. >> glor: an exxonmobil refinery >> glor: an exxonmobil refinery in southern california has the go-aheado reopen after an explosion last year, but neighbors say the process of getting it back online involves a new danger, increased air pollution. danielle nottingham has details. >> reporter: this was the scene after a sudden explosion shut down this exxonmobil refinery in torrance, last year. smoke and ash covered surrounding neighborhoods. stephanie stevens says she'll never forget hearing the large boom. >> i was petrified. >> reporter: the blast damaged the gasoline refining unit. the plant provides 20% of southern california's gas. the crippled plant cut production, sending gas prices in parts of california above $4 per gallon. homeowners within miles of the facility packed a 12 hour public hearing, worried about what reopening the refinery will do to their air. >> i'm very concerned about the pollution that should occur. >> reporter: one engineer compared restarting the plant to starting up an old car. during the first hours, hundreds of pounds of hazardous pollutants will be pumped

. >>> two of the major oil companies, exxonmobil and chevron, were out with their latest results today. as you might expect, low oil prices spell trouble. exxon's profit fell more than 60%, its lowest quarterly level since 1999. but to put it in context, revenue was still nearly $49 billion. that is for the quarter, folks. as for chevron, profits turned into a loss and it was more than wall street expected. in the end both companies were relatively flat in today's trade. jackie deangelis goes deeper into the numbers. >> reporter: big energy reporting this week ecand by all accounts it was a tough quarter. exxon managed to beat expectations with 43 cents earnings per share. but that profit was achieved by slashing costs to offset plunging crude price in the first quarter. the company's capital expenditures dropped by 33% year over year, showing drastic measures were necessary to survive a quarter where oil fell to almost $26 a barrel. >> very hard to see this thing outperforming. on its valuation it's already pricing in oil at about $75 a barrel. plenty of oil stocks are pricing in the

exxonmobil stock up at the moment up about half a percent. >>> closing bell, 20 minutes away. voters turn out in record numbers for donald trump and birny sanders, it's the delegates that still hold the key to a presidential nomination. from free flights to fancy hotels to stays in the white house, let's just say it's good to be a delegate. we're going to examine the delegate dash and just how far some candidates are willing to go and have gone in past elections to secure the delegate votes come convention time. "countdown" coming right back. they say that in life, we shouldn't sweat the small stuff. but when you're building a mercedes-benz, there really is no small stuff. every decision... every component... is an integral part of what makes the 2016 c-class one of our most sophisticated cars ever. because when you're setting a new benchmark for refinement, it is the small stuff... that makes the biggest impression. the 2016 c-class. see your authorized dealer for exceptional offers through mercedes-benz financial services. i've got a nice long life ahead. big plans. so when

exxonmobil is not a chchicken to prucer.n the oil markets a big ock to the market. >>>> ionder if there'll be a lawsuit. it's a an o opinion. i protected opopinion, a first amendment issue asas it is clime change is a firsrst amendment. ststuart: the state of new yorks trying to criminalalize that opinion n from exxon. >> he seems to f forget he tookn oa to uphold the constitution which ovides for freedom of speech which according to thee supreme court as well as individual >> they are eking a federal criminal exxonmobil in that rega. >> is anotr issue,e, a sharp ine in oil prices which is throrown into probl area and the financesf a lot of energ companies. o would've thought that exxonmobil of all people wou lose the aaa ratin i think it's a big deal. >> i agree. vladimir putin is ering well. sitting u -next year twice a day for l these years. strt: thank you, judge. a new study shows that m grandchildren gemore welfare mone money from the government and poor american children. the story next. . . 32 yearst t this place and

