halliburton and baker hughes. want to talk at&t. downgrade from morgan stanley of the media names. all of it coming up after this. welcome back to showdown! i'm jerry rice here discussing the upcoming big race between the tortoise and the hare. jerry, the hare always brags about his speed. fine, but he crossed the line when he told... hey, turtle neck. want a head start, how about a week. yeah, my performance does the talking, ok. jerry, thanks for having me, i have film to study. hey, how about you rice cake wanna race? you don't want none of this. vote on twitter for your chance to win a mercedes-benz big race viewing party. do y ou like to travel? i'm all about "free" travel babe. that's what i do. [ female announcer ] fortunately, there's an easier way, with creditcards.com. compare hundreds of cards from every major bank and find the one that's right for you. creditcards.com. it's simple. i've been called a control freak... i like to think of myself as more of a control... enthusiast. mmm, a perfect 177-degre

baker, hughes and halliburton the big latest to announce a layoff. combined 8,000 jobs and along with that both companies announced earnings that topped estimates on strong demand here in north america. halliburton is actually going to process a buying. baker hughes as well. companies rose more than 1% today. not everyone though is suffering because of the falling crude prices. delta airline said lower fuel costs should save the economy more than $2 billion this year. its results topped estimates as it was also helped by an increase in passenger traffic. shares soared by 7% on delta to $49.17. outer wall the parent of red box. the video rental kiosks announced executive changes today. ceo is stepping down and resigning from the board. no explanation was given and another board member was appointed as interim chief. investors didn't like that. shares plunged as a result by 20% to $62.05. investors bought smith and westman. hiked for the third quarter and this year citing improving consumer demand for guns. shares rose 16.5% to $11.67. and there was an

hughes buying baker here is a cheap way of getting halliburton a year or so from now. there's about a 12% spread on the two. essentially buying baker today is like buying halliburton at 33. >> michael carl thank you very much. quick answers. we appreciate it. >>> csx kicking off an earnings season later today for the railroad stocks, and let's take a look if we might at csx shares. there you see them down about one-third of a percent on the day today at 33.80. plummeting oil prices causing pros and cons for this sector. they carry out and consume it. >> hey, tyler. well, pros and cons is right. that's why this earnings season will be so important. there are three major railroad operators -- three major ways that railroad operators could feel the effects of falling energy prices. >> oil shipments. this has been a fast growing business since the fracking crude. searching more than 2,000% since 2006, and so far those volumes are still increasing. if that changes, keep in mind you can sort of see that here. it's still just a fraction of overall rail traffic. analysts say t

baker hughes and halliburton announced layoffs today, too.y're going to have -- >> i don't have a problem with the layoffs, i have a problem with the layoffs and the billion dollars happening simultaneously. i think that's a problem, and historically, these guys don't have a great track record for picking bottoms. the idea you must buy back the stock today, keep the billion in the bank! >> you have to do the best for your money, and right now, if you're in the oil services business, putting it into rigs for drilling is a crazy -- >> i'm not saying, that you're missing my point. >> if the stock goes down 20% for the rest of the year, is it a smart move? >> no. >> it will go down less because of what they did. >> time for the marching ordering. want to get final thoughts on the state of the union, how it's going to impact the economy, main street, and main street more than anything else. president obama says he feels embolden. forget the midterm elections, have you seen the poll numbers? he's going to hit the populist thing hard? >> he thinks h

you see mixed bags for the stocks, halliburton and baker hughes are higher.by halliburton, and the chief operating officer saying there, well, we'll adjust our head count as needed, right? so being a little bit vague. but they employ 80,000 people, cut a thousand job ises in the fourth quarter. we know baker hughes, they will have a work force reduction in the first quarter. might be -- and thaw might take a charge for that of about $160 million or maybe more. but that's what's going on n. the big picture, they've got to cope in line with what the activity is, and you know, obviously, oil prices have been to the downside. and this all comes on the heels of the imf cutting its global growth forecast, so it's also an economic indicator. lori: nicole petallides, thank you. the uber for home improvement. porch.com is a start-up that helps homeowners find the right contractors based on their project and cost history as well as relations from friends and neighbors -- recommendations from friends and neighbors. porch cofounder and ceo matt ehrlichman is our guest. s

