O out. France is 1. 71 and italy is 2. 799 . Thats what you get for lend your money to the u. S. Government for ten years. How about those oil prices, though . Thats the story over the last couple of days as we watch iraq perhaps split into three different sections, civil war raging. There is a look at wti and brent crude as of this morning. Lets get to our road map this morning, as well. We start with the markets. A lot to contend with trying to regain ground. The cow hitting its second digit in iraq. Intel raises revenue guidance on stronger business, pc sales. The pc is not yet dead. Several firms raise their price targets in reaction to the news. And table for two, priceline to buy opentable, 2. 6 billion or 103 a share in cash. A significant premium over a stock that has been fading at 7 bucks a share is where it was. Lets talk oil prices. Lets talk the markets here to start off the show. They are moving higher. You sour worries about escalating violence in iraq. Militants have captured two more towns northeast of baghdad overnight and are marching toward the iraq capital. At least they say they are going to. There are people joining militias now. Stock markets are keeping a close eye on all the developments in iraq. Major averages on track to finish lower for the week. We had a little bit of complacency and suddenly we learn about isis and the next thing we know theyre taking care of that to swap territories in iraq and its chaos. I was focused on the isiss pharmaceutical pipeline. I dont know if that would be it might be better. Certainly makes sense. Obviously, west texas and brent are major focus when youre not faefing on chaos. And i think if you ignore that, then youre back in 1990 when many people ignored during the month of august when there was lots of sign from the Oil Companies about the way it was going to be invited. In 2008, oil went to 145. You ignored those bare markets. So completely correct to focus on oil. Its not a distraction. Its for real. However, if it werent, and i know you would want to asterisk this, this is so much fundamental goodness, so many takeovers, that if you did not have oil, i dont know where this market would be, but it would be substantially lower. Well get to open table, of course. That headline is not a huge deal, but letting people know. Jim, what ive been waiting for, and ive been sitting here saying it and you know ive changed my tune over the last few months. Thats not because im making it up. Thats because every conversation i have with those professionals who advise on these deals indicates their workload has dramatically increased. And their prediction of whether or not what theyre working on will actually happen has also increased. Its not that there werent people thinking about deals in years past. For the same reasons weve been talking about so often, whether it be although Interest Rates or a good reception for those that skok once they announce the deal, its that level of confidence which is so difficult to quantify that seems to increase so that the deal has a better chance of seeing the light of day. Do you think that either oil or new discord in washington could cool that or is it one of those things that once it gets rolling . Animal spirits has returned to a certain sense of the merger and acquisition market. Of course you start to see more volatility in the equity markets. It affects your perception of value if youre using stock, it affects your ability to deliver the value you thought you could. If youre a seller, you may choose not to sell at that point. Youre not going to get the high price. No doubt when you start to see and if we start to see this happen day after day, it will cool. Thats not happening right now. But whats happening, there is the mindset and you correctly nailed it time and again. Im reading a city note today. Time inc. They like time inc. Why . Because its going to be bought next year. You can never write this piece of research. A lot of Research Analysts are focused on exactly m a as an event that is a predictor of future values. And i did a show last night on mad money, a segment where i wrap it every night because that bob evans farm is a logical acquisition for which got guilted on hillshire and youve got san did he ll in there. These are small. Opentable collectively theyre huge. Come back to me, though, to the bigger point before we move on to intel, which is this is not going to stop in iraq. And theres a great deal of uncertainty right now about what we can or cant do. Anything militarily from the u. S. Point of view. Is oil going to go another 20 higher . To 600,000 barrels of oil will probably be lost instantly. 3. 6 million, okay . So you take six times 600,000 off. Two things to think of pun one is that the oil workers will abandon, weve seen that. Oil workers will abandon the infrastructure. Which means you could have several Million Barrels more offline. Of course, the currents have already moved to the north where they can. Thats not going to come on. Theyre the most solid, right. But then the other thing is, david, i thought we would be pumping 5, 6 Million Barrels from iraq in the next three years. Why . The Great Companies have been going in there. People misjudged how unstable it was. That has pulled back. We are never going to get the 5 to 6 Million Barrels i thought we were going to go. The iranian republican guard, who is tougher . Isis or the iranian remember guard . This is not exactly a group of guys that we want to get in there. There is the world we live in now, that the iranians will come to the aid of the government in iraq because, of course, the shiites. You get okay. So then the bottom line is 10 increase in oil. All right. What about in 08 it was a very different landscape. 