 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 Tuesday morning, 60 minutes to go until that opening bell and we got markets in positive territory oil down 10 plus percent right now volatility continuing in that June contract. How futures right now up 356 points that's 1.5 percent the green trading at 24,366 S&Ps above 2900 trading 36 points positive that's almost 1.3 percent trading at 2905 Nasdaq futures up a solid 90 points more than a full percent at 89 15 oil will start things off. Why not the oil contract right now trading at 1144 you're down about 10 percent down 1.1 dollar and 35 cents you see the volatility we had just since about 5 AM this morning you were trading at $10 and 25 cents you trade up a solid two plus dollars from that point we trade down $2 all in the span of about three hours and since then crude now popping about a dollar in just the last 30 minutes these are five minute bars we're looking at you put it even on a 15 minute to see the type of volatility in terms of that swing up and down dramatic fast moves in both directions in that crude market jumping over to the gold contract gold pretty much flat on the session 1723 we'll start things off let's jump over to the charts we'll start it off with the Dow all the markets right near session highs in terms of pre-market session highs Dow trading 24,382 you back it up we really began right at about midnight 23,891 so you're talking about almost 500 Dow points from that level NASDAQ 189 15 midnight we're trading at about 87 78 so you're talking about 130 NASDAQ 100 points S&Ps we go from a price level of 2852 we're now up about 56 points from there because we actually traded a little bit lower almost 20 S&P points we were lower before this market trended higher you see where we finished the day yesterday Monday we finished it about 2865 the market makes it down to 2852 so about 13 points in the negative and from there we've taken off top side basically pre-market session highs at 2908 there's your crude oil contract as we covered we peaked at 1263 at about 530 AM now trading at 1155 gold contract 1724 at about 130 in the morning we're trading at 1706 and the Euro US dollar at 10880 we are full swing into earnings season and I'm gonna jump right into it with some of the biggest names out there in the last basically 12 hours since the close last night Pfizer beats first quarter earnings estimates in race to develop coronavirus vaccine the drug maker reported adjusted earnings 80 cents a share 7 cents higher than the analyst estimate the company reported revenue of 12 billion they were looking for 11.8 to see how Pfizer PF E is trading on that news there's your volatility up to a no PF E Pfizer shares from 3833 we're bidding above 39 on that number you also have caterpillars out with their numbers first quarter sales declined 21% does not give 2020 outlook because of pandemic caterpillar reported revenues 10.6 billion a decrease of 21% adjusted earnings $1.60 compared to 325 a year ago company said it's not providing a financial outlook for obvious reasons caterpillar shares there's your action on that number lots of volatility but up a bit with the market at about a 116 bid by 116.74 offer after closing at 115.20 3M out with their numbers rising after first quarter sales increase on strong demand for personal safety products shouldn't be too surprising there it said it's doubled its global respirator output to 100 million per month since the beginning of 2020 and it's withdrawing the full year financial guidance thanks to uncertainty those shares triple M trading up to about 161 on their numbers from 153 quite a chart here to drill it down we go from about 180 down to 114 you're gonna open at 160 right on this line which is where we were jumping it around in about early February to late January Southwest out with their numbers first loss since 2011 coronavirus drives down revenue 18% surprised it's only 18% I imagine that's gonna be a more dramatic number as we proceed south what excuse me there we go Southwest expense revenue and made to fall as much as 95% from a year earlier the airline disclosed plans for a public stock offering and a billion in additional debt as bookings dry up these companies especially the airlines something like the cruises they need cash to survive a 95% slowdown love will keep it on the daily before we zoom in quite the drop off of course on all these airlines from 58 down to 29 we're gonna open a little bit lower this morning on their numbers there's your action actually spike tire but quite the drop off now at about 2873 why not we'll jump around jet blue in the news I saw as well becoming the first airline to mandate masks starting in early May I believe it's May 5th you'll need to wear a mask so when you think about going back to normal normal not quite going back to normal when just new regulations in terms of when people get back on the planes easing back into things with using masks required now on jet blue starting in about a week I believe Pepsi out with their numbers adjusted earnings rise as consumers stock up a company yanks outlook in March Pepsi announced a degree to buy rockstar energy a deal valued at 3.85 billion their numbers $1.07 adjusted revenue 13.88 Frito lay owner reported first quarter net income of 1.34 billion or 96 cents a share down from $1.41 excuse me down from 1.41 billion or a dollar a share excluding items $1.07 a share net sales rising quite a number still 7.7% to 13.88 billion Pepsi shares trading up on that news decent numbers 136.52 from 134 some context on Pepsi quite the slide now we're going to open at about 136 so we're back right at these levels you're only talking about trading at 147 on the highs of about February 14th of Valentine's Day Merck out with their numbers profits