us up closer and it's working out. i can't see how anybody would not be invested in that. you're one of my favorites, you are one of the best, thank you very much. as we leave you, i'm going to keep it going. cheryl. >> i didn't know that. [laughter] thank you very much. have a great weekend. nobody go to that yet, we got a lot coming up in the next hour right here on foxbusiness. let's look, "wall street" wrapping up a volatile week slightly higher. two week lending history, thanks to historically crude week in the oil pass. looking at the dow now, we are so we gained momentum in the last half hour or so. nasdaq up by 101, they were just talking about technology. that is nasdaq.

market gaining ground after the president signed the $484 billion tumulus bill into law, this provides billions in aid to small businesses, hospitals and a lot more small loans to start rolling out monday. he said he wants to help the oil and gas industry. one company is in the middle of the pandemic is biomed, this is the nation's biggest independent reducer of ventilators. we are going to talk exclusively the ceo of companies lifesaving equipment being used in the cova 19th battle. last night nfl draft, not without its usual fans, we both tell you how they are raising money to end the coronavirus pandemic. less than an hour to the closing bell, let's start the countdown. ♪

we begin with breaking news right now, once again, we are looking at the white house, live pictures there. the president mean at any moment with nasa officials. about their contribution to the fight against the coronavirus crisis, including a new ventilator designed from nasa. we will take you there when we get that in a few moments in the white house. meanwhile, a lot of things happening in the market today into the economy. work-study operator draft, looking at. now, big day for this company. a public debut under the dk energy from this debuted after they merged with blank check company diamond eagle, they began trading despite the lack of wide sporting events, trading higher by a little more than 9% right now. another start, jcpenney.

twenty-four cents right now, it's incredible. this is a sad story. the retail is going for bankruptcy of filing, this is after interest payments of bonds and jcpenney is in a lot of trouble and affects the retail sector in general as we talk about the network as you can see, 24 cents a share on jcpenney. let's look at dow and boeing, this stock is lower on a report that the return about 737 max may be delayed until late summer, early fall, it could be august. another report that they are planning to announce a cut to the production of the reminder. that report, boeing and 737 fax we will have to see what happe happens. stock is down more than 5% right now. moving on, let's talk about intel dragging down the dow,

they missed "wall street" expectations for the second quarter after the bath last night. was drawn for your forecast due to the coronavirus pandemic. it talked about the reporter, they just didn't give any comment at all. stock is down recorders of a percent right now. fifty-eight, 59th on intel and this is facebook, this is probably a smart move by the company, they are entering the video chat worse by announcing video calling features, messenger rooms are going to allow social media giant users to create group video calls about 250 people. zoom call, it is. stock is up two and a half% right now. this comes as their rival, zoom, hit a new high today. you can't go to that yet but i want you to look at zoom right now. it was higher earlier, it's down right now.

we are watching zoom, part of the story could be the facebook news again, more competition in the video chat space as everybody is at home as you probably are right now watching this show. a short while ago, president trump signed the payment protection program. healthcare enhancement act, there is a big ceremony in the oval office today, during his opening remarks, the president said he spoke with apple ceo tim cook who says he expects of v-shaped recovery, once the economy is back up and running. just this morning, economic council director, larry kudlow talked to bonnie and he said he thinks going to be you shape the recovery. very funny. that's the? how are we going to recover? all of that was before we got this blockbuster report, which came up this afternoon. it says to expect a sharp contraction for this quarter, q2

declined by about 12%, equivalent to a decline of annual rate of 40% for the quarter. this could have been worse, more negative predictions for the second quarter but 12%. let's bring in our traders, tim anderson from who you agree with? of v, a you, what you think? >> i will just get alphabet soup, it looks like a you are of the but i think it can be of the recovery, the four victory over coronavirus. as i hope for. i think it can be done, if you look at the chart looks like a v, we just need help in the resistance. they are signaling that's what it's going to be.

