C-Suite Shuffles, FedEx Investor Day, Sell on Sail?

Carl Quintanilla and Jim Cramer began the show with a look at the market action, following another failed attempt at a bounce. Earlier today, Cleveland Fed President Loretta Mester said she would back a 75 basis point hike in July if conditions remained the same. The anchors then shifted to the C-Suite shuffles for Pinterest and Bed Bath & Beyond; both companies announced that they would be replacing their CEOs. The biggest S&P laggard in early trading was Carnival Cruise Line, as Morgan Stanley cut its price target on that stock to $7 per share, while also laying out a “bear case” scenario of $0. Also in the mix: FedEx hosted its first investor day in roughly a decade and new CEO Raj Subramaniam spoke with CNBC exclusively.