oil executives from exxonmobil to chevron to occidental petroleum to a whole bunch of other names.hey are among those invited to the discussion in the cabinet room. what we're going to do is bring you the video of that meeting and headlines from it as soon as we get them. in the meantime, we flip it over to the marks. -- markets. they may be sliding but tesla is rallying. the electric vehicle giant said it produced nearly 103,000 vehicles and delivered more than 88,000 during the first quarter. tesla whose stock is up 5% right now also said that model y production started in january and deliveries actually began during the month of march, and that is ahead of schedule. so tesla stock stands at $478.64. flip it over to autonation. it is stalling out after announcing it will be laying off some 7,000 employees after seeing year over year declines in sales of approximately 50% over just the last two weeks here, folks. that stock is down 3%. and the last two weeks, yeah, so bad that the employees will be placed on unpaid leave and there will be pay reductions for associates and higher-u

occidental petroleum. thank you for all your doing for us. >> dave hager. gas companyoil and out of oklahoma city. thank you for your leadership you are providing during this challenging time. you are the right man at the right time, and we are going to be back. pres. trump: we will get it done. >> greg garland, 66. thank you for your leadership through this process. all the work you have done on the stimulus package, the american economy -- improving lives. pres. trump: we think it will come back quickly. we have got the right packages. -- we areking at a looking seriously at an infrastructure package which is important for our country. we have 7 trillion plus in the middle east, for what reason? we don't put money into our own country. we are going to do a big package on infrastructure fairly soon. that is very important. it is great are you and everybody. mobile corporation. thank you for your leadership and i think all of our companies here align with your objectives to get the economy moving and make people lives around the world better. >> chairman of

occidental petroleum is down 8%. that was a $63 stock within the last 52 weeks. right now, it trades at just $12.54. marathon down 4%, just a $4.18 stock. if you look at the baskets of crude, the exchange traded funds, they have been caught in the tornado as well. no surprise there. u.s. oil fund, i believe that's the largest, down 7.6% to $3.89. the energy select spdr fund down 3.33%. oil and gas exploration, probably because you have natural gas in there modified just a bit, is trading up about .5%. which brings me to cabbot oil. if you are asking why would they be up, 3.5%, nice move there, well, it got a couple price target hikes today, possibly also the fact that it does have some exposure to natural gas versus just all crude oil. >>> we've got this breaking news. white house and congressional negotiators are reportedly inching closer and closer to a deal to replenish funding for the treasury's paycheck protection program, the loans that enable small businesses to pay their workers during the corona crisis. as you know, the treasury department's first instal

had exxon mobil continental resources chevron southern company alabama power conoco phillips occidental petroleum kind of morgan has corp group and a few others big ones great ones financial services where blacks stephen schwarzman paulson and company john paulson citadel ken griffin elliott management paul singer vista equity partners robert smith fidelity investments abigail johnson master card visa. sequoia stephens warren stephens great charles schwab chuck schwab. will be here i phone food and beverage national restaurant association mcdonald's darden restaurants coca-cola pepsi cola chick fil a subway lumen brands yum brands papa john's wendy's waffle house starbucks wolfgang puck thomas keller. my friend john george and danielle you know them from the transportation world fed ex fred smith the legend united airlines are skipper you know us u.p.s. david abney j.b. hunt why are sea world wide crowley maritime credible big powerful shippers and transportation companies in telecommunications we have the legendary john malone of liberty media verisign t. mobile charter communications and brian

i mention occidental petroleum. company is having to pay warren buffett in stock for the financing deal you opposed. that must make you boiling mad. and i'm not it going to belabor it anymore. the board has changed. i can't really freely speak about it. but i respectfully disagree a little bit with what you are saying. occidental has a lot of great assets. being that said, i can't argue with you that it was one of the most ridiculous deals that i've ever seen. but those days are over. we are working together. think, there are things where i think the shareholders will eventually be rewarded, i think. the risk reward is in your favor, i believe. romaine: we were just listening to carl icahn speaking earlier on bloomberg television. let's turn now to what has been going on in washington. almost $3 trillion in fiscal aid. willany trillions more come out of washington? emily wilkins is bloomberg government reporter, joining us to help walk us through this. let's start with the bill president trump signed. this is the bi

