Clients. Got to hear mohammed, one of the smartest in the business. What if there were a tool, work with me here, that identified where in the air around your town coronavirus might be hovering . Drone Company Dragon fly says its drones can now just do that. The ceo is here on how they work, but also on the privacy controversy now swirling around his wildlooking aircraft right there on the screen. In this work from home world, theres a real lifeline between millions of employees, their coworkers and their clients, the ceo of slack is here on what happens to his companys dominance as the world reopens. An important question here. Breaking at this hour, protest against governor newsoms beach closures are heating up in california. We have helicopter video in. We will take you there. Plus which stocks Warren Buffett might refuse to discuss during his annual meeting tomorrow and why that should matter to you the investor even if you dont own shares. Plus charlie breaks it on round two of the ppp rescue funds. They are about to run dry any moment now. Were less than an hour to the closing bell on this friday. Lets start the the claman countdown. Liz breaking news out of the white houses first formal press briefing in more than a year. White House Press Secretary addressed comments by President Trump where he had threatened to impose in the last 24 hours new tariffs on china, suggesting china may have been responsible for the creation of covid19. She says she would not get ahead of the president by making any kind of official announcement on tariffs, but the president did kind of muse about this and threaten it. She also announced that the administration would be sending 12 billion dollars to the 395 hospitals that have been hardest hit by the coronavirus. That will definitely be welcome money. The construction giant pulled the rip cord on its dividend. It says that the 40 cent per share annualized payout will stop because of weak Commodity Prices and of course economic disruption thats been caused by the coronavirus. The stock is down 13 1 2 , real punishment there. Casino operators are landing on red after april gross gaming revenue plunged more than an expected 97 in the gambling mecca of macau, one of the worst months on record for the worlds biggest gambling hub. All casino stocks down but mgm is getting hit the hardest down 10 1 2 . Wynn follows down 5 . You guys knew that it was tough to be in apparel stocks these days. Now, heres an indication too, even after bank of america reiterated its buy rating on columbia sportswear, shares are falling 7 3 4 percent on a First Quarter earnings miss, but bank of america insists the companys innovation and pricing will keep it going even as consumers pull back on spending. Plus you know, we didnt have a single day of snow on the east coast from december till may. That didnt help with the outer wear. If you are wondering whats so fiercefully dragging the entire nasdaq down, you could look at amazon and apple. Earnings in the rearview mirror, came out yesterday. Both of the companies in case you didnt hear have indicated that their futures look kind of murky at this point. Apple ceo tim cook passed on putting out guidance for the Current Quarter saying you know what . Not only cant we see till june, we cant even see beyond the windshield right now, so we dont want to give an indication that we somehow have xray vision. As for amazon, it warned it might post its first loss in the Current Quarter, first one in five years. Amazon Ceo Jeff Bezos is facing a little bit of heat at this hour. Lawyer makers on the lawmakers on the House Judiciary Committee are asking bezos to testify on the companys private label practices after the wall street journal did an investigation and reported that amazon employees used data about the independent sellers on the site to then develop competing products under the amazon label. Okay. Dow jones industrials check it here, down 607 point ts right now. April was just a month for stocks. Markets rebounded sharply from the official market bottom recent market bottom which hit on march 23rd. So you look at this. The yellow line is the nasdaq. The s p is the blue line. Both look absolutely incredible for this month, but after such an amazing april, you know, we know some of you are asking, would it kind of make sense for investors to watch todays selloff and then hold your fire while we all wait to see what happens as states begin to loosen all their stay at home orders . Im bringing in one of wall streets finest. He is the most closely followed economist. The chief economic advisor, happy friday, mohammed. We know a torrent of data will come out revealing whats in the rearview mirror, how bad the virus hit the economy, but how are you advising investors, and is it sort of sell in may or stay in this game right now . So what i tell myself, let alone other people, with my own money is how to best retain the claim on the upside, while protecting against the down side. Thats the key issue. Just like you said about apple, amazon saying that anything beyond the windshield is uncertain, thats certainly true for the market as a whole. My preference is to pick on the attributes that allow you to navigate the journey and benefit from the destination. Very strong balance sheet, positive cash flow generation, and being on the sunny side of where the world is going to, and there are a number of companies, liz, that meet those criteria. Liz yeah, okay, thats what i want to know because all you could do is look at even just the hardestit sectors. Hardesthit sectors. Im thinking the cruise lines, certainly the airlines, even they have come up well off the floor. Are the pickings really slim at this point . Where do you see that opportunity as we show you look at norwegian cruise lines already up 44 since the march 23rd low there. Yeah, and part of april was lets go to the most beaten up sectors and buy them. And thats fine, if you