we could see a reversal because halliburton is domestic sen trik. we hear from two totally problematic stocks. the first is netflix. and all i can say, it better be good. it caught not one but two important upgrades this week. it has a lot of hot money in it and i don't like my stocks to have hot money in them. the upgrades keyed on two things, the new show lineup better call saul and internet signups which better be robust. all this week the high flyers and cold stocks were taken to the wood shed. some rallied back today but that group has been among the most troubled of all stocks in 2015. if netflix is strong you'll see money cycle back to all of the cold stocks with lofty -- i should call them violations, valueation valuations. this can have an overpowering influence on that entire cohort. we get reports from ibm, it's a real dog. remember that show? we need to hear that finally they have an upside surprise would that be something? or a meaningful restructuring that could bring out value. if not ibm will head down to 125 in the straight line. i

go after the guys in the space and halliburton reported, beat on numbers, cutting 7,000 workers, the transaction they continue to say was the best time to do it, remains to be seen, but stay in this space. i think you nibble here and a lot of guys are telling you there is value and they look at their business and say they are looking to find the right spot. >> we're hearing more and more about companies cutting their cap "x." >> you have to show patience. unfortunately, too many people are trying to buy the bottom of this like they are trying to buy the bottom in oil and not getting what they expected to get. the baker hughes and the halliburton numbers don't, won't take into account all the bad numbers going in. that's why i wouldn't want to fet in front of it. i think there's a downside. >> two huge movers, netflix and ibm pulling in weak guidance. more on those calls and the trades and moves ahead of tomorrow's open. stay tuned. >>> want more "fast money," catch full enseeds anytime anywhere on your mobile device. >> and i do mean everywhere. >> go to cnbc.com/livetv to watch "fas

halliburton rose on the back of strong quarter the profits.t was an upbeat report from the oilfield services company. let's look at other news, starting with falling oil prices. total plans to cut spending 10% this year. the french oil and gas giant is also expected to speed up billions of euros of asset disposal. since june, crude prices dropped nearly 60%, prompting the new chief executive to accelerate his cost-cutting plan. oil service giant schlumberger will buy a stake in eurasia, which could pave the way for it to become the sole owner of russia's largest oil services company. its shares jumped 60% after the announcement. the supreme court ruled that stores like walmart have to keep paying fees charged by banks on card transactions. retailers argued they were being overcharged by the so-called swipe fees, and they wanted the cap to be lowered. good news for bank of america and wells fargo, the largest debit card issuers in the u.s. in china shanghai claims to have made the world's first villa from 3-d printing. it is a mix of recycled c

. >> we also have this morning halliburton earnings and baker news. they reported together.uarter eps at $1.10. the range was between $1.04 and $1.22. we have seen revisions down in the last quarter from $1.30 the share prices for halliburton certainsort of winding down. >> i think it is interesting that halliburton, obviously the oilfield services company, has seen fourth-quarter profit rise as the price of crude has been tumbling. it is up from $793 million or $0.93 last year. let's bring in can hoffman -- ken hoffman on this. are you surprised at seeing an oil services company doing better in an environment of $45 oil? >> i am not an energy analyst but i used to play one. no. a lot of these things are delayed. it takes time for things to walk through. on the mining site when you have a severe downturn like this, usually companies take their down between 75% and 95%. that is what you worry about. people will save -- what is the order flow? that is going to be the interesting part going forward for any commodity company. >> bill janeway, you are legendary in the field of te

schlumberger's competitor halliburton cut 1,000 positions with more potentially in the works. something to watch for in its earnings next week. and some investors think it will get much uglier for oil majors that spend billions of dollars on long-term projects. >> the fracking industry a revolution was propelling us to be the largest oil producer and in a way that i thought was uneconomic and still is uneconomic for the drillers. but it was going to be enough supply to really disrupt the markets. more importantly, the big oil companies. the exxons world dutches and petro process. the day of finding easy cheap oil is over. >> reporter: the dow's federal reserve bank estimates 140,000 jobs could be lost this year in texas alone. including industries and directly tied to energy like construction. and that too is begig to materialize with the u.s. steel layi off 750 workers and idling two plants that make drilling products including one in the lone star state. for "nightly business report," i'm morgan brennan. >>> and still ahead, when an index fund isn't enough. our market monito