guys, that is a big deal when s&p cuts exxonmobil's rate. >> yes, that is a big read.on't go to paris. don't go to la. don't go to tokyo. live there. hey, welcome! come in, come in. when you airbnb, you have your own home. make your bed. cook. you know, the stuff you normally do. ♪ wherever you go... ♪ don't go there. ♪ live there. ♪ even if it's just for a night. ♪ >>> woelcome back to "squawk alley." i'm jon fortt. and talking to the ceo and founder of roku anthony wood. and i want to dive into the tvs because we were talking about how from zero to 8% of the smart tv market being r oshoku tvs, a tell me how it is going to the affect the business overall, and how many of the tv buyers are taking advantage of the roku service? >> well, it is the platform for tv, and we monetize it through the large margin licensing iing services, and with wep want to get as many rokus out there, and we have the player out there, and stream more than three times as many hours compared to the biggest competitors like amazon or google for example. and one of the big goals is to drive up t

earnings for chevron and exxonmobil. >>> tracy, back over to you. >> fingers crossed for today.n dowdy, thank you. have a nice week. >>> now your nbc 10 first alert weather. >> it's a chilly start this morning and a cloudy one, too. you may see fog and mist this morning. a chance you'll need your umbrella at times. now can see a few rain drops falling on cape may right now. that's a live view from the marquis de lafayette hotel. your neighborhood forecast just ahead. jessica boyington watching the roads in the first alert traffic center. >> we're watching the schuylkill expressway right now. these are cameras around montgomery drive. doing okay for the most part. you can see a disabled vehicle with its flashers over into the right-hand shoulder. we'll have more updates for you on your morning drive when i come back. >>> twice as expensive, more easily concealable and even longer high. this morning, hear what police are telling parents in our area about this new form of marijuana including what to look out for. >>> plus, thousands of dollars in damage. take a look at what happene

fed meeting and meetings from apple and exxonmobil. >>> the average price of regular unleaded jumpinglon. that's due partly to crude oil prices edging up. gas prices are up 41 cents in the past two months. >>> sales of prince's music have sky rocketed since the artist's death thursday. there were 2.3 million song sales in the past three days, including near ly 1 million jus on thursday. led by prince's biggest hits including "purple rain" and "when doves cry." >>> just ahead, a surprising movie approaching $1 billion. can you guess which one? what brand of makeup is better for your skin than wearing no makeup at all? neutrogena® cosmetics. powders, concealers and foundations in new shades for more skin tones. with vitamins and antioxidants. your skin will look beautiful when you wear it and even after you take it off. neutrogena® cosmetics see what's possible. helps preparey themng right for a healthy future. but up to 90% fall short in getting key nutrients ... ...from food alone. let's do more. add one a day men's ... ...complete multivitamin. with vitamin d and magnesium to help su

amy: in the paper is says -- >> again, these are -- 58 of these lobbyists, many work for exxonmobil orthe gas industry, so it is kind of, you know, insincere for kessler does say that these are small because these are people have a lot of influence in washington and are pretty wired and when it comes to policies. amy: i want to go backck to what hillary clinton said on "meet the press." >> i feel sorry sometimes for the young people who believe this. they don't do their own research. i'm glad that we can now point to reliable come indedependent analysis to say, no, it is just not trueue. amy: eva resnick-day, can you respond? >> absolutely.y. it felt insultining that hillary clinton called all youth climate activists are prepared and not looking toward our own research. as a youth movement, we have done her own research and that is why we are so terrified for the future. said was a report that 400,000 people are dying every year today because of climate change and going hungry due to drought and being pushed out of their homes because of rising sea levels. scientists are saying we have

eight dow components are set to report including apple, facebook, amazon, exxonmobil and twitter. on monday, new home sales for march. tuesday, republican and democratic primaries will be held in connecticut, maryland, delaware, pennsylvania and rhode island. on wednesday, we'll see if the federal reserve will raise interest rates when the feds open market committee meets. thursday, the first quarter gdp and for moms and dads out there, it's take your kids to work day. beauty is in the eye of the beholder and for one entrepreneur, that meant leaving the lingerie business behind for candy. it's a growing attraction for thousands of customers, even the whitney museum. our kate rogers has more on the sweet taste of success. >> reporter: cereal entrepreneur's candy is fine art with a wink and a nod. >> looks good? >> yes. taken a high brow approach. >> do you find it relaxing or therapeutic at all to sit here and paint? >> i love it. >> reporter: she emigrated to canada from israel as a child and started experimenting in the kitchen at a young age. >> what i'm really fascinated by is

