your thoughts on baker hughes?> we did like baker hughes for the reasons of again looking to play north american oil services baker hughes is a big player in that space. we like the halliburton deal, the combination, bakers hughes has been an asset that is a good asset kind of average management, halliburton is also a management team the integration smoothly and the deal gets done. >> you don't own the stock. >> we don't currently. >> when did you sell? >> relatively recently. >> you think the deal gets done and like the halliburton way of playing the deal than both. >> what you got before was a big spread in there about 15%. getting paid to own the combination and play that spread with the deal we think is going to close the spread has naturally gotten tighter. >> doc, you got something. >> yeah. i was looking at refiners as a way to, for instance, when we had the deal or this negotiation going on with iran, all of a sudden you saw crude sell-off both brent and wti last week and refiners were being sold off harder

to halliburton who is trying to buy baker-hughes.asis on the 50-day moving average. halliburton one of those as well. another one, helmerich & payne. trading above levels that suggest a statistical pull back toward the average over the last 50 days. the last one is cimarex, an independent gas driller. a solid rise over the past few weeks or so it's now trading well above its 50-day moving average to levels that statistically suggest, the odds suggest it may be due for a shorter term pull back. some traders look at the odds and say, melissa, these stocks may be due for a bit of a pullback towards traditional or more average levels. back over to you. >> thank you, dom chu. if you didn't catch all of those, don't worry, head to powerlunch.cnbc.com. >>> all ten s&p sectors in the red. much more on friday's sell-off after this quick break. stay tuned. you can call me shallow... but, i have a wandering eye. i mean, come on. national gives me the control to choose any car in the aisle i want. i could choose you... or i could choose her if i

we know baker hughes says they will suspend effective immediately their quarterly publication of the u.s. onshore well count. that is not to be confused with the weekly rig count data that they put out or the monthly international rig count they put out. this baker hughes says is in response to the recent market downturn in the industry and internal initiatives to reduce costs. the company will instead divert resources to support the ongoing weekly north american and monthly international rig count data which continues on and will be reported again tomorrow. so, again, baker hughes eliminating one of its reports that maybe is not as widely followed in the popular business media so it can focus on getting all that rig count data out. important to note that. back over to you guys. >> thanks so much, dom chu. it's interesting the reasoning behind it. save money. >> it's going to save a lot of man power there. >> can you imagine what kind of company this is going to be now? >> leaner, meaner. >> you got to wait until they report on april 21st. you've got to wait and see what they say. i

i think you have to take profits, halliburton in particular. >> even if halliburton and baker hughes, you don't think that's going to be a good thing? >> it seems like people at least are trying to attack in that area. in terms of the options world, they're coming for the service names and the drillers but really the integrated names, exxon, conoco chevron. in terms of options, the expectations are building in many of these different energy spots. >> next up big news in the world of tesla. according to a new book elon musk almost sold tesla to ghoulingghouloogle for $11 million. apparently musk and page actually shook on a deal before negotiating specifics. guy? >> the company is worth three times -- at least three times that. making argument more than that. i still say stay long tesla. i still think it tested and held that 180 level. i think it blows through 225, but google to me sets up interesting. the move from january to early march, we basically made a 50% correction of that move to the upside. held 530 i think. i think this rally is into the release on april 23rd and i think y

. >>> and bill some of the job cuts came from houston based baker hughes. and the oil and gas services company acquired by halliburton cut 17% of the total work force during the first quarter and closed facilities and reports earnings below. it is a reflection of declining e misses and -- prices and expected a falling count on second quarter. the shares dropped nearly 1.5 point. >>> and so job cuts are some of the prices discussed by energy leaders at the annual must attend conference for the sector. brian sullivan has more on the gathering. it is called the ihs energy sarah week in houston. >>> houston, the oil capital of america but this week the oil capital of the group, thousands of executives are gathering here to try to understand not only what has happened with the price of oil and gas, but where the industry is going in the months ahead. this time at the conference last year the price of crude oil, $100 a barrel. i asked dan ergen how the mood of the conference has changed since then. >> a year ago the mood price was the oil price was $100 a barrel

