it is the entire san joaquin, the delta, the san francisco-based system. all of these paces are spaces pieces are supposed to sit together. i think we have to urge you tomorrow to support the basic fundamental base framework that the water board is proposing, and then work with in that to make it work. you have worked with questionable demand numbers for the future. demand forecast. you have worked with questionable science so far. the real science says that the rivers, the delta, the bay, needs more freshwater and i think we need to -- it is time to step back from the alliances who would see us deplete and destroy the environment. it is time to reflect the will of your constituents in san francisco and in the bay area who care deeply about the resource that they draw their water from and please do not file lawsuits. please do not ask for further postponement. please support the water board in their efforts to balance the needs of humans and the environment tomorrow. thank you. >> the first question i have is if the state water board is asked to delay a de

the delta health. and so the data and studies prove that the delta has been deteriorating for the last several years and the state ward of quality control delta plan has the best solution guaranteeing a healthier flow of water through the delta. this will stabilize the temperature of the water in the delta and helps control the algae blooms, it gives the salmon a chance there by giving fishermen a life. it promotes wildlife and birds and what they depend on. and other fish too as well. and it maintains a healthier flow through the water to the delta into the bay. thank you, very much. >> thank you, very much. any other further comments on this item? going once, twice, public comment is now closed. commissioners. >> commissioner moran, you promised. >> i'll try to deliver. first of all, thank you all for coming in. you always give us a lot to think about. i appreciate your taking the time and effort to do that. some of the early comments reflected the frustration of not having the text of voluntary sett

we see delta, this morning delta was down a dollar. myself, all right, every day i come in, there is a negative delta story same negative dealt why story. i'm supposed to continue to sell delta. that doesn't make any sense to me i say, don't take these -- if you look at delta and say you don't like the number, you sell it down a dollar, could you be recognized that other people have already done that jpmorgan was -- we thought more confident about jpmorgan after citi jpmorgan had reported, sorry to drag you away from that -- >> from what >> wells >> trying to read wells. >> i'll go wells. >> i'm sure you will go wells. >> had jpmorgan reported yesterday, we knew december was bad. mar marianne lake says it is good. wells has pluses and minuses not everything is great. >> not everything has been great at wells for a long time. >> well, yeah. >> does the stock already reflect that >> i think so. but the community banking is very strong. small business lending is very strong. >> yes >> small business lending, that would be interesting to s

in valuation, i still think delta works.aybe united you get a little more bang for your buck at this point, but i think delta can guide higher the guidance for delta, they guided full year $10 to $12. you can drive a semi truck through that but a lot of people will have to play catchup in the airlines >> i tend to be with you in terms of which one do i go to now and it would probably be delta. i know what phil just said about we don't want to overdo it, but boy, it was terrible it's terrible relative to what everybody was expecting. they were looking at 94 cents. united is clicking and doing the right thing, going to the right cities where they're getting better margins >> so the top one is american airlines, they have a 25% market share at reagan national and then southwest is 15%. delta is 10% but jetblue doesn't even show up on the radar spirit airlines doesn't even show up on the radar there. >> look, if you get beat up because of the government shutdown in the airlines, that's a one-off. it's not like other businesses t

and that's why not only delta was under pressure but the entire group delta and american getting the brunt of it today, down 7% and 8% one of the worst days since 2016 for dealt aire look at shares of boeing i point this out because borg like the rest of the market is under pressure and understandably boeing shares are feeling it because it was such a leader on the way up it's feeling that pressure almost as much as the market sells off over the last month, month and a half it reports orders and deliveries for 2018, early next we can. usually people focus on deliveries but also focused on what they say about orders and in terms of any sense at all with theky has not indicated that we might be seeing hesitancy from airlines about standing up and saying, you know, we want these number of planes let's say, three, four five years down the road. >> when was the last time we married from boeing, phil? >> oh in terms of any kind of guidance. >> yeah. >> i want to say three, four weeks. and at the time dennis mullen berg they said they were the optimistic about the earning and revenue and th

