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 and that was the new normal. there was concerns about costs at $100 a barrel. now the mood of the conference today is gritty realism and recognition that it is cyclical. >> and the reason so many has gathered here is because you have topnotch speakers. ceos of the biggest compe world. case in point, bp ceo bob dudley and how he sees the market playing out over the next year. >> it is lower for longer. don't know how long. several years is a possibility. the u.s. the inc

brian sullivan, see you in a bit back out there. >>> steve, you've traded the stock.'t know the last time you've been in it. >> its been a while, regrettably, it's done well. >> chen says something's brewing, is that enough to get you excited? >> he moderated what brian's comments had to say. something big, and he said something brewing. i still think it's a company that's evolving, i think there's a place for it -- >> that's a ceo not wanting to say more than he has to. >> i long for the phone. i still think it's a much better phone for business than the iphone. >> blackberry's great, it's like radio shack in your pocket. it's a $10 stock since last june. i don't really -- look, there could be some kind of strategic partnership that pops into into two points, i would wouldn't say to the short, i don't know why anyone would allocate to this if it really breaks out on news that's transformative to the company, you will have a chance to buy it. there's absolutely no reason to anticipate that. so i'm staying away from it. i'm not attracted to it at all. >> what at this p

you can clearly see brian sullivan is there with them in houston. brian? >> normally in an oil field, i have a rig behind me and i'm in a nice hotel or a suit. it's a big conference. the executives and ceos are there. pioneer ceo will join us the. here is the biggest player in the middle. one of the biggest in the world. we will ask him where he sees oil going and the layoffs and what will happen in the industry. a lot to talk about. talk about dynamic layering. we will door that in this show and we are back after this. take a look. the lightest or nothing. the smartest or nothing. the quietest or nothing. the sleekest... ...sexiest ...baddest ...safest, ...tightest, ...quickest, ...harshest, ...or nothing. at mercedes-benz we do things one way or we don't do them at all. the 2015 c-class. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. >> amazon introducing a total of travel bookings. the shares are up by 7/10 of 1%. up by nearly 10% to all time highs back to the ipo in 2009. back to the network se

i'm brian sullivan in california.e ironies of the drought is that the state faces a water shortage. you can see the low level of the reservoir behind us. just off the coast is nearly 200 quintillion gallons of water. it's expensive and difficult to make that drinkable. let's find out exactly what it takes with jane wells at a desal plant. >> reporter: california for years has failed to invest in any water infrastructure, but now everything is on the water table, including desal. this will be the largest desalination plant in the western hemisphere and pretty soon it will start sucking in 100 million gallons of sea water a day. bone dry california sits next to the largest source of water in the world. the pacific ocean. turning saltwater into fresh is expensive, requires a lot of energy and isn't good for nearby fish, but california is running out of choices. >> we are standing in the middle of the reverse osmosis plant. >> reporter: jessica jones is showing off the $1 billion desalination plant being built which will

our brian sullivan is out west at the milken global conference. hi brian. >> hey, tyler.ch. that's right. we're going to talk to don peebles, ceo of peoples corporation about development, about real estate. don, welcome. obviously, what we've got to talk about baltimore, we've got to talk about what's going on there. not only are you from that renal, you're an urban developer. you're involved in local politics. what do we do here? how do we solve baltimore now and how do we solve baltimore or d.c. or whatever might be later? >> well look this is boston -- this is baltimore, it's ferguson it's new york city, it's everywhere. what you're seeing now is a sense of hopelessness for urban african-americans. if you look at baltimore, the real challenge there is the unemployment rate for african-american men is almost 40% and so you have this tremendous wealth disparity. that's what we're seeing there. is there's a sense of hopelessness and frustration. these types of police abuses have been taking place for decades. it's just now technology has put a mobile phone and video recor

i'll hand it over to brian sullivan back down in houston. brian?your dulcet tones are far superior to my own. we're not sick of hearing from you one bit. earnings are a big theme as well. we're going it bring in sara eisen and phil lebeau. they have a couple companies to talk about. sara you and i have agreed to disagree on the impact of your favorite topic currencies on earnings. i wanted to let you know that i haven't forgotten about currencies. a few minutes ago we sat down with the ceo of the italian oil giant, one of the biggest producers in the world, and i asked him about the impact of the stronger dollar on his business. here is what he said. >> it's impacting positively because i think at 90% of ours is outside europe and italy. most of our production and development and expenditure is in dollars. that is positive for us. >> so, sara i know that the stronger dollar may have a negative impact on american companies, but let's not our investor viewers forget if you're in europe perhaps the stronger dollar is a good thing. >> and that would su

