take conoco phillips, the largest oil producer in the u.s. without refining operations. co today reported a net loss of more than $1 billion. it also again cut capital expenditures as it braces f oil price that's are likely to stay lower for longer. >> conoco, if you step back and look at it, did a pretty good job of bringing their spending levels within their cash flows and certainly i think that's going to be more important and the focus will be on how do you maintain that in a lower for longer environment, especially with a company that pays almost $4 billion in dividends annually. >> reporter: and conoco isn't alone. uk-based oil dutch shell also reported huge loss for the third quarter, racking up $8 billion in impairment charges after it abandoned massive projects in canada and the arctic. as the price collapse continues to drag on, analysts say the trends are a little different than the previous quarters. >> production growth has started to flatten out, in some cases decline. and when you look at the big picture on both commodities, oil and natural gas, certainly i

mike mentioned conoco phillips, it wouldn't surprise me to see them say on dividend, we have to cut our dividend, folks. >> the debt levels continue to rise. and if we do see an increase in rates, that will increase the borrowing cost. it is hard and not sustainable to borrow money to pay dividend. >> i don't think it matters if exxon or another company cuts its dividend, it will bring the whole group lower. >> and we haven't seen default or bankruptcies. but if we do have that soon, that is another thing. to mike's point, volatility will stay until earnings and if we see the stock move lower and maybe you buy the 77.5 and look to spread it on a move lower but at some point you want to offset decay. >> on to earnings. so far a season of pain. yum, alcoa, dominos and adobe falling short. and so which names do traders see having big news. dom is at the board. >> we have earnings season kicking off, over 30 s&p 500 records will report. you have johnson and johnson on tuesday, b of a. thursday, mattel, citi, goldman sachs, ge and a lot of big names and there could be volatility around the e

there are other names though are in trouble, mike mentioned conoco phillips, it wouldn't surprise me, we have to cut our dividend. this oil environment did not fix itself in one week. >> the debt levels on the balance sheet continue to rise. if we do at some point see an increase in rates, that's going to increase borrowing cost and becomes very hard, not sustainable to continue to borrow money to pay dividends. >> i would think it almost doesn't matter if another company cuts its dividend. >> we really haven't seen defaults yet or bankruptcies in the oil field. if we have that soon, that's the thing. one other point about the options trade structure. yes, maybe you don't want to sell that 70 put. if we see the stock more lower, maybe the buy the 77.50 but you'll want to offset some decay. >> earnings kicking into high gear next year. so far it's been a season of pain. all missing and falling hard on the results. which names do options traders see having big news. dom? >> so melissa, we've got earnings season kicking off, this coming week over 30 s&p 500 companies are going to report.

the largest biotech, am gen on wednesday and then conoco phillips on thursday and chevron on friday. and there is huge moves implied. alibaba pricing in a projected 8% move in either direction. gopro looking at 15% move and apple a 5% move and twitter is looking at a 12% move in either direction. now if each of those moves were to pan out, backing a result of more than $50 billion shift in market cap by the end of next week. simon, back to you. >> thank you very much. >>> the biggest name presumably reporting next week is apple. and mike, you are looking at one of the common options strategies as we await the big one. what is it. >> i'm taking a look at an override. sometimes if you are buying the stock and basically let's go over three quick points. when you do a trade like this, this is a mildly post trade. so you look for stable stocks but still want to have a bullish view. but when you sell options, which is what this strategy involves, you want to make sure you are collecting a meaningful amount of premium. for me that means 12 percentage annualized or more. and give yourself up

conoco phillips. it's a real company. losing money, but it's got what i want to see, pure growth. let's see if the market -- the market likes this, it will return to the pure growth it's hated since the quarter began. >> does that set up a quarter where the ferraris and the squares and the first datas and the albertson's have an open door? >> i would say for first data, yes. square, yes. albertson's needs kroger to go higher. it would be a huge sign that people don't hate growth if this thing goes up. the selloff yesterday in skyworks solutions, where they preannounced a better than expected quarter, people still hated it. and they have the love for intel and microsoft. we don't even talk about those companies anymore. they've been red hot. the money needs go back to growth. >> interesting. amazon with their web services event in las vegas today. john fortz there. >> that will be very good. we need to see those stocks move. it's been a rolling bear market. that's the way i look at it. the rolling bear market yesterday had

looking on the right side of your screen, chevron, exxon, conoco phillips, contributing quite a bit to gain in oil prices. finally, couple of other oil movers i wanted to check out, including the top holdings by carl icahn who participated and then some in the five-day rally, we have seen carl icahn profit from those gains. pimm: thanks very much, julie hyman. let's take a look at what's making news today. mark crumpton has more from the news desk. mark: united airlines copilot passed out on a flight from houston to san francisco. the plane had to be diverted to albuquerque, new mexico. a spokesman told the associated press that the plane landed without incident this morning as the copilot regained consciousness and was able to walk off the plane. he was taken to a local hospital for observation. this comes one day after an american airlines captain fell ill and died while flying from phoenix to boston. in the meantime a medical examiner said the pilot of that of naturalight died causes. captain michael johnson was 57. his cause of death was determined after an autopsy and prillaman ar

a three million gallon storage tank at the conoco - phillips refinery has been transformed into the world's largest jack - o - lantern! since the 19 - 50's.... engineers say if this were a real pumpkin... it would be enough to make almost 27 - million pumpkin pies. a milwaukee gun store was found liable in a suit by two police officers who were shot with guns bought at the store. coming up this morning in your 6 o'clock hour... we'll show you why the decision is making other gun stores nervous. cat>> plus your morning news, weather and sports are all coming up. it's now (time) as we take a look outside (xxx) on the (xxx) cam. news at sunrise. weather to go ... jake>> here's a look at your news to go ... jake>> israeli officials are stepping up security... after more than a dozen stabbings in the last two weeks. hundreds of soldiers are on patrol now through the country... and road blocks have been set up around some arab neighborhoods. the random attacks have have a lot of people talking about a third palestinian uprising. jake>> back in the states... hillary clinton and bernie sanders are

exxonmobile, conoco phillips, all of them, or most of them in the green.ounce back today because oil is bouncing back. identity theft. we are told that it is on the rise. your bank teller may be the one ripping you off. palestine's leader says these people will not abide either mid east peace agreement. a programming note for you. we get the big monthly read on jobs in america tomorrow. maria has it covered. it starts at eight eastern on the fox business network. ♪ it really opens the passages. waiter. water. so why would you invest without checking brokercheck? check your broker with brokercheck. the health care law gives us we're cracking down on medicare fraud. powerful tools to fight it. to investigate it. prosecute it. and stop criminals. our senior medicare patrol volunteers are teaching seniors across the country to stop, spot and report fraud. you can help. guard your medicare card. don't give out your card number over the phone. call to report any suspected fraud. we're cracking down on medicare fraud. let's make medicare stronger for all of us. a