certainly not the worst performer for mr. Ackman. He has plenty of others that dont look as good. Coal has fallen off a cliff, but this crude by rail has not stopped yet because they signed yearlong contracts and twoyear contracts. Dont look at crude by rail as something that will hurt them this quarter when csx reports this week. Thank you rbm for that. Coal is the story. I saw a coal barge this weekend in new orleans it was not coming upriver. It was going downriver. It was reverse apockhorror. Yes, brand do. All one story. When we come back, a lot more of this mornings movers. Former italian Prime Minister, mario monti is with us. Well get his take on the challenges facing europes banks. Does he think draghi is on the right track . We have yet to put together two days of gains this month. More squawk on the street from post nine in a minute. Its more than the cloud. Its security and flexibility. Its where great ideas and vital data are stored. With centurylink you get advanced Technology Solutions from a trusted it partner. Including cloud and hosting services all backed by an industry leading Broadband Network and people committed to helping you grow your business. You get a company thats more than just the sum of its parts. Centurylink. Your link to whats next. Britains daily mail may become involved in a bid for yahoo . In a statement a spokesperson says the company that been in discussions with a couple different bidders, but its early stage. Those bidders taking the form of private equity firms which may team up to make a bid for the core operations of yahoo which as viewers know, are for sale. Firstround bids are due for next week. Its just firstround bids. Were talking about a process that will go on for two months. It does appear now to be a fairly broad process in terms of the interest of parties who might want to make a bid or show intent to do so. But it doesnt mean at the end theyll end with a group of bids. And frankly other than jeff smith who is leading the activist campaign to unseat the board and a number of publications out there that seem to report on nothing but yahoo im not sure there are many people who care. Wow. You mean other, like, the verizon world or viewers . I think viewers and investors. If you get a surprising number here, that here, that certainly could move the stock. Private equity is a difficult move for them. In part because of the comp thats delivered now to yahoo employees in the form of equity. So when youre a private equity bidder, you have to slice out some of your own equity to give. The equity check itself would be large. If verizon wants it, verizon will take it. Its just the number. Theres a lot of complexity with the yahoo japan stake thats out there. Unclear what will happen to that. If that will be kept by whats left behind. The alibaba stake the key part of that. Im just saying that every last move of yahoo is not potentially of great interest to the investing public. When the day comes that there is a potential sale, we can tell people about it, certainly that will be news. When you interviewed the chairman and Marissa Mayer in that lets say somewhat subdued interview, did you detect that anyone is really in charge to be able to say were for sale or not . Arent you either for sale if you have a house and you put up a sign that says were for sale maybe. The board is running this process. We have to ask our wife that kind of thing. Theres not a sale, but inquire within. There may not be unanimity of purpose between the ceo and the board. Thats fair. Shes running the company. The board is pursuing a sale of the core business. Bankers are reporting to the board who are dealing with that sale. At the same time they are also dealing with that proxy fight from mr. Smith. Right. Would seem they have the opportunity to conclude the sale of the core business prior to when that proxy fight would end. Meaning before a vote would be taken of yahoo shareholders. But, you know look were going to live with everyday stories. This ones bidding this one is not. Youre saying its cocktail hour. Yeah. Yeah. The keynote is not until the summer. Probably not early to midjune is when well get a sense of if somebody is left standing there and what number is. And what the board chooses to do when they get the real number. Okay. So how does it work . I wake up this morning, and i see the daily mail. Will i wake up tomorrow and see meredith . Tuesday maybe back to time . You may. Is it reporters calling and saying are you interested . These are firstround bids. Having followed a number of auctions in my time, its not indicative of where youll end up. Why not take a look. Lets do a story that says whos not interested. Google is not interested. Last week there was a piece about paypal. Im not going talking about a p said google is not interested in paypal. No one said they were. Google didnt say. Alpha beth, ruth porat. Maybe we should call Great American and just get a solid denial that hes not interested in yahoo my guess is there would be a Major Technology deal of importance that comes between now and when yahoo gets sold for 5 billion. You think we could call jenny Rometty Watson may want to buy it. Watson knows all. Just ask watson. We dont need us. Just have watson. Youre back to artificial intelligence. Scaring me again. A. I. When we come back, cramers mad dash, at least for now still done by a human being. Well get the opening bell. Futures look okay as we kick off this busy week. Glasses . They are. Do i look smarter . Yeah, a little. Youre making money now, are you investing . Well, ive been doing some research. Let me introduce you to our broker. How much does he charge . I dont know. Okay. Uh, do you get your fees back if youre not happy . dad laughs wow, youre laughing. Thats not the way the world works. Well, the worlds changing. Are you asking enough questions about the way your wealth is managed . Wealth management, at charles schwab. Unlimited data from at t means you can stream it all. Like that Anthony Michael hall movie where he fights with the girl. The one where he gets rejected by the girl. Even stream the one where he creates the girl. With unlimited data, you can stream all the Anthony Michael hall movies you want. 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Hertz, jim, has been theres always been hope in the Hedge Fund Community for this stock, its gone ever lower, way back when it was spinoffs, a new ceo, the old ceo, they didnt like him. Then they got rid of him. Its coming back. Its a spelling problem at this point, david. One of the reasons why its this bad, they talk about pricing pressure endlessly. Further intensified in the First Quarter of 2016. David, i think uber is playing a role with everything. Every time people ask that, they say shortterm rentals were doing fine. I cant believe thats the case. They have to Say Something. How many people go to their phone for a oneday business trip as opposed to renting a car . What you have to do, the only way to defeat that is through corporate sales. Avis is winning in the corporate sale battle, i believe. So i think this is a challenged group. Not unlike the auto companies. All of which are dealing with uber. The failure to acknowledge uber shows their head is in the sand. Theres obviously something wrong. The government allowed all these mergers, completely anticompetitive mergers, it meant nothing. Everybody thought it would help enormously, have huge pricing elasticity or pricing power. What they did, they dot everybody raised prices. He hertz and avis. We have that uber app. Hertz charges you for gps. I got gps on my apple phone. Plus you still have to return it and take the bus. Who wants to do that. The whole thing is unsatisfacto unsatisfactory, versus uber, which i love. The opening bell on this monday coming right up. Great time for a shiny floor wax, no . Not if you just put the finishing touches on your latest masterpiece. Timings important. Comcast business knows that. Thats why you can schedule an installation at a time that works for you. Even late at night, or on the weekend, if thats what you need. Because you have enough to worry about. I did not see that coming. Dont deal with disruptions. Get Better Internet installed on your schedule. Comcast business. Built for business. Jake reese, day to feel alive jake reese, day to feel alive jake reese, day to feel alive but they demand the best shopping experiences. They may want the latest products and services, theyre your customers. And by blending physical with digital, cognizant is helping 8 of the 10 largest u. S. Retailers meet their demands with more responsive retail models. Ones that transcend channels and locations, anticipate expectations. Creating new ways to engage at every imaginable touchpoint. Its a new day in retail, and together, were building the store of the future. Digital works for retail. Lets talk about how digital works for your business. Youre watching cnbcs squawk on the street, live from the Financial Capital of the world. The opening bell in over a minute. We start the week that will bring the unofficial start to the earnings season with alcoa tonight, banks later on. U. S. Inflation data. Got chinese inflation data over the weekend. The big opec meeting is sunday. Reuters today, jim, saying according to q