 The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN, 8.30 AM Friday morning, 60 minutes to go until the opening bell. We got markets in negative territory. S&P is negative by more than 2% off 60 points, trading at 2842. We get the NASDAQ off 217 points, that's 2.4% in the red trading at 87.73. The Dow off 1.8%, 437 points in the red trading at 23,795. You back it up to the highs that we had early yesterday as the market was in positive territory. You're actually 1,000 points below the highs that we had just early yesterday in the Dow. You back it up to the S&P. We're talking about a high of 29, 65, or 120 points below that price level. And talking about big moves, how about Amazon after the bell last night? Amazon, going to spend their entire next quarter's profit, usually $4 billion on COVID-19 related expenses. Their guidance, now looking for anywhere from a loss of 1.5 billion to a profit of 1.5 billion for the quarter, a little bit of wide guidance, as you may expect, but delivering on revenue, total numbers, about 75 billion slight beat there. But Amazon, quite a couple of days, I mean, quite a dramatic drop-off we've had. We're trading at 2350, you're talking about $124 below where we were trading at yesterday. For some context though, the expected move, about $112, I believe, on Amazon. So even with that type of action, just over the type of implied volatility that was in that stock. And if you really want to get technical about it, all you're back to is Wednesday's price action in Amazon. You back it up to some longer context of where we've been. We're going to open at about 2350 for where you are on the chart, pretty close to the higher range it's been bouncing around in since about April 16th, right? From 1626, the recent highs we had in February were about 2185. We're going to open almost 200 points still above that level as we've accelerated higher from 1626. Revenue rising, Amazon will be right in the long term. But man, oh man, some of the statements they had to say in terms of what they were going to spend their money on. Why not let's just jump into it before we even hit the charts? One of the statements in there, I actually posted it in the den last night. If you're a share owner in Amazon, you may want to take a seat. Amazon reports earnings plans to spend all Q2 profits on those expenses estimated about $4 billion. The numbers they came in with, earnings per share 501. The market had been looking for above $6 for earnings per share. Revenue 75.45 billion, they were looking for 73 billion and change. Amazon Web Services revenue 10.22 billion. And here is the quote, under normal circumstances, in this coming Q2, we'd expect to make some $4 billion or more in operating profit. But these aren't normal circumstances. If you're a share owner of Amazon, you may want to take a seat because we're not thinking small. And that would be the bullish side of things. In terms of foregoing, the profits of the coming quarter, in terms of future growth, we're not sure how far we will get in the relevant timeframe. But we think it's worth trying and we stand ready to share anything we learn. So Amazon's designed a team of researchers, engineers, procurement specialists as they're building their own COVID-19 testing and program managers to work on building incremental testing capacity. Amazon said the team is building a lab and has already begun a pilot test of front line employees. Amazon, the second employer, only told Walmart domestically in terms of the number of people they employ. Some of the $4 billion will also fund higher wages for workers, PPE, personal protective equipment, better cleaning protocols at facilities. And this is the key here, less efficient process paths that will allow for social distancing. Amazon, the king of process, getting it done, two-day delivery, streamlining, everything. All of those things changing when you can't come within six feet of people potentially. Amazon revenue and net income numbers, net income for Q1, 2020, $2.5 billion. And revenue, Q1, 2020, yeah, revenue on the left, net income on the right, excuse me. We come in at about $2.5 billion for net income and $75.5 billion. You see the trend. It's a decent trend. The next quarter though, it's gonna be a tough one for Amazon. First quarter for Amazon Web Services, revenue topping $10 billion. For the second quarter, Amazon said it expects net sales to come in between $75 billion and $81 billion, representing a year-over-year growth between 18 and 28%. I believe the revenue numbers they just came in with a year ago, they were at about $59 billion. It's about a 26% rise, 28% rise, something like that on revenue. On $60 billion, imagine that, taking in $60 billion in 90 days and saying, I'm gonna grow that number by almost 30% in the next year. And that's what Amazon did. It's taking longer to get things into our warehouse than out of the warehouse he said adding. It's unclear when operations will go back to normal. The biggest question we have in Q2 is more about the ability to service the demand and the products people are ordering in a full way. So jumping back to the Amazon action, you see where we were yesterday. As I said, we're gonna open at about $23.50, the action so far this morning. And there you see the instant drop to lower prices when everyone realized that Bezos was telling you to take a seat. Investments are gonna go bye-bye for at least the 90 days. And then you forward to $5.30, so they release them at 4 o'clock, $5.30, you get the conference call and no real action in terms of bouncing around between about $23.20, up to $23.80, the real range of that in between about $23.40 and $23.60, and we're sitting right in that range right now. The other company out with earnings, Apple, quite a spike higher on the pop originally. The number they came in with, they were looking for 208 and they made 205s, quite a delivery for Apple. You saw the spike to above 300, but as the markets pulled back, Apple pulled back as well. Quite a quick decline, even by 4.45. We were under where we closed at and from there we've accelerated a little lower, 286. We're down about $7 on Apple shares, checking in on some of the other. Fang stocks have reported this week, you