i haven't included the formation. it could turn out to be more of a long, drawnout movie that could look like a you if we get back news on the virus. the market seems to be looking at the stimulus package today, it's looking at the potential in the economy and i think it can be a v shape as long as we don't have any setbacks with the buyers. we slowly start reopening the economy, stocks are going to look ahead they will get excited about the great american comeback, which will come after this virus. >> we are in the middle of earning season, it's up for debate. we are trying to get guidance from companies from we didn't get anything from intel class type. technology companies coming up next week, everyone wants to know what these ceos are seeing, they are not giving us anything except to say we are cutting dividends. we have an uncertain environment, we've got a pop up warning, the news is not good and get the markets continue like today, to stay positive. you have to ask the question here, are we to positive?

is this wishful thinking on the part of market participants? phil: i think companies are doing the right thing by withdrawing their entire guidance for the remainder of this year because there's so much uncertainty as to how we come out of this that it's just a guessing game. she earlier question, we have had a v-shaped recovery in the stock market next line back about half of what the decline was from when we made new highs in february to the march 23] that we are stalling a little bit, trying to see if we can stabilize those gains we've already had. does that mean we will have of v-shaped recovery in the economy? i think for the first half of it, that makes sense but there will be ten challenges to get back much closer to where we were before any of that, any of

this took place. i think most investors are scrapping any economic projections or forecasts for this year as well as corporate earnings projections. there's too many uncertainties, too much of a guessing game. melissa: what did you make of the president's comments this afternoon about helping the oil and gas industry? phil: is a vital industry for this company, it creates a lot of high-paying jobs and i guarantee you, i know there's high-level talks going on right now to do exactly that. we can't let our energy industry get destroyed by the coronavirus, it vital for this country and it's vital for our national security. i think they're going to do something serious and you will hear about it soon. melissa: we hope so. thank you very much. great to have you, as always.

i want to look at the big board as we round out the week, we're probably going to have losses for the week but we are looking at numbers right now, up 200 on your screen right now. we are watching the dow for you, also this. johnson & johnson teaming up with narcan distributor, emergent biosolutions to manufacture j&j potential covid-19 vaccine. 135 million-dollar deals to use manufacturing plant, stock almost eight and a half%. j&j slightly lower, about a half a percent right now. coming up next, the number one supplier of ventilators. in the united states, biomed. ceo this year, we are going to ask him. he's breathing a sigh of relief that this product helping flatten the curve in this country. claimant countdown coming right back. ♪

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transfer your service in minutes, making moving with xfinity a breeze. visit xfinity.com/moving today. liz: breaking this hour, president trump meeting with nasa leadership at the white house after researchers at nasa developed a high-pressure ventilator for treating coronavirus patients, they developed it and just 37 days.

the icon school of medicine at mount sinai here in new york city is reportedly pleased with the results after the ventilator for the site successful wide variety of simulated positions. but nasa has a competition from our next guest, ceo of the largest this company provides respiratory service to patient struggling with various respiratory diseases, including chronic extractive pulmonary disease, copd. we want to welcome in ceo casey white. thank you for being here. i want to get your reaction to this nasa use that nasa automakers, everyone seems to try to produce ventilators, not sure it's the competition make were you but you do you worry ventilators, because they are

being made so quickly going to be as effective as your ventilators which have been around for years and years? casey: we are an independent distributor, we have multiple different manufacturers. i think it's fantastic that the country is inspiring nasa to build another ventilator. we need companies like ford motor and tesla to step up and build ventilator patients who are ultimately the winners in this. liz: if you're working with, obviously you're trying to get the distribution standpoint, you're trying to get ventilators to the hotspots, new york, louisiana, illinois, what are you hearing from the states right now? you feel the supply is at least adequate for now? are the cities or states telling you they are concerned will need for supply? casey: five to six weeks ago, we started with the hotspots, our estate is louisiana so we

focused on making sure louisiana had what they needed, we quickly transitioned to the state of new york who appeared to be in need. anybody needed them in a short period of time, if we have access, we distribute to them. with also been able to help through our clinicians out in the field, we have a network of respiratory therapists who know how to work these different types of ventilators. what we did is we went and created a youtube channel, found on w ww.biomet.com and we film short videos of educational resource for any hospital system in our state disturbing to, just to brush up on their skills. liz: want to ask you about, the group here i'm sure you know in new york, there was a troubling report that came out earlier today by the fact that most of the patients, the majority put on the ventilators did not survive.

