Board seat hes going to join us for a live and exclusive interview in this hour. Blue apron down almost 7 this morning as the stock is further from its ipo price a lot more on jeff besos competitive muscle. Stocks are looking to make more history 68 in total and next week will be even hotter. Make or break and some companies are real stand out i look at microsoft and think they can deliver theres negative commentary about ibm. Obviously this is the last Conference Call for ge lets see what they have to say. This is a make or break week it always has been this sets the tone for the quarter. It is a kind of remarkable time because a lot of these companies are very international and we have really good numbers out of china last night europe is coming back. Some will be saved by overseas retail sales over there. The estimates though, 68 for the quarter. It was 66 at the beginning of the quarter so we havent had them as they normally do. No, thats a big change the domestic economy is stronger and by the way theres tech stocks that wont quit we talk a lot about them thats really important. Theres a price pump today and elon musk warning us on Artificial Intelligence and job replacement and its going to be pretty incredible. I think the Governors Association where he in no Uncertain Terms said it represents a real threat and we need regulation of some kind and i dont want to take anything away from the leader of our states but maybe not on data somehow i doubt it. No and ai still stands for alan ooiiverson. Were in a strange juncture. Tech has been fabulous but industrials have been fabulous and the drug stocks have been good if oil were to catch a bid which is happening because the minute tral stocks are so strong you could see a nice upside. Jp morgan, i refuse to jump on jp morgan however there was a curse word on the Conference Call. We spent a lot of time on that why was city the stand out why theyre performing at four times the gdp. Talking about you. He seems to be saying he is right. Hes keeping it all business and dimon went outside the bounds. Its refreshing to hear a ceo comment about washington but when you got that giant sales and trading business well see from goldman city deemphasized that business a long time ago. Youll agree its more porn u. S. Leadership in the world, gridlock and policy errors i have been waiting for someone to speak out saying our country is an embarrassment we spent a lot of time in london recently i know he heard a mouthful hes not delivered. No john has been very focused on tax reform interesting this morning. Reporting that the administration is going to start to unveil a true tax reform plan. Yeah but still Health Care Just out there. Not going to get this much either. If we got tax reform the company would do so much better. There was a moment that is listen if you wanted the economy to grow faster than 1 to 2, we could have much more and he said much more to immigrants and first time buyers. It is the people that were struggling i liked that much. We missed you friday. You cant do that again. Im going to cancel friday. Hes going to though. Hes planning on it. Hes going to miss a couple. Right now ill tell you i wont. How is that . I feel bad. The man doesnt have that much time left. Youll have another big story to cover thats according to a regulatory filing owns about 3. 3 billion in stocks is the Consumer Products maker and consistently underperforming relative to peers and using market share the move makes them the Largest Company ever to face a proxy battle and well have the interview later on this hour hes underperformed the snp for the last ten years. The total return numbers are fairly negative. If you go over the last quarter, Procter Gamble theyre trying to be able to reduce costs but when you look at the organic growth i think its grooming you can see how unilever has done much better and theres a case to be made not really in nelsons page but about emerging growth its been unilever sarah is on vacation and shes from cincinnati. The reason i mention that is not to be funny but theres an emphasis that perhaps proctor is not worldly enough. And or whether they have access to talent or enough of it as a result of where they are. No one wants to take a shot at ohio or cincinnati but thats been an argument what people are also questioning or want to understand here is why fight here if youre Procter Gamble you have nelson peltz trying to expand the board and he wants to add him and keep fern he would be replacing by just increasing the size of the board. Hes not saying he wants to break up the company hes not saying that he wants the ceo replaced this does come after what i am told are relatively friendly engagements that moved along so i have asked that question heres the answers that i have gotten p and g felt as though he wanted a promise on an eps number is and they do not want to go to that level they have a lot of fluctuate each quarter seems to be impacted 54 cents last year if i recall and something along the similar lines in the past. They feel as though he has not been a shareholder long enough to be able to ask for what hes looking for although frankly they also admit he hasnt had a white paper as often as the case they put together a very long statement of what theyd like to see happen think ge for example thats not the case here so theyre saying well we dont really understand exactly how youre differentiating from the strategy we already have in place. But nothing different than were already doing. You would change dynamic on the board of directors and you have only been with us for five months on the shareholder. We want to maintain the flexibility that we believe we need to pursue the longterm plan for this company by not being tied to eps number that we have given you in terms of products thats seems to