Facebook premarket, zooming after a big gain yesterday. Its Financial Report suggested some stability returning to the advertising market. Facebook getting 98 of its revenue from ads. This company is a truly global platform. Over 1. 7 billion daily users. Stocks up another 6 this morning after a gain yesterday. Look at microsoft. Big gain yesterday, modest gain this morning. Its close to its alltime high. It says the virus had little impact on its business. Up 1 , microsoft, this morning. Its true to say these trillion Dollar Tech Companies are again pulling in a big chunk of investors money. One more for you. Tesla. Yep, another big gain. Elon musk is furious at the california authorities for keeping his fremont plant closed. He calls them fascists. More on that in a moment. Look at tesla go, 854, up 54. Overall trn overall, its a down day. The dow is looking to be down 280 points. The s p down 33, and the nasdaq, despite the success of big tech companies, thats going to be down as well. We do have a Big Development in the opening up process for you. Governor newsom in california, hes closing down again. Hes shutting all California State Parks and beaches. Hes punishing everyone because of the few who broke the social distancing rules. Lets see what happens there. Varney company is about to begin. Thats the way they want it, thats great. They should not be compelled to leave their house but to say they cannot leave their house and they will be arrested if they do, this is fascist. This is not democratic. This is not freedom. Give people back their [ bleep ] freedom. Stuart you heard most of it there, apart from the bit that was beeped out. Musk calling the stayathome orders fascist on his call to investors. Susan, you were listening in. Ignore the obscenity, please. What else did he have to say . Susan there was more than just one obscenity on the call. You have to say this is probably one of the most interesting calls each and every earnings season. Yes, elon musk not hiding his frustration in a stayathome order and shelter at place order being extended until the end of may in california, and he goes on to say that this is a serious risk to us because we have only one car plant in the u. S. , in california, just outside san francisco, and he says forcibly imprisoning people in their homes goes against their constitutional rights. More expletives used as well and he says this goes against america and what this country is built for. The stock did see a rise because of a Third Straight quarterly profit. They delivered 88,400 cars in the First Quarter, though extending and delaying the deliveries of their semis until the year 2021 but 8 billion of cash on hand and if it wasnt for this forcible stay in place order, i think tesla is doing pretty well. Stuart the stock is certainly doing very well. If its three consecutive quarters of profit, that compares favorably to General Motors and ford. I would agree with you. Tesla is doing pretty well. Elon musk as well. Hes worth 40 billion. Mark tepper is with us, Strategic Wealth partners. Whats your comment on tesla, musk and this fight about opening up . So elon musk has always been volatile, very unpredictable. The guy is a Great Innovator but sometimes he needs a babysitter when it comes to leading a 150 billion company. While his fascist comments may have been a bit extreme, i cant say im mad at him. I actually made a comment on your show last week, stuart, i said in a capitalist economy, the government is just supposed to be an umpire, not a participant. When these governors shut the economy down, they injected themselves into the game as a player. They need to take themselves out of the game. Tesla is the ultimate momentum stock and the government is killing that. They produce roughly 70 of their vehicles right there in california. As for the stock, the stocks a tough nut to crack. Its a stock that clearly defies gravity. They can say theyre not paying rent and the thing goes up 20 the next day. Very very tough stock to figure out. Stuart we have been saying that for a long time. I havent figured them out yet. I think i have it completely wrong, actually. I have a few positives here which i think are helping the market. First, we had Gileads Remdesivir reportedly cuts the Recovery Time from the virus. The markets really love that. And heres what larry kudlow had to say about the economys recovery. It was on this program yesterday. Roll tape. I think the second half of this year is going to grow, big snapback, 17 , 20 . I think its important, though, for new policy measures that will create incentives to grow in the medium and longer term. Its going to play out for the next month or two whats already been legislated through four phases. Now id like to see a more incentiveminded approach that will get this economy roaring, it will come out of the chute in the second half and go right into 2021 with a very positive rebound. Stuart i mean, Larry Kudlows looking for 17 to 20 rebound by the end of this year. Thats for the economy. Thats really huge. Mark, are you on board with that . Are you on board with a very rapid recovery by the end of the year . Yes, i am. Snapping back is probably true but i think you need to look a little deeper at the math. Simple math tells us if you lose 50 you need 100 to get back to even. The snapback hes expecting is not going to get us back to whole. The stock market is recovering in a vshape. The economy is going to recover more like a nike swoosh. In order for us to get that economy back to whole, we really need a white swan to counteract the black swan we have already experienced which has been the virus, and the white swan is a vaccine, effective treatment or further antibody studies that might suggest a much lower mortality rate than the headline numbers. So President Trump, as far as the Vaccine Program goes, hes got