baker hughes which halliburton agreed last year to buy, rising as well.elping out those energy stocks. we are seeing prices of cruelty oil at the highs of the year. brent also higher at an earlier decline, going along with the overall markets. michael cohen is the head of xhodsities research at barclays do you see a reason why oil was higher? anything from the -- taking it back up? >> there's a couple things fundamentally that's driving the market though saudi products is up implicitly that means their spare capacity cushion is less. i think that's the first thing, the market tends to get some jitters whenever saudi arabia is producing at very high levels. the second thing going on right now is we basically had some change in perception about the speed of u.s. oil products outlook. so the u.s. oil production outlook for now, at least for april and may, some expect that production will basically flatline. we think that it's still too early to believe we'll see that flatlining. rig count has come down but we have this large amount of waiting on complete of

we lost 42 rigs according to baker hughes last week. remember, guys this is our 18th straight weeking with a decline in rigs but as you can see there, the pace of decline had actually slowed down. 56, 41 12 11. now we're back to down 42 so the pace of decline has actually ramped back up is the point. no real reaction on oil. oil up about 1.5% right now to 51 and change. it did not move on this oil rig count, but still, guys we are seeing a drop in oil rigs. down 42 and what is interesting, tyler, perhaps is that the number of rigs in america has effectively been cut in half from just one year ago. down to 757. that is off from 760 one year ago. really cut right down the middle, tyler. >> production though, remains up or high, right, as you always point out? >> record high. this is the dichotomy, and here's why. people say well, how is this possible? those rigs are coming in. first off, a rig is for a future well. the number of wells is not being slowed down that much that we know of. these are future wells. to your point, current produc

baker hughes halliburton, i don't know. maybe, maybe not., ftc, still haven't heard anything. even others. >> there's a lot of antitrust. >> too big? no? i think that they got a little nervous, they blessed this and i think, kind of like they got a lot of heat for it. >> a lot to keep an eye on. >> they created a company called constellation brands by giving them madello. rob sands conservative, they gave low guidance. constellation -- >> if you bought the stock when they did the deal? >> yes. >> oh. >> one of the largest sellers of corona and modella in brooklyns. i have 140 tequilas. they bought a good tequila. smart acquisition. i thought they'd buy george clooney's. he's having too much fun. this is not done. those who sell here are going to wish they bought it back. this company, rob sands, cash machine. the growth here i thought this was an interesting extrapolation. klaus kleinfeld talking about 1% to 2% beer can growth offsetting soda 2% to 3% but not totally. put this together if constellation brands is going mid single digit, okay

they're in the midst of moving forward with their deal with baker hughes.ffs than schlumberger. melissa: thank you so much. furious 7 racing into the record books by making a billion dollars in seven days. how is that possible? that's according to the latest worldwide box office receipts. only 20 movies have made it past a billion dollars. topping that list is avatar. $3 billion across the world. john is planning to start his own hedge fund despite all of its previous troubles at mf global. he'll be using his own personal cash and funds from half a dozen investors. commodity brokerage that would bust into 2011, years for customers to get their money back. trying to get cozy in his new digs. john hinckley jr. the last man to shoot a president is living a normal life. he is staying in williamsburg home next to a golf course. he drives around freely. he plays the guitar. even eats out at wendy's. a court hearing may decide whether he can live there permanently. does that make sense to you? the -- the dow is up more than 200 points. a lot at stake. big week for

the baker hughes recount, this could be a terrible story when we get the oil and gas company earnings everybody go home. have a great weekend. not yet! great to see all of you, we have the closing bell five minute away. ge ceo bailing out of the banking business and shares of ge jumping to a six-year high! what does this say about the future for the banking industry? one industry expert will tell us, stay tuned. the pursuit of healthier. it begins from the second we're born. after all, healthier doesn't happen all by itself. it needs to be earned... every day... using wellness to keep away illness... and believing that a single life can be made better by millions of others. healthier takes somebody who can power modern health care... by connecting every single part of it. for as the world keeps on searching for healthier... we're here to make healthier happen. optum. healthier is here. and i'm here to tell hi,homeowners winkler that are sixty-two and older about a great way to live a better retirement... it's called a reverse mortgage. call right now to receive your free dvd and bookl

