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starbucks, ford and amd. josh lipton is out west with the latest on amd and phil lebeau is in chicago and we kick things off with kate rogers and starbucks. >> a mixed second quarter for starbucks and they beat on revenue and same-store sales fell by 10% globally and 3% in the united states and 50% in china. starbucks said it had a very strong holiday season and one of the best in history before covid disrupted operations causing it to close half of its stores temporarily in the u.s. and that's its biggest market. ceo kevin johnson sounded upbeat and positive on the earnings call nearly all of its stores in china are now back to normal operations and same-store sales were down 35% in china in february that number was down 90%. starbucks has now moved on to a monitor and adapt phase here in the u.s. and it will start to slowly and carefully reopen in may. while starbucks did pull its full-year guidance, and the onset of covid-19, it expects the negative financial impacts of covid-19 to be significantly greater

if it is their daily starbucks, or maybe they cut back a little affinity thatn customers have for starbucks, and we work hard to earn that loyalty and trust, and that is what has carried us through recessions in the past. but i think competitively, we understand that we differentiate by the work that we do to create a great customer experience in our stores, through the beverage innovation, and through digital customer relationships. that model was working pre-covid. the first part of this quarter in the united states, we were posting 4% growth in transaction. going through covid, being responsible, thoughtful, focusing on that safe, familiar, convenient experience, we think that is going to become the on-ramp, and as we go forward, we will continue to do everything we can to provide that great experience to customers. in the past, that has gotten us through recessions, and i think that is going to play out through this one as well. david: do you have any sense at this point of what might be permanent or long-term changes in starbucks' business? for example, the percentage of aged orders, o

we've got some breaking news on starbucks and their employees. for that, let's go to kate rogers kate >> hey there, brian. starbucks just announcing it's going to be extending catastrophe pay and other covid-19 benefits for its employees through may 3rd. let's take you through this what looks like here. this pay is for any partner who is sick and self-isolating and chooses to stay home during this time originally this program was intended to be for 30 days ending near the end of april those who are healthy and choosing to come to work will receive an additional $3 an hour with service pay the company also announcing that temporary cafe closures and modified operations will continue through may 3rd in addition, it will be sending thermometers through all company-operated stores for those who want to moderate before shifts begin. they're looking into non-medical grade mask options for workers and it's donated $3 million to response efforts and updates for starbucks workers who are opting to stay home, are sick and taking care of loved ones and thos

i think you are taking a look at starbucks. scarlet: starbucks trading lower sales% after comparable in the second quarter fell 10%. forward is also down in after it seesading after second quarter ebit loss of just over $5 billion. romaine: we are going to talk a little about credit right now and the fed's decision to jump into the high-yield debt market has been talked about a lot. lisa lee was on the byline of a great story on the terminal earlier today. the credit market whale is the federal reserve. >> yes, the federal reserve has become the biggest supporter of credit markets. 9 washey did on april such an aggressive move. in a way, sort of interesting. they in some ways are just dipping their toe in high-yield debt. but that was enough. they said they would buy some of the fallen angels, also buying uncertain levels, certain types of debt. that was not enough because the signaling effect was so powerful. investors in the high-yield bond market, the risk asset classes, have taken that signal has the federal reserve willing

have for starbucks. we worked hard to earn that loyalty and trust. that is what has carried us through recessions in the past. >> i believe that was kevin johnson of starbucks, the ceo speak with david westin. we were just trying to figure out if yours done speaking. let's start with ebay earnings. its full-yearing of guidance. in some & co.'s are withdrawing their guidance, ebay says it is sticking with its full-year forook for revenue of 9.6 -- $9.65 billion. romaine: a lot of people pay attention to that negative free cash flow in the first quarter. 895 million versus a profit in the previous quarter. of course, these numbers continue to be erratic. they can't say that really provide any guidance with regards to when it will be able to ramp up production or anything else. i believe we also have microsoft in as well. sales rise.rosoft this gave a lift to its cloud services. microsoft showed a slowdown in personal computing benefiting. you can put microsoft in that category of companies that benefit fro

that's the dynamic that's going on below the surface of this market >> starbucks after the close will be really interesting given what they've seen in china and also samsung ahead of apple coming, of course, fairly soon as well. we're out of time for mike, sarah and i, thanks for watching >>> welcome to fast money, i'm melissa lee. coming up on fast, what you can expect when these tech titans begin announcing their results >> our -- president trump wrapping up a meeting with retail executives. kayla has the lightest >> reporter: this white house press conference will now be at 5:30 p.m. where we expect the discussion to revolve around testing capacity so more americans can get tested and go back to work the white house is expects to release two documents this evening. one is a chronicle of actions taken to date so far to ramp up the capacity of testing in this country. the second is essentially a blueprint for states for how they can get access to more tests, and what resources the federal government has that are available to them. the president hosted many leaders from retail and far