a two-day meeting from the fed and earnings from apple and exxonmobil.w rising 21 points to 18,000 even. >> landon dowdy with cnbc. landon, thanks. >>> now your nbc 10 first alert weather. >> 5:27 and chilly this morning. the temperatures are still falling. these are the philadelphia temperatures, 43 degrees right now in chestnut hill. and nice and clear. we'll see lots of sunshine over the city. that's a live view from the adventure aquarium. your neighborhood forecast just ahead. katy zachry is watching first alert traffic. good morning, katy. >> i am, bill. good morning. i have my eyes on the roads this morning, 76, the schuylkill expressway, traffic is moving swiftly in both directions along montgomery drive. much of the overnight construction in pennsylvania has lifted by this time. there is still some residual construction in new jersey. we'll look at if there are any delays on the roads there. >>> hillary clinton will be in philadelphia today but she's already getting a big boost from lawmakers in pennsylvania. we'll tell you about one of her camp

two companies i most want to hear there are oil giants exxonmobil and chevron. they report later in the week. investors want to hear first reassurances that the dividends are safe, and second, what's the outlook for oil prices and oil demand in the second half of the year. these stocks have faced impressive coverage recently on expectations that global demand is again growing. there's also a fed meeting on wednesday and while no one is expecting them to raise rates, traders will be watching to see if the statement leans towards highlighting the strengths in the economy rather than the weaknesses. which might indicate whether they will raise rates at the next meeting in june. meantime, tech stocks have had a tough time on disappointing earnings but other sectors have stepped in to fill the gap. so energy and health care, materials and financials, they're up 4% to 6% this month. big technology names like microsoft skin tell are down. that rotation out of tech and into energy materials and financials is considered healthy by investors. the issue is whether earnings

but again, exxonmobil raising its quarterly dividend. you. >> final question, david and bob. very quick answer here. one rate hike this year? two or more? what do you say, bob? you first. >> at least one. i hope it's two. that would meent world is in good shape. i'll go for two. >> all right. going for two there. over/under is two, mr. kelly. what do you say? >> at least june. we have june and september and we'll see about december. >> call it 2 1/2. he can't tie. we don't want a tie. >> all right. gentlemen, thank you very much. we appreciate it. we're minutes away now and finally i'm reading copy that is mine, not bri's from the fed's latest interest rate decision. >>> all right. let's forget apple and twitter and oil and exxon for a moment. something else big is set to happen in 4 1/2 minutes. the latest fed decision on interest rates. let's welcome in scott minor. good to see you, buddy. >> guggenheim partners. you change your name every week. steve liesman as well joining us here. >> steve liesman partners. >> steve liesman incorpor

also exxonmobil. you can see both of those stocks north of 1% higher.f you take a look overall, it's not just the mega oil companies that are in play here as well. you take a look at the more levered plays. about moving companies post-5, kcg, noble corporation, c-drill, diamond, all from 4% to 10% for seagrill. as the oil prices play into it you're going to see whether or not we're seeing a rotation out here. remember, as we talk about this kind of a rotation, it's going to be interesting to see whether or not we do get data from that. ubs told us it's hard to say whether this is whole said sasaf that. >> as we all know, it's not a rotation until art cashin says it is. >> thanks. >>> injoining us today, jeremy segal from university of pennsylvania. steven grasso so far at the big boards. and rick santelli is checking in as usual. steve, you and i are friends. you know i would never pick on you, i would point out before yesterday you told us before apple stocks you were long on that. blah, blah, blah. we know what happened to apple a twitter which are al