power plays in business and investing are all gathering in beverly hills which where we find brian sullivan. good morning to you, brian. >> it can't be the biggest because you're not here, mandy. it's almost the biggest power players. thank you very much. michael eisner ran disney, he has his own company now. everyone knows who you are. thank you for joining us. >> pleasure. >> tv five years from now, what's it look like will i have a job? >> if you focus on content. so many distribution platforms, content is king. that platform whether it be cable, streaming, whether a d2 channel coming up podcasting news, the best content will get the eyeballs. >> so our parent company, comcast, time warner cable deal obviously off the table. people say the industry will evolve now faster than it ever has. >> well, comcast has known with very good management that content is what they want. they came after disney at one point. they tried to make a hostile advance on us, which was not successful. >> that was 11 years ago. >> yes. but then they retrenched. they bought universal. universal has motion pictures

. >> brian sullivan is with us and, brian, join in here. >> thank you very much. tyler, mr.are some of the hurdles that need to be overcome as far as you know when we look at the 17 different charges that would possibly carry a death penalty how many verdicts would we need to have a verdict on in order for it to be a death penalty? >> any of those counts. >> in the sentencing would there be any weight placed on how many of those 17 that are death penalty eligible that we would have to have a guilty verdict on that would skew a potential decision and sentence to capital punishment if it's more or less or are they literally all equal weighted? >> >>. >> there's no cameras allowed inside the court. we're looking at the live picture outside. obviously, the media starting to gather as we're told that court resumed at 1:45 and that a verdict had been reached. michael, jurors had been listening to all sorts of -- i think there were 92 witnesses called. they look at graphic testimony, photos of injuries and deaths. this is probably a very difficult and emotional trial to undergoal.

bp ceo bob dudley sits down with our brian sullivan. they'll talk cleanup, compensating victims and the collapse in crude oil prices as well as much more. stay tuned. 's massaging gel insoles. when they're in my shoes my feet and legs feel less tired. it's like walking on a wave dr. scholl's massaging gel insoles, i'm a believer! 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 like her more. and i do. oh, the silent treatment. real mature. so you wanna get out of here? go national. go like a pro. don't just visit new york. visit tripadvisor new york. with millions of reviews and the best hotel prices... book your next trip at tripadvisor.com today. the technology changes the design evolves the engineering advances. but the passion to drive a mercedes-benz is something that is common... to every generation of enthusiast. the 2015 dream machines, from mercedes-benz. today's icons. tomorrow's legend

i'm brian sullivan. i'll be back east tomorrow hopefully. fed and all the crm stuff. i've enjoyed being with you from los angeles. i'll see you tomorrow from englewood cliff. "closing bell" starts right now. >>> thank you. hi and welcome to the "closing bell," everybody. i'm kelly evans down here at a busy new york stock exchange. >> here we go again. i'm bill griffeth. the fed releasing its decision in the last hour comment on the economy. obviously weak data out on the first quarter. which was much weaker than anticipated. the fed still is data dependent. it looks like june may be off the table in terms of a rate hike. we'll talk about that. we have a lot to talk about. top names on wall

let's go to brian sullivan for a news alert on the oil patch. brian. >> as your weekly oil and natural gas drilling rig count and oil rigs down again, but they are increasing the pace of decline from the last couple of weeks. 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 we

kev, thanks as always. >>> turn to "business before the bell" with cnbc's brian sullivan.expected which is good. you want the number as low as possible. people filing for first time unemployment benefits, joe. up from last week a little but stay under that 300,000 mark. really that's the key, where we are, the number solid, not great, but i will call it solid. other news out there joe, i know you like apple-related stories. everybody's finally got their hand on the apple watch. all revows out. you've read some, it's a spectacular device groundbreaking maybe but difficult to learn. the learning curve, reviewers say, major reviewers, say it's tough, small not that intuitive, once you get into it it's pretty cool and google going after really netflix, hulu and others where they paid subscription service for its youtube, set to launch as well. $10 a month what some are saying it might cost. behind a firewall paywall, whatever want to call it. so google trying to make youtube profitable or more profitable service by potentially going after netflix guys that whole pay subscripti