. >> i mentioned the comcast-time warner cable, halliburton and baker hughes.hat characterizes a mega-deal? over $10 billion? >> it is kind of a moving line. we see some deals of more than $50 billion like time warner and comcast directv and at&t. but there were also deals over the $10 billion range, and that added to the total volume in 2014. >> we talked about the telecom and cable deal also pharmaceutical companies and energy. are there any sectors that were dormant in 2014 that you expect to have more activity this year? >> we didn't see a lot of energy deals in 2014. there were some but it wasn't a sector that was particularly hot. that's likely to change in 2015 especially with oil prices as low as they are. that's making some companies a lot more vulnerable. and big companies he would never have thought of as takeover target a few months ago are now a lot cheaper. >> the u.s. dollar at a 4.5-year high against the euro. does this also mean maybe u.s. companies get to go by things in europe? >> i think so. people we talked to about 2015 m&a are calling for

halliburton is doing well. this on the same day.talk of short coverings over the last 48 hours. they may see a slight increase in oil. that could also give it a boost. back to you. melissa: thank you very much. a top obamacare open show stepping down next month. she served at the u.s. center for medicare and medicaid for five years. last year she admitted to a calculation error. whoops. still feeling the fallout from the swiss franc. causing banks to lose tens of millions of dollars. deutsche bank alone lost $150 million yesterday. barclays lost up to $100 million. that is not good. twenty-five bore motels expected in the next decade neared also supposed to be female friendly with well lit vanities. song parodies make up to terry eales. president obama said to answer the tough question. from the celebrities of youtube. keep your head on a swivel, congress. the only real question-- more money up next. ♪ real estate in hong kong and the optics industry in germany? at t. rowe price we understand the connections of a complex, global eco

and energy stocks like halliburton that was a great winner and i have a few others. amazon or google i picked out a few bidders for the weekend. charles: you are so sweet. did anybody grabs the license of the truck that hit the market? before they stumbled out of the gate a lot of disappointment with the gdp report but here was the big deal that oil took off like a rocket it to call the market with a and a transportation then we were laid out for the account. the richard fisher's tune it never changes. so how much longer can receive america was to own bonds that is headed to the shore but now i said the adl america is the only game in town i have raised about the deflationary contingent in a wonder if we can dodge a bullet. a crazy session. a lot of sessions like to go into the weekend but this is the most fear i have seen since october. >> that money should go into the 10 year bond you have to be a little nervous but where else will you go? i will take france or spain at a lower interest rates but we keep playing oil for the market's going down with the consumer por

halliburton, exxon announce gains. that is good for the energy sector which is quite problematic recently. retail stole the show. walmart, target, jc penney, those were great performers as well. we focus much on france. sadly with the terrorist attacks. here at home, the markets bounced back. charles: we have mike baker to talk about the situation in france. let's talk markets. here to help the investment pros. a new guest and we're really excited to have him. jerry. show host is back with us. and he's becoming a regular. oliver porsche. as long as you keep bringing those numbers, we'll keep bringing you. hitha herzog and, of course, matt mccaul founder of penn financials group. who had a sigh today. first real, real deal. i guess it was bound to happen. right? you probably wondered after the last few days, yes, the market rally today it finally happened. once again it seemed that stocks took their cue from oil. oil was just a proxy for the economy. although there was a fair amount of illinois noise about this weekly a

we watch, noble, neighbors, exxon, halliburton, all on the downside. retail was a glimpse of hope. lululemon and express with up arrows. express had a high. they also talk about the strong dollar hurting tourist spending. so tiffany came under pressure. micron under pressure. back to you, charles. charles: thanks a lot. about lululemon. now hitha likes it again. i'm joking. let's introduce the pros. james. president of the asset management. paul, president of heritage capital. he's had a hot hand. also, scottie nell hughes. she's back. the tpn.com. news director. joins us. hitha herzog. retail going in two directions. and matt mccaul founder of penn financials. all right. let's dig into the first real, real deal. well, there's good news and there's bad news. the good news is the market, we didn't have a triple digital session. the stock market was down. the dow was off 96 points. people think i'm nuts when i say i like volatility and swift corrections. we can see the stocks that want to go higher and look most attractive. it's scary. shakespeare explains this. for violent fires bur

two of that city biggest employers, halliburton and baker hughes poised to cut jobs.in houston. american express and ebay the latest two announcing layoffs are coming as well. the sudden drop in profit about 40% in the first quarter, i imagine it's a matter of time before they're cutting back in a flash as well. sandbag. maybe not as well. with an economy the president has been trumping and pumping. you don't go around the country relate patting yourself on the back if this reversing