is that normal in a regular environment? is a because of the coronavirus that these patients waited, they are not recovering not saying is all but 88%. one hospital group. can you give us some context on those numbers? casey: the early signs about the things we were hearing from the clinicians, debate early. that appeared to shift later on so we saw devices like sleep apnea devices such as a bypass machine that was being used before they got severe and after they got severe. so i'm not to say if what they were doing was right or wrong for everybody is in let's figure it out mode. that's kind of where we came in as a company, we knew how to work these different types of ventilators so folks are used to having one or two to deal with

and now they have eight to ten. liz: there was a interesting report released today, i talked to doctors around the world about the issue of ventilating these patients. at the beginning of the pandemic, they were quick to debate. now looking back, they're kind of trying, they are making more specific decisions in regard to each patient because they don't want to integrate, their finding is not as effective. can you respond to that. casey: these things are hard want to because we don't have any clinical trials to go off of. this is a pandemic that hit us very quickly. we were just trying to share information, gather information from china, which we knew was a challenge. we did the best we could do with respiratory therapists, it's hard to say, even right now if

that was something we should have done or shouldn't have done. liz: people are still sick out there, it's a question we have to ask. this pandemic continues with so many people still so sick. thank you very much for joining us. it's interesting and good luck to you and your clinicians as well in the field. casey: thanks for having me. liz: let's look at the big board right now, we've got a market that, going to call it the cp affect, where up to 12 right now. cp affect. we got a lot more coming up. football, bangles fanned cheering for selection of quarterback joe, the first pick in last night nfl draft and while the annual event went virtual, it was not without its usual booze from the commissioner. who set up the blue birds.

despite the coronavirus outbreak, also a good cause coming up on the claimant countdown. ♪

i will miss the interaction i had with our fans over these three days. tradition, one that i genuinely enjoy.

let's hear from you right now. come on, you can do better than that. come on, let's go. you could do better than that. keep it coming. even the virtual booze are good. liz: they kept it coming. the nfl draft kicking off virtually last night. it looked very different with everyone walking in from home but the dedicated fans can still take part in one of the most notable traditions of the draft, doing this commission appointed as part of a social media campaign to raise money for covid-19 relief efforts. under the # boo the commission. bush said they will tony 1 dollar for every video posted, up to $500,000 through tomorrow. the draft is still going. the partnership for beer ann coulter at anaheim bush, thank you for being here.

i guess we should go ahead, the cats out of the bag, but light and nfl partnered to make this fundraising campaign. where did the idea come from? >> like any idea within our organization, it's a team effort. we really saw the conversation on social media around the disappointment and the addition of the commissioner. what we were able to do is come up with a virtual way to boot the commission with # and we took some of the actual booze submitted and laid them over last night with the draft. we are able to help. liz: again, you are watching roger, he obviously played along with all of it and again, for good cause. where is the money going to go once the initial fundraising efforts are done?