brian sullivan spoke with bp seo about potential consolidation of the oil and gas space. there are always times when prices change, there's lots of speculations about changing. there's been two or three big deals. but i don't feel that right now unless oil were down lower for a lot longer. >> so bp as far as you know no one's approached you about buying your company. they haven't come to you. >> no. no one has approached us. >> have you had conversations about buying other companies? >> no we have not. >> our next guest says more deals could be on the horizon. let's bring in global hunter securities managing director mike kelly who joins us here. nice to see you in person. >> good to see you. hi, guys. >> how do oil prices factor into this fact that consolidation may happen? should we think that there's less consolidation? that companies aren't as pressured? >> sure. i think any time that oil price corrects like this it's the opportunity for deals. at one point they're down 50%. if you have the view the longer term view that this is a short-term correction, we're back to

brian sullivan back in the house. over to you, sir. >> all right, thank you both very much.w down nearly 100 points but it is still up under 1% for a gain. about 0.9 of a percent. the dow has not had a down april since 2005. oil higher on the session, near $59.50 a barrel. melissa at the nasdaq where apple, melissa, is becoming a big mover and maybe a big story as well. >> it is a huge weight here on the nasdaq. we are just about a point away from session lows right now. apple, as you can see there, down by 2.3% on reports the new apple watch could have a major flaw. "the wall street journal" citing sources say apple found a defect with the watch's taptic engine. that's a component that gives notifications in a less bothersome way than say, buzzing or ringing. the journal says apple scrapped certain watches because of the defect. cnbc reached out to apple. the company had no comment. ivan, good to see you. >> good to see you. >> should we be concerned? according to various reports, they had to switch very dramatically and quickly all of their sourcing from one supplier in ch

it's brian sullivan in los angeles. you know, the interesting thing about this deal is that mylan, perrigo, and teva are all headquartered offshore. mylan's in the uk perrigo's in dublin, and teva is an israeli company. does the fact that they are now tax headquartered outside of america change anything about the potential for a deal here? >> well it doesn't matter i think, between mylan and perrigo, because both are overseas. i think the israeli situation is more complicated, was overall, i think these deals are going to work more on operational synergies and the financial synergies and less on tax synergies. >> but it doesn't really have any -- >> fred as a guy that has done many international deals in your day at schering-plough and others, can they thumb their nose at regulators a little more than others because where they are technically headquartered? >> i think regulators treat you the same everywhere. and it's not easy because these are global companies. it's only the u.s. justice department. it's the chinese re

the big guy, brian sullivan top of the hour.re than 15% versus the euro over the past six months. nearly 10% versus the yen. nearly 7% versus the pound. you'll be tested on all those numbers shortly. that is beginning to impact yes, some smaller u.s. manufacturers. kate rogers has been looking into that for us. kate. >> that's right, tyler. small manufacturers. they're feeling the pinch as the strong dollar makes their products more expensive. >> the chapel hill north carolina. singapore, thailand, and greece with experts making up 30% of the business. >> i've heard it from my distributors, say, in japan that because of the strength of the dollar it is making it more difficult for them to be probable with our products as an export to them. i have seen -- i just received another order today from japan, for instance, and we can see that his order numbers are down a bit. >> the strong dollar has lisa concerned about losing customers to cheaper competitors. she exports engine cooling products and incubation systems for fish hatcheri

i'm brian sullivan. i'll be back east tomorrow hopefully. "closing bell" with more on the fed and all the crm stuff. i've enjoyed being with you from los angeles. i'll see you tomorrow from englewood cliff. "closing bell" starts right now. >>> thank you. hi and welcome to the "closing bell," everybody. i'm kelly evans down here at a busy new york stock exchange. >> here we go again. i'm bill griffeth. the fed releasing its decision in the last hour comment on the economy. obviously weak data out on the first quarter. which was much weaker than anticipated. the fed still is data dependent. it looks like june may be off the table in terms of a rate hike. we'll talk about that. we have a lot to talk about. top names on wall street, including rick rieder and james grant, coming up get their way on the economy and what the fed will do about it. >> a lot of hot earnings stories keeping us busy as well. gopro up almost 13% on the news that the company is breaking into the reality space and the debate on whether it's too late to buy the stock. >> if