and coming up next for us, former starbucks ceo, howard schultz, building an economic bridge to help small businesses survive through the pandemic. because you didn't have another dvt. not today. one blood clot puts you at risk of having another, chose keep proteed. isven to treat and reduce the risk of dvt at risk of having another, or pe blood clots from happening again. almost 98% of people did not have another dvt or pe. don't stop taking xarelto® without talking to your doctor, as this may increase your risk of blood clots. while taking, a spinal injection increases the risk of blood clots, which may cause paralysis- the inability to move. you may bruise more easily or take longer for bleeding to stop. xarelto® can cause serious and in rare cases, fatal bleeding. it may increase your risk of bleeding if you take certain medicines. get help right away for unexpected bleeding or unusual bruising. do not take xarelto® if you have an artificial heart valve or abnormal bleeding. before starting, tell your doctor about all planned medical or dental procedures and any kidney or live

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if it is there daily starbucks or -- their daily starbucks or maybe they cut back a little bit, there is an affinity customers have for starbucks. we work hard to earn that trust. that carried us through recessions in the past. yvonne: that was the starbucks ceo kevin johnson. india's largest company by market value is planning to sell shares to its investors for the first time in 30 years. a stepped up effort to pay down debt. this is the third fundraising reliance industries proposed in recent weeks. let's get more with our india conglomerates reporter. what do you make of this rights issue? >> very interesting. this is happening for the first time in the last 30 years. showing some confidence in the company. time thehe third company is seeing capital raising in weeks. they announced in a vicious saudi aramco deal -- an ambitious saudi aramco deal that was delayed because of covid issues. the other was a facebook deal. this is the third one. -- it is expected this will help the company bring down its net debt level 20 by next year. -- level to zero by next year. lost theink we just

connell: starbucks reporting numbers after the bell. earnings is light two cents a share in the most recent quarter. 34-cent estimate. they did top expectations for what it's worth on the revenue side. 6 billion even. the stock barely budged in after-hours trading. a few headlines before we move on that kind of stand out on the starbucks earnings report. one is, if you're driving around now saying how many of these starbucks stores are closed? it is half. they said in the united states 50% of their stores are currently temporarily closed. you have starbucks by us has a drive-in. another one might be closed t works out to half. they made comments about china. they see a substantial recovery in the business in china, which is huge for starbucks, by the end of the year, at least have all the stores open at least on some basis. they have restrictions. half the stores closed here in the u.s. revenues better. earnings a little light. that is another big one from starbucks. we move on to farming a lifeline for local farmers. industry taken a h

that continues to take share sh starbucks two and chipolte is three. that shows where they are spending their time. and it depends if you can get

pepsi-cola, chick-fil-a, subway, bloomin' brands, yum brarngsds papa john's wendy's, wolfgang puck, starbucks, thomas keller john george, my friend john george, and danielle. you know them. from the transportation world, fed ex, fred smith, united

also getting numbers in from starbucks. that stock loo looks down on the immediate reaction kate >> well this is looking like a mixed q2 adjusted eps at 32 cents that's a miss. revenues at $6.00 billion compared to analysts estimate of $5.89 billion. take you through the comps numbers here very much impacted by the covid-19 pandemic. global comps down 10%. u.s. comps down 3% partially off set bay 5% increase in the avrnl ticket that is the company's outside the market obviously a big drop there loyalty reward members it's important to know starbucks was having a very strong holiday season and forced it to close more than 50% of its stores. they're slowly starting to open back up in china they are nearly back open at 100% capacity in the united states we're going to start to see slow reopen beginning in may. we've heard about different formats of stores opening up with drif through mobile order and pay so we'll expegt to hear more on that and what that might look like for customers really wonderfing what the future of starbu

the ceos of boeing, amd, starbucks, spotify and ge. futures have doubled on these positive data points about gilead's remdesivir. stock is still halted. q1 gdp down to 4.8 fed decision at 2:00, jim. the first virtual presser at 2:30 it does seem like remdesivir will dominate the conversation for the next -- maybe the open >> i think that we've all been searching for two things one, when can we have a vaccine? the answer is not for a long time even the greatest optimists think a mass vaccine in the middle of 2021 maybe something smaller this fall the idea of something that is just given to you in the hospital iv that makes it so it eliminates the -- let's say the odds of you dying, it's something that makes us feel like maybe this is the tamiflu for this dreaded disease i think, of course that makes people feel more optimistic. everybody wants the country open, but nobody wants to do it's been that stark, that bipolar. how about we get it open versus getting really sick. that's something that people will say open it up, that's why the m