two of that city biggest employers, halliburton and baker hughes poised to cut jobs. not just in houston. american express and ebay the latest two announcing layoffs are coming as well. the sudden drop in profit about 40% in the first quarter, i imagine it's a matter of time before they're cutting back in a flash as well. sandbag. maybe not as well. with an economy the president has been trumping and pumping. you don't go around the country relate patting yourself on the back if this reversing recovery risks kicking folks in the ass. or something like that. john paul, of course the brains behind the paul mitchell hair products. and the pa tron liquor products. i need a drink. >> me too. neil: what's going on? >> i was a bit disappointed, on the state of the union message, politicians were taking all the credit. they never said the people. that's the businesspeople of america. that four or five years ago when things were bad, we grabbed it by the horns. we turned things around. neil: you don't credit the stimulus and all that? >> i would say that with all due respect t

before that halliburton laying off thousands of people. the list goes on. steve, this is a real problem. >> it absolutely. real gasoline prices that is adjusted for inflation fell 11% in december. we're all rejoicing on that. we shouldn't be rejoicing that because the larger month on month declines in gasoline, three occurred in 2008 related to the great recession. three occurred in 2001, related to the dot-com recession. one occurred in 2005, thank you hurricane katrina. and two occurred in 2006 because of the terrorists plot that knocked down 10 airliners from the u.k. to the u.s. we have the nine largest month on month declines all related to terrorism, hurricanes and recessions. melissa: yeah. >> that is not a good record. melissa: so jobs are one negative externality. the other is keystone. >> absolutely is the white house is warning it will veto any keystone xl pipeline setting up a showdown between president obama and new republican controlled congress over one of the gop's top agenda items. american petroleum institute joining charles payne on openi

the justices allow lawsuit to go forward on private contractors kbr and halliburton who worked in iraq and afghanistan. the suit alleged members of the military were injured through companionship negligence including from toxic smoke and burn pits. the companies argued they could not be sued for work in war zones on behalf of the military. the court also heard arguments in a case involving the election of judges and campaign contributions. the issue can judges themselves solicit campaign donations? 39 states elect judges and ban judges from personally asking for campaign contributions. that's done inside by their committees. the purpose is to insure impartiality. >> this is an interesting case for this court the court in yes, ma'am has been very aggressive in deregulating campaign it finances. at the same time we've had cases before where they've been a little more reluctant to allow the free throw of campaign cash when it comes to judicial election. those who oppose any change worry that money talks and allowing judges to stick their hands out will influence their decision from the be

liz: they keep it halliburton. you say wind energy but you like it?the famous phrase "follow the money" it is absolutely a perfect example. i have said it many times before blackstone that did a capital partnership deal but if blackstone has confidence i do. it is the honest truth. and i say right now where is the time to plan. is $11 a share and it pays 11% per year that is the deal. liz: could a costly hedge fund be a waste of your time and money? forget about the high cost of education community college could be free. david: one of the greatest hockey players in the history of the game-winning six stalemate cups -- stanley cups from the dior grangers back in new york joining us onset. and breaking news out of france searching for a woman believed to be an accomplice so is a really over? next. but for people with copd, the world is filled with air. sometimes breathing air can be difficult. if you have copd, ask your doctor about once-daily anoro ellipta. it helps people with copd breathe better for a full 24hours. anoro ellipta is the first fda-appr

i like the guys from halliburton. schlumberger is gold standard.hat they're talking about is don't lose sight of the fact that north america, because you're in north america, is really much worse than the other guys. talking about pricing middle east and asia will be better than north america and they lay the comparison to 2009 and say it's not -- this is the conference call that just ended -- we'd be disappointed if we don't do significantly better than 2009. they did raise dividend. what's the fly in the ointment? the stock is not down much. it's not down much from when oil was at 100 before. it's not a uchblth-turn. >> some say it's 120 to below 80, that's a lot. >> right. oil, morgan stanley, that was one of the spike -- look everybody loves schlumberger. again, just like netflix, if you think oil's going to turn watch schlumberger. be acquire jpmorgan put out a very damning note about oils using the major oils saying that the consensus 50% too high many many numbers cut. schlumberger be up today, if oil were to reverse and go down hard, why di

i just how to joe it had done so well and they have that deal going on with halliburton, assuming nothings up from that deal. i still like that going forward. but this is for beta. for this portfolio i was going after ones -- >> that deal happens there is a lot of lot of beta potential there wouldn't you agree. >> so much of this is stock too though. it is not a $77 deal like it was when halibut rn announced. it is going a less deal. so it's not as much upside. i have two in here that are takeout candidates i think. stratasys i have them in here because they were down some 40 odd% last year. and i think they are a take out candidate. and the ak you ray therapy. this one one the same. i think someone out there can buy them. >> what if you are mid year. >> i don't think i'll be in these la long. i hope to be making trades every week. maybe even in week, judge. >>> coming ups. blackberry ceo says his company is on the right track. john chen's first on cnbc interview up next. and green mountain is going cold but the stock is red hat. are the traders drinking it up up? why's that? look what da