delta stepping in. lot of people into the cues, helping take any of the nonsecurity functions off of the tsa's ahands hands to ttt that we can. >> you are frustrated? you're paying taxes. you're paying taxes that are supposed to be paying for the costs. the government is not turning around and paying that what are you saying to government right now >> well, we -- in our published comments today, we encouraged our elected officials to do the very best to resolve the differences as quickly as possible you know, we're not taking sides on the debate. but we need to get the business moving again one of the other issues for us is that we're seeing a reduction in revenues in the month of january. not huge but about $25 million due to the fact that government contractors and some government officials are not traveling the way they would anticipate because of the shutdown. we're also having some certification delays in getting our new aircraft brought on to our operating certificate because the faa has shut down

eastern. >>> delta airlines getting whacked.>> thank you delta, yes, in a tailspin after bank of america downgrades the stock to neutral part of a rough ride for the rest. delta as well as american airlines, jetblue, off of sharp highs and is there a soft landing? boris slausberg. is there time to call a bottom here >> i'd say for delta, no identifiable trend to point to when that's the case and as it's been for delta, it has paid to buy the stock when it's ugly as it is now. however, if that's all i have to work with, i really don't have much to work with at all speaking in terms of levels for delta, big support is $45. this is the multiyear low and positive up there. >> the stock looks cheap a value opportunity or trap? >> it may be a trap because as far as the market is concerned, the only thing they care about is revenue per available mile and fares down 2.6% in december. and of course, the shutdown is really not helping the the airline indust airline industry today 2 hour waits, just the delays themselves are going to have

remix some boats are found floating here on the delta and other cases they are abandon our rural roadss believe they arall beings stolen under the cloak of darkness. >> they are casing before hand and going out looking for boats they might be able to come back and get later. >> reporter: this boat was set on fire desert appeared >> it concerns me a lot because as a new boat owner, i don't want to find my boat missing. remix the sheriff's office is telling people to report anything suspicious. >> we saw a guy come in the other day and we didn't know who he was. he was cruising around in a little boat looking around. >> reporter: they are advising owners to lock up their boats within a fixed chain. >> records your numbers for electronic equipment and boats in case they are stolen we have a way to track them back. >> reporter: one man was arrested in december for about thefts but more rest could be made. >>> what happens now that pg&e is filing for bankruptcy. up next, the role of california state regulators and whether they share the blame for pg&e's failures. plus, tsa agents across the

the rash of thefts targeting boats on the delta. >>> up next, he has exposed himself to women and joked about mass shooting victims. where comedian louis sold out two shows in the bay area. >>> your tracking rain into the bay area tuesday back here at model. ibeen building them fora 115 years,hat's get a ford. if you want a car with driver-assist technology, get a ford. if you want waze and amazon alexa compatibility, get a ford. if you want a car that doesn't have any of that, get anything... but a ford. otherwise, you're gonna want a ford. ♪ (music throughout) >>> 11, controversial comedian, louis ck, is scheduled to perform two nights at the san jose improv. comedian and actor stepped away from the public eye in 2017 after he admitted that he had exposed himself to women. louis ck returned to the stage less than a year later with a controversial set that drew widespread criticism, lake darby of the performance revealed that he joked about mass shooting victims, asian men, and transgender people. the shows on wednesday and thur out with tickets priced from $35-$85. >>> a spike and put

the other thing is the difference between delta and the rest of the industry is that delta guides aggressivelythe rest of the industry tends to tell you what they are seeing. delta puts out big numbers and hopes that their team can live up to it and that is not what happened this year. >> what is the average hedge price? >> it has come down quite a bit. jet fuel costs have come down the $2.40 per gallon into high one dollar range. the curve shows jet fuel in the .ne dollar 60 sent range if you think about pricing for the rest of the year, even though oil has come down, you can't just change your model and raise your earnings estimate. you have to lower your revenue forecast as well. that is what investors are doing. there is clearly a lot of concern and nerve respect to the group. nobody wants to step up. was thought the u.s. market supposed to be consolidated. >> it doesn't does not. the unit revenue numbers have been fairly good. yields are strong. when you look at december in general and the fourth quarter overall, what you see is halloween which causes people to stay home. election day, th