starbucks was one of the best stocks on the entire market. there's some reason to think that starbucks will be one of the names you want to be in. they have a ton of cash and there's been a huge discount in their stock created by their large holdings, the four major airlines go on and on. if you're worried about their insurance business, what happens after this is premiums go up and not down i like that name too then i'll throw in zoom which they just told us, today, that they went from 200 million daily users to 300 million daily users in 20 days you can't even put instagram's growth against that. that's unheard of in silicon valley i'm trying to stay in those names. a amazon, names benefitting today. i'm trying to do what jim is thinking what do i want to own as people feel better and we start coming out of this. if you're doing both at the same time, you'll be pretty happy a couple of years out. >> what happens, john, and some people are suggesting this on twitter as we're having this conversation that the quote, unquote expected dip never

we are starting to see starbucks reopen in china. factories there impact the supply chain for the market darlings like apple for example. retail and tech have played a bigger role for investors there. there are opportunities for the stimulus some of the fact that the curve may be flattening out of the virus. >> as we round out here, where are your clients putting your money right now? are they betting big are they taking leveraged bets >> we are seeing a little bit of all of it. clients are looking for quality. in the short term, 3 x trade we are seeing a flow into tech and investors enabling us to work from home also acting like a defensive stock right now. you will have potential earnings recovery into years to come because of the reliance on things like video streaming, webcasts, zoom, faster speeds that we need to work from home we have the clouds are doing well microsoft earnings and revenues are expected to increase second is consumer discretionary. >> we have to leave it there we are out of time we'll get you on again soon. so

i went and got a starbucks yesterday. they had the boxes drawn where we can stand and i got it and i left. >> but you still got it. >> that's true. i was happy. >> that's the headline. >>> but coming up next, an east bay restaurant owner is showing us what restaurants could look like when we're allowed to go out, again. >>> plus, we're looking at malls of the future. the changes being made to make sure that shopping is safer for everyone. >>> what do 40 years of wishes feel like? they feel like wonder and joy. like laughter and smiles and unforgettable memories. and at disney, they make us feel grateful to have been a part of it from the very beginning. soen othis world wish day as we recognize the 40th anniversary of make-a-wish, we say to all those longing to see their wishes come true, we can't wait to be a part of the next 40 years. >>> abc7 news. >> all news all morning. >>> in the east bay hundreds of surgical masks all over the freeway on southbound 880 yesterday afternoon. the chp telling us someone apparently dum

you know him, the former chairman and ceo of starbucks. he has expressed concern too not only how they roll this out but what role maybe the federal government can play here, to sort of help facilitate all of this. howard, very good to have you, when you were talking about the federal government has to do more, what specifically were you talking about? >> well, thank you, neil. with all due respect to senator lankford and the republican senators who believe that ppp one and ppp two is enough, they're unfortunately very, very wrong. there is 30 million small businesses in america in which there are 500,000 independent represents. those small businesses represent 44% of the overall economy. they will not have enough money after ppp runs out for those that were abe to get it, most of them didn't, to reopen in a, in a world in which they will only have 25, perhaps, 50% of their revenue, because the revenue that is coming back after they reopen is not going to be the way it once was, it may not be again. as a result of that, the resources that

the starbucks announcement was terrible nike and starbucks are the two ways to play china they opened in wuhan starbucks is lucking -- apparently and i think starbucks china is going to save the day here while they figure out social distancing. and they'll figure that out. kevin johnson knows how to do it he'll use my method, i bet, contactless. you just come in i got a lot of things cooking. i think starbucks is a buy because of china, not because of the decline in america >> and jim, talking about a lot of things cooking, what are you feeling about the broader market as we watch the s&p up over 2 %. we've had an enormous rally from the recent lows. we're down 13% for the year. i think last 12 months we're only around 2 %. there are those who believe we will retest the lows even as we start toopen up the economy and even with all these extraordinary measures that the fed is taking, nonetheless, those who invest are going to be stunned by just the level of or the lack of earnings from so many corporations and we may retest do you think that's a possibility or are we too far from that

if you have been missing starbucks coffee during this pandemic you might soon be in lock up next when and how many plans. the store has starbucks says it plans to start reopening its stores next week with 90% of company own stores in the united states up and running by june as of now roughly half of the coffee giant's us locations are temporarily closed during the coronavirus pandemic the phase will reopen. stores with shorter operating hours and modified operations. this includes more efficient drive-thrus and possible curbside service. lyft is now laying off nearly a 1000 employees and furloughing nearly 300 more as it tries to reduce costs amid plummeting demand for rideshares the layoffs equal 17% of the company's workforce. in a statement lyft ceo logan green said the covid-19 pandemic is going to have broad implications for the economy and they want to quote emerge from the crisis in the strongest possible position to achieve the company's mission. lyft is also cutting salaries by at least 10% for all employees for 3 months that starts in may. executives and vice presidents will