be why they decided strangely enough fight this is going to be potentially a referendum on the new ceo mr. Taylor its going to be distraction you do wonder why they have chosen to do it. Those are at least some of the reasons. I did a recent round table. They were so happy to have it in there and i tested this he was happy to have him on but he was not. The counter argument would be youll always see positive statements having to work with the Board Members but when you look at the underlying performance of the companies did heinz improve the basis points it said it was going to. Maybe once they got bought by 3g. Theres a lot of back and forth about how effective it is although youre right our experience has been when we speak to other people although i havent spoken to as many fellow Board Members that its been a positive one which goes to why not just say sure. Proctor has a plan in place but you have to question are they growing in key categories and what is really going on with gillette whats going on with gillette . Right margins are pressure. Dollar shave club i know many of us that use it are thrilled. When you look at mondelez heinz nestle is there something about food and staples that draws in activist more than any other sector theres a sense that all of these companies have challenge growth so they better take down their costs really hard. At the same time if you talk to ben thats been the best thats clorox, much higher multiple what he would tell you is these must be more technologically oriented and you have to be able to spend where the consumer is we have improved at 26. 1 as of the last fiscal year we do have a plan in place to drive down costs and use the money to reinvest in the business and drive down organic growth. The counter argument is you have a 10 billion Cost Cutting Program in place previously that didnt seem to benefit the bottom line at all i did not like what he said in the last quarter which is what do we face slow Market Growth geo political and economic stability. There is the problem with the stronger dollar. Rising commodity costs i challenge this did fwrks eo political and economic stability really impact press . Is that really what is involved . I dont know. Currently impacts on eps fiscal 14, fiscal 16 is 35 cents. Okay. P and g did have a statement in response to all of this. P and g has maintained an active and constructive dialogue with trian since it made its investment in the company. Theyre driving innovation and accelerate organic sales and volume growth and improve productive i think you will be distracted this will be the talk of a long time he had some good ideas when it came in to heinz and i spoke with mr. Johnson i have spoke with a bunch of people on that board of heinz. They love it. I know. I will say this for now both sides arent saying theyre going to keep it its going to be a cordial fight. But ge they said listen you shouldnt focus on proctor and i hope that proctor is good dividend yield excellent cash management. But holy cow this is a different order entirely. Its fair to say theyre facing a fight here on the road ahead for rates and the economy and yellen look at the market economy coming off the year. A third of them have come on friday so far this year. Were back in a minute. I have to work friday hey gary, what are you doing . Oh hey john, im connecting our brains so we can share our amazing trading knowledge. Thats a great idea, but why dont you just go to thinkorswims chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders . I know. Your brain told my brain before you told my face. Mmm, blueberry . Tap into the knowledge of other traders on thinkorswim. Only at td ameritrade. We created the ripple the doughnut in a doughnut in a doughnut. Right away, it was a success. I mean, it really took off. What people dont know is that it all started with points from my chase ink card. I bought the ingredients, utensils, even custom donut cutters. Wow all with 80,000 points. What will you create with your points . Learn more about the ink business preferred card. Amazon is preparing to enter the market revealing such a plan in the trademark application theyre down sharply falling further below the ipo price of 10 we do the prep you be the chef. Thats what the sunday times says this application reads. We do the ipo you issue this after blue aprons challenge is looking very jenga like saying its still too early this was one where i could not figure out why did they race to get this deal done would they have known . I think it was reasonable to think that once amazon gets whole foods this would be natural. Why not . It was about having 1,200 stores where youll get this and amazon is, you have to hope you dont wake up in the morning and see amazon decided to get your business i think its very significant. I think that blue apron will be struggling mightily to keep its business primed and makes it so you dont have to pay full. What was the alternative though stay private. I think so. And now its done a substantial valuation versions this one. I know but then again the people that bought it, they did still, look did blue apron do great . It was absolutely great for blue apron. Not as positive for the people that bought blue apron. We still have a very strong growth rate. They go through the Customer Acquisition and then customers dropping off and having to get new ones is the key of concern the rate of growth it was a very crowded business a lot of people thought grub hub would be annihilated so im routing for blue apron. Were going to get cramers mad dash in a moment countdown to the opening bell. Well get to another call on amazon as they take their target to 1,200 and then later on this hour an exclusive with nelson peltz that spushing for that se seat on p and gs board. And the wolf huffed and puffed. Like you do sometimes, grandpa . Well, when you have copd, it can be hard to breathe. It can be hard to get air out, which can make it hard to get air in. So i talked to my doctor. She said. Symbicort could help you breathe better, starting within 5 minutes. Symbicort doesnt replace a rescue inhaler for sudden symptoms. Symbicort helps provide significant improvement of your lung function. 