>> the nfl draft is in a three day program they've been living with hundreds of athletes and celebrities they have a series of partners from the red cross or going to then use these resources to hopefully help reinvigorate the lives of some of the people impacted by covid-19. liz: how many videos have been posted? >> the number of videos, their stuff tracking, they are coming in every way day. we are over 40000 as of last night. it continues to build. we will run this campaign through saturday in hopes of reaching our goal of $500,000. liz: probably the high ratings last night cap as well. you are one of the biggest sponsors of the national football league. we know with reports, people have been at home and drinking a lot of liquor and i'm assuming a lot of beer but how are things right now?

your company is operating differently now. >> the covid-19 has taken a toll on a lot of industries, ours included. the only thing it's done is it's made us agile and nimble. we constantly have to pivot how our market changes, thoughts the fact that we no longer have bars and restaurants so what we are looking at now is e-commerce as a new channel and ramping up efforts and supply chains for people at grocery stores and convenience stores. liz: i've got to say, we needed some football, a little bit of levity in the middle of all this so thank you very much for the idea to you and your marketing team. it's all for good cause. thank you. look at the markets, we are hitting session highs and let's bring in lauren. >> nestlé having a sweet day, sales are popping 7.4%.

during the march quarter on high demand for human and pet brands. also rearranging annual fourth won this money. cruise lines dropping in for even longer, extending current cancellations through june 30 because of the coronavirus pandemic. the crews giant this hour, adding to nearly 81% loss since the start of the year. united airlines mandating flight attendants where facemasks on all flights starting today. the flight attendants start urging government officials to urge an order requiring all passengers where facemasks as well. united facing 11% drop for the week as we head into the close. coming up next, by artificial

intelligence might be the key to keeping the food supply chain going on lockdown during the covid-19 outbreak. that next on "the claman countdown". ♪

151, nations process forced to shut off. they said they are going to suspend operations at its illinois facility until further notice after a portion of at 1700 employees there tested positive for covid-19. that.joined the processing plant in waterloo iowa is the nations supply chain issues come into sharp focus. a company called jampacked works with countries across various sectors to protect spikes and demand and keep the supply chain smoothly running. crimes include both my joining

us now is the ceo, tiger. thank you for being here. i realize you don't work with the meat processing industry but i want to ask you because this is the nation's food supply, it is critical. it seems to be crumbling because of the virus. if you were advising the meat industry, how do you think you could help them? tiger: thank you again and meat processing producers, specifically, we look at a number of consumer goods, retail, grocery staple food manufacturing. the key here is the supply, manufacturers of life and how you protect demand? the key here is, how do you use ai to predict and our models,

they are wrong. that some of the work we do and a lot of our clients today really need that in order to be able to have a job because of demand spikes. liz: it changing every day with this pandemic as we are seeing. especially retail. i want to ask you about that because, how is the supply chain right now for retail, beverage, consumer products? are the supply chains stable right now? we do have to china factor in all of us, which seems to have been disrupted. tiger: it's been amazing to see the agility with which almost every company has reacted to the situation. they've changed to a number of them working from home, virtual, they've changed to demand radically different from before. i would say from individual consumers into a grocery store,

we are able to find what we need for living today. it's making sure the information is available for the company, transportation picks it up. i'm amazed at the way in which it's been working. liz: it's interesting because in all of this, let's talk about the healthcare space because right now, more than ever, we need ppe, ventilators, we need medical equipment supplies, drugs to treat these people who are so sick in our hospitals right now. how would you advise the medical space right now, in particular the device makers about making sure the supplies are getting to the hospitals in a timely manner? tiger: i start by saying we are dealing with the unknown here because we don't know specifically what's going to arise because we are learning how the virus spreads and how it

perpetuates within a particular community. the only thing to go about this is to run your models and continue, one of the problems we work with, we work with a number of them in electronic, during this pandemic, our team is proud of being associated with them in supporting the crisis management team in their decision-making team. there's no spikes in respirators or equipment coming up in the next 48 hours, make sure to divert the equipment there and after that, that's where it is. liz: you mentioned earlier the companies you work with and medtronic, before i let you go, i want to ask you, how are the companies going to operate differently when this pandemic is over? how is this changing business? obviously we can never go back

to business as usual. tiger: no, people use various streams, we think fundamentally change not just the way in business but many things in the world. i think the migration from the cloud, digital transformation which has been on a significant trend attorney, we think, people i think about journeys and 18 to 24 months. the second is data and insights, the desire to have insight is going to exponentially grow and virtualization, i think we are all learning how to operate virtually some of us are saying wow, this actually works. people are causing books the first order. liz: normally you have to get into her room and get the books.