delta refused to let the couple board. they flew back to los angeles aboard another airline. >>> a dramatic rescue on an icy lake. how several chicago police officers worked to save man remember the way we used to do things? hey man... like connect with friends? dig it! or get in shape? or sell a house and pay a real estate agent a big commission. [crash] at redfin, we charge you a 1% listing fee. and because redfin.com is america's #1 brokerage site our agents get more eyes on your home so you sell for thousands more than the one next door. don't get stuck in the past. sell with a redfin agent. than the one next door. what does help for heart fait looks like this. entresto is a heart failure pill that helped keep people alive and out of the hospital. don't take entresto if pregnant; it can cause harm or death to an unborn baby. don't take entresto with an ace inhibitor or aliskiren, or if you've had angioedema with an ace or arb. the most serious side effects are angioedema, low blood pressure, kidney problems, or high bl

thank you for joining us. >> good to see you. >> so, talk us through delta first of all a beat but iyeah. i think that's fair. what delta management couldn't do and i don't fault them for this but they couldn't deliver clarity. we need more clarity on a solution to the government shutdown, on the north atlantic which is a market that's experiencing some challenges we need clarity on, you know, gdp trends for the year. as that clarity hopefully comes into view i think that will help airline stocks break out of the current rut they're in but delta wasn't really in a position to opine on the issues or expect united with anything uniquely salient to say in that regard. >> what's the biggest source of the current rut they're in >> well, you know, it is interesting with airlines because the top line unit revenue in particular exerts disproportionate influence on share prices you know disproportionate influence on valuation. more so than earnings per share do and at the moment demand trends, rising trends are on the weaker side. that causes airline stocks to derate and not concerned about f

i called delta dental last week to enroll my husband and me. i was told i can opt in but i was told my husband could not. i asked them why, i was psalming that dependents were covered. the person i spoke to delta dental, said call the agency you get your insurance from. i called hhs and spoke to a benefits analyst. he said, oh, we assume dependents were covered. i'll have to check with delta dental and get back to you. no one gotten back to you. i want to know if dependents covered? >> anyone from delta dental can answer that? >> she wasn't able to be here today? >> does anyone on your staff know? >> i assumed the same thing actually. >> it is affirmed that dependents are eligible. i did hear about this from the staff. we've been getting other question about that. we confirmed with delta dental at that time. [indiscernible] >> thank you. >> i name is gale ow. i'm a retired teacher. i got the flier regarding kaiser's support with the hmo providing fitness membership and health extras. it's not a problem that it's actually listed for ccsf califor

(pam) delta airlines is starting to issue travel waivers ahead of the worst . delta's waivers will be for 28- northeast airports, including new york's la- th weather could also impact delta's hub in atlanta, where possible snow and temperatures could create icy conditions. the waiver will allow customers traveling to, from, or through specific cities ... to make a one-time change to their plans... without a fee. at a noisy gathering punctuated by protests, the california public utilities commission meeting in san francisco without a fee.their plans... change to one-time ... to make a friday.expected on bigger storm expected on friday. (pam) (pam) delta airlines is starting to issue travel waivers ahead of the worst of the coming winter storm. delta's waivers will be for 28- northeast airports, including new york's la- guardia and j-f-k ... the weather could also impact delta's hub in atlanta, where possible snow and freezing temperatures could create icy conditions. the waiver will allow the waiver will allow customers traveling to, from, or through specific ci

and wednesday respectively we already heard from delta last week in terms of fourth quarter revenuend the pressure that they're seeing relative to expectations we'll talk with ed bastion next week and oscar munoz at united the bottom line is a lot of people are wondering have the glory years happened already for the airlines where is that next leg of growth for these guys because it's certainly not there as we head into 2019. >> i'm going go back to the question i feel like i ask you every single time you have an airlines story, fiphil are the airlines going back to their old ways >> i don't think so. they do have the ability to grow revenue. certainly when you look at the segmentation of the cabin. so it's far different than it was seven, eight, nine years ago. the issue becomes one of, okay, these guys have really done well in terms of growing that segmentation and that ancillary revenue. then where's the next leg of growth after that? i think that's what a lot of people are asking themselves right now. >> do you think we're seeing separation in the airline sector between those th