rise cuts 2020 forecast over COVID-19 uncertainty the company now expects its full year adjusted profit forecast to be in the 517 to 537 area they were previously looking for 562 to 577 net income attributable shareholders rose to 3.22 billion or $1.26 from 2.92 or $1.12 a share MRK we're going to open a bit lower there's your long term context from above 90 to 65 we're going to open about 81 there's your action on the earnings pulling lower a bit on Merc shares at 81 90 jumping around to the VIX volatility as this market it's just higher again could we get a 29 or a 30 30 handle potentially we talked about it yesterday this VIX talk about drying up we're now going back to territory here's your run up things really escalating February 20th if you could say even February 19th the last day all was well quite a steep incline to 85 but 31 we're now back in the area that we were trading at in the VIX in late February slash early March almost two full months we've been above these levels as this market climbs back stay tuned folks will be coming back from the program we now have the SMPs as we zoom in in at pre-market session highs 2911 up 1.4% stay tuned folks we'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. 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drop in the clawback from 33 97 down to 21 74 we're now in a 2908 price point for some context and context is so important i use the word often but check out that run as the s and p's now approaching within about 24 points of the 618 retracement of the entire drop that we just had beginning on February 20th it's April 28th and we plummeted from 3400 potentially to 21 74 we're 2908 the nasdaq to see where that is now the nasdaq a little bit of a lag it we're actually not over check that the highs that we had on April 17th in the nasdaq that high being 89 66 we're trading right now at 89 15 back to the s and p's you can see where that level was actually in the s and p's you're talking about higher 28 85 as we're solid 25 s and p points above that level the dow were above that level as well and the dow 618 retracement is a solid almost 800 points above we're trading that right now jumping in the news of the day finishing up with pepsi numbers the company also said expects to buy back 2 billion in shares this year and pay 5.5 billion in dividends keeping that in mind pepsi shares and to zoom it in trading higher this morning as we mentioned there's your volatility on pepsi always good to hear in this type of an environment that you're getting buy back you're getting dividends pepsi seems like they will be okay on a cash perspective harley davidson trading higher this morning on their numbers the motorcycle maker earned 45 cents per share for the latest quarter four cents a share above estimates revenue slightly above forecast however profit down 45 percent from a year ago global lockdowns hit sales harley also suspended share repurchases and cart its quarterly dividend to sue since the share from 38 nonetheless you see the they caught but they beat the numbers maybe the market liking it checking out harley earlier check out that pop from 1894 up to 2083 harley trading at 2035 by 2065 right now for harley davidson dhi they're out with their numbers the home builder beat consensus forecast by 18 cents a share quarterly profit $1.30 revenue also above estimates the home builder company said sales and profits are slowing however and cancellations are increasing due to the coronavirus pandemic not surprising to hear that but check out that pop from 40 to 11 up to almost 46 right now trading with a bid ask of 45 by 45 25 Boeing will resume production of its 787 dreamliner aircraft at itself carolina factory on may 4th its suspended production on april 8th because of the COVID-19 pandemic and plans to institute institute a series of safeguards at the factory before workers return i imagine that's a tough one um you see these man meat plants excuse me ba so pretty much unchanged up a bit with the market we're at 123 83 yesterday boeing just continuing to struggle i mean check out that chart no real bid there at all we're just basically teetering at 128 we've bounced off this level a few times that recent low of 89 all the way back on march 18th from boeing hsbc out with their numbers lower than expected quarterly profit bank earmarked 3 billion for possible bad loans amid the coronavirus outbreak all these billions these banks have to set aside uh should be a real heads up folks in terms of the amount of numbers that they feel like are going to go default there's hsbc at about 25 77 nevartis out with their numbers first quarter profits and sale came in above analyst estimates jumping over to nbs there's your action there up to about 90 64 and what we have after the bell today the biggest of them all for today is going to be google their numbers coming out google now one on i'm going to jump to real quick as we talk about it google set to take a hit at travel website slash online ad spending so check out these numbers here and it would make sense as these numbers uh booking holdings you know in terms of advertising one of the quickest ways you might be able to pull down some costs of bookings the parent of booking.com price line and kayak slash its ad spending on google from about four billion with a b last year to one to two billion so they're going to lose two to three billion dollars from this one customer alone obviously a dramatic customer expedient chairman barry dillard on squawk box over this month his online travel agency which also promotes heavily on google would spend less than a billion on advertising this year down from five billion in 2019 airbnb last month suspended marketing all of these let alone small businesses that's just the large businesses let