month starbucks cafes throughout th u.s. that closed after a shelter-in-place orders went into effect due to the coronavirus other lotions down to just drive through g service. these opened doors are a signal that some businesses are trying to find ways to get back to priding service for customers as well as havintheir employees get back to running a levy says san francisco chamber of commerce spokesperson, jj it's a good start i think that businesses right now are struggling with 2 things one how do we keep our employees ployed and we could and workers we need to bring in income but so it that very creative with a nding the right to elter in place the righsocial distancing, but do it the rk it takes to a serve their customers and deliver their pructs, san francisco based feels coffe has also reopened after closing down back on rch 20 20 a wave of businesses closed down around that time leaving behind scores of boarded up windows and doors locked behind secity gates. take a look at those empty yellow loading zone that brian

. >> we have starbucks, it looks leak it's coming up, and rahel >> according to starbucks it looks like it could be 32 cents and guidance is not something we're hearing a lot about and the company providing some context saying during the last month of march it declined 60% to 70% perhaps not surprising considering that the company only operating 44% of their stores in the midst of all of these shutdowns and stay at home orders and the company saying not withstanding the very strong performance of the first ten weeks of the quarter that comp store sales were actually only down in the u.s. approximately 3% in q2 versus the prior year for the last week of march, sales were down -- comp store sales were down 60% to 70% and over q2 they were down just about 3% and their estimates for the business disruption because of covid-19 and because of coronavirus and china were in line with their expectations although they came in at the low end of expectations. so brian, i will send it back to you and the eps outlook guidance from starbucks coming in, and the expectation had been 39 cents. >> 17% dro

jillian: starbucks exploring how to reopen stores. who doesn't miss starbucks right now raise your hand. >> reporter: i missed it in the city. kevin johnson sent a letter to employees saying they are ready to monitor and adapt their strategy to begin the process of reopening us stores, the letter came the same day the president spoke with governors about how to get closer to normal. this will be on a case-by-case basis, looking at it region by region but your favorite starbucks will probably look a little different, there will likely be contactless service, entryway pickup, curbside delivery. that may be the new normal for a while until they figure out if it is safe. if you live in new york you know what i'm talking about. rob: anywhere to go anything to do. thank you. the pga tour promising to get back into the swing in june. jillian: planning to host the charles schwab challenge in texas, kept away from pro golf events, the pga hoping to host tournaments until the beginning of september. rob: this follows recommendations from doctor

and we will have a live interview with the ceo of starbucks 10:30 a.m. in new york. construction industry bellwether caterpillar is warning the fallout from the coronavirus will last sometime yet. the company said the current time will be more significantly impacted by the pandemic. they shelled the traditional full-year earnings forecast as a disruption offense in building, mining and injury -- industry. the british airways owner said hedging write-offs as intricately to a first-quarter loss. iag says that will mean a restructuring, a loss of 12,000 jobs. the forecast is for a second-quarter loss that could be significantly worse than the $580 million shortfall through march. coming up next, the fed decides. a wells fargo security strategist tells us what he is watching for in the fed announcement and what you should be watching in the weeks ahead. this is bloomberg. ♪ >♪ saw a risk to the outlook for the economy and acted. rangereduced the target for our policy interest rate by one percentage point, bringing it closer to zero. ♪ >> we are deploying these lend

[indiscernible] that's been showing in starbucks. people are not taking you been to do lower prices. what they are doing is on the rally, they are selling into the rally. that 80% of time stocks go up because they are being bought, they go down because they are being sold. there's 15% to 20% that as they go lower, you are buying, or as they go higher, you are selling. but starbucks is not going to get up and run away. one of the more interesting recent examples we had was last , when the industry was almost unanimous that you want it to switch into value and cyclical stocks. when we look at the value of cyclical stocks from september theoctober last year, market was not endorsing that conclusion. so we stuck with the growth technology. basically, what we look for is what is the market saying. market is telling me that people are selling it. listen to the market. vonnie: listen to the market. laszlo, thank you. it is always nice to have an interpreter of what the market is saying. that is laszlo birinyi of birinyi associates. guy: com

the starbucks, they've got a full menu printed on the wall of the starbucks, and the target check stand has got real snacks like chips and juice. the family says local stores hooked them up with the real target name tags and the classic green aprons from starbucks. so what stores are you guys missing the most? i'm going start with spencer. >> well, wow, i'm missing restaurants. i'm missing my favorite restaurants. and i love italian food. and i have two or three favorite italian restaurants in the city i love going to. one of them is offering takeout right now. so we've gone there. we've ordered and picked up the food at the door. so that's what i'm missing most. not a particular store. >> yeah, i think the same. you know, i miss the chance to just go window-shop and poke around sometimes and kill a little time. i remember when we were kids, this reminds me, my brothers and sisters and siblings, we set up restaurant upstairs in one of our bedrooms, stole the food from my parents in the kitchen, set up restaurant and charnld them when che came upstairs to eat at the restaurant. we got th