shares of exxonmobil are rising.y posted their smallest profit in 17 years due to falling prices for sandoil natural gas. that was partially offset by a big jump in earnings from exxon's chemicals business. earlier this week, standard & poor's revoked exxon's triple a credit rating for the first time since the great depression. roby corporation has agreed to buy tivo, one of the pioneers in digital video recording. the price tag, $1.1 billion in ash and stock. rovi acquires patted incidents for set top boxes, just as competition for those devices heats up. the company will adopt the tivo name. and americans kept their wallets in their pockets last month. consumer spending up less than forecast in march, up just .1%. meanwhile, incomes also increased and consumers saved the most money since december of 2012. that is your bloomberg business flash this hour. mark? mark: betty, let's talk banks. what a week it's been, a week of infighting, one of deutsche bank's supervisory board members is stepping down. gail thomas was

another stunner, this one for exxonmobil. standard & poor's dropped the aaa rating. they've held the perfect rating since the 1940s. s & p is saying they pay high dividends and won't have enough cash flow to reduce debt. there are two aaa rated companies left in the country, johnson & johnson and microsoft. and victoria's secret, the company getting rid of staples to focus on the core business say goodbye to the catalogues that have been so popular with men and women alike. no more televised swim sessions. expect fewer promotions. they are cutting back on those sales, too. if you are a fan of the brand, get the bathing suits now. they'll be gone by the end of 2016. dari: i read they were having a hard time selling to millennials. they're not interested in lingerie. >> isn't that something? they didn't quite hit the mark with the swim wear. they're trying to get back to core business. the catalogues, super popular, but they did nothing to correlate to sales. steve: any catalogue i get goes like this. right into the trash. dari: even victoria's secret? it's all online.

that the company will follow moderate financial policies and the low leverage of the capital, and exxonmobilaid that nothing has changed in terms of the company's prudent management, and balance sheet, and they place a high value on the strong credit rating, and they will continue to focus on creating long-term shareholder value despite this near-term valuation. johnson and johnson and one other company are the only two left with aaa ratings. >>> and now, the selling point for exxon is the drilling ability, and for them to say, hey, we have a pristine credit rating and does it impact the drilling licenses? i don't suspect it is going to, and so the imct of the equity prices is muted. >> and now, let's look at the commodity analysts making news with jeff currie saying that the crude oil and sentiment in the sector is bullish. and jeff, good to have you back on the set. >> pleasure to be here. >> and let me ask you, relative to the exxon news, and not the comment on the specifically, the equity, but the stock per se, but do you think that the companies who have not cut the dividend, and the bi

exxonmobil says the fire posed no threat to residents nearby, no injuries, still waiting on word of anytion in capacity at bay town, which is 3400 acres and the second biggest chemical and gasoline refinery in the united states. >> what is so amazing is that there is another fire in houston at the bazell refinery. >> the swiss chemical? >> yes. >> huge fire. >> bad day for houston. >> the entire oil and gas industry has been a dumpster fire for the past 12 months. now you actually have fire. >>> coming up, the shocking question in jamie diamond's letter to investors. what it may mean for your ability to get a mortgage loan. that ahead when "power lunch" returns. >>> the new york times more light on the management dilemma at disney between current ceo bob iger and his anticipated successor thomas stags who has been pushed out of the company. we have seen this before, though. where board members are unable to find a suitable replacement or at least claim they can't. what is the issue here? should board members be more open to successors or ceo setting too high of a standard. let's bring i

worked to export fracking throughout the world, to reward companies like chevron, halliburton, exxonmobile and conoco phillips. in my opinion, that's unacceptable. >> kasie hunt, just 40 minute drive to the east in albany, new york, ahead of bernie sanders' rally. about an hour from now, kasie, let's start with you. with what he told chuck todd. no longer saying she isn't qualified. he seems to have moved on to a new line of attack. here it is. >> the point that i was making which is obviously correct is that if you look at where she is getting her money from wall street and the powerful special interests, she voted for the war, she cited henry kissinger in a sense a model for her. i think those issues will tell the american people that in many respects, she may have the experience to be president of the united states. no one can argue that. but in terms of her judgment are something clearly lacking. >> so kasich, they've been kaec campaigning against each other for half a year now and how can they suddenly raise the issue of judgment? >> reporter: we've actually been hearing this argument