names like chesapeake, chk, or halliburton, pioneer natural, noble. these stocks are all up for the month, considering what a disastrous start it has been. brian and mandy, for oil stocks. that is quite a turnaround. back to you. bob mentioned ecb tomorrow. reports there from dow jones about maybe 50 billion euros a month. what are you talking about. is there a general expectation of anything. most people were calibrating to $500 billion, $ 00 billion a we're. what are traders doing to prepare for it. they're not being proactive, brooirn. they're being reactive. the last five sessions are 115.50 to 116.50. you can see many of the rates including bones. consolidate. >> the yield currently staying below 2%. more than five months ago one of our favorite guests made a rather bold call. especially for the time about the ten-year note right here on this program, which is why we're legally allowed use it. take a listen to what he said. >> i'm going to tell you for the first time that the ten-year treasury is going below 2%. in what time frame? >> did you say

and today seeing uparrows from valero, halliburton, and the xle is the compilation of many of the namese. david: of course, the reverse of that is the airlines, talk about that later. amazon. we saw it jump in after-hours. >> i don't think people expected it to continue with that momentum and such force. it's closing up 14%. that's a huge move on great numbers for earnings season. liz: and then of course microsoft on the flipside, worst performer on the dow, can't shake the numbers it reported earlier this week. >> right. it's a loser, 40, 41, under pressure, we had cat pillar and jpmorgan for the month as losers. today's loser is definitely microsoft. david: visa? >> visa, stock split and a winner. liz: i got to hear it, it's a friday. here come the bells on wall street. david: down 248 points, wow! >> definitely at or near the low of the session. a real acceleration in the final minutes. we have red on the screen and it's the s&p 500 down 1.25%. the russell getting crushed, down two full percentage points on a day where oil saw sea legs and spiked. so did gold. "after the bell" starti

for the seventh week in a row for oil, and those names such as chevron have been the laggards, halliburton retailers were seeing red today, i'm wondering if there was a common theme as to why. >> certainly something the quarterly results, there are some big moves here, bed bath and beyond down 6.7%. however, some of the retailers earlier in the week doing great, so so it's a mixed bag. david: and, unfortunately, financials, the worst performing sector -- >> and underperforming this year too. david: yeah. all right. there are the bells. looks like we're going to -- we're off of the lows of of the session, that's the best we can say. liz: indeed. "after the bell" starts right now. ♪ ♪ liz: a brutal ending for . liz: a brutal ending for two deadly hostage situations in paris today.. david: a female gun wielding accomplice is on the run. james, i got to ask you first of all about what might happen? because of course, we're all on tenterhooks whether something else is going to come down over there, we have the one terrorist apparently on the

that's a little unusual. 4% decline, schlumberger and halliburton down. what's the macro trend? problem with today the macro trend for the last three months is working again today. so ten-year yields are moving, the dollar index is at a new year high, the dollar index is going back for many years a new high, that's got to be a nine-year high for the dollar index, around there and crude keeps dropping. yields staying low, dollar staying strong and crude at new lows. the macro trend, traders watch and they keep staying with it as long as it keeps going. when it doesn't market stops. so fares those macro trends, the three ones, are working well for people who keep pressing that particular market. the question here, kelly and everyone, is what's going to change the conversation a little bit? two potential things. one is what's going on with the european union. european central bank at the end of january may change things. my personal feeling, u.s. corporate earnings is what's going to change the conversation. in a couple weeks we'll start hearing from u.s. corporations, they'll talk

halliburton, baker hughes. they did beat on the bottom line, but management cautious about the future. specifically citing potential problems of low oil prices in 2015. overall these factors put together sending prices lower. i know i heard that tease that you're going to be talking about gas prices. your guest may be saying they could go back up to $5. $2.05. we could be under $2 very soon. back to you. >> thank you very much. >> let's get more on the continued downward spiral in oil and natural gas and bring in eric lee, a commodity analyst at citi. eric, any floor for gas and/or oil anywhere on your radar? >> i'm going to focus on oil today, but certainly for the short-term, there are a lot of downward factors, and it's going to be hard for exactly where and at what level the oil price is going to fall to. that said, it would not be surprising and it's quite possible to see $13, $20 even in the short-term. that said, we do see a recovery in 2016 back to potentially $70 level. >> when do you think the recover