145. All the time, the permean, the backan. Were producing more oil than we did six years ago. But were producing a beautiful form of light, sweet crude, which is the best source in this. We set up our refineries for the Keystone Pipeline for socalled hippie crude. We have to export our oil. We dont have a place to put all the permanentan. We have through new pipelines to make it radically to reduce the logjam in permean. But permean could produce far more but we cant put it in our tank. It has to be sent to other countries. Otherwise theyre going to shut down permean production. Weve got the wrong crude and the wrong economy. We want to move on to a positive note this morning to one of the bigger companies. The oils largest chipmaker raises revenue guysance. Its up in a previous raij range of 12. 5 to 13. 5 billion. By the way, if you listen to Hewlett Packard and meg whitman, theyve been saying et over and over again in commercial pcs. Not in consumer where tablets really do seem strongest. But an upgrade cycle that was needed, that was coming, so the depth of the pc was certainly overstated when it comes to at least the enterprise. Chris at intel, a fantastic ceo, i had a good chance to meet him. Hes a gamer by background. Fabulous interview with him. You know this man is terrific because he has said we will cut back on our willynilly spending. We are about to have a cycle. They hit the holy grail. Andy grub told me its always where you need to be. The idea that this company is going to have a one quarter up and go back, intel sell. One of the nicest guys in the world. So much its frightening. Intel, by the way, jpmorgan has been a big bear. I have to give Chris Stanley credit, he upgraded correctly right before this complete major turn of the country. If they cut the cap ex down, youre going to see the real earnings explode here. The real winner . Michael dell. He bought at the low. He told us he was doing it and he did it. You know, jim, im so glad you brought that up. Probably making carl icahn a very mad man. But dell, from what im hearing in terms of the Free Cash Flow projections from the company, for what is the private dell now, they have to be going higher. Oh, geez, ive always liked him. Now that hes not public, i dont feel like im endorsing something. Hes private. And i dont mean to minimize hue let in all this. Here you have a piece, a strong ender price, a guy equal weighting Morgan Stanley. This is a very big movement for him. Upgrading to equal weight. This man hated intel. He hated joseph moore hated intel. Why upgrade . We have been underweight this stock for almost two years with these soft fundamentals. While they think this stock is expensive, its free cash do some work. Not true. This is exactly andy grove and gordon when i visited the intel factory that opened in ireland when i went to the opening, they told me what could happen when you get the gross margin at this level and when you get the yields right. And brian knows that. When i visited the intel factory in israel which by the way is open on saturday because its all robot, theres no people, you can see what happened when they get that yield up. When 100 of their chips work, you get the up demand, 64 67 gross margin, intel will cut the cap ex to 40. There. And i am jim cramer, i am an intel intelaholic. We have to get to phil lebeau. Another day, another gm recall. This is four new recalls being announced by General Motors. 20102014 chevy camaros. The recalls have to do with the ignition switch in these vehicles. If a short driver or somebody who hits it with their knee, it could thumb back into the accessory position. 511,000 20102014 vehicles. It does not appear this recall is directly related to the ignition switch recall crisis which involves vehicles sold between 2004 and 2008. Guys, i hate to be like this with this running total, but we have now looking at 38 recalls in all by General Motors this year covering 16. 45 million vehicles worldwide. Guys, back to you. Wow. Thank you, phil. Phil lebeau, 38 recalls, 16 million automobiles. Stock bottom at 0. 53 . Well leave it there right now. When do we do opentable . After the break. Theyll have a stroke back at headquarter. But theyve got i like that. I really do. Bristol myers . Coming up, priceline agreeing to an all cash deal on opentable. Shares of various Internet Companies are up as a result of that. Were going to talk about opentable right after this. Take another look at futures. Chocolate is very individual. White chocolate lovers dont like dark chocolate. Milk chocolate lovers dont necessarily like dark or white. Before we couldnt really allow the consumer to customize their preferred chocolate. We needed the scalable Cloud Solution allowing them to see all 800 products and select what they are looking for. Now there is endless opportunity to indulge. Dad hes our broker. He helps . Look after all our money. Kid do you pay him . Dad of course. Kid how much . Dad i dont know exactly. Kid what if youre not happy . Does he have to pay you back . Dad nope. Kid why not . Dad it doesnt work that way. Kid why not . Vo are you asking enough questions about the way your wealth is managed . Wealth management at charles schwab. Priceline agreed to buy opentable for 2. 