. >>> starbucks lance to gradually reopen a significant number of its locations starting next month and the company ceos that it will make a locally-based decisions using data on covid 19 cases while working with state leaders and many starbucks cafis have been operating with drive-through or pickup only service. and ford is experimenting with with new wristbands for its workers that vibrate when it gets too close to each other and a dozen employees at a plant in michigan are trying out the watch like devices. bloomberg news said the carmakers introducing other safety measures including thermal scans for fevers and protective equipment and some of the ford factories are currently manufacturing ventilators and respirators for hospitals >>> the stay-at-home orders are having an interesting effect in nature with fewer people around the beaches on the outer banks of north carolina have become filled with sea shells and tourists normally pick them up to collect especially in the spring and summer. the seashore remains closed to visitors and those who live by in that remote area are the only

month starbucks cafes throughout th u.s. that closed after a shelter-in-place orders went into effect due to the coronavirus other lotions down to just drive through g service. these opened doors are a sil

weighing on traditional meat manufacturers and beyond meat centered china through a partnership with starbucks so i go to b.k. because you're a chief alt-meat correspondent having extensive experience with both beyond meat as well as impossible burger, but do you buy all of these sort of tailwinds for this stock >> i mean, so, one, yes. i did the vegetarian challenge and i tried both the beyond and the impossible burger. i just have to say impossible is much better and when you push it down on the grill it just smells and not good nonetheless, in this environment, it is a trading stock in this environment and everyone is looking at it and they're up 41% and hard for b.k. to buy it. in this environment i certainly like it. >> up 41% for the week and i don't know where you stand in this sector. if there is a meat shortage, beyond meat can still crank out meat as long as there is key protein available in this world and that supply chain is still good >> people at home, aren't that they eating frozen french fries and frozen pizza or something like that? >> i am. if this is all about the meat short

you've got starbucks talking about reopening stores, when they'll try to get to even greater capacity by early june i mentioned small caps the home builders going for six days in a row. all of that is overshadowing that gdp number. so where does it take us >> well, scott, i think it takes us to a position where you're reacting to the messaging from the market and the messaging from the market is very difficult to digest relative to the economic news that we're going to be receiving. so that's where you have to have the discipline to stay focused on the investments obviously, as we've been talking about the last couple of days, it is the cyclical component of the market, which is moving higher in anticipation that some of the economy will be reopening here domestically. so financials, industrials, energy, that is where the leadership has been in the last couple of days the russell, which you mentioned, that's up about 10% in the last five days. it's now trading at its highest level since monday, march 9th. remember, that was the monday we came in with the opec lack of communication, th

>>we're open this jackson street location in san francisco was a month starbucks cafes throughout the u.s. that closed after a shelter-in-place orders went into effect due to the conavirus other locations remained open, however scaling down to just drive through service. these opened doors are a signal that some businesses are trying to find wayto get back to providing as having their employees get back to running a levy says san francisco chamr of commerce spokesperson, jj it's a good start i think that businesses right now are struggling with 2 things one how do we keep our employees employed and if you put it in >>workers we need to bring in income but so is it that very creive with a taking e right to shelter in place, the right social distancing, t do it the work it takes serve their customers and deliver their products, san francisco based feels coffee has also reopened after closing down back on march 1720 20 a wave of businesses closed down around that time leaving behind scores of boarded up windows and doors locked behind security gates. >>take a look at those empty ellow lo

starbucks comes through as a good corporate citizen. >>> also getting pushback, "top gun 2" which was originally set to hit theaters june 24th. up until now, paramount hadn't said anything. now paramount which is releasing the movie has pushed it back to christmas. another paramount movie we have already told you about, "a quiet place 2" will be released in theaters on september 4th after being pushed back last month. we've got viacom cbs parent up .75% right now. >>> we want to keep you updated on what is happening with amc entertainment after the ceo adam aaron joined us first two weeks ago. lenders for the world's largest movie theater chain have reportedly hired restructuring lawyers to avoid bankruptcy after closing all theater locations for up to 12 weeks. this is now a $2.20 stock, down 15% today. and amazon, remember we told you about the amazon strikers this week? well, they have elicited some progress here. after some warehouse workers in staten island staged a protest and workers in romulus, michigan walked out, the e-commerce giant said it will begin taking temperatures of