. >> we saw halliburton lay off 1000 people last month. that is -- does that offset the inflation?here is this at the pump, people are happy. lower gas prices. the consumer is happy. the job growth, the economy, is driven by having that commodity at a higher price. i don't think people are paying close enough attention to that. >> interesting insight there. >> we have come up with some research. asia. focusing on reflation.m we think china will be cut by 50 basis points. buying byhe ongoing the bank of japan will bring them to 2.5%. >> last hour we talked to one of the first of the top three rating agencies, and analyst there, who pointed to china and said there is a serious problem with shadow banking. among the first of the three to downgrade rating for china. she said things haven't changed. she doesn't understand what everyone is so excited about. at the mouth,ok it doesn't add up. >> we believe something different than that. >> are to china as we call it. there is this emerging china that is tech driven. .t would be more reflective if you look at the u.s. listed chinese intern

was the year of the megadeal marked by some of the year's biggest acquisitions from comcast to halliburtoncombined $100 billion in takeovers on the same day. brooke sutherland has been looking into the deals are used to have on your radar going into the new year. $3.4 trillion globally and deals in 2014 and that was up 30% from the year before. it was the biggest year for deal since 20 -- 2007. >> we should see this continue because the biggest driver of these large transactions is confidence in that seems to be improving and the economy is doing better and rising stock valuations are giving companies the currency to go after the so-called megadeals. all of that should continue barring any major geopolitical events. >> where could we see some of the biggest deals? >> there is a lot of opportunities in the deals that almost were in 2014. pfizer went after astrazeneca and that failed but it still needs a deal. there was also the issue of price that it came down to. the need for a deal is still bear for pfizer. that is a big name to watch and there is a big number of targets. >> so these hunt

the other players responsible where transocean, about one third responsible, and halliburton.w we will see exactly how much money the judge wants for the u.s. government. bp has already set aside $43 billion in charges to cover the costs. only 3.5 billion dollars of that is for potential. this is far more than they have set aside. >> i remember when the size of the fines facing the business drove the share price, but now that we are in a bear market other things are going on. the effect of the weaker oil price, what a could be having on the sector. >> dramatic cuts being made by u.s. oil companies. slumber shall numbers a is cutting 9000 jobs. that is 7% of their workforce. they did double their workforce after the last decade, so they are cutting back all of the ramp up in the oil market. some of the stats, energy companies have cut spending 35% this year in the united states according to her report. the number of u.s. rigs will fall 43%. 750 going in the u.s. this year. this is a amazing move. >> caroline hyde. >> some of the stories we are following -- a stark warning from

a little surprisingly halliburton beat estimates by nine cents.19 bucks a share. and regions bank regional financial with a sizable miss thanks to a drop in interest and non-interest income. and morgan stanley missed ref knew and earnings as well. the banks going about 0% here sfwlp. >> interesting to see regions moving that way. the regionals are where you can see growth it was said. and it appears even though they are growing loans that loan interest rates are really hurting the revenue they're able to make on the loans. >> is that the curve? >> larry kudlow's here. >> sorry, hi. i'm larry kudlow. i'm with cnbc. i love these guys. congratulations on your new digs and the best path to free market capitalism. >> and, you know there was a sense that 2015 was going to be the year that the earnings turned around. they're hoping for a rate rise. whether that happens or not, steve, i know there are some varying viewpoints this morning based on a "wall street journal" article. >> it's the cost of funds of a bank versus what they're able to lend it out a

first, i've introduced amendment number 48 which would remove the halliburton loophole from the safe drinking water act and finally inquire gas and storage and drilling companies to comply with our clean water laws. every other energy industry has to do it. our farmers have to do it. construction companies have to do it. yet our gas companies have been exempt for years. it should give my colleagues pause that fracking companies are allowed to ignore our clean water laws when they pump chemicals deep into the ground. in this country when we turn on the tap for a glass of water we need to know that our drinking water is safe. so let's be fair and hold the gas industry to the same environmental and public health standards as everyone else. second i've worked with senator menendez on amendment number 65 which would make oil companies financially responsible for the damages they cause when they spill on our land and leak into our waterways. under current law when an on-shore oil spill occurs, the company that causes the spill is only liable for $350 million in damages, including cleanup a