if you look at a halliburton or a baker hughes and you'll see they're up 17, 18% year to date and guys coming out of the service names. >>> tim made his way over to the smart board and watching the s&p 500. tim? >> going into earning season, a lot of people felt that the s&p had pressure and felt it had pressure for a couple reasons. all the things we talk about fundamentally and key levels. the 20, this is the 15 in gray and the 20 in yellow. but this is really what's been your resistance. it was your resistance until we broke through in mid-february on the rally that took the s&p up to the highs well past 2,100. now what was resistance all the way through is now support. what's interesting here. right here we have the 20 and the moving day and the 50 converging. a lot of people feel this is a very important pressure point for the s&p. that, in fact, we do break through. very little to catch you other than a 2040 level which is right around here and then all the way down to the $200 million which is around 2018. when i talk about the s&p right now. i have to talk about other global ma

that baker hughes which makes drilling equipment for oil and gas field will lay off 10,500 workers upm an earlier layoff 7,000 because of low oil prices impacting projects. heavy selling on friday on the stock market. positive start this morning but gains are weakening a little bit. let's check the big board and see how we're doing. the dow barely hanging on now. it was up about 60 points in the early going. now up only 6 points. nasdaq meanwhile is up by 18 and the s&p hanging on up by 2 points. frank and michelle, back to you. >> thank you, jason brooks from kcbs news. >>> 6:44. police in redwood city are looking into an attempted kidnapping. they say a woman was unloading her car on clinton street about 9:30 last night when a suspect tried to grab her. she yelled and fought off that suspect who then got away in a car driven by someone else. >>> stayed the santa clara city council will take up a controversial idea selling more land to the 49ers offering $15 million for a used soccer park to make room for parking at levi's stadium but opponents say that money won't be enough to buy n

>> bakers hughes, bhi, up 22% year to date.int, you're not exactly early but if you want to play the energy space, play here at shortstop. $65. keep it on a short leash. >> i'm melissa lee. see at 5:00. >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now. i'm cramer. welcome to "mad money." welcome back to san francisco. cnbc market. i am trying to make money. my money is to educate and teach. call me at

alix: we looked for the baker hughes number that tells us how many rigs are being cut, which could lead to further production cuts. what do you need to feel secure that production could be peaking out? >> we see is slipping to 300,000. what the concern is, and i think this is where it we get into a situation where if we get about the 275, do we have uncompleted well that come back on gecko i think that is what the original queasiness is, just when you think he turned the corner, at what point do you reinvent of eyes u.s. production gekko that is where no one is entirely comfortable getting bullish in the market right now. alix: when you look at the price range, what is it? what is the range when you have the wealth that could come online pretty much at a moments notice? >> that is what we are grappling with. we are in unknowing -- unknown territory. we have a view we should seek recovery. saudi arabia would love that number. what remains to be seen is the w shaved recovery. -- it recovery. the one thing the saudi's are saying is they raised into asia yesterday. they say we see demand pi

we had halliburton buying baker hughes. we saw whiting petroleum take itself off the chopping block. is this going to be 1998 again? ed: what does this mean for exxon? what does it mean for the other super majors? those were the first questions. i think it is probably too early to say if this is going to be the trigger for another round of major consolidations. some of these companies are now so big so it is difficult to see what deals can be done. the conditions are good, but that does not necessarily mean we will see it. brendan: is there a specific logic to a gas acquisition right now? ed: they definitely want to increase their exposure to gas. the logic for doing it now is this favorable market condition. now is the right moment to strike for a megadeal. it is a very full price they paid. 50% premium. it might be one of the biggest premiums outside of the pharmaceutical sectors. the market has reacted accordingly. brendan: part of what they get with this acquisition is the strikes in the salt pan off the coast of brazil

honeywell is considering bills for the --considering offers from halliburton's energy assets with baker hughesequity firms and hedge funds are offering lifelines with production companies as banks tighten their credit. joining me now is lydia who is a partner at local hedge fund firm, and lydia, think you for joining us. lydia: most people are waiting at this point, obviously, there has been some rather significant announcements such as shell and bp group acquisitions, but by and large, most larger assets have a fairly big spread between the bid and the ask primarily because the people who are interested in buying right now are really looking for bargains i mean, there is a whole lot of private equity and private rating on the sidelines, and in addition to private equity money, you have a larger oil and gas player out there who would be potentially looking for bargains. alix: lydia, give us a perspective on how much money in big oil is sitting on the sidelines right now? lydia: i think most people would estimate in the $80 million -- $80 billion range or 100 begin dollar range and if you look