i mentioned occidental petroleum.any is so cash-strapped that it is having to pay warren buffett in stock essentially for the financing deal that you opposed. that must make you boiling mad. i am not going to belabor it anymore. the board has changed. i cannot really freely speak about it. i respectfully disagree a little bit with what you are saying, cash-strapped. i think occidental has a lot of great assets. can't argueaid, i with you. one of the most ridiculous deals i have ever seen. i have said that publicly. those days are over. we are now on board, we are working together. hopefully, i think, there are thegs we are -- i think shareholders will eventually be rewarded there, i think. the risk reward is in your favor, i believe. activist investor and chairman of icahn enterprises, carl icahn. to quote the man, you will never see that again in history. never say never. we are down 12%. that is quite an attack on wti this morning. goldman sachs says stores will be locked up in 3-4 weeks. we are at an inflection poi

i mentioned occidental petroleum. cash-strapped, it is paying warren buffett in stock effectively for the financing deal you opposed. that must make you mad. >> i have said it and i won't belabor it anymore. the board has changed. we have three people on the board. i can't speak about it really. i disagree a little bit with what you are saying, cash-strapped. i think occidental has a lot of great assets. being that said, i can't argue with you it was one of the most ridiculous deals i have ever seen. i said that publicly, but those days are over. we are now at ford. we are working together. hopefully, i think, there are things where i think the shareholders will eventually be rewarded their i think. there is rewards that you favor there. investor carl icahn in that exclusive interview. wetlands in the seafood supply chain. the founder and started -- of the start of australian two hands is talking about how he is avoiding the wet markets. this is bloomberg. ♪ haidi: we have controversy over the role went markets may ha

occidental petroleum has opted to pay warren buffett in shares rather than cats. -- rather than cash.s will be used to pay the dividends. berkshire hathaway is now owed. that went sour and occidental is trying to preserve its cash as a result. that is your latest bloomberg business flash. this is bloomberg. ♪ these days you need faster internet that does all you expect and way more. that's xfinity xfi. get powerful wifi coverage that leaves no room behind with xfi pods. and now xfi advanced security is free with the xfi gateway, giving you an added layer of network protection, so every device that's connected is protected. that's a $72 a year value. no one else offers this. faster speed, coverage, and free advanced security at an unbeatable value with xfinity xfi. can your internet do that? guy: i am guy johnson with vonnie quinn in new york. this is european close on bloomberg markets. over to taylor riggs. taylor: our stock of the hour is pbh leading the retail decline. the march sales data showed the worst tech line ever as the coronavirus cap shoppers inside. take a look at a one-

speculation that many energy sector companies will not survive this downturn, do you believe occidental petroleum will survive >> i saw that they issued stock to dividend to warren buffett. not in this form, i don't think they will survive, no. i'm jimmy chill now. i'm just going to say their recrennel acquisition was ill advised. if you want to know what companies are weathering the storm, look at the companies raising dividending. u.s. auto sales are expected to crater 80% this month compared with expectations before the pandemic what does that mean for carvana? i've got the ceo and covid-19 isn't invisible i'll tell you which stocks you should consider once we make it to the other side. and rapid fire in tonight's edition of "the lightning round. so stay with j and j and proctor and stay with cramer >>> you understand the scale of the damage of the lockdown what we need to hear from companies that are right in the blast zone, companies like carvana. these guys were using the web to disrupt the used car business. they let you buy a car online, free delivery with a seven-day return policy. when

do have crude oil falling at the moment, and the oil patch, look, it was already a mess but occidental petroleum is swooning after announcing that it is so desperate to preserve cash that it will pay warren buffett common stock instead of a $200 million cash dividend it owes buffett's company, berkshire hathaway. warren buffett's berkshire hathaway can sell the shares that it gets immediately, but it is not known just yet how berkshire will handle or whether it will go that route. occidental shares down 9.8% at $13.43. berkshire hathaway stock down 2%. >>> apple is releasing a cheaper iphone and it will be the, phone se. this in a move to appeal to now suddenly budget-conscious consumers. this as the coronavirus takes aim at the global economy and people are trying to preserve their own cash, forget occidental. apple will start taking orders friday with delivery expected april 24th. the price of this new discounted phone, $3,999. which us covered by the dow -- it should be $3,999, i believe. no? yes? it's $399. okay. $399. which is it, brad? not a $3,000 phone. all right. >>> a dismal day for re

