Opec supply forecast coming in for next year. What we will hear from chipotle ceo on the companys food safety debacle. They like what they are saying so far. We will give you the latest developments on that potential likely deal between dow and dupont. Could create a combined company certainly worth 130 billion in the marketplace before it splits it all up. The Worlds Largest retailer getting into the mobile payment race with walmarts new plan for consumers and the competition. Stocks looking to snap a threesession losing streak in which the 200point gain was essentially wiped out. Weekly jobless companies go to a high. Debt reduction and the stocks still down about 70 year to date. Both glencore and ben chevron making comments about the export. Glencore is a survival issue. They throw a good face. Constantly saying, we have much better cash flow than you think. They may have it. They are very good traders. I put them in a different category than freeport. Three times eye charm. Oil, you have to understand when you see this chevron budget cut. These guys dont think like us. They have projects on the board for 2025. They are not going to scrap 2025. They dont know, as brown said the other day on another one when bloomberg was interviewed by the former ceo. We dont know where it is going to be. We cant decide that we are going to base our budget on where it is. You think, why dont they just ratchet back down 50 . Because they have things they want in 2030. They have to figure them now. On that point, wti did, excuse me, reverse this morpg. It is now below 37 again. We should point out. So opec comes out and says, we actually believe nonmember supply is going to drop more next year. Arguably, their strategy on preserving share, working. Oil is not responding to that. This is not true. There have been remarkable things done in the last six, seven months about technology and getting the cost down. An outlier in col ol still worthwhile. Eagle, fabulous, 45, working for these guys. They wont stop. Additional barrels we have had in the last few years. The sunnis may say what they want. It is not us. At 45, it works. At 45 shl, it works. Listen, your are at 37. Most of the companies are using 45. They dont know. They are not planning to cut back the way you would think they would. Whats the danger . They need the cash flow. They cant stop. They bring down the cost. They bring down the cost. We are the marginal user. We are still doing it. Natural gas, by the way, accelerating production. They are accelerating production because of this under dollar. These are guys that do not think like we do. This he are not watching our show. They are trying to figure out how to get oil out of the gulf of mexico, which they will get for 15 a barrel if they spend a fortune now. They are also watching their balance sheet. We are in a period where debt becomes more important where we talk about lefverage ratios and the ability to pay interest. That becomes more important not as much as for the big guys but the medium and smaller guys. Even for glencore. Earlier, the ceo of the company said, we are going to make 2. 7 to 3. 7 in annual profit from trading no matter what commodities are doing. That was his quote. Now, not so much. They will still make a lot of money but not as much. It becomes more important because of the debt they have on their balance sheet. Copper is very different from oil. Whats their leverage rate. You range industries now and people start looking at kmi, of course, and the pipeline. Whats the debt load . What happens if ebitda goes down . It ended up to be terrific, 5 yield. They suspend the dividend. The reason they had some adjustments again. They are selling at the market. They are selling a ton of stock, 1. 5 billion. Another 400 million they are selling at the market. Those of you that think carl icahn bought a 10. Freeport is selling stock every day, because they have to meet the credit demands. Copper is what you use when you build major infrastructure. You want to look at the china numbers and brazil numbers. They are not building major infrastructure. Thats what copper is used for. I have found five new uses of copper. Aluminum, there are more uses. It doesnt matter. It goes into a carrier air conditioner at a new condo. Carrier has a full day meeting. They these guys have to decide whether they want to meet demand for otis elevators in 2018 and join them. It is not as easy as we make it sound. You think that dow decides, this quarter with ag. No, they are saying basf is not stopping. The chinese arent stopping. We have to combine. The world is not looking like we thought. They are thinking 2022. Chipotles ceo speaking out about the food safety issues surrounding his company. He apologized to those who have fallin ill from eating there and defended his companys approach to food quality and pledged safety for those that choose to dine at a chipotle. If you look at the quality of our ingredients over time, we have made great strides, meats with out antibiotics, more organics an local and sustainably raised foods. This was a very unfortunate incident. I am deeply sorry this happened. The procedures we are putting in place are so above industry norms that we are going to be the safest place to eat. The safest place to eat. Can they do that, maintain their commitment to certain supply chain issues and grow at the same time . It is interesting to see steve ells out there. Steve ells doesnt do tv. I think they made a very good case that they are going to be the cleanest and safest. Been there a couple times since then. Ive eaton chipotle too. Would you go eat there for lunch today . Yes, i would. I think it is very interesting that jack, jack in the box had a meeting yesterday. They have had no pickup from chipotle, nuone, none. We have a qudoba close to our th ch chipotle. News coming