this operation warp speed going on right now, where he would like to have 100 million doses ready of that vaccine by the end of the year which would expedite the process by about eight months. As far as treatment, remdesivir is definitely a good start. Its reducing Recovery Time by about 30 . As for the antibody tests, sample sizes may have been small but you look at stanford, usc, the state of new york, they have all shown that a much larger percentage of the population than has been reported has already had the virus which takes that headline mortality rate from that 5 to 7 range much, much lower. Stuart yeah. Thats important. One last quick question. Are you, like everybody else, buying big tech . I love big tech. So what you really have to focus on is which companies are going to be the leaders over the course of the next decade. The world is changing, its going to continue to change. Were not going to go back to doing business the way we did it a year ago. Were not going to continue to do it the way we are right now. Theres probably some sort of hybrid longterm solution and you want to be in those companies that are in that theme. So microsofts of the world, you know, facebook, google with digital advertising, those are all companies that i think in the long run are going to do very well. Stuart thanks, mark. Dont row miemind me. I sold microsoft at 159 and lived to regret it. Im sorry. You should have told me not to. We all make mistakes. Stuart that was a big one for me. Thank you, sir. Appreciate you being on. Thank you. Thank you. Stuart now, its a big day for earnings. Let me run through some of them. First of all, facebook. Any details on that, lauren . Lauren look at that, stuart. The stock is back above 200 for facebook. Their user engagement, phenomenal. Daily active users at 1. 73 billion, up 11 . They are engaged. Heres the problem. When you look at ad revenue, Small Businesses are responsible for 30 to 40 of ad revenue on facebook but you have to be in business to buy an ad. Thats the overhang for this company. However, facebook did say while ad sales were down sharply in march, in april, they were flat. So that is a sign of recovery and thats why the stock is up 6. 25 today. Stuart after a big gain yesterday as well. 206 on facebook. Susan, take me through microsoft. Susan im sorry, stu, we are just 4 away from record highs once again for the stock and another blowout quarter despite the coronavirus spread. It all comes down to cloud and azure, reporting a huge growth of 59 and taking market share away from Amazon Web Services and their cloud division. Beating on top and bottom lines and looks like they are guiding for still better than expected numbers for the next quarter but still at 7 growth, probably the slowest microsoft will be since 2017, but you know, other of these high, fastgrowing divisions are doing well including their answer to slack. They say that the teams communication app now has over 75 million daily active users. Thats almost up from half. I mean, they have grown 50 just in two months time because people are stuck at home. How else are they going to communicate . Stuart thats stunning and it confirms yet again that i sold too early. All right. Thank you, susan. Thank you very much. Now, show me astrazeneca because its up nearly 6 . Theres big news there. Its got to be good news. What is it, lauren . Lauren yeah. Its at a new high. They partnered with Oxford University so astrazeneca is going to manufacture and distribute a vaccine that oxford is working on. In europe last week, they started testing it in human trials. They know the approval process takes a long time but they want to be sure when they have something that can be approved, they can distribute it really fast. Thats what this partnership is about. Stock up 6 . Stuart fixing the virus in any way, shape or form, treatment or vaccine, youre on to something right there. Astrazeneca up 6 . Thanks, lauren. Check futures, please. We will be on the down side today despite some very good earnings news from some of the big tech companies. We are off 300 for the dow, 30 for the s p, 40 for the nasdaq. We are just getting started. Big show still ahead. Andrew napolitano, the judge. Tennessee senator Marsha Blackburn. Pete hegseth, Stephen Moore all on the show in the next three hours. And this. Explosive new documents in the Michael Flynn case which suggest the fbi was indeed trying to set him up right from the getgo. President trump is speaking out this morning. We will tell you what hes got to say about this. I mean, hes got some strong words about it. We will tell you what he had to say in just a moment. Look at blue apron. You know, the stock is down this morning. Youd think they done well in the lockdown . We will ask the ceo about that. Shes next. You wouldnt accept an incomplete job from anyone else. Why accept it from your allergy pills . Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief so were working 24 7 toected maintain a reliable network, to meet your growing internet needs. Were helping customers who are experiencing Financial Difficulties stay connected. Were increasing internet speeds for low income families in our internet essentials program. And delivering selfinstall kits to your door. Nos comprometemos a mantenerte conectado. Were committed to keeping you connected. For more information on how you can stay connected, visit xfinity. Com prepare. Were going to start exploring what is the right time for us to open and we will take feedback from the local communities, the cdc and then obviously, follow protocol. Stuart that was brian niccol yesterday, trying to figure out whens the right time to reopen his stores fully. Susan, anything more on this . Susan well, look, is it a surprise we saw a sharp slowdown in chipotles business in the past month . No, because we saw mcdonalds reporting this morning also seeing same store sales falling about 3. 