delta, united continental prepare to report earnings tomorrow.ve on floor of the new york stock exchange. susan. >> we're looking at delta, also the rest of the airline industry falling after bank of america cut its ratings on delta, with respect to the opening bell tomorrow. delta air lines is in freefall. as of late the stock is down 20% over the last 12 months. earlier this year, january, told us unit revenues are still growing but may not be as much as what the markets anticipated. airlines, they're pretty strong. they're expecting the ninth straight year of profit growth. we'll see what united and delta have to deliver tomorrow. back to you. liz: susan, thank you very much. the dow is down 96 points. a torrent of bad news hit stocks over the past five days. first apcutting revenue guidance first time in 15 years. macy's, barnes & noble, fedex, american airlines, delta, all following suit slashing their outlooks. on top of that, blackrock cutting 500 jobs. ford says it will cut thousands of jobs in europe. goldman sachs warning that earnings

the one country two systems modeled after chains in hong kong and other cities in the pearl river delta already form one of the most dynamic economic regions in the world a new mega branch ams to bolster development but in hong kong people fear that beijing will exert greater control on the more liberal regions. so in the. bridge and tunnel construction that set new records spanning fifty five kilometers it's designed to improve integration among cities in an economic zone that's already a global economic powerhouse the pearl river delta the ferries are facing competition . let me lay the bridge has advantages for hong kong it cuts travel time and we're no longer dependent on the ferries alone. the new bridge over the pearl river slashes the journey time around the greater bay area from more than three hours to just thirty minutes it's improved hong kong's connection to the industrial region on the chinese mainland. the bridges proponents see a host of economic benefits. in terms of. transportation cost at the time this would. be. more competitive in the region. megacities like long sho

at the wrong time and that that hurt them and hurt their overall of the bottom line so you're right delta downgraded and by the way when they downgraded them the bank of america merrill lynch said the catalyst for economic growth is not really the same as some of the other airlines are right now although they praise them as an industry leader but right now they're going through some problems when you say they got burned what the what you're talking about is hedging their risk in futures on things like a jet fuel and one of those companies that famously did that back in two thousand and thirteen alex was southwest and last week we spoke about the death of herb kelleher and the founder of southwest airlines and i read some interesting his. about how he did it which began all the way back in one nine hundred sixty seven you know a cocktail napkin and he wanted folks to fly inexpensively in texas he was held off for four years in the courts by the big airlines at the time but in one thousand nine hundred seventy one with just four boeing seven thirty seven's they took off and then and after d

yeah delta is going to be the first to report tomorrow morning before the bell so they're going to see it kick it all off for the airlines and you're right they've been talking about lowering expectations as a result today delta was downgraded by bank of america merrill lynch the stock just just under two percent drop today as a result of that news downgraded from buy to neutral and there's several reasons for it they also cut the target price from sixty two dollars a share to fifty one dollars a share there's predicting between two dollars twenty five and a dollar thirty profit earnings per share when they announce tomorrow and that's going to be a disappointment on the third quarter you had income which was up thirteen percent revenues were up eight percent but they didn't do they had a disappointing month of december especially and one of the things they point to are those fuel prices they say they got burned no pun intended there they got burned with fuel and they purchased at the wrong time and that that hurt them and hurt their overall of the bottom line so you're right delta dow

, delta warned investors that unit revenues, gauge of airfare, down froafs forecast 3.5%, delta saideld growth from last-minute bookings were more modest than anticipated in december, delta fell nearly 9% yesterday. cheryl: they may need to reevaluate how they price their seat. general motor wants to bring you food? tracee: yes, self-driving unit crews and door dash to team up, program schedule today start in march will deliver meals from restaurants, the company said they are looking to explore grocery delivery for certain stores already working with door dash, gm's first amendment, gm shares down 21% from a year ago. lauren: tough year for them. thank you. cheryl: futures this morning, it's been a volatile week, we had more than 600 points in the downside, yesterday we were up 63, negotiations scheduled between u.s. and china, that's helping the markets, dow 264, s&p 30 and nasdaq 99 and a quarter. still ahead, despite a rocky road on wall street well, for the last 3 months, investors are investing, new things that millennials are now offended, target is show about nothing. >> you

got a lot of time and the intent is to look at the set of alternatives as a package for future bay delta plan update for consideration as early as possible certainly by december 1. it's an aggressive time line. the state board action did not have a consequence for missing the march 1 deadline so i'm not sure what that means but it is something we're looking at if there are still things to be resolved we have time to resolve them beyond that. then the other thing we talked about is regardless of how fast or slow the state moves on things, we need to be developing alternative water supplies soon and that we need those for a variety of reasons. partly the in-stream obligations, our existing shortfall and meeting our customer demand increases. we're trying to accelerate the work and a set of projects an activities to move forward. in a single slide i tried to capture that. on the left side is a set of projects we have been working on and rates of speed and this shows the time line by which they may be developed over time. they're mostly recycled water and transfer and storage options includi