out of aig, the department yur of a number of Senior Executives at the company. If you recall aij in a battle with carl and john paulson. They want the company to consider breaking into three parts. For their part, they dont believe that would result to any benefit to Share Holders or financial benefit. Four of the 15 most Senior Executives departing. That is a continued effort to real line duties and to cut costs. They are under the pressure from mr. Ic icahn and mr. Paulson. Maybe you dont do it through spins but do it through divestures. Move ahead with the three ds. They have strongly come back and said, it is not going to help. It wouldnt help. I am not quite sure what im reading here whats going on. You dont wake up one day and find out that the top management. The new executive Leadership Team designed to execute the Strategic Priorities and provide value. Your new Management Structure will assure they have strong end to end capability within the segments to transform in a more efficient organization. That is a direct quote from ceo, peter hancock. So they bid ado to a number of Senior Executives. I think that battle is far from over at this point when it comes to mr. Icahn and mr. Paulson. To update people on another enormous company, a Bigger Company in the making. Come to the final points if you will in terms of getting an agreement between the two for a merger of equals that would bring them together in a historic deal. It would have been announced today. Oftentimes, deals this large can take a little longer to get to the finish line. Nothing seems to be offtrack. They seem to be simply saying, probably tomorrow. Important for people to understand, when we talk about the split into three separate companies, this is going to take a while. The deal, itself, when they announce it, is going to take as long as a year to get approved. Nothing is saying it wont get a tough look from the antitrust regulators. Then, you are going to embark on spins of the parts that we have talked about, specialty products, materials and then ag. That could take 18 months. You are looking at 2 1 2 years between now and when you see three separate companies. I so wanted them to get ahead. They wont go there. They said, 2018. Most likely, this wont get done until the sec half of 16. You are looking at most likely 2018. A look at how badly they wanted this, liveris got the call. I have known andrew for a long time. A man of his word. We talked yesterday about how he tried knocking on his door and didnt get anywhere. I betcha they are low balling it. Say again. They are underpromising in taking over. You do . I really do. The synergy number will be very important. The three companies. You want to be in the ma jurority. 14 billion in value was created. The only thing that was good yesterday. When we come back this morning, walmart jumping into the world of mobile payments. Well fill you in on what that means for the worlds biggest retailer. B of a just had their stress test approved by the fed. Well talk about what bob peck thinks about a sale in the First Six Months of next year. A lot more squawk on the street from post 9 in a minute. Walmart is moving into the mobile payment world. The Worlds Largest retailer announcing the launch of walmart pay available on the Walmart Mobile app to make shopping faster and easier. They will start rolling it out in select stores. Nationwide launch dubee the first half of 2016. Retail giant says 22 million customers actively use the app each month thinking back to we had Doug Mcmillon on the show in february. We asked him, are you going to commit to apple pay . We wouldnt commit and now we know why. They are probably going to go to an open system. Doug is really trying to do everything he can to get the company much more millennial, so to speak. Howard schultz has his system, which has been very successful, the best in terms of the way it works. In the end, you are all going to find that this is keverybody h has to do it. Starbucks has the most important and valuable app. You need an ecosystem. It is good move by walmart. I continue to believe maybe it is wishful thinking. I continue to believe that doug is going to pull it off. I wish he would spend lesson the buy back and more on making it so you can beat amazon. They have the ability and family to support them. This is what they have to do. Thats a longterm turn. You are not going to sit here and go, he pulls it off next week or next month. It is going to be a while. By the way, i Say Something and i dont mean it in the wrong way. He is a nice guy. I mean it in a good way. I think he is trying. I think this is important and it shows me they have a lot of people go there. I have my walmart app and they are Getting Better. Ill go there this weekend and see it. You will . You will go to walmart this weekend . Where . Where is the walmart . What do you do, wonder the aisles . You just go and see all the merchandise and just shop there. This is not kmart. I have bought outdoor stuff at walmart and boots and jeans there. Is there something you need . Is there something i can get you . No. This is what you do. You go shop. Im an american. I know it hasnt come up yet. You buy some trex arms and wear them around all day. When lee staub was running walmart, i made some comments about how i didnt like the emergency room feel to it. I didnt like that hospital feel. He said, go to some. He started changing some and i started liking them. Lowes and home depot keep Getting Better and better. Amazon keeps Getting Better. Home depot is so good. When the gardening season comes, i drop by walmarts to see what they have. Home depot, they put in some motion and i feel bad for doug. The other guys are relentless. Everybody isabel belichick in t business. We will get cramers mad dash and count down to the opening bell and talk about