starbucks cafes throughoutthe u.s. that closed after shelter-in-place orders went into effect due to the coronavirus other locations remained open, however scaling down to just drive through service. these open doors are a signal that some businesses are trying to find ways to get back to providing service for customers as we as having their employees get back to running a levy says san francisco chamber of commerce spokesperson, jj it's a good start i think that businesses right now e struggling with 2 things one how do we keep our employees employed and its d workers we need to bring an incumbent, so is it getting very creative with feet in place, the right social stancing, but doing the work it tas to a serve their customers and deliver their products, san francisco based feels coffee has also reopened after closing dowback on march 1720 20 a wave of business closed down around that time leaving behind scores of boarded up windows and doors locked behind security ges. take a look at this and the yellow loading zone

trust me, they need it, but the former starbucks ceo says that is not enough. what this country needs is a marshall plan. >>> more and more of veterans are dying from coronavirus, and nurses say they do not have enough ppe to protect themselves. secretary of veterans affairs joins me live. >>> but first, news i do not want you to miss. a new bipartisan investigation from the senate intelligence committee confirms the assessment that russia did in fact interfere in the 2016 election to help then candidate trump. the report from the republican-led senate intel committee found that initial assessment was correct and there's no reason to dispute the community's findings. dispute te community's findings 's tough tot smoking cold turkey. so chantix can help you quit slow turkey. along with support, chantix is proven to help you quit. with chantix you can keep smoking at first and ease into quitting so when the day arrives, you'll be more ready to kiss cigarettes goodbye. when you try to quit smoking, with or without chantix, you may have nicotine withdrawal symptoms.

starbucks set to reopen a significant number of stores. >> they plan to reopen a big number of stores beginning monday, the goal is 90% of stores to be reopened by early june. they closed about half of the company operated locations and turned others into drive-throughs. it will look different, mobile pickup for orders, contactless handoffs, no seating in the cafÉs, employees will have temperatures taken before they go to work and be required to wear facial coverings during their shifts. many of these locations, i handed to starbucks, grocery store locations, hospitals and medical centers, they left those open. rob: coffee drinkers it is like a mental health in, people don't get the starbucks they go crazy. >> grocery store workers, nurses and doctors and hospitals are working around the clock. rob: appreciate it. she is being called a modern-day rosie the river for putting america first. >> we are talking to the business leader who is mobilizing her textile factories to produce life-saving ppe. >> see what is coming up on "fox and friends". >> i hope to see you in person one day. i

the ceo, howard schultz, of starbuck's joins me now. howard, thank you for what you and your team are putting together. what are you guys doing? you've got 100,000 food service workers in and around seattle totally out of work. >> poppy, thank you for the opportunity to talk about the plate fund. you're right, there are hundreds of people struggling, not to mention restaurant owners whose restaurants have closed. in seattle because we were so early with the epidemic, restaurants have now been closed almost three weeks. that means three weeks without a paycheck for almost 100,000 people in seattle. it's going to be a while before they get a stimulus in assistance, so we have stepped in, and with a very innovative program said what can we do to provide $500 million in cash with thousands applying for it? it's clear that seattle was ahead of everyone else in the country and we've begun to flatten the health curve here in terms of the virus. i think what's really important to understand in seattle and the rest of the country, we also have t

the venture capital firm, sequoia capital, sgit the pandemic crushing the economy, starbucks wants to keep growing erthe. we'll tell you why these days staying connected is more important than ever. so we're working 24/7 to maintain a reliable network, to meet your growing internet needs. we're helping customers who are experiencing financial difficulties stay connected. we're increasing internet speeds for low income families in our internet essentials program. and delivering self-install kits to your door. nos comprometemos a mantenerte conectado. we're committed to keeping you connected. for more information on how you can stay connected, visit xfinity.com/prepare. >>> another big bankruptcy being filed. stock futures are shrugging it off and higher dow futures indicating an open of 200 points. >>> new worries for the $370 billion in fresh small business aid before it even becomes available. we're speaking with two small business owners who were given the green light to reopen, but will they? >>> one top bank out with a new warning about a troubling signal that the s&p 500 might be

on jackson street was among the starbucks cafe all across the united states a close after shelter-in-ace orders went into effect. >>ch was san francisco chamber of commerce says this is a good sign. >>i think that businesses right now are struggling with 2 one how do we keeour employees employed and if you put and workers we need to bring an incumbent, so is it geing very creative with feet hitting the t to shelter in place the ght the work it kes to a serve their customers and deliver their products. >>san francisco bay spills coffee also op its stores after closing them back on march 17th at this time there is no dine in servi of course, it feels coffee nor at starbucks or anywhere else stomers ll have to place mobile pick up orders instead. >>when it was really hittin me. could really feel like it s battling for control of my body. >>a san francisco man sharing his recent battle against covid-19 chris for mode says he was sick with the virus for almost 3 weeks. even though his symptomshave subsided he says his heal isn't the same kron four's 10 or purse aqi talk to him toght she joins