energy front, exxonmobil, continental resources, chevron, alabama power, conoco, phillips, o occidental petroleum and a few others. financial services, blackstone, paulson and company, citadel, elliott management, vista partners, fidelity investments, mastercard, visa, chubb, sequoia, charles schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's, coca-cola, peps coa -- pep s pepsi cola, wolfgang puck, john george and danielle, you know them. chik-fil-a. transportation, fedex, united airlines, ups, yrc worldwide. maritime, powerful shippers. and telecommunication, liberty media, thank you all very much. health care, new york presbyterian, jerry spier, friend of mine. hcac health care, just met with sam. ascension health, trinity health, cardinal health, mckissen, 3m, thank you, mike roman, for helping us with face masks. worked out well for everybody. procter & gamble, abbott laboratories, johnson & johnson, merck, pfizer, ely lily, thermo fisher scientific, they've been helping us with testing. gilead sciences, regeneron, roche, roche has been

energy, occidental petroleum, the american petroleum institute, energy transfer partners, chevron, andxxon mobil. i informed them that we will be making space available in the strategic petroleum reserve to let american producers of shale oil that can be sealed at a later time. there's a tremendous abundance of oil, primarily because of the virus. the virus has stopped demand of everything, including oil. so, we are working with our great energy companies. these are great companies. they employ tens of thousands, hundreds of thousands of people. they have kept america really going for a long time. no big price hikes, no big anything. they kept it going and now they got hit. with all the jobs and all of the good they do, we are going to make sure they stay in good shape. america is engaged in a historic battle to safeguard the lives of our citizens, our future society. our greatest weapon is the discipline and determination of every citizen to stay at home and stay healthy for a long time. we want them to stay healthy for a long time. stay at home. this is ending. this will end. you wil

we have seen that in say like occidental petroleum earlier this week.emember, as an individual investor, those are probably more trading type opportunities. so don't leave it say hanging out in the wind too much with respect to some of that really speculative money because when that stuff does bounce for you, that's when you have to take profits and wait for it to rain again and then go back in when the sun comes out. charles: rob, real quick, what's our biggest risk right now as we head into the summer months and possibly a summer rally? >> yeah, i think the -- i'm out here in los angeles, and we're still very unclear when, you know, things are going to reopen back up. i think the biggest risk is that we stay closed for longer or even a larger risk is that we reopen and have to shut back down. i think that's what everyone's concerned about right now, charles. charles: scott, rob, guys, you're the best. appreciate it. have a great weekend. talk to you again real soon. meanwhile, folks, president trump signing another 484 billion dollars stimulus into th

vickie holub of occidental petroleum. mike summers of the american petroleum institute.ke wirth of chevron. and darren woods of exxonmobil. i informed them that we will be making space available in the strategic petroleum reserve to let american producers store surplus oil that can be sold at a later time. there is a tremendous abundance of oil, primarily because of the virus, the virus has just stopped demand of everything, including oil. so we're working with our great energy companies. these are great companies. they employee tens of thousands, hundreds of thousands of people. and they've kept america really going for a long time. and no big price hikes, no big anything. they've just kept it going. now they got hit. but with all the jobs and all of the good that they do, we're going to make sure that they stay in good shape. america is engaged in a historic battle to safeguard the lives of our citizens, our future society. our greatest weapon is the discipline and determination of every citizen to stay at home and stay healthy for a long time. we want them to stay hea