delta down more than 8%. we'll tell you what is going on with all the stocks coming up. >>> good day, everyone welcome. i'm tyler mathisen we're all over the major market sell-off at this hour. seema mody is following the money from the floor of the new york stock exchange. josh lipton on the ripple effects of apple's warning to the world and the -- one of the president's top economic advisers will weigh in on the impact of the trade war on apple. let's begin with seema at the nyse hey, seema. >> good afternoon, tyler we started the day down about 300 points on the dow and losses intensified once we got that ism manufacturing report it certainly did inspire market confidence the lowest reading since november of 2016 i'll add to that, apple and china concerns those are the three factors the market is paying attention to today. no surprise, the broader tech index down 4%, followed by materials and industrials. companies with notable china exposure, many of which are housed in the cnbc china index we made. cater

again, delta experiencing about 200 flight delays. big concern from the stoxx perspective is that delta has to reduced fares to get people to come to the airport and fly at this point. guy: let's wrap things up in europe. we are through with the regular session and auction process. during thea mild dip auction process of the ftse 100, down by 2/10 of 1%. the dax outperforming today. auto stocks stand out in particular. high performance from some of the tech stocks, including st micro. if you are leaving your trading desk, getting in the car, and what to continue keeping up with breaking news, turning to bloomberg radio at the top of the hour. i will be taking you through that our. jon ferro continues his great work in davos. this is bloomberg. ♪ theor: western digital is best performer in the s&p 500 today, up about 5%. kailey leinz is here with more. kailey: good signs from western digital today that may be the worst is over, specifically with their forward guidance for the third quarter. undere just slightly expectations, but a tape

call it the delta.anging so quickly to the negative that even if the number is positive, but it is pushing into the global economy is less. the bottom line is all of you free traders out there, this has to get china's attention, along with all of the multinationals as we learned from earnings season mike, back to you. >> rick, has all our attention thank you very much. >>> when we come back, look at shares of ebay, they're spiking after elliott management announces a stake in the company. shares up more than 7% right now. "squawk alley" will continue after a quick brea k. (baby crying) ♪ ♪hold on, i'm comin' ♪hold on, i'm comin' ♪hold on don't you worry,♪ ♪i'm comin' ♪here we come, hold on♪ ♪we're about to save you i'm comin', yeah♪ ♪hold on don't you worry,♪ ♪i'm comin' ♪ hawaii is the first state in the u.s. to have a hundred percent renewable energy goal. if we don't make this move we're going to have changes in our environment, and have a negative impact to hawaii's economy. ♪ verizon provided us a

today i'll provide an update on the december 12, 2018 adoption of the bay delta plan. in vim -- summary there's affects for the water supply and we stated we think the benefits could be achieved using smart functional flows combined with science-based measures other than flow and we continue to believe voluntary agreements can produce a better overall result. with those thoughts in mind i'll talk about the state water board action december 12. they did adopt a water quality plan update with the 40% in impaired flow requirement february through june but with important amendments. at the same december 12 meeting the department of fish and wildlife presented updated information on voluntary agreements for the river as well as six other tributaries and included an overall framework agreement. the figure shows the rivers that were involved in that ed -- in that were agreements as a report and highlighted in red is the tuolumne river. i'll focus on that river because that's the greatest interest to us here. first, the proposal includes the functional flows as we talked about

and airlines like delta are flying fewer government warrior and contractors, means they bring in less money. still, airlines see no slowdown in the number of people looking to fly. the outlook for the economy remains robust. >> was we go to 19, fuel price moderate a little bit and demand for air travel remains strong, business and leisurti we connue to see record ve renue. >> reporter: with jet fuel prices still in check,his is a good environment for the air industry. the challenge forarriers is adding more flights so they can not their business, while flooding the market with too many seats that could spark a fare war. that's a tricky balancing act that will determine the airlines do in 2019. phil lebeau,ss "nightly busi report," ft. worth, texas. >>> let's turn now to gary bradshaw toboalk more the airlines and how everything from the shutdown toeil prices impacting that industry. he is the portfolio at the hodges capital management. welcome, gary.ic it's that have you here. >> thanks for having me, sue. >> we did hear from southwest this morning that the shutdown so far cost them b