you get a halliburton, baker hughes they don't need all these people. when you see this tremendous capital expenditure budget that's people. you just don't need as many people. >> the rig count will be 20% off their highs in a couple of months. >> go back to that great conference call they told you below $70, it's all bets are off. we are way below $70. >> what do you make of the idea after the fed says we might have said the word "patient" but that doesn't mean we won't height and with inflation under the target market's not convulsing on that. >> it's interesting. every time the fed minutes have come out the last few years there was a big trade. people ignored it. a bigger global trend is happening. >> there is the s&p at the top of your screen and look at the opening bell. trust and fiduciary management services celebrating the recent listing of its master income etf. at the nasdaq it's sprouts farmer market participating in nasdaq's fit week. >> sprouts introduced me to all the things our parentsed a in their pantry they are being depantried. if you

of the reasons we are doing better today, private payrolls support, bring energy names up a bit, halliburtonchevron and conoco phillips with the bears after being beaten down. earnings, supervalue earnings topped estimates and that is a winner of 1.5%. micron down 0.8%. positive comments making it a buy rating and the stock is up 16%. up 5% right now. you pay your auto insurance premium every month on the dot. you're like the poster child for paying on time. and then one day you tap the bumper of a station wagon. no big deal... until your insurance company jacks up your rates. you freak out. what good is having insurance if you get punished for using it? hey insurance companies, news flash. nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. see car insurance in a whole new light. liberty mutual insurance. stuart: when i say frigid i need frigid and bridges across the northeast and colt reject the wind chill. this is the snow that is expected to fall across the great lakes region today doesn't show very well it is extreme

chevron, schlumberger and halliburton. struggle to explain how important the decline in energy estimates for 2015 are in figuring out year all s&p numbers. on december 1st, analysts were expecting the s&p to have profit gains of almost 10% for 2015. today they're expecting 6.6%. that's more than a 3 percentage points drop in one month. that is it a very large decline. one of the largest i've ever sign. and i've been doing this a long time. so i asked s&p capital take out energy from this stipt and without energy numbers are up only 8%. this gives you an idea how huge the declines have been in energy.this gives you an idea how huge the declines have been in energy.only 8%. this gives you an idea how huge the declines have been in energy. defensive plays are doing a bit better today. consumer staples the only group on the up side of the s&p sectors today. also yeedield names doing well. at&t and verizon are trading up 5.5% and 4.7%. and just for laugh sake i put in the ten year treasury at 2.09%. and it's not surprising that

instead i look at schlumberger halliburton, baker hughes, deeply involved in the oil business and they did not complain about the price of oil as much as caterpillar did. >> yeah. >> not the only big component. microsoft shares down sharply after weaker than expected revenue guide 'for the quarter and fiscal second quarter in line with forecast. on the conference call the ceo spoke about some of the challenges the company faced in the second quarter. >> as expected the one time benefit of windows xp end of life pc refresh cycle has tailed off. additionally, ran into unexpected issues in select geographies. where there are execution issues, we will address them. where there are macro economic challenges we will weather them. >> jim, software up five new york where near the double digit. citi takes it to a sell. amy hood mentions the dollar moving to office 36 pa5. >> my charitable trust owns this. bad call. body language was like we're not that good. don't worry, we'll get better. in the meantime, when you have companies like adobe going to the cloud, they tell a good cloud story. satya

way higher for this morning at least for now are anadarko petroleum, marathon baker hughes and halliburtonion is whether or not they stay that way over the course of today's session. back over to you. >>> for more on the paris situation, let's bring in bob liscouski. welcome back to the program. clearly it's a difficult day in paris with these shooting. i believe 12 confirmed dead at the hands of machine guns and people reportedly running away shouting "allah." what is the reaction to what you know? >> good morning, simon. it certainly seems look a farley well planned attack. the attack started off, it must have had some pretty good operational, preoperational planning given the fact they understood when meetings were going to be taking place, when most of their targets would be present which apparently wasn't that frequently. they knew that the police protection was going to be there, based upon preoperational surveillance. it looks like a fairly well planned attack and as well as their ability to excoordinate with the getaway car. >> i am in no way condoning the murder of 12 people with

we saw halliburton lay off 1,000. conoco phillips is cutting spending by 20% this year. that's a big deal. talk about the research and development you want at amazon but the money big oil spends on investment, jobs rigs that's real money in the real economy and from a macro perspective, it's more than gas prices and consumer spending. a lot of fields in fracking they don't have the jobs there, north dakota hit, texas will be hit and we have seen that so my biggest concern of a macro perspective is energy investment to see dry up and a big sucking sound. >> is that why the 10-year hit 1.88 today and the 30-year below 2.50? what do you think that was all about? >> i think it's a culmination of lower inflation. we have energy adding to that. i think it's still a concern of flight to safety. the u.s. treasury's most attractive security in the world. so much uncertainty. i think that draws more buyers and keep levels very low even lower than we are today actually. >> do you think they are forecasting? when you see -- those are extremes right now relatively speaking the levels