see Microsoft shares trading lower with the market. They're down more than 2% right now in the S&P, so you're going to see some action across the board here, let alone the NASDAQ right now, down actually 2.36%. So Microsoft shares again, down from 179 to 175, Facebook, they had quite a beat. I mean, look at this action right up to 217, we're now at 200. We closed on Wednesday at 195. They delivered some pretty strong results with the market taking them back quickly. Apple shares, they've held on to their gains, they came into their earnings at about 1240. We made it as high as 1359, currently trading at about 1325. Some of the other stocks, Netflix, 416, just kind of been sputtering around in the low 400s, just putting this on. There was their earnings, the initial spike to 485, and then just sputtering around above 410, you could say a little bit of a downward trend, but Netflix has had quite a run recently. You see that acceleration just kind of pausing the run maybe on this move higher. Disney shares out with earnings next week, I believe. Disney out with earnings, we're also going to get Uber, I know. I was looking at them earlier next week, big week of earnings next week. We also got non-farm payrolls on Friday, the 8th of May. That will be a big event for sure, to see what happens. Weekly jobless claims now exceeding 30 million. The April jobs number going to be a big number that we maybe have never seen before. Checking in on the VIX as we wrap up the first segment. VIX right now, jumping into the shorter time frame, there's your action. Little bit of elevated action, markets down 2%. So you get the VIX climbing to 39. Let's see if we get a 40 handled depending on how we open. Stay tuned folks, I'll be right back. If you're in the CD market and looking for a secure investment, the Tiger First mortgage program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. 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Earnings for a share 255 for the quarter, the revenue, quite a beat on this revenue number, which is why you probably saw that spike right out of the gate to above 300 on Apple. Apple revenue 58.3 billion. The market was only looking for 54.5 billion, almost $4 billion extra in 90 days during this environment. Earnings per share 255, they were looking for 226. The quote there, amid the most challenging global environment in which we've ever operated our business. We're proud to say that Apple grew during the quarter. Apple CEO Tim Cook said during a call with analysts, Apple shares were down though. They're going to beat on their revenue numbers and Apple did not issue guidance for the quarter ending in June, as it usually does a lot of the analysts out here saying, maybe they're being punished for no guidance, right? Maybe they're being punished for no guidance. It's possible. I don't know how you can punish a company that just delivers a $4 billion beat on revenue for no guidance. When providing guidance, it has a lot to do with health folks. And being a business analyst is not going to tell you when this economy opens back up and the COVID-19 relents. Now there's talk of potentially a vaccine being available hopefully by the end of the year. All this stuff very dynamically changing. So Apple shares spiking to 301 down to about 285 right now, putting it on a five minute chart to see the action. You can see how quick that spike was initially right at 430 on the numbers coming out initially right to 301. But within 10 minutes, we were trading basically in negative territory at almost 288. And we're at 286 right now in Apple. Lots of other companies with earnings out there jumping through the list. We have ExxonMobil posted a loss of $0.14 a share and a non-GAAP profits. This is just different accounting principles that they can come up with. The company announced a 30% cut in capital spending and also reduced cash operating expenses by 15% ExxonMobil shares this morning. Here's your action on their earnings, quite a quick spike down to 43, back up to about 4588. We're going to jump to Clorox earnings next. Not surprising right, Bleach, Bleach, Bleach company reports earnings and we go higher. But we'll get into the numbers in a moment. They're the next stock in that article. But there's your acceleration. We're going to open about 192, excuse me, by 193. There you are on the chart. The recent highs we had, we were up as high as about 197. We back it up to March 18th, we were as high as 214, but check out that volatility. We made it back down to almost 160 by March 25th, quite a run up since then. Getting into their numbers, Clorox, they earned $1.89 a share. Clorox sales jumped 15%. I'm surprised it's only 15% because if you're not aware, you can make your own disinfectant, whether it's using bleach, water, something like that, Google it. I believe that's something that you can put together for a home cleaner. Clorox bleaching things reported fiscal third quarter sales, so at 15%, its cleaning segment, which includes its namesake, bleach, and pine soil saw sales growth of 32%. Company also raised its fiscal 2020 forecast. Just in general, people are more concerned with cleaning and keeping a clean environment, whether it's at home, whether it's in your car, whether it's at your work. Earnings per share $1.89, revenue 1.78 billion, Clorox reported first, excuse me, fiscal third quarter net income, $241 million or $1.89 a share, and that's up from $187 million or $44. Quite a difference, right? If that was a private company and you're making $180 million, still a remarkable amount, but $240, an extra $60 million almost to the bottom line. Net sales rising 15%, and Wall Street was looking for $1.67 on $1.71 billion. So I imagine they're gonna be doing well for the next year, possibly or two. Jumping back to other companies, Chevron out with their numbers, first quarter profit of $1.93, which included $660 million in one-time favorable items, revenue beat forecast, consensus estimate had been $0.68 a share. Chevron said it's taking steps to preserve its dividend and to manage the current downturn responsibly, including a further cut in capital spending. I'm not a huge fundamentalist when it comes to oil companies and what is on their balance