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To make sure that you identify where your utilities are if you are gonna do any kind of excavation no matter how small or large before you dig, call 811. Keep yourself safe. Six minutes before we get started. Trading this week. Reported executive change. Someone you noel that had a big job on the west coast. Yes, charlie sharp joins bank of new york melon. The stock is up 10 for the year its not underperformed but charlie sharp built visa into what it is i think charlie would admit to that but he gave him a really good hand. I happen to think that charlie is one of the most forward looking ceos not just in banking but very much of it intellectual and also a tough negotiator. Trian had a very big position. It did. So i have a sense that theyre pretty excited when you meet with executives you are so blown away by charlie and where he is versus others in terms of technology, in terms of vision he wanted to be back in the east coast and going back and forth. This is obviously geographically desirable. Some people were trying to take issue and i said shut up. This really proves he likes to be home and that visa job requires being out of the United States most of the time. Because visa is truly trying after they bought europe and you know theres big chinese negotiations back in new york very solid franchise. Really terrific over many years almost 2 on that announcement this morning. The opening bell and dont forget the live interview with forget the live interview with nelson peltz just a few minutes the secret is an ingredient originally discovered. In jellyfish. In clinical trials, prevagen has been shown to improve shortterm memory. Prevagen. The name to remember. Away he has some really good things to say theres a very extremely negative note about ibm. You just cant be there. Its very interesting. Lets just say theyre talking about lower, take down your growth so that and admit to the issues you have. Its a very big week by the way, another big pushes on microsoft really seems like broken out here. Lets get to the opening bell the big board today. Ringing the bell in honor of their 100th anniversary at the nasdaq bank of the ozarks and Regional Bank leading the bell nice bullish call. Starting to recommend some of the stocks with green briar and gatx i wonder when will that trickle down to the ge Locomotive Division which some people including nelson peltz have suggested. Perhaps thats not a Growth Business but they have very much involved with international trade. Yeah you on friday missed lorenzo from ge baker hughes, the new. That will teach you. Talking about the oil and gas business. I may not have been here even if i had taken the day off i could not speak on friday morning which my wife was thrilled about but you guys would take negative. By the way, up a percent and a half as people talk about whether or not they have finally found their legs again here. I think oil can go. Didnt take down 43. I think it can go back to 50 at the same time that is the five years futures curve its always hard to get past there because so many of our Oil Companies then start selling futures furiously in order to be able to make their cash flow projections. Finally on ge we have been talking about them all morning but it will be interesting to see if, in fact, at some point a board seat does materialize at ge. Theres talk of that. Where one would expect they would not necessarily fight given a brand new ceo unlike what theyre doing at png. Mention Procter Gamble and the desire to have any target. Remember the 2 price. At ge you mean. Earnings per share at ge thats not materialized. I know they have said point blank not that happy with whats going on there you could recognize theres no reason to be happy. Not with a 26. 73 cent stock price. Thats not easy. Down 15 plus percent this year at ge. Verizon and ge have been terrible anchors. Horrible. We mention blue apron and amazon in the last half hour ubs did take their target from 1,100 to 1,200 as they refresh their earnings model looking at what theyre calling increased shopping velocity among prime members. Not to mention aws dominance and the idea that investors are going to focus more on opportunities than costs in the back half. I think thats true amazon, they play with it different. We used to think they play with it and many people actually think that Amazon Web Services is the real jewel but if that is the jewel its the front side that you see as a user weve all come to see amazon as i like the term eco system. How many times a day or week are we on amazon im on it probably five times a week they didnt do as well as i thought they would. No, we talked about that on friday. Is there something that you didnt talk about that i can weigh in on. You missed it all. We named our dogs invidia im going to ungauge it all weekend everything thats my dog. What your dogs name is. He was chopping at the bit all weekend. He wanted the market to be opiate but i couldnt have that happen. Are you now watching the price of bitcoin today as proxy for amd. Yes and im surprised its hurting amd more than invidia. It has a far more broader pull because of Artificial Intelligence people have been playing it. They have to be concerned. When you introduce Something Like that i happen to like them as a competitor to intel there are other forces but they did get caught up and bitcoin seems to be plummeting i dont