Million super pac to Push Congress to reform Corporate Tax. Lets check in on u. S. Futures. On this thursday morning we have a higher call from markets. The s p 500 the implied open is telling us well be up maybe two points. Dow jones industrials should be gaining by 20 points. Were pricing in close to 10. 5 points. Its a mixed picture out there. The ftse 100 here in the u. K. Were down. 5 . Meantime the german dax minimal games. The cac 40 in france not going anywhere and the ftse mib pretty flat. The follow through thate saw from the asia session. Lets take a look at individual stock movers and strg demand, yes, Strong Demand in europe and china boosting profits at daimler. Logging record sales in the Third Quarter driven by new model launches. We also have swiss pharma giant roche in the news after beating targets on the first nine months of this year. The ceo said he was positive on the companys drug pipeline in the future and publicis, the ad company is cutting its 2016 sales target after Third Quarter revenues took a hit of weakness in the u. S. Market where the ceo says the performance was simply not as good as it needed to be and then we got a mixed set of output figures from anglo american. They would delay a major Platinum Investment and also cut diamond production because there isnt enough demand, believe it or not, carolyn, for a womans best friend. Thats disappointing, isnt it . Lets move on to ebay. Ebay proving it is on solid ground after its split from paypal. Stock surged about 9 in after hours trading after topping wall street earnings projections and raising its outlook for the year. The auction site continues to grow without paypal. There were 2 million new active buyers on the site in the Third Quarter. Still profits are shrinking after they face more rivals such as amazon or etsy. Its profits fell to 539 million. Now American Express shares sank 3 in extended trading after missing on the top and the bottom line. The company said its Third Quarter earnings fell due to Foreign Exchange head winds and a rise in marketing spending. Revenue from International Operations fl 11 . Lets talk about hedge fund activist investor bill ackman. Hes building up his stake in Valeant Pharmaceuticals with an additional 2 million shares and his hedge fund is already one of the largest holders in valeant. His move comes as more than 39 on a negative Research Report from citron accusing valeant of fraud and channel stuffing. They called the report erroneous saying it contains misleading statements. Ackman Still Believes in the Company Despite these claims. This report looks back to a Specialty Pharmacy and basically theyre saying that valeant has an option to buy up more of this specialist pharmacy. Im going to try to pronounce it. Hopefully i get it right. But its filadore i think is the name of the company. Ackman himself had a long standing relationship with valeant. Part of that attempt to buy up allergan with that takeover offer rejected in the end. They lost 9. 4 so far this year. Ackman lost 500 million in yesterdays sell off in the stock and so far this year he is down, i believe, 1. 4 billion in terms of his bet on valeant but hes not the only hedge fund thats doing really poorly this year. Other high profile hedgefunds like Green Light Capital are down 13. 3 in the Third Quarter. I mentioned others. Glenn View Capital Management is up 13 and yesterday Greenlight Capital, susan, you pointed out that letter to me. They say they want it a little less hard and they have been hit so hard by some of their biggest positions out there. Console energy, sun edison, microntech. It has to be hard right now. Many of them are are doing poorly. I was taking a look at that investor note and the partnerships involved with Greenlight Capital returned some theyre down 14 in fees and expenses but its interesting theres different plays on energy because on one hand they have oil and gas and theyre going solar and wind. So, you know, i guess you have to hedge that portfolio, dont you . Still a pretty tough environment from any of these. But should we feel sorry for them . Probably not. I dont know. Lets have a look at the euro dollar, the euro is trading lower in anticipation that mario draghi will only hint at further stimulus stopping short of any further action. Euro dollar currently at 1. 1308 off by a quarter of 1 . Inflation data continues to disappoint to the down side. A reuters poll shows 70 of respondents expect the ecb to extend its Asset Purchase Program beyond september of 2016. Lets talk about billionaire investor carl icahn. He has an interesting move and comments as well. Well be talk about inversions in just a bit but carl icahn weighing into the fed rate debate and he said the central bank is harming the u. S. Economy by failing to hike. We dont have limited government in this country. What you really have done is put all the power with the federal reserve. Federal reserve cant do it themselves and they admit it. They are single handedly holding our economy up with zero interest rate. Something he said many times before. Lets talk to the chief Investment Officer joining us very early from new york. Good to have you on the program, rob, thank you so much. What do you think . Should the fed be hiking Interest Rates . Are they late in the game . I think they should be hiking Interest Rates. I think they were going to do it really earlier but of course we had the market volatility, stock market volatility, the correction. So i think they held off for that. I think they should hike and by december well see the first hike which they pretty much said is