sheet. But if you can figure out which of these companies is gonna be around when crude is not trading in possible negative territory, I mean, crude is not gonna be flirting with negative prices forever. That's just not gonna be happening. It is a commodity with extreme value when you really think about things, right? We're making the transition to electric cars, so forth, all of that stuff, whether it's solar, electric, nuclear, everything. Oil is gonna be around for the foreseeable future. There's Exxon from 30. You're gonna open about 46 down from 70. And as we said, Chevron shares closed yesterday at 92. You're bidding down a bit, but that's off of the low of $51.60. And why not? Since we're talking about the oil companies, check out the action included last night. We haven't pulled up the chart yet. I was gonna get to this, but we actually made it to $20.48. That's from $10.07. Pennies, early Tuesday, you back off a bit. We did trade down all the way down to almost $18, so you're having volatility in both directions. But again, check out the pop from 6 a.m. this morning at almost $18 right now as we speak. You're up 6.2% with crude trading at $20 in two pennies. We'll keep it on the commodities and jump over to gold. Gold, a little bit of a tough day yesterday trading from 1730. You finished the day at around $16.95. From there, we've traded down about $9, but you're $10 off the lows we had at about 4 a.m. this morning on gold. I mentioned Bitcoin. Check out the volatility continuing in Bitcoin. Yesterday, we saw that spike 2 a.m. Eastern time to 95.60. You fast forward to the trading day in Bitcoin, and we've been just jumping around basically just under 9,000, but some context. I mean, Bitcoin's been trading with the market, which is remarkable, right? When all this pain started, call it Valentine's Day. You had Bitcoin above $10,000 to below $5,000 to $4,200, and right now we're still double that price point. I mean, even where we were at the end of March, it's May 1st, but where we were the end of March, so you're talking about basically a month from 6,000 up 50% to about 9,000 on Bitcoin. Jumping over to silver, silver just under $15, quite the drop off when the pain began in February from $19 to $11.64. Talk about craziness, right? But this morning, zoom in things in. There's your 5-minute chart. Yesterday's action means still remarkable from almost 16 early yesterday to under 15, and right now we're under 15 at $14.95 from $14.82. In silver, notes and bonds, pretty muted action. The 10-year right now, you're up one tick. You see the fall off yesterday from $139 down to about $138.26. You get the 10-year trading at $139.03. And what else we have going on is we get ready for the break. Tom did a great webinar yesterday. You can still sign up and gain access to the archive. That'll be available. You can gain instant access. Tom O'Brien, time of the trade all day webinar. Check that out. Six hours of education in there yesterday. You get the book, you get the newsletter as well. And today, the last day, which is why I mentioned it, open house. Check it out, folks. You get 30 days. Great action in the den. We got 40-plus people in there right now. We got usually 50, 60 people in there during the day. Trading room. Everybody talking about the market. You can interact with the host. All that stuff. Just enter the promo code open at checkout. You hit subscribe. This is the last day for that. $39. You enter that promo code open. You hit add code. And there's your $39 free for a month. Cancel at any time. Check it out. We've had a great turnout. For those that did sign up, thanks for taking part in that open house. It's been a great month. People at home talk about some market action. And the VIX climbing back towards 40 this morning with the S&Ps in negative action. Stay tuned, folks. I'll be coming back to finish up the program. See what else we have on tap. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV for the latest market information. Welcome back, folks. S&P is negative by 60. Just kind of hang it out, negative by 60 points for the entirety of the half hour of the program. Jumping over to some other stocks that had earnings last night, Visa down about $5. I'm going to jump through some of the equities here pretty quickly in the final three minutes. Visa down about $5. Their numbers, quarterly earnings, $1.38 a share, beating estimates by three cents a share. Amgen out with their numbers, $4.17 a share. They beat earnings as well, $3.76. Amgen shares this morning trading up a bit to $2.46 last night. But right now, you're basically negative by about $2 with a bid ask. It's a wide bid ask, right around $2.39. So we'll open pretty much even for Amgen shares this morning. Gilead, they had their earnings last night. They've been in the press a lot with potential vaccine for COVID-19, $1.68 a share for the quarter, $0.11 above estimates, revenue beating forecast as well. And said it's working with international partners to expand production of its drug, Remdesivir, seen as a potential treatment. GILD, their shares, there's your action there, spiking higher, but pulling back this morning to $81.14 with the market as well. And MGM, they're out with their numbers, losing $0.45 a share for the latest quarter, $0.10 a share more than Wall Street was expecting, revenue also missing estimates, casinos. I mean, I have friends that work in the marketing segment of a New York advertising firm that services MGM in particular. And all of these casinos, you have to imagine, right? Businesses shut down, but man, oh man, talk about a drop, $34 in January to $6 for MGM. We're now at $15.65. We're gonna open down a bit on the action this morning, but we'll see what happens with those. And I think you had United earnings out as well last night. You did, United down a bit with the market so far today as well. Stay tuned, folks. We got our man Larry Pezzavento coming up live with trade. What you see at nine o'clock should be interesting Friday action. We got a week next week, next Friday, non-farm payrolls, but this Friday we get some action in crude above $20, gold pulling back a bit, S&Ps negative by 60. Stay tuned, folks. Larry Pezzavento coming up right now.