what home depot said about their changing. A lot more squawk on the street from the nyc after the break. Who do you work for . Your boss . Yourself . Your family . Our Financial Advisors are free to realize a plan to fit your familys unique needs. Well listen. Well talk. Well plan. Baird. Its a mad dash. We have been so busy. We have about six minutes. I dont know what we are doing. We are going to talk about piper raising their price for trip adviser. Im using it as a segue to get into what happened yesterday when we had yahoo . They could have bought trip adviser, Hotel Tonight and become a competitor of price line and expedia, which are fabulous stocks. This company, it would cost them a lot of money. We are hoping they say, we have a vertical coming up. Whether it be the sports vertical. It could have been concur. This is what you do if youre an aggressive company. Expedia understood it. They interviewed the ceo not long ago. Werent you impressed . Yes. They are doing a solid job. The key has been the ability to immediately book while you are on trip adviser as opposed to having to go to the separate place. If yahoo were to come on and say, we are going to blow you away with a new vertical, the menu and how people get food and have it delivered to you, they never showed you that level of creativity, david. Thats what i think in the end, they needed somebody here. Thats it. Get in there. He said the company is for sale. Thats what it was. Were going to talk more about yahoo when we get the opening bell. More squawk on the street after this. When a moment spontaneously turns romantic, why pause to take a pill . 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Contact your health plan for the latest information. You are watching cnbc squawk on the street. 36. 52 is the low they have set this morning. February, a lower price. 34. 59. The amount being pumped right now is extraordinary. The amount thats in tankers is extraordinary. The demand is not going up. There is the opening bell. Members from u. S. Customs and border protection. And nasdaq, atlassian, business and Collaboration Development celebrating. A bunch of names from last night. Menswear house. And joseph f. Banks, a disaster. Hasnt gone right since. Steven, with a pretty good note about it. This is a bad acquisition. They shrunk the buy. There is an impairment charge related to the banks. You cant bottom fish. Meanwhile, chipotle is up 4 . You think what they said on today worked. They needed to make a statement. They made a statement. They were very forthcoming. By the way, they have not been hiding. There are some people that feel like they have been hiding, in between when the Boston College story broke. They were already out there saying, please, lets find out whether it was ecoli. They have not hit it. They do have an ethos. You tweeted. They have an ethos that says, basically, fresh food. It was in their annual report. We may be at higher risk, because we dont freeze food wait a lot of other food chains do. I think people are bouncing a shortterm concern of ecoli. My daughter had the poisoning, it is terrible. Versus longterm, do you want to have a series of illnesses . A millennial says, im not going to taco bell no matter what. It has to do with shortterm, versus longterm. Im glad you brought up yums investor day meeting today. They did come out and give us china cops. Kfc, falling 1 . Pizza hut down 9 . They did reiterate, same store sales in china. They also confirmed 2015 guidance. The year is pretty much over. 2016 guidance, they expect to grow. 10 at yum. In 2017, they are targeting on going growth of roughly 15 , jim. Thats out of yum. That starts at 9 45. A few minutes from now, they will start their presentations. November was not good. I dont know if you saw the car sales. 23. 7 for november. I was a little disappointed but i think the two companies will be something that wall street likes. I think that china would really start to come back at a level where you would want that chinese slipper. Chipotle is up big. On the today show, that was very smart. If i were them, pretty much guaranteed you are not going to be asked about guidance for the quarter. I was wondering if they didnt ask about same store reliability. What we wanted was Gross Margins and he comes up with stories about whether you get sick or not. Im going to talk to matt after the show and explain to him what really matters is the granularity of the labor costs versus the through put. He didnt hit through put at all. That lawyer, he doesnt know how to do an interview. He is narrow. Im wide. The most important interview i have ever seen for a Company Coming out there. We know we have a problem and here is what we are doing. I know we are going to make it safer than ever. They have a list of companies they think apple could or should buy in 2016. Did you see this . Gopro, box, adobe, and tesla. Is this being taken seriously . I would not buy box. Going gopro is ridiculous. They have a history of doing big deals. I asked apple to do my directv. They said, are you aware it is old technology. Att comes and buys them. Att is trying to do some interesting things with it, in terms of some seamless between your devices an your thing on the wall, your tv. I guess they still call it a tv. Thats an attractive list to get people talking. I know aaron levee comes on and he is the ceo of box. It is much more likely that ibm would buy them. They just came public and that is probably going to happen. Yahoo we focused a lot on it yesterday given the news of yesterday and the interview we did with the companys ceo and chairman. Stocks down again this morning. I would come back to this idea. Some of the coverage this morning, they may be for sale and a number of analysts coming out with reports this morning that sort of indicate their belief that a sale seem