believe that we are going to have a quick return. We dont know that. We are about to run an amazing natural experiment in this country. Youre going to have three sets of states, some ahead of the federal guidelines, some that are behind the federal guidelines and some that are in line with federal guidelines. Were going to have plenty of data in the next few weeks about the rate of infection, about consumer behavior, about corporate behavior, so were going to find out a lot. In the meantime liz yeah. So i think the deals are in names like still microsoft. Look at its earnings release. It told you we were not impacted by the coronavirus. Think of that. They were not impacted. Profits, cash generation, you know what . The world is coming to them as we navigate through this crisis. Were going to live much more in virtual space than we will in physical space. This is really a stock picker environment and you have to do your homework. Liz im looking at microsoft right now. You know, the 52week range was 190 all the way down to 119. Were at 175 right now. So its come back a long way. I do want to ask you a question about boeing and not specifically about that stock, but, you know, boeing was able to raise about 25 billion dollars in bonds, and in doing so, was able to dodge having to ask for a government bailout. Then you also hear, you know, weve got carnival corp. They did not get a bailout. The ceo was on yesterday, but they also were able to raise billions in debt. Are bonds the new bailout for Corporate America . How do you view them . So the fed has opened the doors wide open, wide open, liz, to issuance by Investment Grade companies and also by high yield. We had over 30 billion issuance by high yield companies because investors believe that they have the backstop of the fed. The fed has gone a very long way in buying not just Investment Grade names, but in saying im ready to buy certain, certain high yield bonds, and that has given confidence to the market as a whole. Look, how you feel about this ultimately depends on where the economy comes out. If we end up coming out quickly, then this is a good thing. You have stopped liquidity problems from becoming solvency problems. If, however, it takes us a long time to restore normal operations, whatever that looks like, were going to come out with a lot more debt and a lot less market the marketability will be a lot less to differentiate between good and bad. Thats not a good thing for capitalism. Liz i have heard from a lot of our viewers, and theyre worried about unintended consequences of the fed sort of extending beyond the margins of what their actual mandate is supposed to be, and theyre buying just below Investment Grade bonds of companies that maybe struggled post covid but were doing fine beforehand. Do you see unintended consequences that we need to worry about beyond just look at the debt clock, it looks horrific . I worry a lot. Already, already and were hardly into this response. People are raising questions about wall street versus main street. Markets have done so well. Main street is suffering. Is the fed corrupted by wall street . Thats the first set. Second we are seeing companies who shouldnt be issuing debt issuing debt. Why not . The fed has opened a huge door for you to do so, so, yes, i worry about these consequences. Now others will say that you cant help it. Theres no perfect response. By i think that we should but i think we should be more selective when we go to the credit side. When we go to the marketing functioning side, they should be all in. On the credit side, they should be a little bit more careful. Liz got ya. Mohammed, try and relax this weekend. Youve been working 24 7, like a lot of us, watching this story unfold. See you next week. Thank you very much for joining us. Thank you. Liz a pandemic beach boom boosting profits. Closing bell ringing in 49 minutes. The dow is still down 594 points, off its lows. Clorox cleaning up on disinfectant demand, posting its biggest rise in Quarterly Sales in a decade. It is claiming segments clorox bleach, wipes, saw sales growth of 32 . Clorox also confident enough to raise its 2020 forecast. Not something a lot of other companies can do these days. The stock responding in kind, up about 4 . But how about wiping out germs via drone . Next weve got the company taking on covid, but controversy is already swirling, causing one city to ground these futuristic aircraft before they even let them into their skies. The ceo of dragon fly answers the critics when the claman countdown comes right back. How do they work . Stay tuned. I love audible because its a lot of stress relief, its a great escape. So many Great Stories from amazing people. It makes me want to be better. It changes your perspective. It makes you a different person. See what listening to audible can do for you. Many of lifes moments in thare being put on hold. Are staying at home, music at carvana, we understand that, for some, getting a car just cant wait. To help, were giving our customers up to 90 days to make their first payment. Shop online from the comfort of your couch, and get your car with touchless delivery to keep you safe. And for even Greater Peace of mind, all carvana cars come with a sevenday return policy. So, if you need to keep moving, were here for you. At carvana the safer way to buy a car. Liz businesses left, right and above are going touchless amid the coronavirus. You dont want to get the germs. Well an Automotive Company in china is taking to delivering keys to customers brand new cars they bought from the company, taking them and delivering the keys via drone as part of a contactless handoff of its autos to these customers. But take a look at dragon fly. This is a Drone Company that says its aircraft can actually detect coughs and sneezes in crowds, even fevers, and the heart and respiratory rates. Westport Connecticut Police were ready to unveil it but had to scrap it before