he is due back in court next month. >>> a warning tonight to and the delta.e sure you're both are locked up. the contra costa county sheriffs office is reporting a spiky boat theft with watercraft being stripped and abandoned. cristina rendon went on a right along with deputies and joined us live with the story. >> reporter: the most recent thing that happened two weeks ago, a boat thinking from a marina in east brentwood and was later found running on the water. it is one of just about a string of stories about test on the delta. >> we are always thinking of suspicious activity. especially both on the water race. >> reporter: patrolling the delta is a 24/7 job. >> the thefts of vote both is always an ongoing concerns. right now we just happen to be seeing a spec. >> reporter: lieutenant amy cook, commander of the contra costa county sheriffs office morning services unit tells us there have been 11 both stolen from marina since october at a neighbor sam segment within walking counties and there have been around two dozen. >> we have seen a rash of thefts all

cell phone videos show police with the delta flight. the plane was empty and not yet started boarding for it's 8:00 pm departure to austin. the threat put a hold on flights for 15 minutes while the aircraft was moved to the isolated part of the airport. atlanta is the world's busiest airport. delta says passengers are being moved to a different aircraft. police are searching the plane out of an abundance of caution. as of about 7:10, flights are arriving and departing from atlanta airport. there will be an investigate who sent the tweet prompting this scare. jeff. >> glor: kris van cleave, thank you. president trump's ex-lawyer michael cohen today postponed his testimony before a house committee that was set for february 7. he says there have been threats against his family. cohen is an essential figure in robert mueller's investigation. another cbs news poll just out tonight says for the first time more americans think the russia probe is justified than say it is politically motivated. 50% to 45%. paula reid has details on cohen's post

these principles run deep in the arkansas delta.e rocky hills of our northwest. they are respected in the pine woods of our south plans. while we all stumble in life, it is our faith, our sense of responsibility and compassion that will get us back on course. >>> the second companion is the public trust. the voters who put us in office, it specter elected officials to listen. and to be informed. to follow principles and voices of reason. the people's trust is important to me. it will serve as my constant companion throughout the next four years. we all agree that arkansas is an amazing place to live, to raise a family and to build our own special future. it has not always been easy. we have had our share of challenges and difficulties. most challenging time, perhaps, was during the great depression. even during that time, we did not lose population. people stayed here because there was poverty all throughout the nation. when the economy boomed again after the war, other states offered better pay. between 1940-1960, over 150,000 peop

is united, american, obviously has a hub there as well. >> you have united earnings next week and delta and the airlines had a lousy year and except for united. right? >> well, united was down pretty bad before that. so for united, the last year was a case of they finally got out of their own way i mean it was shooting themselves in the foot repeatedly over the last three years. >> or others >> i won't touch that. people said it was a sleeping giant if they could ever get their act together and they started to get their act together and that is why the stock moved. i'll be curious to see what they say in terms of close-in bookings that was the erncorporate travel now we're starting to see suggestions that it is cooling off not only for some of the largest carriers, but across the board. it may not be as much as corporate traffic. >> the international business has been strong. >> and that is not part of these warnings either. >> but there is economic weakness outside of the u.s. so which is the right story? >> well, i think part of what insulates the major airlines on that international

the last two hundred miles to delta junction. this is where the alaska highway finally joins the alter richardson highway which leads from the coast to fairbanks. delta junction is considered the official end of the twenty four hundred kilometer long highway. the last mile stone is a popular photo opportunity for the international tourists. are. the ultimate destination of the highway was and still is fair banks the largest city in the interior of alaska. downtown second avenue with its pubs small shops and rugged charm still looks a bit like it did when there were thousands of soldiers stationed in the city. during the second world war fair banks was the hub for american aid to the russians here russian pilots took over thousands of fighters and fighter bombers from their american counterparts and flew them on to siberia in all weathers and in all seasons. the pilots of that time would certainly feel comfortable in the bars of fairbanks today. the nightlife of the city is still wild and roughest perfectly in tune with alaska's r