alone the amount of small businesses um you know we advertise on google many businesses do it's an easy way to reach people with a targeted demographic and it'll be interesting to see what they have to say tonight uh after the bell you put this on some longer term action on google and i already had this set up here we're teetering in about a 50 percent right we discovered the markets were actually inching back towards about a 618 all of them depending on what you look at nasdaq's already been above that level but compare that with a company like microsoft because you know you're looking for strength microsoft's going to open 175 we're only at 190 190 uh facebook shares similar action in terms of well off the highs from 224 to 137 you know you got to pull up amazon because quite an acceleration the recent highs before all of this at about 2196 we climb up to 2461 we're going to open at about 2383 netflix similar action as well almost near those all-time highs and how about tesla talk about an acceleration we're going to open at about 795 tesla from 968 down to a low on march 18th of 350 dollars we're now trading at about 800 dollars on tesla shares jumping around the other news stories and there was the jet blue story i talked about that they will mandate face coverings for passengers taking effective may 4th i imagine you'll see the other airlines follow suit dr currick currick dr pepper the company reported quarterly earnings 29 cents a share to above estimate i was checking out this earlier kdp there's some drop in acceleration but today we're going to open even higher at about the 28 dollar range so currick dr pepper getting back all of the losses from 18 to 28 i'm going to jump around as we finish this some of the stocks i've been looking at and i talked about them recently but man they've got some action recently check out that acceleration on disney so even from friday you were down at a below 100 dollars two days of an acceleration we're going to open more than two dollars higher on disney at one away 10 disney one of those companies really suffering but seeing a huge build up in terms of whoops i'm going to pull this over because both of these companies have earnings next week disney earnings on may 5th so that number coming a week from today you're going to get disney earnings should be interesting and i think the market anticipating that you know they've come out and they've already told the market that they have 50 million plus subscribers i imagine there might be some optimism in those earnings that's just my opinion but i i imagine so and that's part of the reason why you see disney up 8 percent from where we're trading at on friday some of the ride sharing companies getting quite a pop as well if you just back it up to last week that ridiculous low of 13 dollars with the market but even from where we were as of april 3rd trading from about 21 to 30 we're going to open at about 31 and how about the cannabis stocks check out that action from 1450 on friday up to almost 18 dollars your canopy stay tuned folks we'll be right back to finish up the program see what else like 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 if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers 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about 35 minutes to go until the open and bell don't forget folks check out the front page tom's going to be doing a timing the trade webinar all day two days from right now it's going to be starting in basically 48 hours sign up on the front page of tfnn you'll get his physical copy of a book mailed to you you'll get a month of his market insights that starts instantly instantly you can get in there for a couple of days before the webinar get into market insights for you current market insight subscribers out there you get a free month of market insights applied to your current subscription so you add that savings there as well all on the front page of tfnn two days from right now check it out on the front page going back to other stories we have happening in the market talking about the potential for a meat shortage all of these processing plants breaking down you have Tyson you have two other meat processors coming out in terms of almost a third of us poor capacity is down and jbs said sunday will shutter another beef production facility in washington brazil the world's number one shipper of chicken and beef saw its first major closure with the halt of a poultry plant and key operations are also down in canada the latest being a british columbia poultry plant hundreds of plants in america still running but you're gonna see potentially basically a little bit of squeeze on meat for a short period of time but that could be happening what else we have happening if you saw it out there the pentagon declassifying three ufo videos taken by navy pilots pretty cool if you haven't seen it folks check check it out it's uh it's worth watching who knows who knows that they were looking at um no one really but and if you're a if you're a belgian good news to you you're urged to eat fries twice a week as coronavirus creates massive potato surplus belgians are being called upon to eat fries at least twice a week as more than 750 000 tons of potatoes are at risk of being thrown away so it looks like they'll have plenty of food over there and we'll wrap it up with minutian he is out there i believe on cmbc talking about um how about the lakers gaining access to one of those small business loans i believe they may have returned that money they probably will be but i'll read you outrageous i would agree some of these companies stay tuned folks larry pizvento live with trade what you see at nine o'clock i'll be back at ten o'clock with tom live programming all day at tf&m we'll be right back