and brian sullivan over to you. >> here is your power mini for the rest of the hour.for hackers. not your stuart or your credit card. it may be your car. a man who watched firsthand as his prius was hacked electronically. two stock picks and paying nice dividends and an update on that diamond heist in england. we have video coming up when power lunch returns. at the end of the day. they used to get really tired. until i started gellin'. i got dr. scholl's massaging gel insoles. when they're in my shoes my feet and legs feel less tired. it's like walking on a wave dr. scholl's massaging gel insoles, i'm a believer! >> nick built on witnessed two sids hack their way into his toyota. >> two kids walked up to my locked car and broke in. so much for my keyless future. the cofounder of cyber security company look out. nick, what exactly what happened and what were you thinking while you were watching it happen? >> let me back up for a second. i live in a neighborhood in los angeles in the hills. i was at a party at a neighbor's house and the conversation came up about how e

let's get it over to brian sullivan. >> all right, tyler and sarah. thank you very much. i'm brian. joining us in just a moment. if you are in washington d.c. this is anything but a power lunch because in many parts of the nation's capital the power is out. let us get right now to eamon javers with more. how severe is the power outage in washington d.c.? >> widespread power outages in washington. all the federal buildings as you can imagine, have back uppower, but we've seen reports of the state department being hit with a power outage. the white house briefly. the capitol grounds lost power, but then had power restored. they're warning now on the capitol that they might see further power outages throughout the day. we're also seeing reports now that some metro stations the subway here in washington d.c. have been impacted by these power outages. of course people will need electricity to get those escalators moving to get them into and out of those metro stations throughout the afternoon and the rush hour commute. at this point the department of homeland security saying they're seei

i've been in for brian sullivan all week. we'll be back next week. a very godod easter as well. and "the closing bell" starts right now. >>> and welcome to "the close l bell everybody. i'm kelly evans to close out the week at the new york stock exchange. >> i'm bill griffin. stocks are trying to get into the winning column for the first time in april on the second or third trading day. don't forget this is the last trading day of the week. the stock market will be closed tomorrow for good friday. we might see volatility here in this final hour of trade. a lot going on right now. >> even though markets are closed tomorrow the crucial march jobs report will be released 8:30 a.m. eastern time. now

brian sullivan and melissa lee there somewhere. they got the day off.e quarter in the red, but the good news is as mandy just described, the dow is off its low. right now down about 64 points at 17,7-eleven. the nasdaq is at 4,872, and the s&p 500 down one-third of a percent at 2,060 and change. let's get more on today's market action. first with bob pasani at the new york stock exchange. dom is also with us from cnbc headquarters and kayla, who you just saw a moment ago, will be with us for the whole hour from nasdaq. bob, you first. >> look at the s&p futures. we were down 25 points just after the japanese open that was around 8:00. we've been trying to go positive. the good news is there's more advancing than the declining stocks at the nyse. that's a positive sign. we may make it into positive territory. they are the worst performers of the we're. airlines weren't hot. the hot oil is ripping. the inventories are up. i think we got short covering in the oil pits. if you take a look there at the energy stocks up 2% or 3%. the stock of the day, boy, a

. >>> let's get out to brian sullivan for the second hour of "power lunch." >> thank you very much.eg in just a moment. it is almost 2:00 on wall street and right now shares of pfizer the company you just heard from are indeed higher. not by much four cents, but the whole market has turned around. pfizer already up 17% over the past year. what about merck, mrk. merck shares are down about 55 cents. the reason we mention merck, it's not haphazard. we are just minutes away from interviewing the ceo of merck as well. he will come up with meg in about ten minutes time. but the big story developing right now is stocks starting to take off. we've seen a turn. we're not soaring, the dow is up 50 points but we're more than 100 points above our low from earlier in the session. >>> in the meantime let us talk oil, specifically fracking. but not about oil per se. let's take a look at this map. it is a bunch of dots. and the dots represent seismic activity in and around oklahoma. kill the music. within the last 30 days or so some blaming fracking for this activity and this is fast becoming a hu

