It's Jim Kramer here.

You're listening to the opening bell of CNBC Squawk on the Street. Don't miss a minute of the action. Well, that was news, Larry. We're going to miss you. Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintanah with Jim Kramer, David Faber, at the New York Stock Exchange. Futures are green and steady as we kick off a busy week. Congress back to work,

got an Apple event. This new stake out of Elliott has AT&T on the move. Europe moderately green on some

good macro in the UK and Germany, 10-year 158. Our roadmap's going to begin with shares of AT&T,

popping pre-market activist Elliott management with a $3.2 billion stake, one of the firm's largest investments ever.

Plus, we are closing in on new records in the markets to submit new optimism for that potential

China-U.S. trade deal, as you saw, stocks are set to hire, open hire.

And the tech lash heads to the states, a major multi-state investigation into antitrust practices at Google set to be announced later on this afternoon.

David, kick us off on T.

You know, interesting here in so many ways, of course.

3.2 billion, as you said, is the stake from Elliott.

It is the largest single investment, I believe, they've made at the company.

A long letter comes out this morning detailing the reasons why

they believe this could be as much as a $60 stock within, let's call it, three years or so.

2012 is what they're talking about. Some 65% or so upside to today's stock price.

They believe $5 in dividends and a $55 stock price that you could get to something that would be a 10% earnings per share grower with significant margin improvement, which of course is what they're calling for and buyback.

Something I do want to make sure people understand here because it's interesting.

People who know the company well but sort of are vaguely aware of Elliot this morning,

have called and said, well, they're calling for the breakup, right?

No, they're not calling for a wholesale breakup of AT&T.

What they are calling for is non-strategic assets to be reviewed and potentially sold,

although again there you are talking about things like the Latin American presence for DirecTV

...