5 , flat in the u. S. But look, delivery might be the answer so we know amazon has been teaming up with uber eats and chipotle has its own Digital Sales which has grown about 80 in the past quarter so this might be an opportunity for maybe mobile Digital Strategies but going in store probably not looking good for the next few months. Stuart got it. Thank you very much indeed. Next one is kellogg, cereal people, of course. Sales up roughly 3 from this time last year. The virus is helping them. The lockdown. You tend to eat breakfast at home when you are locked down and cereal is easy, isnt it. The stock is up by just 50 cents. 65. 40, your price. Kraft heinz earnings out earlier. Revenue up 6 First Quarter. Bolstered by people stocking up for the virus. The stock is up only 16 cents. But look at dunkin donuts. They reported sales down 2 . They still dont know how the virus will affect their business in the long run and they have suspended their dividend. Thats down 2. 5 . Blue apron, not a very rosy Earnings Report yesterday. Their quarterly loss quadrupled to more than 20 million. Their chief executive Linda Kozlowski joins us now. I would have thought the lockdown would help a company like blue apron. What went wrong . In fact, we have seen an uptick and thats why we guided towards year over year Revenue Growth in q2 as well as getting to both cash and ebita positive in the quarter as well. So i think the difference being something you would stock up on in advance versus Something Like a meal kit thats actually where you have a much more Immediate Response to need and a lot of the shelter in place order came at the end of q1 which is why its bolstering our revenue and cash for q2. Stuart my apologies. I didnt realize there was an uptick toward the very very end of the quarter. Is that why you are hiring . Absolutely. We have a big need in our Fulfillment Center to be able to employ people to help pack some of those boxes and get more food out to more people. We have state of the art facilities and so we have everything in place that we need for the uptick in volume. Its really just about hiring great people in those Fulfillment Centers in order to fulfill that volume. Stuart you got a lot of competition. You know, i think competition is actually a good thing at this time. We have been working very hard over the last several quarters to try to build out the product offerings, to make more variety, to add more choice, but the reality is at this time, people need food at home and people need resources to be able to cook for their families and cook together, so having meal kits in the industry is just a great way to help serve that need at this time. So we welcome the competition and we think this is still very new in the meal kit space, and so the Growth Opportunity even beyond coronavirus is actually quite robust. Stuart i hate to say this, but the longer the lockdown goes on, the better your chances of a real comeback. Im sure youre not rooting for a prolonged stayathome order, but its in your interest. Well, for us, you know, we obviously think this is a very tragic situation and of course, we dont want to see this drag on by any stretch of the imagination. We have already seen changes in the tw way that people are cooking at home and changes in behavior that indicate they will continue to cook at home more even as businesses start to open and things start to lift. Stuart sorry. Im sorry, linda [ speaking simultaneously ] stuart were talking over each other. I do apologize. What changes in behavior have you seen that led you to believe people will continue to cook a lot more at home . So feedback from customers has indicated that they have actually found quite a bit of solace in the ability to cook together and they raised their confidence level in being able to cook at home and do it much faster and easier than they had before. There is also some Third Party Research out there that indicates people are getting much more confident in kitchen and in countries that are ahead of us on this cycle and have actually started to open back up have seen the number of cooking at home continue to stay high even after things start to open again. Stuart Linda Kozlowski, thanks very much for joining us on the show this morning. Thats important stuff. Thank you very much. Next, take a look at amazon. Lauren, straighten me out. They are saying they are the victim of the president s personal vendetta . Lauren so amazon landed on a list of counterfeit websites. So websites, foreign websites used as havens to sell knockoff products. Example, nike doesnt do business with amazon because amazon has been known to list counterfeit products. So amazon landed on this list by the white house for their sites in the uk, germany, france, india and canada but amazons response is look, we are so proactive in policing our website and taking bad actors off that they think the reason theyre on this counterfeit list is because of the vendetta that President Trump has against amazons ceo jeff bezos. One final thing. Theres no penalty to be on this list, but it does harm your reputation. Stuart the stock is at 2416 per share, up nearly 2 this morning. Got it. Thanks. Futures indicate a down side move at the opening bell on wall street. That will be in seven minutes time. We will take you there to see the opening bell. And people you can rely on. Im a Dell Technologies advisor. Me too. Me too. Me too. And if youre a Small Business, were with you. We are with you. Were with you. We want to help. So well be right here. At home. Answering your calls. Providing support. And standing by you every step of the way. Bye bye. Stuart ive got something for you which the airlines do not want to see. Its a video of how quickly the virus could spread on a plane. Lauren, i think you have video f