baker hughes will publish data on oil rig joining the u.s..ast week in the smallest decline since december. jeffrey gundlach's double line capital cannot think of a worse time to buy bonds. a manager says the risk on return proposition is one of the most unattractive in memory. the bonds are yielding the worst ever. prices are more data to interest rate increases than at any time in the past 20 years. apple and sampson picked the same day -- samsung taken the same day to debut new devices. apple unveiled the smart phone watches. they may sell one million watches during the opening weekend. it is the first new apple product in five years. shoppers in 20 countries are checking out new samsung phones. the company has high hopes for the galaxy s6 and of the s6 edge . samsung hopes they will help recapture market share they have lost to apple and chinese brands. those are your headlines. still to come on "in the loop" in the next hour, how the.com bubble is nothing compared to the chinese bubble. -- tech bubble. it has been a tough year for califor

also baker hughes fifth third, harley davidson lockheed under armour. and yahoo! and chipotle.other big day for earnings. >> it's only like ten meters. but i know and we have heels and things alligator around the floor. >> it's a good workout. >> a great workout. you kind of have to walk around. listen dave einhorn is saying stocks are too high if earnings have peaked. in a letter to investors the head of the hedge fund green light capitolal says he's adding more shorts. it fell by 7% in the first quarter. einhorn notes that the impact of falling oil prices and the strong dollar that they're having on erngarnings but also says they're rising faster than output as they hire more people and hike pay. >> he has very harsh words for general electric. in his letter to investors he calls the company's decision to exit ge capital a victory for proponents of the dodd-frank law. it will drain 5 to 7% adding to the debate about ge's reported results. it added a position at general motors a year after selling it's stake. but they believe gm put the ignition switch recall beline it and wil

maybe weatherford will get a benefit from the fallout of the baker hughes and halliburton merger. >>er green today. >>> when we return, ipo fever in full swing. seven companies going public including etsy party city virtu financial just yesterday. will that trend continue? we'll talk about that. >> dow still down 251. s&p back to 2082. [announcer:] what if one stalk of broccoli could protect you from cancer? what if one push up could prevent heart disease? [man grunts] one wishful thinking, right? but there is one step you can take to help prevent another serious disease- pneumococcal pneumonia. one dose of the prevnar 13® vaccine can help protect you ... from pneumococcal pneumonia, an illness that can cause coughing, chest pain difficulty breathing and may even put you in the hospital. prevnar 13 ® is used in adults 50 and older to help prevent infections from 13 strains of the bacteria that cause pneumococcal pneumonia. you should not receive prevnar 13 ® if you've had a severe allergic reaction to the vaccine or its ingredients if you have a weakened immune system, you may have a

due to the holiday baker hughs rig counts are out. the headlines numbers, u.s. total counts down 20 to 1,028. among oil, rigs down 11 oil rigs minus 11 to 802, and gas rigs down 11 to 222, and miscellaneous up two to four. falling 11 rigs from last week, and canadian rigs down 20 to 100, and oil is moving lower on the session so far. both for brent and wti. more rigs offline, oil is extending some of the declines. over to you. >> thank you, though i do believe it's not the lows of the day for crude, which was down by 2.7%, but nonetheless, as you can see, we are sharply lower. john, i want to get back to something you said a moment ago about wage inflation. it's great minimum wages in chains like walmart, mcdonalds and tjx and target are raised. fantastic. more money in people's pocket meaning better consumer spending. what's it mean for corporate profit margins? this is why parts struggle to get higher. we're in the upper band historically, not necessarily a problem to take earnings higher and/or the multiple higher, but earnings are not higher, and six months,

on tuesday, noble energy warned of a 10% cut in jobs since oil's nose dive in the fall work at baker hughesst pain 9,000 cuts at schlumberger, and more cuts. >> followed through by big gains in today's session, and today's sessions on fire over the last two months tracking the action. the large cap chinese stocks up 20%. ewh, hong kong etf up 10%. with us is forbes columnist gordon chang and the editor of the report. great to have you with us. jim, start with you. this is about the chang high and hong kong connect and money flowing, isn't it? >> that's a part of it. i mean, there's three catalysts. one is the ability of mutual funds in mainland china to channel money into hong kong and arbitrage out the difference between share evaluations. second part of it is exceptionally low valuations for stocks relative to history, and more importantly, relative to other parts of the world, look at the hong kong average pes, we trades at 15% below the longer term average pes, despite the fact that shanghai's above average and everyone else is trading premium valuations. hong kong's a feeldeal. >> shan