worked to export fracking throughout the world to reward companies like chevron, h haliburton, exxonmobilnd conocophillips. in my view, that is unacceptable. >> as the race plays out now, the all-important superdelegates are back in the news as well. case in point, while sanders won wyoming over the weekend, he essentially split delegates with clinton, both getting seven apiece. that means clinton still has a massive lead in both pledge and superdelegates. let's bring in msnbc's kasie hunt who is at the bernie sanders rally in albany. also with me, alex seitz-wald covering the clinton campaign. is there some belief in the clinton campaign that some superdelegates could switch over to the sanders campaign at the convention? >> reporter: this is all predicated on the idea that sanders would get more pledged delegates. the spokesperson tweeted that there is a 0% chance that clinton doesn't clinch the nomination by june. even if that doesn't happen, there is not much precedent for movement for superdelegates. in 2008 as barack obama was gaining momentum, only about 30 superdelegates switched

department worked to export fracking throughout the world to reward companies like chevron, halliburton, exxonmobil, and conocophillips. in my view, that's unacceptable. >> when challenged on his gun stances, he frequently says, well you know, i represent vermont. it's a small, rural state. we have no gun laws. most of the guns that are used in crimes and violence and killings in new york come from out of state. and the state that has the highest per capita number of those guns that end up committing crimes in new york come from vermont. >> as always, we have all sides of this race covered with our correspondents, covering the campaigns, but first, developing now, i want to take you to bernie sanders, holding a rally in rochester, new york. it's going down at monroe community college. senator sanders talking about education, the cost of it in this country. let's listen in. >> when wall street's greed and illegal behavior destroy our economy, they went begging the congress for a bailout. and against my vote, they got that bailout. i believe that it is totally appropriate today for us to impose a tax

we like bp, chevron, exxonmobil but it's partially because the dividend yields of 48% will prove pretty resilient we think in a market environment that's fairly lackluster. the stocks will proven defensive in this scenario. >> sounds to me this is more as even sort of you admit, it's a chase for yield a defensive stance to play offense in a market where there's otherwise not many areas that you think will be advantageous between now and the end of the year. >> it is that, but at the same time, let's not forget that the market fundamentals for crude oil are improving. supply and demand are on divergent paths. we think the second quarter of 2016 will be the peak quarter for inventory adjusted for demand globally and we think they decline thereafter and if that's the case the market will strengthen and will probably continue to. we really don't disagree with the idea that some of these near term outages might be just that. brian makes a good point. maybe iran's production is higher or saudi arabia's production is higher. my question would be who else. >> quickly, because we have been showi

this chart shows the streams of money from exxonmobil and royal dutch shell, whose c.e.o., by the way, signed the oil and gas paris declaration, as well as the american petroleum institute here, the western states petroleum association here, and the australian petroleum production and exploration association here. that's shell. that's exxon. this money deluge, total spent, $114 million, includes advertising and public relations, direct lobbying here in congress and at statehouses, and political contributions and electioneering. and don't think that any of this goes to support a solution to climate change. what this chart doesn't show is the dark money that these corporate behemoths funnel through phony baloney front groups, often untracably, to publicly undermine public standing of the climate crisis, and to undermine action in congress. front groups have been testifying this very week in the environment and public works committee against climate action. and was there any pushback from charles koch? or from the oil c.e.o.'s? no. nor does this chart show the undisclosed fossil fuel mil

exxonmobil losinhis triple-a-a rang and b boone pickens will weigh in on theeil industry.en nuggets, how t the recall coul affect y you. ♪ ♪ >> wewelcome back, 45 minutes away from m the opening bell fo a wednesday. we're expecting a lower openenig for ththe broader averages. we've got the fed memeeting today. a couple of stocks on n the mov toy. apple setting the e tone. down n nearly 9% in the prpremarket. the company reported t the firs everer decline in iphone sales tonight. goldman sachs remomoving it fro the convictionon buy list and taking t the price target on th stocks down. ththey're between5.76 and 95.78. from a year ago, t that was hur by an after tax chcharge for a tankerer. other news, , at&t&t lower afte ththe cocompany said it lost t service customerss and thehere s a boost to earnings from purchase of sasatellite tv provider dirirectv. oil prices takaking a toll on te world's largest publicicly tradd oil company.y. meanwhile, exxonmomobi chcher casone with that story. >> yeah, mariaia, this is a sig of what's going on i in e inindustry. ststanrd & poor's s