thank you very much for being here. the supply chain now has become a focus for all of us because we need the things keeping our country going. thank you very much. tiger: thank you. liz: let's look at the here you go. look at this. we are the last trading day of the week. taking a look at the big board, we are pushing session highs again to 85 and upside ... taking higher and higher. get moving, 19 minutes to go. until the closing bell rings on this friday. we are watching the markets for your and a third major restaurant chain wide shake shack and shoe sushi, federal small business loans. they got a lot of slack about it. the ppp return line, that's for sarah plus charlie brexit on the claman countdown comes right back. ♪

work becoming a not so rare move, returning $20 million paycheck protection program long after angry lines including a petition with over 50000 signatures demanding money go to small businesses is intended to help. shake shack, sushi, both returned multibillion-dollar stimulus loans earlier this week after similar public cries. even when jewish and stephen minasian asking all public companies who received ppp funds return that money by may 7. but treasury tightening the rain

from charlie joins us to break down what the new roles mean for businesses large and small. businesses could pay high price. >> we do have news here coming in from our sources at the treasury department and this will give you an insight as to why he give back the money and why others may give back the money going forward. rhyming others, businesses may not really need the money, these are financial firms working on feed based business, it's not like or appreciate shop without foot traffic. small independent brokerage firm in less than 500 employees, your stop "making money". the markets are propped up by the fund, your stop "making money" in the market, these are the type of firms the treasury believes abused the system, including companies like chris, maybe even more because he

employs a lot of working ask people in essentially, the lights aren't on, there on of various hedge fund that could be part of this program. he's going to do from what we understand from our sources planning to do audits on various companies that applied for these firms, particularly audit of companies within categories that are deemed not acceptable for these funds, we're not talking about coffee shops, they want more honey going to the coffee shops, we are talking brokerage firms, hedge funds, any private equity firm, clearly a public company from clearly a company that has loopholes such as restaurant company or hospitality company, those are companies with more than 500 employees apply for funds. you can expect widespread

companies, they complied with the new applications particularly, which say this, if you don't need the money and you take it, your open to tremendous legal liability. going forward, he was the a lot more companies give back the money, when they do give back the money, the money can be reallocated to needy businesses and reallocated as soon as monday, when the new program is going to go out. the crisp money will be able to deploy to say a mechanic shop, a coffee shop. that money can be redeployed immediately and the hammer from my sources will be the notion of an audit and if you don't comp comply, likelihood is that the treasury department can hand the audit over to the justice department which may investigate you in fact never a fun process.

at the hammer, whether it works or not, i can't tell you. i didn't -- i've been reviewing statements on the internet from leaders of the brokerage industry, particularly independent financial advisors at the beginning, they were telling this number to apply for these loans, they are there, it's free money, it's forgivable, you don't have to pay back. the qualifications for them were fairly broad so if it is litigated, i can't tell you which way it goes but with the treasury saying this, we believe it's up to you to comply, if you don't comply, you can be audited, if you are audited and we find a problem that you don't need the money, we are handing it to the justice department and they can investigate you. liz: in response to your report, good. good and good.

i'm disgusted by what these companies are saying. without breaking news from the white house. charlie: i will say this, a lot of small businesses didn't get the money, hopefully this helps them get the money for second time around. >> hallelujah. i think very much. see you monday. we want to get to breaking news you are looking at the president just moments ago, he wrapped up his meeting with nasa officials, they unveiled a product that's been working, they've been working on it to fight covid-19, ventilators. thirty-seven days, we mentioned this earlier on in the show, wanted to show you the actual ventilators. one is called the vital and the other, and mucus that. nasa in the fight against the coronavirus. we are going to come back with breaking news on the market, there is anywhere. i just gave it away. contest highs, 244. we'll be right back.