oil drilling rig count from baker hughes has just come out. and according to that in the u.s., oil drilling rigs are down by 31 to 703. that's a slightly faster pace than we saw last week when they declined 26. just to put that in further perspective, we are now down by 831 u.s. oil rigs from a year ago, when the rig count stood at 1,534. checking oil prices neither one really moving on this news but continuing to see the drop this rig counts. back over to you. >> all right. let's get back now to stocks and keep the focus squarely on technology. we are joined now by a couple of really smart guys who maybe feel a little bit differently than the nasdaq. we've got nasdaq bull jimmy rio, he is managing director at tjm institutional services and jeff killberg taking more of the bear stance he's ceo of kkm financial. jim, i want to go back to stock picking versus indexing i think the nasdaq run on the stats that mandy gave are incredibly important. not everyone is going to pick the kind of winning stocks that we highlighted. but look at the gains in

also citrix warning it will fall short of efforts and baker hughes is suspending it's online publication. it will continue to watch it's weekly rig county. >> andrew coming up the dow and the s&p are -- you've never had any acting classes at all. >> no at this point someone once told me in fact it was the late great -- nina do you remember her? i read for her and she told me my emotional instrument was clogged. >> and do you think my emotional instrument is clogged today. >> you're definitely more clogged than normal but in general i think your emotional instrument is clogged. too guarded. >> i think because i might be physically clogged that maybe emotionally i might open up more. >> maybe that will. >> be free to be me this morning. >> never heard of them. generational thing. >> no it's not generational. these are famous. >> famous people. >> anyway coming up the dow but this is what you feel the experiences in life let them come through. >> coming up the dow and s&p are looking for their first back to back weekly gains since february. we'll talk markets next but first here is a look b

data follow suit with the most layoffs coming from oil field services coming from halliburton, baker hugheshe blood letting to slow down by summer. but the effects are now weighing on other industries. so take a look at manufacturing. that's going to be an area to focus on moving forward while the number of layoff announcements within the energy sector is starting to slow down they're picking up amongst industrial goods. now, that's according to challenger gray and christmas. that also shed a seasonally adjusted jobs last month according to the labor department with categories like machinery suffering the biggest losses. that's going to continue. expect that to continue as companies including u.s. steel service notices to thousands of employees. as we've seen oil prices bring contraction into oil production. these companies are now going to be feeling the pain as well. guys, back over to you. >> thank you so much. the futures pointing to a lower open after friday's jobs report. this is of course the first time we get a chance to react too it. investors worry now about a growing pile of weak

that's when they agreed to buy baker hughes. >> i think you're right.out. >> kind of amazing to show how the streets was able to catch up with some of these big things. we saw this last week with johnson & johnson massive hit from the dollar fluctuations and the strong dollar really hurt them in a big way, but the street was able to anticipate that. that's why maybe a lot of the pain has been baked into what we are hearing from some of the stuff this quarter. >> you've seen that in energy stocks this quarter for a while. >> i want to talk about two other things. we have been talking about the past couple weeks but a lot about activism and whether it's a good thing or a bad thing. we had larry fink on the show who suggested that we're out of balance. out of sync. you're on the board of a publicly traded company. what do you think is going on right now? >> i was very interested in larry fink's letter like not only saying things like don't overreact, but also have a little bit of a long-term perspective. you have two things happening. the activism combined

we have in studio, the first time ever, mike baker, former cia operations officer. scottie nell hughes news director is with us. and jamie colby. the host of strange hrps"strangeinheritance." she was in miami and reported on the riots there back then. and rebecca is a maryland attorney. and, of course, rod wheeler. lucky to have him back. former washington, dc, homicide detective. rod, you were in the middle of it all last night. did an amazing job. tell us what happened since then with things on the job. >> just like you indicated, charles, yesterday it was just all hell had broken loose. i was on the telephone with you as a matter of fact on this show when everything was taking place. i can tell you today has been completely different. significantly different. we've seen a couple of little squirmishes amongst the crowds. we haven't seen anything as bad as we saw yesterday. i do think we're making progress in terms of restoring the peace and tranquility of that community. don't forget, we have another night to go. i can tell you, there's been chatter on the internet and various social