In a defiling that it now owns 7. 5 of the food giant which makes oreos, ritz crackers and wellknown brands. Whats unclear is what the investor wants to do with the company. Ackman wanted the snack maker to grow revenue or cut costs or sell itself. Mondelez, for its part says they will welcome them as investors in the company. Ackman joins nelson peltz. His firm holds a 3 stake in mondelez. Well show you whats going on now in the premarket trading as a result of this and you wouldnt be surprised to see that they are sharply higher. What does he want to do with the company . He wants the stock to go up so he can sell the stock for more than he paid for. We were having a conversation off camera. Okay. Maybe he sees something thats not being optimized at mondelez the way that management is running things but what he really knows is i have enough money, 5 billion. I can make a splash and in all likelihood the stock will start going up just on that and then you agitate, you mess around, you
Leaderboard. No bubba watson. Its right behind you there it is there it is. Caterpillar, apple moving up, boeing, intel, verizon, theyre all there. Mandy is still down under. Kayla tausche down on the floor of the New York Stock Exchange. Great to be with you here on this monday afternoon. We are watching the dow snapping that sevenday losing streak. Also seeing its first 200pluspoint gain since the middle of july. Bob pisani is here with me on the floor to look a little bit deeper into what exactly is pushing the markets higher. Is it all industrials today . No, it is pretty broad rally. 41 advancing to deshriclining stocks. Seven days down in the dow industrials. That doesnt happen very often. Were due for a bounce. Theres hopes for stimulus in china for all the wrong reasons. Look what happened to china today, both shenzhen and shanghai up 4 to 5 . Economic data was very disappointing overall here. Ppi and trade numbers were terrible. But shenzhen and hang shy both rallied, hong kon
This after the retailer agrees on a similar deal with visa. Yum brand appoints a new leader for its China Business in an effort to turn around four straight quarters in its biggest revenue market. Coming up on the show, guess which stock is up 1,500 on its ipo price. Heres the clue, it went public 11 years ago. Did hackers make good on their promise to expose members of the Ashley Madison website. A fire rips through shooting flames as much as 100 foot in the air. And youre watching the second hour of worldwide exchange. Lets get a check on u. S. Futures. Stocks have been up down and all around but keep in mind s p 500 still within 1. 8 of the all time intraday high. This ahead of the meeting minutes. Investors looking for clues tooz whether that september rate hike will happen. That is also encouraging for the hawks out there. Dow right now though indicating a lower open by 62 points. Nasdaq down around 14 points. A similar set up to yesterday when it was the negative sentiment to asi
Now in bear market territory. Those stocks are down at least 20 in some cases, more than that. All the major averages deeply in the red today. Its i shaping up to be the worst week in the dow, s p and nasdaq in nearly four years. This is serious selling. Lets look at the price of oil breaking below 40 a mark today. Weve been watching this one for some time. Its now down about 20 . Thats a bear market. Thats just this month. Finally, take a look at volatility index. Surging today. Its doubled this month. Its above 25. This is the one we are watching. It was dormant all summer. Today its up above 25. This is the best month it had. All sorts of benchmarks are being set. Exactly. Dow jones industrial average is close to breaking below 16,600, which it did do briefly earlier. We started the week with the vix around 12 and were at 25 now. We have bob doll to break down where he is telling his clients to put their money now. Tech and social stocks getting crushed in this market. Apple one of
Lost more than 1 trillion in market value. And an 8. 5 drop in shanghai last night. Wiping out chinese gains for the year. Jim, what is the story today . I think it is china. What id like to do because its a terrible market. It reads something that is in keeping with that. I sent tim cook an email trying to understand covering apple because that is a crucial part of it. And tim sent me this this morning right before the show. Ill read it. As you know, we dont give mid quarter updates, and he rarely comment on losing apple stock but i know your question is on the minds of many investors. I get updates on china today including thing and we have continued to experience strong growth for our business in china through july and august. Growth in iphone has dproen and weve had the best performance in the app store over the last few weeks. I cant predict the future but our prediction is reassuring. China presents an opportunity over the long term and the growth of the middle class over the nex