toughest thing to do >> josh brown, you can finish off here >> starbucks, scott. cake pops for the win. >> cake pops all the way around. all right, guys. you all be well. good seeing you. let's get a quick check on the market, too, as we head out here mcdonald's weighing on the dow s&p off 4% we'll hand it off to kelly right now on "the exchange." >> thank you, scott. welcome, everybody with stocks falling on this final day of april, amid a flurry of mixed earnings and weak economic data, it's been a strong month for stocks, though. the dow and s&p having their best month since 1987. the s&p is up about 12% right now. the nasdaq is up nearly 15% for its best month since 2000. let's check on the markets, as stock just mentioned, we're seeing these red arrows down, 1.3% but the nasdaq is only down 55 points keep an eye on that one. it's only trading lower by two-thirds of 1% it's also been a

and i think starbucks will benefit from that opportunity. it will take time for people to feel comfortable again we are all longing, i think, for the people that we see every day at work, for our friends and family, and i think that's going to be an opportunity when we get through this i think it's true, it will take some time for people to feel comfortable again to go back to the pattern they once had. >> howard, back to restaurants for a moment supporting the workers right now is paramount, but i wonder when we get back to some sense of normalcy, and you are a restaurant owner, you will need capital to reopen. it's not like you're going to be able to flick a switch do you agree with that do you think the capital will be there? is that a concern as well? >> it absolutely is a concern. thankfully starbucks has the balance sheet and the resources to manage through the most severe situation but i think most restaurant owners, you are correct. one thing i would hope the government and the stimulus package would look like in the second and third

starbucks cafes throughout the u.s. that closed after a elter-in-place orders went into effect due to the coronavirus other locations remained open, however scaling wn to just drive through service. these open doors are a signal that some businesses are trying find ways to get back to providing seice for customers as well as having their employees get back to running a le says san francisco chamber of commerce spokesperson, jj it's a good start i think that businesses right now are struggling with 2 one how do we keep our employees employed and and floyd workers we need tobring in income and so is this it's been very creative with 8 ening the right to shelter in place the right social distancing, but doing the work it takes to serve their customers and deliver their products, san francisco based feels coffee has also reopened after closing down back on march 1720 20 a wave of businesses closed down around that time leavng behind scores of boarded up windows and doors locked behind security gates. take a look at those em

after the closing bell today, big earnings reports of alphabet, parent of google an starbucks. two stocks to watch in the afterhours session kelly evans picking up the breaking news coverage and she starts that coverage right now >>> thank you, dom welcome, everybody, to "the exchange." i'm kelly evans and stocks are searching for direction struggling to make a fifth straight day of gains. dow up 380 at the highs but up 70 right now s&p up 1 point and the nasdaq turned negative by 61. energy is weighingon sentiment again with an another wild ride for oil. one point today we fell 20% to a low of 10 bucks a barrel right now trading just under 13 for a half a percent gain. richman fed sentiment sinks. consumer confidence the biggest monthly drop since 1973. losing the confidence built up in this administration let's get to it with bob pisani, especially with the nasdaq lagging and big tech earnings on tap. robert >> fang is not helping us at all today. the s&p 500, we were about to break out early this morning 2920 we were up there. that's the highest level since march 6th believe

>>starbucks says the last billion in its fiscal 2nd quarter due to the coronavirus related shutdowns the coffee giant says conditions will likely worsen this quarter, starbucks predicts recovery from its losses will probably extended to 2021, starbucks does add that it is planning to reopen 90% of its stores with modifications by early june. the stay at home orders are disrupting a lot of small businesses all over the country and his other states begin to reopen. some bay area businesses are also eager to reopen in fact a vacaville hairstylists is defined the shelter-in-place order today she reopened her salon to existing clients despite not being considered essential essential business kron 4 sleep jungle tells us the owner says she's willing to risk a fine or the possibility of her business being shut down. >>6 weeks without marking is long enough for the rivera she owns hair and if the salon in downtown vacaville for businesses considered non essential and has been closed during the shelter in place but rivera says she can no longer afford to keep clients away survival tactic at t

there's a starbucks that's right along jackson street there among the starbucks cafes throughout the u.s. that close after the shelter-in-place order went into effect. jachatting with san francisco chamber of commerce says this is a good gn. >>i think that businesses right now are strugglinwith 2 things one how do we kep our employees employed and and floyd workers we need to bring an incumbent's a business it been very creative with a taking the right to shelter in place the right social distancing, but doing the work it takes to serve their ctors and deliver their products. >>the san francisco base fails coughing also opened its stores after closing the back on march 17th. at this time there's no dine-in service available at feels coffee or starbucks customers will have to place at mobile water and then justpick it up instead. >>a startling new information frothe cdc that report says the conavirus can travel through th air at least 13 feet and can also be carried on our shoes. researchers looked at that were taken from ani c u and in general covid-19 ward at a hospital in wuhan wil