6 billion. A 46 premium to open tables Closing Price thursday. The deal is expected to close in the third quarter. There were a lot of people short this stock, too. Every time i had them on, the i recommended them. The hate mail i people would say, you idiot. You dont understand. What was the central part of the thesis . Theres two. One is theyve already expanded. The cloud version is much, much cheaper, yelp. Restaurants pay 100,000 for the legacy software. Seat me is only 1200 a year for an ipad. I have to say, for someone already in the restaurant business, opentable be king. People dont like to go to restaurants and find out they cant get a seat. And opentable, which jamie myers claimed because i said a great restaurant server this week just thinks opentable is terrific because if you have opentable at your restaurant, its a dead wait loss. You get to get those people in. Opentable is a brilliant acquisition. A year ago, priceline bought kayak. You have this combination of how to get there cheaply, which place to go, and can you get a reservation. And make your reservations. Yelp is up seven. The chairman of yelp is on the board of yahoo . That said, yelp whom i regard as a true vision anterior does not need to do that deal. He has seatme and he has a system to deliver. The idea has been that i had proposed was that yoohoo should merge yelp and merge grub hub for a seamless one app. Not going to happen. Not going to happen. No. Should yelp be up seven . Yelp is undervalues. I have not had a chance to talk to any of the bankers involved. Dont have the background of this acquisition. Opentable shares, while trading above the cash bid, why buyers. Youve got citi out with a note this morning after the deal, of course, saying or bringing up the fact that ebay might want opentable. And noting, remember how they took the hit for repatriating cash. They havent brought back they say highlights value in the online marketplace, booking or payment connection with buyers and sellers. Grubhub obviously yelp. Its possible at least the market seems to think you never know. Oh, my god, everyone is short these things. If i were trip adviser, which is a fabulous Company Given that kayak did that deal with priceline, if i were tripadviser, i would also be in trip adviser is a 14 billion company. Open table is going to be a linchpin for someone with an app that wants to be able to talk about going out. And that is a remember, your handheld is everything. Youre getting 40 , 50 of yelp. The numbers just keep going higher and higher. But what happens is when youre going out, you look at your handheld, you see where you can get a reservation and you go. Its another reason why your cell phone is so darn powerful. Raising numbers, apple, raising numbers google, raising numbers intel, raising numbers seagate, raising numbers western digital. Cutting numbers airlines, cutting numbers restaurants, cutting numbers iraq. Up next, cramers mad dash at the opening bell. Lets give you another look at the futures on this friday. Its been raining all week. We have more from squawk on the street from the nye. 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Estrogen should not be used to prevent heart disease, heart attack, stroke or dementia. Ask your doctor about premarin vaginal cream. And go to premarinvaginalcream. Com this is worth talking about. All right. Weve got about 6 30 before the last trading day of the week, a long week. And people should understand during the break, this is supposed to be a sleepy summer friday, of course, june 13th. During the break, we are literally scrambling to try to figure out which of the 12 stories that must be covered. And i think i have one that is kind of lost in the shuffle that im going to mention. Which one . Lands end, l. E. First public quarter turned out to be amazing. Edgar ubeare, he is brilliant, the ceo, but also, david, its this board. L elizabeth darst. Josephine linden, i say brilliant. Shes been out on her own for a while, shes on the board. The board is amazing. Youre talking about a guy like john mcclain. The former cfo of jones. David sycamore bought jones. Now, get this. Sycamore takes a stage in express. We see chicos putting itself up for sale right now. I am doing a rolloff of limit of le, express, jones, putting an order one half and being able to have power against the big retailers, the department stores. Lands end is back and its not its away from sears. Its back in one quarter. The Balance Sheet is better than i thought here. And the brand wasnt tarnished. And the team is extraordinary. So i think you have to look at it. Mr. White did not do a good job. You come on the show and theyve got a very difficult look. The miss there is 19 to 19 1 2. Youve got to make it a little broader. I didnt mean to be mean like that because mr. White is a great exec. Sycamore understands that this business is cyclical. Very smart. A potential acquirerer here. So i think its right. Now, they have two really, really bat bad quarters. But before that, they were flying high. This is a company that is historic like this. If you merge this with some other apparel companies, it could be powerful. We have to stop there because we have to make some time for the opening bell which is about four minutes away. A lot more squawk on the street and as jim said, a lot of news to cover when we come back. [ indistinct shouting ] [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All on thinkorswim from td ameritrade. We are live where the opening bell is, to close out the trading week. Jim, we are very focused on goings on overseas. Never that easy to get a great read on what is happening on the ground in a place like iraq. And why are rates going up today . For nbc news, hes a great reporter, fearless, by the way. We all know colleagues at one point or another who have been in harms way and some who have passed away. Not the job i no. You see this . You see this . I do. This is about opentable. This is about opentable. Its the war of the app. And ten k opentable be allowed to be bought by priceline . No. No. Someone has to block this. Opentable is too powerful. Its the key to dining out. As danny mahr will tell you. Its the key to dining out. I dont even know what the break on this thing is. I dont know what the background is. I dont know if they ive got to find all those things out in order to either effectively rebut your assertion or say you may be on to something. Its a little company, but this is the beginning of the consolidation so many of us have been waiting for of all these companies that are about service, cloud based, remember, feedme is cloud base. Feedme, the yel