Keep their employees on staff, lenders were met with error messages and a frozen sba site. Former ubs america chairman and ceo robert wolf on how both banks and the government can salvage the reputational damage. We will get some numbers and bring them to you and of course, the president as well. We are one hour away from starbucks first, as we are calling it, covid Quarterly Earnings report. Board member clara shy on what investors can learn from starbucks china reopening plus how her company that she runs is helping major businesses, publicly traded companies, fix their biggest problem of the coronavirus crisis. Slow Response Time for their customers. And imax stock thrilling investors in this final hour. And charlie breaks it on who is breathing down banks necks now. Less than an hour to the closing bell, lets start the claman countdown. Liz all right. Breaking news. As i mentioned, we are waiting for the president to speak but we just got an important number, sort of a subset of nu
Alphabet, the stock higher after reporting a quarter that is under way. We have full Team Coverage under way and gene munster is listening in on his phone, and lets start out with deerd deid bossa. Im sorry guys just on the call right now the cfo was just talking and i was listening so intently because she was talking about the Second Quarter and shes seeing some signs of commercial activity recovering and she said it would be too early and too premature to make any kind of conclusion or talk about how durable that may be. Going back to the results the ad revenues were hit and perhaps not to the extent that wall street was expecting and they echoed the comments that cfo made saying that it was a tale of two quarters, strong at the start and then ad revenue declined he also struck an optimistic note saying he had reasons to be confident. Have a listen. Let me just explain that to you. He said he was optimistic because as they saw after the financial crisis in 2008, one of the strongest
A heaping of starbucks and shake shack after the closing bell despite a host of developing threats out there, no disability a quarter of companies that have reported so far have yanked guidance China Threatens retaliation for its role in the pandemic, and the virus death toll, new reports we could see 3,000 deaths a day in the United States as states begin to reopen. Is the action we saw today actually a sign that the market may be climbing a wall of worry . Hi, mel. Hi, guy its clearly climbing something. Tims been on this theme, so kudos toll him i was impressed, the price today was, you know, very interesting. So kudos to the market and people that still believe in it. Out of the three things you mentioned and loss of life obviously is the most concerning, but in terms of the market, you know, this potential retaliation against the chinese, that Steve Mnuchin spoke about today, and saying the chinese were still going to honor their trade agreement, i personally dont think the market
Announced, but the big story is surrounding big tech earnings like microsoft, facebook, and even comcast and qualcomm. It look like some of these companies were basically created for this moment if you didnt know, the microsoft quarter was just a thing of beauty a lot of that is because theyll have a product like teams or like azure that are incredibly strong linkedin doing very well facebook quarter was good, and boom, they say april is stabilization. One of the themes were seeing in tech, or you have service now, well have Bill Mcdermott later today. They have an unbelievable quarter. Maybe the best in the history of the company. So youre seeing companies that frankly not only do not have to make any excuses but are saying good things. You know, qualcomm, ill say, secular trend, 5g, and then highspeed internet is one of the most lucrative parts of comcast. Yes, of course, theme parks not going to happen, but theyll open up again. But high speed, it will never go back you dont switch
So bad that were going to be debating whether were in a serious recession or depression. We have pockets, though, of strength Like Technology and health care. But those pockets cant offset a very weak backdrop, can they we saw it again today. The dow lost 218 points. The s p 500, it tumbled. 7 . But the techheavy nasdaq also had the darn gall to rally. 51 , and was up a percent most of the day. Oh, the indignity. If you make technology that helps businesses cut costs by firing people, or having them stay home, youre doing great. If you make something people literally captain live cant live without, medicine, terrific Everything Else is a drug here staggering layoffs and the big drop in the index i am worried about, or at least a lot of what im worried about which is 9 s p 500. It gets worse. If you run a business leave it to the u. S. Economy and not chinas economy, well, now your stock is getting walloped. Over and over in the earnings season we see Companies Report an incredible 2 1