tjx is being prudent another way. >> tjx, the quarter was awful, really bad and it wasn't about the quarter. it's about what they're seeing going forward. some of them are up over last year which is kind of amazing, but they did talk about suspending their buyback and also cutting their dividend, and i think that a lot of companies should be doing that they get kind of a free pass to cutting their dividend and everyone and now if there's any question ask they should suspend the dividend if they're going to furlough employees which tjx did and they hope it's temporarily and it very well may be, thenpaying a dividend while furloughing employees might not be the best optics and this is a tremendous company and it was nowhere near its highs. unlike walmart and target which were near its highs which made the bar very high for earnings, they still traded off in the face of those very tough earnings this story is a little bit different. it is still below its highs and as steve said the other part of their business is what did they pay for their goods, and this is from heaven for them this may be t

hunt and value is what tjx means. >> the one variable i guess is trying on clothes. not only is it going to be prevented for a long time in a lot of places but nobody is going to want to do that does that matter to a tjx. do we just buy it and assume it fits >> the value they provide, you will just buy it and take it home return policies will be extended if it doesn't work in those stores that have open fitting room, they are going to put merchandize on a separate rack for 24 to 48 hours before it is put back in. in tj, you don't know what you are going to find. what you have now is mismatched merchandize where the buys are better brands and better values. don't forget with a lot of department stores closing, it continues to make more goods available to off pricers >> aside from walmart and target, what about a name like a deckers. i thought what in this environment could be good for the shoemaker. >> it is all about comfort and casual uggs, hoka which is their running shoe with their digital engagement and social media marketing, they are at the right place at the r

tjxs are going to continue to win. if you're thinkinging many terms of a special maybe j. crew i don't know i think niemann marcus is going to be a tough one. not sure you can pick the individual ones. i happen to like kohl's in terms because they're off the mall they have a good value based offering they've been battered. that's a company that should and can be. >> reporter: innovative. so that's an example of one if you're really going to gamble. >> and finally, any thoughts on the amazon kind of behemoth as much as i understand amazon is winning share right now, my personal experience has been frustrating with it and is why i'm doing the weekly trip to target for example could there be some surprising head winds maybe as the rest of retail catches up with the way that consumers want to shop these days >> i wouldn't bet against amazon i think they really offer a terrific offering their marketplace is superior. their features and functional l functionalalty are terrific. they're getting into the higher end fashion. trying to play with the designers. very hard to bet again

. >>> and retail names surging from tjx to l brands to bj's as they report sales better than feared. >> coming up on today's show, the view from the south. we will speak with atlanta fed president raphael bostic about how reopening is going in his district >>> plus, scott gottlieb has called antibody testing a game changer. we will speak with the head of quedel and we will ask how his company's rapid diagnostic measures are up to the traditional tests we talk so often about. as sarah said, lower 0.6% but off the sessions low mike santelli is tracking a volatile day for the market. joining us to discuss big money being spent in the race for a vaccine are chris meekins from raymond james and meg terrell as always mike, let's start with you. >> yes s&p 500 pausing right below levels everybody is walking, 3,000 on the upside, right around the 200-day average look at a one-year chart of the s&p, we spent most of last summer in this relatively narrow defined range between 2,800 and a little over 3,000. so it is familiar territory. i don't think necessarily it means market stops in its trac

tjx, they missed on their earnings but sales were well above expectations comps were positive in the reopen stores. that stock is trading up about 7% energy is doing well again tech sup, industrials, banks have even moved into positive territory. this broadening out of the market that i keep talking about is happening again today you look at the s&p 500, we're approaching 3,000. believe it or not, that's about the 200-day moving average we haven't been above the 200-day moving average since early march. we're getting close on that. breadth has been improving, volatility has been declining. credit is expanding. oceans of liquidity. is it too overpriced or undervalued. that's a legitimate question, but remember what's moving the market it's not crazy why the market is advancing. we're reopening, all 50 states right now. we saw the fed's backstop is very real. even though there's some fiscal gridlock in washington but powell is very active. treatment for vaccine hopes are there. and new cases are declining. and there's a legitimate question about the valuation, whether we're overvalues

tjx. >> guy adami >> if my internal clock is correct there are 15 seconds left in the show, and i missed my popeye's taste test that was a lot o >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain you, but to educate, teach you so call me at 1-800-743-cnbc or tweet me at jim cramer. >>> was today's pullback all about profit taking? or was it the real economy rearing its increasingly ugly head every day that the average goes down, the dow slipped 102 points, s&p shed 7 p.8%, are we having great depression style unemployment 38 million jobless claims or another garden variety sell off in the wake of another major rally? i'll give you a hint it's not the economy driving the bus. i know the market's incredible rebound the last two months seems totally out of sync with what's happen