scarlett: shares of exxonmobil are rising after the company posted its smallest profit in 17 years.idn't we just talk about this? yeah, let's move on here. that is your bloomberg business brief. we'll have much more after this. racy: for more on oil, we have an analyst from lynch lunch. >> they've been pretty strong so far. remember, some of the basic ingredients, price extremely cheaply, and what's happened throughout the course of this year is natural gas prices have come down a lot, but crude oil has gone higher, so that spread has heidened, and that's a little bit linked to the chemical, to the chemical returns. the companies are delivering. so certainly not a bad environment. global demand for stuff is actually pretty good. what we saw last year, the crisis. hey've rallied dramatically. it's been quite ok, so if you had the right spread, you did pretty well. scarlett: we heard about a lot of companies creating a better situations for themselves, but it's still costing exxon a lot to get oil out of the ground. >> definitely he tracks costs remain high. if you charge extraction c

that is different than saying you get it from exxonmobil but to deny she has received substantial -- lobbyists of the industry. if people receive money from lobbyists of the industry, i think you're receiving money from the industry. these are not just a little work -- these are lobbyists who represent the oil and gas industry. >> when you look at this, do you feel that she is now beginning to feel the pressure of your campaign? >> well, charlie, we have won 6 out of the last 7 caucuses in every instance, we have won by landslide victories and we are fighting hard in wisconsin. i think we got a shot to win here in new york state. what virtually every poll shows, last cnn pole had us up than trump than what she is and i think more democrats are looking candidate who can best defeat trump or some other republican candidate. >> first, you got to get past hillary clinton. when you look at the numbers, mathematically it isn't good for pup you talk about the caucus win and now primary states come up where she does very well. what do you know, senator sanders, the rest of us don't, in terms

that's different from saying you get it from exxonmobil.ndividuals what is your saying. >> lobbyists of the industry. if people receive money from lobbyists of the industry, i think you're receiving money from the ind"ustry. these are not just worker men, these are lobbyists who represent the oil and gas industry. >> when you look at this, do you feel that she is now beginning to feel the pressure of your campaign? >> well, charlie, we have won six out of the last seven caucuses in every instance we've won by landslide victories. we're fighting hard in wisconsin. i think we got a shot to win here in new york state. what virtually every poll shows us we are beating trump, i think the last cnn poll had us up 20 points ahead of trump, far more than she was leading trump. and i think more and more democrats are looking at bernie sanders as the candidate who can best defeat trump or some other republican candidate. >> first you have to get past hillary clinton. when you look at the numbers mathematical mathematically, it still isn't good for yo

lord brown, do you believe saudi aramco, four times bigger than exxonmobil, will go public?nvestors look very carefully at the state oil companies and have to think through carefully who controls what. these are not normal companies. they don't make normal economic decisions. and there are plenty of examples, whether it is petro s petrobas, sinopec, a lot of companies that have been so-called privatized, they haven't really. a little bit has been floated. >> i would say that the big problem with earamco privatization is it feeds a vast machine. i think it is going to be downstream in the end. >> good discussion. pleasure. thank you very much. once again, check out the book. appreciate it. >>> up next, two names that might bring you some pretty fat returns. we're talking big money in college sports. and asking this question, should college athletes get paid? we'll take the cnbc take on that story when "power lunch" returns. ♪ ♪ the intelligent, all-new audi a4 is here. ♪ ♪ ain't got time to make no apologies...♪ you ppremium like clockwork. month after month. year after year.

