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Proxy fight looms at United: Shareholder Weighs In

United Continental is under fire by asset managers PAR Capital Management and Altimeter Capital Management. The funds, which together own 7.1% of the airline, have nominated six potential directors for United's board. This comes just one day after CEO Oscar Munoz announced he would return to work on March 14. He suffered a heart attack last October.

CNBC's Phil Lebeau joined the "Halftime Report" experts to discuss if there'll be clear skies, or more turbulence ahead for United.

Phil Lebeau argues that this move is too little too late. He questions the hedge funds' timing since "it's not a secret that they [United] have been under-performing relative to the rest of the industry" for the past five years. Oscar Munoz helmed the airline for only a few weeks before his extended sick leave, so Lebeau also believes Munoz should have a chance to "put his fingerprints on the company."

As a shareholder, Sarat Sethi doesn't disagree with the activists' move. He thinks that attention should be paid to boosting United's margins to levels comparable to its competitors--namely Delta. He doesn't necessarily mind how or by what means changes are implemented, but he wants the airline to "focus on profitability and making money."

Given United's recent management shakeup, Pete Najarian believes this is an opportune time for activist investors to push for change.

Trader disclosure: On March 8, 2016 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Halftime Report" were owned by the "Halftime Report" traders:

Pete Najarian: Long AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI-A, KO, MRK, PEP, PFE,SAVE, VIAB. Long calls AAL, AMJ, DAL, EMR, EWZ, FDX, GDX, GE, GM, HAIN,HBAN, KSS, LC, MCD, MDLZ, MPZ, MXIM, NRF, RHT, SLV, SWN, UAL, USG, WMB, WPX, WYNN, XME, ZIOP. Long puts DB, EWH, RIG, VLO

Joe Terranova: Long VRTS

Sarat Sethi: Long AA, AAL, AAPL, ACN, BWA, CSCO,DAL, DGI, DLPH, F, FB, GE, GM, GOOG, HAR, HON, JWN, LB, M, MSFT, QCOM, SJM,UAL, V, WFM, XPO, YHOO, YUM

Steve Weiss: Long AAL, C, CVC, NGL, PAA, TLLP, VIAB