>> they did last month, the halliburtons and rigs. you don't have to buy the bottom.very careful about catching the falling knife aenl it's human nature and you want to predict where the bottom is going to be and that's what i said earlier. the moves tend to last longer and particularly with commodities and may be downside on crude and when's interesting to me is heading to earnings to hear what the ceos say about the effect of crude with deflation. >> that would be interesting. thank you for joining us today. so here we go. first full trading week under way and with a big down note the dow down about 330 points. is this a beginning of a new trend lower or buying the dips tomorrow? wait until you see the panel that kelly has coming up right now. i'll see you tomorrow, kelly. >>> thank you, bill. welcome to "the closing bell," everybody. i'm kelly evans. the dow off 324 points. pretty equal declines in the dow and s&p 500. both off about 1.8%. s&p giving off 37 points. nasdaq down almost 74 today and a lot of other declines across internet space and like netflix and bi

the halliburton/baker hughes calls terrific. great technology plays.azing come been nation. the only one we've not talked about, the market's turned. unitedhealth reported a great quarter. goldman sachs upgraded that last week. picture perfect quarter. they can make more money next year. good play on employment growth. very clean quarter. >> up sharply. >> very clean quarter. terrific job by those guys. very good job for years now. >> yeah. so, quick 90 points down 90 points up. bob pisani's on the floor. bob. >> i've been standing here a few minutes. dow down more than 100 points and now it has turned positive. a strange morning. at the open weakness in defensive names. utility stocks consumer stocks telecom stocks weak. it's all turned around. from the very start we had a rally in energy stocks and the important thing is west texas intermediate stabilizes 45 47 it's roughly 47 today. put up energy stocks. more volatile names, den bury anadarko, sw energy you're getting 3% 4% moves right at the start. exexxon and chevron helping the dow. everybody's w

halliburton has already cut 1,000 workers and warns there could be more to come there as well. report next tuesday. oil and gas producers have been making cuts as well. apache slashing 250 jobs 5% of its workforce. also shell, suncor bp eog resources and enbridge have announced layoffs. industry experts think this is just the beginning. so the dallas fed estimates 140,000 jobs in texas alone will be lost this year due to lower oil prices and it's not just from energy companies either, kelly. u.s. steel laying off 750 workers at who tied leidled plants that made drill products including one in texas. >> thank you. now, my next guest says companies should ride out this drop in oil prices because oil will be back at $80 by the end of the year. joining us now is chrisl lefacas. what's the backstory here? were you long on oil, bullish on oil the whole time? >> thank you kelly. actually we were optimistic on oil prices. we were caught off-guard at the second half of 2014 like most economists. oil demand expectations fell by quite a bit. there was a lot more supply that came on than w

also, some earnings out from baker hughes and halliburton. numbers were good but cautious commentary from management on oil prices in 2015. price for a gallon of regular price according to aaa, $2.05. everybody is watching to see when that national average goes below $2. >> it's already happening in many states. by the way, one of our next guests say forget the current price of oil, it's the oil futures. those stand at $53 for december of this year, under $59 for december of '16. >> joining us why is john kingston director of news. thanks for joining us today. campbell, what do you see here? on the one hand you've got a guy like the prince who is one of the savviest investors who says we will never see $100 oil again. and then john hofmeister says we'll see 100 bucks by the end of the year. what are we to make of that and where do you see it going? >> what i think is way too much attention is put on the spot price. just a few minutes ago we heard $46. there's much more information in the market about the price of oil, and the logical place to

you run a big etf, oih, it's oil service names like halliburton and schlumberger.e a lot of interest? i get e-mails every day about should we buy these stocks now? >> any smart contrarian is looking at the energy patch right now. some of the smart crossover money is definitely coming into the space. for us we'd like to look at what the sectors are that have been hit the hardest. oil services and some of the exploration and production companies we think will survive this kind of mayhem. >> you don't like buying oil. you can buy oil as an etf. uso is the symbol these days. you don't like that. why do you advise people buy the energy stocks and not the oil itself? >> my biggest concern about playing commodities in the kind of etf world is the shape of the curve and we don't need to get into the details affects that and the way the shape of the curve is now it's costing you almost 2% a month to own, just own it. so if the price is flat you're down 20% over the next -- >> so you're rolling into the futures contracts an it's costing you money. the one sector you would ow