exxonmobil, continental resources, chevron, southern company, alabama power, conocophillips, occidental petroleum, kinder morgan, hess corporation, perot group and a few others, big ones, great ones. financial services, we have blackstone, stephen schwartzman. paulsen and company, john paulsen. citadel, ken griffin. elliot management, paul singer. vista equity partners, robert smith. fidelity investments abigail johnson. mastercard. visa. chubb. sequoia. stevens, warren stevens, great. charles schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's. darden restaurants. coca-cola. pepsi-cola. chick-fil-a, subway. bloom inbrands. yum brands. papa john's, starbucks, wolfgang puck. thomas kel lore. my friend john george, and danielle. you know them. from the transportation world, fedex, fred smith. a legend. united airlines, oscar munoz. ups, david abney. j.b. hunt. yrc worldwide. crowley. maritime. incredible, big, powerful shippers in transportation companies. telecommunications which have the legendary john malone of liberty media. verizon, t-mobi

nikki hollow of occidental petroleum, mike summers of the petroleum institute.rren of energy transfers, mike worth of chevron, and darren woods of exxonmobil. i informed them that we will be making space available in the strategic petroleum reserves to let american producers serve surplus oil that can be sold at a later time. there is a tremendous abundance of oil. primarily because of the virus, the virus has just stopped demand of everything including oil. so we are working with our great energy companies. these are great companies. they employed tens of thousands, hundreds of thousands of people, and they have kept america really going for a long time, and no big price hikes, no bake anything. they just kept going. and now they got hit. with all the jobs and all of the good that they do, we are going to make sure that they stay in good shape. america is engaged in a historic battle to safeguard the lives of our american citizens, our future society, the greatest weapon is the discipline and determination of every citizen to stay at home and stay healthy for a

energy harold hamm of continental resources jeff hildebrand of hill corp energy vicki hall of occidental petroleum mike summers of the american petroleum institute kelsey warren of energy transfer partners mike worth of chevron and darrin woods of exxon mobil i informed them that we will be making space available in the strategic petroleum reserve to let american produce a store surplus oil that can be sold at a later time there's a tremendous abundance of oil. primarily because of the virus the viruses just stop the demand of everything polluting oil so we're working with our great energy companies are great companies employ tens of thousands hundreds of thousands of people and they've kept america. really going for a long time and no big price hikes no big anything and they just kept it going and now they got it but with all the jobs and all of the good that they do we're going to make sure that they stay in good shape america is engaged in a historic battle to safeguard the lives of our citizens our future society our greatest weapon is the discipline and determination of every citizen to stay

exxonmobil, continental resource, chevron, southern company, alabama power, conocophillips, occidental petroleum, kinder morgan, perrot group. financial services blackstone, steven swarzman, paulson and company, john paulson. citadel, ken griffin; elliott management, paul singer; vista equity partners, robert smith; fidelity investments, abigail johnson; mastercard, visa, chubb, sequoia, stevens, great. charles schwab, chuck schwab will be here by phone. food and beverage, national restaurant association, mcdonald's, garden restaurants, coca-cola, pepsi-cola, chick-fil-a, subway, bloomin' brands, yum brarngsds papa john's wendy's, wolfgang puck, starbucks, thomas keller john george, my friend john george, and danielle. you know them. from the transportation world, fed ex, fred smith, united airlines, oscar munoz, ups, david abney, hunt, crowley, maritime, incredible big powerful shippers and transportation companies. in telecommunications, we have the legendary john malone of liberty media, verizon, t-mobile, charter communications, and brian roberts of comcast. thank you all very much. health c

energy, occidental petroleum, american petroleum institute, energy transfer partners, chevron, and exxon mobil. i informed them we will be --ing space available to met to let american producers store surplus oil that can be sold at a later time. there is a tremendous abundance of oil because of the virus. the virus has stopped demand of everything, including oil. we are working with our great energy companies. they employ tens of thousands, hundreds of thousands of people. they have kept america really going for a long time. no big price hikes. now they got hit. with all the jobs and the good that they do, we will make sure they stay in good shape. america is engaged in an historic battle to safeguard the lives of our citizens. weapon is the discipline and determination of every citizen to stay at home and stay healthy for a long time. we want them to stay healthy for a long time. stay at home. this will end. you will see some bad things and then you will see some really good things. it is not going to be too long. we will heal our citizens and we will care for our neighbors and we will