they even tried it out because of a concern from privacy advocates. Yes, they did not like that at all. We thought lets get this company in here. We want to hear about this. Dragon flys ceo is joining us live from california. First of all, your drones as i understand it were originally developed for rescue missions and things like that. Tell us how they work right now and how you anticipate they would work in detecting coughs and sneezes. Yeah, sounds great, thanks for having me today. Dragon fly, were a public company. Were the oldest commercial drone manufacturer in the world. We have a history of Public Safety. In fact, dragon fly had the first drone credited with saving a human life using a thermal camera in rescue operation. That drone sits in a smithsonian today. We have a history of working in public service, Public Safety and search and rescue. This technology was originally developed to be able to put cameras on helicopters and fly over Disaster Relief zones to assess the vital science of survivors and be able to give efficient triage, put boots on the ground, understand understand how to resource property and save lives. Thats what this technology is used for. In fact, the technology then migrated to be able to be used for doing the vital sign detection in migrating herds or populations of animals that may be in danger because of wildfires or drought. The university of australia yeah, it is Amazing Technology built for the right reason. The university of South Australia brought their first drone from dragon fly in 99. We have a long relationship with them and a trusted relationship. As what were looking to do is take this Incredible Technology and apply it to the pandemic scenario where we can get population measurement and determine if the curve is flattening and determine if theres an opportunity to reopen the economy. Liz listen, great intentions for sure. Before i get to the privacy issue, our show, the claman countdown actually airs in australia. Good on the university of South Australia. But i want to know you got approval from the faa to fly over people . I mean, isnt there that 107. 39 flights over waiver, did you have to get a waiver to be able do this and try it out . Oh, yeah, for sure. Everything thats done has to fit within all the appropriate regulations, and so any flights adhered to 107 and anything else that needs to be done by the appropriate pilots. Liz yeah. Okay. Now i want to ask you about the controversy. The police in westport were ready to put this out there, put it over the town and it was grounded before it even happened. We understand they are worried that suddenly you would be pinpointed because you have a fever, maybe it has nothing to do with the coronavirus. Can you assure people in other cities that are actually interested in using your technology that it would be very private and that its just i guess meta data . Yeah, i think it is important to understand that the technology cant profile somebody. It cant identify somebody. What it does is it provides a population sample. For example, you can take it down. You can fly it over a beach, and there might be 44 people there. You can measure all the social distancing, the percentage and time that social distancing has been happening, if masks have been worn, if they havent been worn. It doesnt do in fact, it cant do facial recognition. It can measure heart rate, respiratory rate, o 2 saturation, body temperatures, all that combined provides a picture of population health. The video feed on the health data first of all, it doesnt recognize people. Its not tied to a database that would, but the data goes back to our officials now who can now start to piece together information based on real world data to say hey, you know, our social distancing is working. And theres only. 2 theres only likelihood of. 2 infections at this time right now. But next weekend as you might be flying or you might notice a spike of 3 but you also might be noticing the social distancing or mask wearing or whatever the case is is dropping so now you can implement some Public Awareness campaigns or take some proactive action. The real challenge i think the Public Officials may have is that they dont have data to make decisions with. Liz i understand. I understand. Weve got to run, but next city that youre going to try and roll this out in . Yeah, theres dozens of pilots that are in the works right now, and we had the unfortunate scenario in westport, but its actually spurned interest throughout the rest of the country. Liz wed like to follow this story, cameron. If you would let us do, that i would appreciate it because i think dragon fly is something thats going to be in the news. Cameron of dragon fly. Thank you very much. Liz the viral meeting takeover, with the closing bell my pleasure 38 minutes away. And the Dow Jones Industrials is down 539 points after a great april. Microsoft virtual collaboration platform announced during yesterdays Earnings Call that it logged more than 200 million meeting participants in a single day in april. Despite that huge bump and a price target hike from raymond james, microsoft cant really find liftoff here. It is down about 1. 8 . Teams rival slack also finding huge success during this work from Home Movement. What happens when we begin to return to the office . Slack ceo and cofounder Stewart Butterfield joins us next on how this company will fare post covid. Hes next. Dont go away. Liz breaking news, we have just gotten this video in from Huntington Beach where protesters are making their voices heard in california. They are lashing out against governor newsoms order to temporarily close all Orange County beaches and state parks, after noticing and witnessing the crowds did not practice social distancing last weekend. Two california cities threatening legal action against the governor at this hour, arguing that the decision should be made by local leaders. Not a lot of social distan