going to happen. They said this for a long time but have they actually moved yet. True. I want to talk to you about hedgefund performance. Something is wrong. The famous guys and those that have performed had a good track record over the years. They arent having a good 2015. Greenlight capital for one. Yeah, well its kind of interesting. Usually hedge funds if the stock market is having a great year thats the time when hedge funds struggle but it does seem like with this year with the market basically just treading water that they have struggled and its hard to explain except perhaps most or many Hedge Fund Managers thought we would see a rising market. A rising stock market this year and we just havent really seen it. And rob, Greenlight Capital, for example, they got hit hard by the energy names. I wonder how you feel about the industry and industrial names. Do you want to touch anything remotely related to energy right now . Caterpillar is reporting later on today. They previously cut their revenue forecast. Theyll be slashing a lot of jobs. At what point do we see the bottom . Yeah, well, lets start with industrials because i actually have an underweight on the sector because i think the dollar is going to continue to rise. Thats going to hurt multinationals like caterpillar so even though they could have a great Earnings Report today i still have some what of a dim outlook and then as far as energy goes im neutral on the space. We have started to see a weve seen rig counts come down dramatically. Weve seen Oil Prices Rise a little bit but at the same time production hasnt kept up or drop in production hasnt kept up with the rig count drop so im still going to be neutral on the energy stocks. We have to talk about apple. Youre overweight technology, traders are pricing in a 10 chance of an Apple Earnings plunge for the quarter. What are you seeing . Well, i think longterm first of all ill say longterm i like apple. Their longterm Growth Prospects look great and the stock is attractively priced. At the same time, its hard to predict on a quarter by quarter basis what well see out of them. They normally have been pretty good but yes ive heard the whisper numbers that this is not going to be a pretty quarter. For holders of am, buckle your seat belts for earnings this go around but for longterm investors should still be a good place to be. What should investors do with their asset allocation. Theres no visibility on whether the fed is going to hike or not. Were seeing treasury yields close to 205 and thats a far cry from roughly two months ago. Are you still a buyer of treasuries versus a buyer of stocks . I would be overweight stocks here. Most of the technical damage particularly in the u. S. Has been corrected. U. S. Stocks are still cheap. The economy is going to muddle along. Its a terrible earnings season but it is growing. The Retail Investor hasnt gotten back in. I would continue to overweight stocks but when they do raise rates that will start to spell the beginning of the end of the equity bull market. Not that its going to end the day the fed hikes rate but i would start to take some chips off the table but were not there yet. Were not there quite yet. Thank you for your time this morning. Okay. Lets give you a run down of what to watch for this thursday. At 8 00 a. M. Eastern time were going to get the weekly jobless claims and then we get a read on september existing home sales and leading indicators coming your way at 10 00. Three dow stocks reporting earns before the bell, 3m, mcdonalds and caterpillar and googles parent alphabet, microsoft, amazon, and much more. Plus lots of interviews today. On squawk box we have the ceos of southwest, hess, caterpillar, eli lily. Lets talk about the ipo and the debut that everybody was talking about. Ferrari making a quick start out of the grid yesterday as it debuted on the nasdaq. Shares of the italian super car maker opened up 15 higher even though the company priced its ipo already at the top of the marketed price range. Cnbc spoke to the ceo of ferraris Parent Company fiatchrysler. He said there was still plenty of scope for global expansion. For simple geographic coverage of the rest of the world its a big world. We only have 204 points of sales. We only have 180 salesmen that cover that network. The potential is much larger. High network individual. The population keeps on going up. There you go. Now we also asked him for his view on the rumors that apple should Start Building its own car. Are they going to get a car made or build a car . Those are two separate questions. I doubt it very much that theyll set up infrastructure to manufacturer cars. They have not approached this. This industry in general needs to open up to disruptors. Whether its the google car, the apple car, this notion that were seeing now with autonomous driving, assisted driving, its going to change the traditional nature of car making. Its going to change the nature of cars in the marketplace. Creeping up on congress, find out how activist investor carl icahn is setting his sights on capitol hill with financial backing from none other than himself. Welcome back to the show. Ebay beats earnings expectations in after hours trade and ferrari closes up higher on its stock market debut. Here was a political shocker yesterday. U. S. Vice President Joe Biden ended weeks of speculation saying he will not be running for president in 2016 after all. In an impromptu address in the white house rose garden he was flanked by Barrack Obama and his wife. Biden saying he believed that time had run out to mount a winning campaign. The former