energy, vicki of occidental petroleum, mike summers of the american petroleum institute, energy transfer partners, chevron, and darren woods of exxon mobil. i informed them we will be making space available to let american producers store surplus oil that can be sold at a later time. there is a tremendous abundance of oil primarily because of the virus. the virus has just stopped demand of everything, including oil. so we are working with our great energy companies. these are great companies. they employ tens of thousands, hundreds of thousands of people. and they have kept america really going for a long time. and no big price hikes. no big anything. they have kept it going and now they got hit. with all the jobs and the good that they do, we are going to make sure they stay in good shape. america is engaged in a historic battle to safeguard the lives of our citizens, our future society. our greatest weapon is the discipline and determination of every citizen to stay at home and stay healthy for a long time. we want them to stay healthy for a long time. so stay at home. this is ending.

i mentioned occidental petroleum.ed they to pay warren buffett in stock for the financing deal that you opposed. that must make you boiling mad. -- and i saidsten it and i'm not going to belabor it anymore because we have three people on the board, i can't freely speak about it, so i respectfully disagree a little bit with what you are saying cash-strapped. in other words, i think occidental has a lot of great assets, ok? that being said, i can't argue with you that it was one of the most ridiculous deals i've ever seen and i've said that publicly, but those days are over. we are now on the board, working together and hopefully, i think that there were things -- i think the shareholders will eventually be rewarded, i think, so the risk reward is in your favor. i think. yvonne: that was investor carl icahn in our exclusive interview with erik schatzker. a testing of an online shopping portal days after entering multibillion-dollar agreement with facebook. let's get more with our asia credit reporter. whatsapp, playing

struggling occidental petroleum is starting a grassroots movement to get help for the oil industry. ceo encouraging employees to write to congress to ask for relief. a draft letter asks the government to help in the oil price war. that is your bloomberg business flash. alix: thanks so much. let's just take a moment ending about how nuts that is, that a ceo is going to ask employees to write letters to the congressman about the oil price war. rest of the market goes a little bit risk off area in crude prices in the u.s. are up by almost 8% to $27 a barrel, yet all analysts want up saying that no matter what cut anyone is going to agree on, you are not going to see any material reduction until may, which means april still sees a risk for a shortage of areas to store the oil, and the weaker that gets, the weaker oil price gets. we run out of storage, we run out of places to put it, oil prices go lower. still seeing some downside issues with that across from all analysts. in terms of what brings that to the table, an interesting dynamic playing out here. on the one hand, you're looking

a little bit of example of who's expected to be in the room, the heads of exxon, chevron, occidental petroleum representatives, too, just to give you a few. there of course has been a lot of focus on this saudi arabia/russia standoff and what that has done to oil prices. you talk about the comments made from vladimir putin as well. but that's only half of the story or part of the story, however you want to divvy it up. there has also been back here in the u.s. this cratering of demand for oil and for gas, because of everything that's been going on. i can tell you a conversation that i was having earlier today, that was brought up to me at the very beginning. yes, there's saudi arabia, russia and that whole dynamic but back here in the u.s., the demand is simply just not there. it's part as well of what larry kudlow told stuart varney earlier today when he was teeing up this 3:00 meeting at the white house later this afternoon. watch. >> well, look, in terms of the pandemic and the collapse in demand, there's nothing we can do right away. there may be some issues, smaller items that i'm going t

the head people at chevron, exxonmobil, occidental petroleum, continental resources, basically to give the president an update on where those in the oil industry stand. we know they are hurting right now. perhaps they will discuss some measures in which the government perhaps can try and help the industry. one of those perhaps being discussed is placing tariffs on all imports from saudi arabia. that could be one. also waiving that rule that means that when you transport goods from one u.s. port to another, it has to be on an american vessel. that includes oil. there may be a waiver of that rule. bottom line, they are going to tell the president we are -- obviously we cannot survive with oil prices at this level so interesting to see what comes out of that meeting and what, in fact, the government can do to help the oil companies get through this. stuart: and encourage the consumption of american oil by american utilities and consumers. that would really help the drillers and frackers in north dakota and texas. all right, ash. let's get to lauren. news on home depot. what are they up to