nonessential but tjx is opening up all around country now. with so many department stores going under, they'll be able to snap all sorts of merchandise for nothing. imagine going to get a neiman suit for like $40. right now, they got a lot of carcasses to pick clean. i think it's a buy i miss shopping there, by the way. i'm not downtown anymore then, there's best buy i expect good things how many electronic stores were deemed essential when i talk about how there is only a handful of chains left after the pandemic, i'm betting best buy is one of the survivors. could be up 8. unless somehow they give you a bad call next one is very tricky one. medtronic. so many surgeries are being postponed so this might not be their quarter. causing a healthcare bear market i'm concerned though i'm optimistic but i do worry because they're conservative, they say that what they have is a lot of covid stockpiling and now that's past, business might not be as strong that would be suboptimal and splunk and shopify. it's got the best data center chips, and also n

tjx earnings out as well. they are reopening stores. reopening by june, but what does that look like if we survive this crisis? joining me is a man who has a lot of experience in the retail world, gerald storch, storch advisors ceo. the main headline has been j.c. penney, j. crew, neiman all filing for bankruptcy. how many more do you think we see until we recover? gerald: the answer is a lot. people are not buying clothing. you don't need to get dressed up when you are not leaving the house. it has been trouble for a decade for apparel, as people have shifted spending two more hard-line electronics, things like that. and the malls have been suffering mightily. the apartment stores suffering. so what we see here is just an exacerbation of those long-standing trends. so while the coronavirus is a force for consolidation in every industry, where the strongest retailing, itand is especially bad for smaller companies. the ones that were winning before are the ones that tend to sell the necessities. walmart, costco, target, best buy, home de

if they are, what are they buying analysts still like some of these off price names like a tjx or ross stores and think they could continue to be a beneficiary of consumers doing a trade down if they are feeling more constrained they might even be inventory beneficiaries. what is interesting that in general, they have a small on line e commerce experience during the quarter, they actually shut it down entirely there is a lot to watch with retailers this week. courtney reagan cnbc >> joining us now to weigh in with more insights stacey, thank you for joining us let's kick off with walmart. the next step in terms of the reporters. given the majority of the u.s. walmart has about 50% of its offerings. this should be pretty good quarter for walmart from a revenue perspective, right >> absolutely. the ones pfocused on here, those are spiking with 50% exposure to the grocery space. the big problem target has talked about is that this big shift is lower margin. it is not necessarily a profitable mix shift as other stores start to reopen, nonessential stores, what does consumer behavior look l

tjx has said, we'll give you pennies on the dollar and turn around and sell that at a pretty good marginhere they are a winner in this space. >> i have to imagine there is one upside for apparel this multimillion used clothes industry things like the real real. what will happen to that industry, stacey >> that's a big question mark here if you think about anything, i call the intimate purchase apparel or handbags, all you think about is germs those business models will definitely be under pressure you think about going into a store and trying on new clothes. some brands are not even allowing people to try on clothes in the store others are putting clothes in the back room for 48 hours, i don't know, to shake off the germs. you think about that and the message and the second-hand market that's just a nonstarter i think for many consumers right now >> tough time for that industry right now. we are watching tj maxx. best to you and the family >>> the harsh reality facing hospitality, the owner of the legendary restaurants in south carolina and across the south will join us with tough decisi

. >> we are talking retail, the stock of the hour is tjx.er by about 5% and is actually at its highest in a two months after its first-quarter results. the results were not pretty, but we knew that they were not going to be pretty given that stores were closed for approximately half of the quarter. still, they reported a loss per share greater than estimated of $.74. the good news is the company has already reopened about 1600 stores and expects most locations to be open again by late june. of stores that have already restarted operations, they received strong initial sales overall. and analysts pointed out that commentary indicates demand rebound is ahead of expectations. the company says it is seeing a lot of flexible opportunities due to the current retail environment which is putting a lot of pressure on the luxury sector in particular. t.j. maxx really operates on that shopping experience. their ceo said he is confident in having excellent quality merchandise available and analysts think that the drive sales in the longer term. of cours

tjx has unprecedented hold for the supplies. amanda: we heard the u.s.is frontloaded and they would make these many clips happen after july. do you think retailers are prepared for that? there may be a burst of spending followed by a dry patch? camilla: it really is going to depend on the industry you are in. for example, best buy is also reporting tomorrow and from the analysis we did electronics and appliance stores are faring callr and what we like the the age of covid-19. longer term, when these orders are lifted, and analysis we found was that consumer electronics witnessed steady growth over the past two decades including times of economic slow down. that goes against the conventional wisdom that industry is discretionary, voluntary, or cyclical. shery: we are finding that despite all the challenges posed by the pandemic most of these retailers saw a huge boost in online sales. how important will this be going forward and who is the winner when you're taking a look at digital volumes being available to consumers? robust: best buy has online channel