the starbucks that you see heron jackson street was among starbucks cafes throughout the u.s. that pretty much close and shut down after the shelter-in-place orrs went into effect. jay chain with san francisco chamber of commerce says this is a good side. >>i think that businesses right now are struggling with 2 things one how do we keep r employees employed anits nuclear and floyd workers we need to bring in business it been very creative with a tending thright shelter in place the right socil distancing, but doing e work it takes to a rve their customers and deliver thei prodts. >>san francisco bay spills coffee also opened its stores after osing them ck on march 17th at this time, they're still no dine-in service that sells coffee or starbucks, you just have to you know placeor mobile order and st pick it up instead. well as elected officials discuss reopening the economy one of the country's largest unions called for better protection for grocery store workers ring this pandemic kron four's kay burlhas details. >>as grocery sres and otr retailers with big food business con

we appreciate it thanks >>> coming up when we return right here on "squawk box," former starbucks ceo howard schultz is going to speak with us about the trillions in bailout money allocated by the government the debate over who deserves cash and who doesn't as we head to a break, check out the price of wti crude oil may contract expiring and well off the lows next contract for june is much lower this morning stay tuned we'll be right back after this >>> don't forget to subscribe to our podcast. you'll get interviews, original content and behind-the-scenes access look for us on apple podcasts or on your favorite podcast app and subscribe to "squawk pod" today. there's tv, and then there's the best entertainment experience. xfinity x1. >>> welcome back to "squawk box. futures on the dow down just under 600 points nasdaq down almost exactly 100 s&p indicated down 555 shares of labcorp rising received emergency use authorization from the fda for its at-home covid-19 test kit. that means you would have to be approved for a test which uses nasal swabs to determine the presence of the virus.

china is open, starbucks is putting up new stars with lackery ti there i bet starbucks returns to growth mode because people love their caffeine they love that nitro stock is a buy >>> next, i want to lump boeing and general electric together. this pandemic has wrecked the aerospace industry and the 737-max debacle sure didn't help we have no idea when the faa will let the max fly again southwest air said they don't expect any good news on this front until the end of october but the real problem is nobody is flying right now. demand so the airlines are stretched thin and lots of them are cancelling their orders boeing and ge need this virus to be contained remdesivir makes that a real possibility because it starts the process of removing the huge and justifiable fear factor. why did boeing manage the rally if ge didn't go? i believe because the c.e.o. david calhoun came on "squawk on the street" this morning he's going to get a loan backstop by the fed, low rate, not sell equity in the treasury department it wouldn't surprise me if they augment that southwest air did successfully this mo

starbucks expected second quarter earnings to be down nearly 50% since the lockdowns limited operations the company withdrew profit guidance corporate earnings are projected to decline in all four quarters of 2020 according to a refinitiv forecast the fourth quarter the last period to see the results. for the year earnings are seen dipping by 7.7%. >>> the impact of the virus outbreak is expected to be a key topic when the u.s. banks report their earnings next week jpmorgan chase and wells fargo release their results on tuesday followed by bank of america, citi and goldman on wednesday. >>> the fed releases minutes from the emergency meeting where it slashed rates to nearly zero. what did it say and how did it affect the markets we'll take a look. i know that every single time that i suit up, there is a chance that that's the last time. 300 miles an hour, thats where i feel normal. i might be crazy but i'm not stupid. having an annuity tells me that i'm protected. during turbulent times, consider protected lifetime income from an annuity as part of your retirement plan. this can help yo

the end with starbucks. at least six months of pain, and despite the stark outlook, starbucks as the headwinds are temporary. they can be readers -- they can be reversed over the next two quarters. there is evidence that business in china will fully recover. global news 24 hours a day, on air and at quicktake by bloomberg, powered by more than 2700 journalists and analysts in i'm than 120 countries, viviana hurtado. this is bloomberg. nejra? nejra: thank you so much. let's get the latest on oil. crude is extending gains as they world's top producers appear to be moving closer to a deal to slash output. russia is signaling it is ready to make cuts as a producer nation faced up to unprecedented slump and demand. joining us now is jason gammel. great to have you with us on the show. is the oil market getting ahead of itself, rallying ahead of the opec-plus meeting? jason: i think it is, nejra, and is biggest indicator tha significantly higher than the daily risk. the differential right now is over $15 a barrel.