i've been in for brian sullivan all week. we'll be back next week. have a happy passover and a very godod easter as well. and "the closing bell" starts right now. >>> and welcome to "the close l bell everybody. i'm kelly evans to close out the week at the new york stock exchange. >> i'm bill griffin. stocks are trying to get into the winning column for the first time in april on the second or third trading day. don't forget this is the last trading day of the week. the stock market will be closed tomorrow for good friday. we might see volatility here in this final hour of trade. a lot going on right now. >> even though markets are closed tomorrow the crucial march jobs report will be released 8:30 a.m. eastern time. now cnbc will be live with that special coverage and we'll have full team coverage over the next two hours here, bill, to talk about a lot of the market expectations. we've seen a lot of numbers to the high side of course. then we saw that disappointing adp jobs report today. so a lot of back and forth. strong jobless claims. so many cros

. >>> it is time now for "business before the bell" with cnbc's brian sullivan. e and this morning it's facing antitrust charges from the e.u. what is at stake here? >> it's a big case. you have to go back 15 years, guys. remember the antitrust case against microsoft and their internet browser? this is being compared to that. the european union filing antitrust charges against google really has less to do with their search feature per say than their comparison shopping feature. they say it will block people out. monopolies are not per say illegal, only when you use them to block out other competition. they also reference google's travel offerings and mention the android operating system. this is shaping up to be a massive case that could drag on for years just like the microsoft case which took years to get through. watch this very closely. no reaction from the u.s. yet. again, this is companying from the e.u. a couple other quick stories, retail sales yesterday coming out looking pretty good. we had a slowdown in the first quarter. when you're under seven feet of

forget brian sullivan absolutely. forget him. forget him.ess before the bell former treasury secretary hank paulson joins us on set. >> great. >> upgrade. >> that is great. >> back in a moment. so,as my personal financial psychic, i'm sure you know what this meeting is about. yes, a raise. i'm letting you go. i knew that. you see, this is my amerivest managed... balances. no. portfolio. and if doesn't perform well for two consecutive gold. quarters. quarters...yup. then amerivest gives me back their advisory... stocks. fees. fees. fees for those quarters. yeah. so, i'm confident i'm in good hands. for all the confidence you need. td ameritrade. you got this. how much protein does your dog food have? 18 percent? 20? purina one true instinct has 30. active dogs crave nutrient-dense food. so we made purina one true instinct. learn more at purinaone.com if you want to succeed in business, mistakes are a luxury you can't afford. that's why i recommend fast reliable comcast business internet. they know what businesses need. and there's a no-mistak

. >> let's get to business for the bell with brian sullivan.ll never know the answers because there are no e-mails and maybe everybody is okay with that. wall street gained monday despite a weaker than expected march jobs report but will the rally last? >> gosh if i knew the answer to that question, i would probably not be sitting here right now. here's the thing. we're back to this annoying bad news is good news scenario. let me explain that. the jobs report weak friday. we got the reaction yesterday. the ideas that because the market was weak, maybe our friends at the federal reserve will wait to raise interest rates, remember it's like june or september, maybe they are going to push that back even further, which keeps the money pumping out, which keeps stocks and other liquid assets higher. so again, it's this bad news is good news. the fed medicine market that we're in now. and i'm sure it's driving everybody batty. >> absolutely you're talking about moving forward with presidential politics, but. think wages could be a key issue that a can

brian stelzer, thank you very much for your insight today. speaking to us from new york. >> thank you. thanks. teresa sullivanf the university of virginia is reacting to this review. she said in part, ""rolling stone's" story did nothing to combat sexual violence, and it damaged serious efforts address the issue." >> she goes on to say, "irresponsible journalism unjustly damaged the reputations of many innocent individuals and the university of virginia." this entire thing has been a complete mess for everybody involved. the worst part is the issue they were trying to put a spotlight on, the topic they wanted to bring attention to, they almost made more difficult. victims, young women on college campuses, who already feel reluctant to speak out and talk about campus rape may be more reluctant now. >> and the story, the journalism, just unbelievable. we're journalists, it's to see this sort of thing has been published and that there have been no repercussions. >> no discipline is certainly -- >> no. i think this is the end of this. there's going to be a lot of people complaining. will be interesting to see whe