♪

liz: i mentioned this as we were going to break, the dow hitting a session high of 310, just a few minutes under moments ago we were slipping but now are up to 36, we have about six minutes -- five minutes to go the dow is up to 40, s&p of 37 and change, nasdaq up 137 and change. here is your week, we are indeed lower for the week, the dow losing about 2% this week, s&p down one and a quarter percent and the nasdaq only down 2.4% for the week as of now and next week a lot of big technology earnings are coming out so that story could change. stay tuned. also we have today's countdown closer who says money knows no bad news, and make sense, it only seems were the best opportunities are and he can help you find all of them, let's bring in the host, hey todd.

>> hi, how are you. >> i like what you are saying that money knows no bad news, that's my worry that no matter what the news is, day today, the markets seem to slough it off and were not seeing 2000-point days anymore. are we done with a march 23 low, is it behind us? >> i don't know if it is behind us, i think it's a pretty good chance we may tested again but right now with all the cheap money and all the continued lower interest rates, there is no place else to go so money would continue to flow in the market and we know the statistically for 107 years the market has gone above 8% a year, that is where money goes so now money will come in and let's take about a real reason, it cannot get much worse than it is now or we can have some issues, we know there is no growth, no

jobs, but there is all the hope that we will do better going forward. i think that is keeping the markets afloat and so is the money. cheryl: we got this report 12%, 14% down for the second quarter, i guess it could've been worse, i have seen 20% loss in gdp for the quarter, 30% loss for the quarter for gdp, do you worry yourself about the projections at this point? >> i think it's probably not even a projection, i think it's reality but what were banking on is america and we will come back and be able to fight through, this is not because of a crisis like a financial crisis or somebody going broke, this is because of a virus pandemic and here we are, what you are seeing now is a hope in america that will be able to rebuild and get back to work and everything can be fine, if we don't in this logsdon, it will create a problem and will see some major punishment of the markets and as long as there is hope, the markets will hold on for now.

cheryl: that's interesting point, it seems that wall street is watching main street and with all the governors, few governors, we just heard from michigan today, they're trying to open up the economy and pieces as best as they can, will take georgia out of this to follow the federal guideline, that seems to be giving hope to wall street that the economy will maybe come back in the next couple of months, three months, third-quarter, fourth-quarter, what do you say. >> i agree with that, i think we'll see some growth and i think markets will get back to normal and we might see a little bit of pressure because i think there's a little bit of overvalued but at the end of the day as long as people can see a prospect of things that are going to change and i think we are starting to see that, the opening up certain parts of certain states, we can get back to business and start to generate income and get some of

the people off unemployment and take care the stimulus and everything flowing again and i think will continue to grow and get more help, if that does not happen and we have to shut down i think we could be on for a long ride. cheryl: you like oxen, president trump said he wants to help the oil and gas industry, that must be good news for your pick. >> it is good news. i have been in and out of it for years. 13, $14, was a 244% dividend, we know that will go down if the stock rises. i'm saying were not going out of the oil business and not given up on fossil fuel, this is a panic that you can see in the oil future market because of the formation showing $17 in june and $25 in july. to me it is a build on hope that we will get back to work and back to business. i think it's a good play, a little risk but a lot of potential reward. cheryl: five seconds, in siegel,

5g. >> we are already working from home a lot more, the floors in chicago will close, this is only the start and this will help close businesses. we are ready to roll from home and we need the technology. cheryl: everybody's ready to roll from home to make sure the wi-fi is working. thank you very much, that is it for me at "the claman countdown" over to connell and melissa. connell: some new relief from main street today with stocks climbing throughout the day and president trump signed a new relief bill $440 billion stimulus into law and that helped us to claude close it out on a high note. i am connell mcshane. melissa: hi melissa francis, this is "after the bell", the major average closing session highs, negative for the week snapping a two-week winning spree, fox business team coverage blake burman with the latest from the white house, lauren simonetti watching the markets and edward lawrence is in washington, let's kick it off with blake.