senator outlined the issues he thought the successful democratic candidate needed to address. That includes cancer research. Thank you for all being so gracious to jill and me for the last six or eight months and for our whole career for that matter. Im telling you, we can do so much more. Im looking forward to continuing to work with this man. Thank you all very much. Bidens exit will likely boost Hillary Clintons nomination chances while tension also returns to the republican race. Cnpc has revealed t cnbc revealed the lineup for the upcoming debate. John harwood has the details. The lineup is set a week from today in boulder, colorado. In the opening session at 6 00 p. M. Eastern time, former senator Rick Santorum of pennsylvania, current senator Lindsey Graham of south carolina, former governor George Pataki of new york, Current Governor bobby jindal of louisiana. And shortly after 8 00 p. M. There will be 10. Youll see them arranged this way on the stage. With the poll position in the center of the stage, donald trump and retired neurosurgeon ben carson. Flanking them, marco rubio of florida, carly fiorina. Moving out from there, jeb bush of florida and senator ted cruz of texas. Then former governor Mike Huckabee of arkansas and Chris Christie of the state of new jersey. Finally on the wings, john kasich of ohio and rand paul of kentucky, once again, october 28th, boulder, colorado. Be there. Be there. Someone that doesnt mince his words when it comes to politics, carl icahn is forming a super pac with 150 million of his own money. Hell use it to push for Corporate Tax reforms to end the rise of inversions. He didnt specify how the money will be used other than to say that congress will be held accountable. He also said americans are not fully aware of the great dangers of more and more u. S. Companies leaving the country for lower tax rates offshore. He believed the change could come through congressional legislation. Im putting a pac together and committing 150 million of my own money to that pac and that money is going to be used to make Congress Accountable instead of just doing nothing. To say, well, we cant compromise because we have to stick to our principles. I dont think they understand their principles. And he said congress is completely dysfunctional right now. Were going to go for a break but still to come on the show, from rags to riches our next guess is a tech ceo that made six figure sums through tshirts. Find out how, next. Youtube is launching a ad Free Subscription Service called youtube red. Subscribers will be able to save videos to watch off line and play videos on their phone or tablet and gain exclusive access to new original programs and movies. Sounds like a netflix subscription. 9. 99 a month. On netflix you already avoid the ads. I dont know how this is different. But how much would you pay to avoid ads . Is 9. 99 a month fair . You can find us via twitter as well. Teespring allows users to design a shirt and sell it with a Company Shipping directly to buyers. Users are making six figure sums from the sight with some famous campaigns on board as well. They were founded in 2012 and raised about 56 million from backers. Joining us bright and early from San Francisco is walker williams, cofounder at teespring. Good morning or good evening for that matter. How exactly does this model work . Sure, so teespring allows anyone to design and sell Custom Apparel without any risk or up front cost. We handle the manufacturing, the shipping, the customer service. Our goal is to make starting a business, building a brand about the idea more than who you know, where you were born, your connections. But you would think that you as a company would have to be a lot more selective if youre actually backing these individuals. Dont you have to look at their ideas first . You cant just have anyone designing tshirts and trying to sell them. The amazing thing about what we do is we develop technology and Manufacturing Processes that allow us to back everyone. Anyone can go on to teespring today, launch their idea, put it on social media, in front of friends, family, advertise, audience, however they can reach folks and regardless of how many they sell, whether its 1, 10, or 10s of thousands we can handle that manufacturing on demand. So we actually scale to any level regardless. So we dont have to do any prevetting. We have a rule on this show. No tshirt, no interview. What have you got for us today, walker . So im actually wearing a podcast tshirt. One of the Amazing Things were seeing is you talked about youtube introducing this new subscription service. Its a fantastic way to have youtube channels, podcasts, bloggers, authors to go out there and give fans great product and add another revenue stream for themselves. Im so disappointed. You didnt make anything specifically for us. We have to take actions into our own hands and apparently we made some kncnbc sweatshirts. What is that . First in business worldwide. You get it in different colors and cuts. Walker, just wondering about your business model. Wexers doing it in the morning. Who came up with that . Anyway, 140 million is how much you paid out in the last 18 months. Thats i guess costs to those tshirt makers. How do you make money . Do you make money . Wryeah. So we take a small cut on every tshirt thats sold. We put such a deep investment into our infrastructure that even with our small cut folks are still able to get out there and get the same pricing they could get if they went to manufacturers themselves. We paid out over 140 million to entrepreneurs to Business Owners that use tees