on friday, the granddaddies, i suppose, chevron, exxonmobil and phillips 66.hn eade with a preview on how the earnings will be after a very volatile quarter in oil prices. john, welcome. so take us through those names that i just mentioned. i don't know whether each and every one is in your coverage universe. speaking specifically or more broadly about how the earnings are going to look in this first quarter and in the current second quarter? ed. >> let's talk broadly here. i think the earnings are going to be a disaster. i think they're going to miss all the expectations. it's going to be a bad first quarter for the industry. but it's also an inflection point. i think from here on out the quarters are going to start to get better. a lot of the companies have made substantial cuts to costs, plus we have higher oil prices that we've had in the past two quarters. it's going to be bad this week as far as earnings are concerned. but that is going to improve. >> so where do you see -- and obviously, these things are highly levered, to tied to the price of oil. what

we're going to be hearing in the next couple days exxonmobil and chevron as well thursday and friday.e'll see exactly what they have to say, of course, everybody is making sure that that dividend is safe for both of those companies. tyler, back to you. >> thank you very much. it's coming up on 2:00 p.m. on wall street. and this hour we're going to be joined by two big guests, steve mcmillan, chairman and ceo of homelogic and billionaire and investor carl icahn. scott has covered carl icahn for years on cnbc. he joins us as well. >> good to be here. >> we're going to begin plchlt eye can is going to phone in we're told, or we're going to call him back and bring him in to talk about his investments and more in this political season, i'm sure. but first, let's get to steve and brian and wholeogic. >> one reason he is joining us in addition to his relationship with scott sbauz of the relationship to the guy to my left who is steve mcmillan. he is the ceo of hologic. what do they have to do with carl icahn? >> a lot. >> he took a big stake in your company. i guess some of the board got rep

no impact 87 on exxonmobil.rad by the way leaves justwo companies that are aaa rated in america. that will be microso. i have some of it. johnson & johnso whdid exxon get the cut in the rating? train for a trbled in recent years. ovcast overshadowing the entire sector. the straightforward s. energy policy in this count. stuart: we like to finh up what we ca the 9:30 [-open-bracket blog. to date the issue is politics. i say donald trump and hilla clinton have gotten so now. arare going to get t m seems like theyre well underway. but i foundhat how people feel about wall stree how much distss there is in the exit polling data. whare they voting for? those who say the u.s. enomyis beg hurt by wall strt. they a evenly split betwee llary andernie. it's a verinteresting piece of information as wnavigate the inteection. stuart: interesting as to who is voting for term. thworking class working guyuy. liz: and now a a majoror foreign policy spepeech right after hillary's wheelhouse t to stuart: that's right. it's the eli

earnings season rolls on this morning, exxonmobil reporting a 63% decline in profits from a year earlier in better than expected, nonetheless. and the stock is up as oil prices hover around $46 a barrel. checking the broader markets this morning, we're expecting a lower opening from the dow industrials, but it's a fractional move, the dow, s&p and nasdaq all in negative territory as we see earnings set the tone for markets. futures are looking weaker this morning and of course, that's an extension of yesterday's selloff. all ending the week in the red. yesterday the industrials down 200 points. as corporate earnings are set to decline for the third quarter in a row. this is the longest and broader since the financial crisis. weakness in the energy sector, slowing economic growth. joining us is a financial advisor. >> the central bank meetings this week, let me start on earnings. is what pressuring earnings? how do you characterize the earnings season so far? >> so no growth and low growth are starting to have a major toll and for those sectors badly hit by price tliens, energy. but it's

making it six times bigger than exxonmobil. >> based on selling off 5%. >> yeah.ont of a economic advisory committee today. whether one of the drugs is effective for the treatment of muscular dystrophy. good morning. >> good morning, becky. it's shaping up to be an tense and emotional day here at the meeting of outside advisors to the fda. patient advocates and community members have been lining up for more than an hour. it starts at 8:00 a.m. people started arriving at 6:00 a.m. to get in the room. more than 850 people from the community are expected to come today. fda doesn't make the decision today. it's expected by the end of may. the panel will discuss the drug. what is at stake? it's a rare universally fatal condition. there are no good treatments now. usually puts kids in their wheelchairs by their teens. there are no drugs on the market. the for sarepta the application supporting the approval the clinical trial was run on patients. the argument from the patient community they say it's keeping their kids walking for longer than expected. the fda said it's n