a bit of a mixed picture today. .ne bright spot is tjx it is worth noting these are markets that on theys are continuing to power higher. the s&p 500 nears the 3000 mark, basically erasing the covid-19-related losses the market has seen. back to where we were in february. is that justified based on where we stand with the economic outlook? i want to welcome robert brown. markets may be a little bit overly enthusiastic. they may have run ahead of the fundamentals. robert: that is our view. took somet meeting we money off the table for that very reason. we don't think it is an unreasonable case that has the economy starts to reopen in the wake of the fiscal stimulus people start to think about the economic recovery. it's a situation of things getting better as opposed to the environment being good. is prettynvironment much discounted at these current levels. it remains to be seen if the discounting will turn out to be correct. it made sense for us to get back to a neutral position after we had been slightly overweight. shery: i keep hearing there is a disconnect between market performance

we are starting to see that happen tjx, burlington and ross stores reopen their numbers have come out quite a bit better from where we saw in the malls mall based restalers came back outside of the malls came back 85%. williams sonoma. they are mall based but also 60% on line. i think they are going to have an advantage people like them selling for people to do things around the home. that includes patio and garden, inside your house, furniture, decor and all of that will happen as well as we continue to see people build up their offices. i do like those sectors better and mall based sectors less. however, on your survivor point, kohls will survive macy's will survive and nordstroms will survive and be with us on the other side. anybody else in that space, we are not so sure. we know neimans has already filed, pennies has already filed. j. crew already filed. we'll see reductions there >> we had an analyst on yesterday who said something i never thought about. which is this, when stores are closed -- even if you file for bankruptcy, you can still go on. but actually shutting down a st

. >>> for shoppers, department stores are reopening and talking about reopening, tjx, the parent company of tj marshall's and home goods will have the stores back open by the end of june, the company says that sales at the stores have already reopened our up, compared to the same time last year and they say that discount shopping is on the rise since the pandemic. >>> netflix will cancel inactive accounts, they say they will contact people who have not used the service in the past year to see if they would like to continue to pay the monthly fee. if they do not answer, netflix will cancel their accounts. they don't want people to pay for something they are not using, the inactive account represents less than one percent of the customers. >>> amazon prime day has been pushed back to the fall due to the pandemic, and the second delay in two months, amazon started their july sale in 2015 as a way to reward members of their paid amazon prime subscription. now it is being pushed back until september. the 48 hour sale was the largest shopping event and amazon history. it surpassed the previous

a lot of them are doing well i thought tjx mixed their earnings the sales were above expectations a will the of these other stocks having very good days overall. people say how can you say that? we're in terrible shape. this is what i see i see volatility declining i secret expanding all over the place. there's oceans of liquidity. all sorts of new corporate debt offerings out there. the market multiple is expanding. some people think that is worrisome but the trend for the market, unquestionably is up guys, back to you. >> bob, thanks very much now for the view from the bond market let's go out to chicago and rick >> you know, the long maturities have been envogue lately. many including myself think a good sign of the economy, improving as we get past the coronavirus will be equities firm but rates moving up not aggressively but moving up open the chart up to march 1st, you can see it there was 99 basis points open a chart up to january 2018. if you look at total return, ubs is getting some excitement with their research today we all kind noknow it. it's 60% your total return on interes

vonnie: i do want to ask very briefly, you have a lot of retailers in there like dollar general, tjx,ome of the lower-priced retailers. do they thrive in an environment when people's wallets are cash-strapped? yana: i think there will always be a place for specialty retail. we are in a world right now where usually, the leading indicator to us is earnings stream. we are just at the later stages of earnings reports, and we will see a lot more from retailers next week, but i think you will see pockets of strength where those that are providing the omni-channel or double ways of -- or multiple ways of grabbing the consumer through online or isk up curbside, whatever it , the convenience aspect of it will remain in demand. so i think there is a place for it, and the retail again is not just food and clothing. it also happens to be within the auto space and other areas of the market where there's less of a condition every span. vonnie: thank you for your time today. yana barton of eaton vance joining us there. this is bloomberg. ♪ ♪ vonnie: live from new york, i'm vonnie quinn. this is the

tjx says it's seeing very strong sales i sales as its stores reopen macy's says sales are better thannticipated they're getting better, even though they're still about 50% of what they had seen before with the crisis. back to you. >> thanks so much for that mike, interestingly, if we look at the week to date performance, it's consumer staples that is suffering relative to consumer discretiona discretionary, which is up 4%. might not be what you would expect from these earnings this week >> right i mean based on the numbers we got reported, that's for sure, but it does reflect more of a kind of cyclical bent to the market i mean at least around the margin that's been the direction that the flows have been and you know i look at tjx against burlington, ross stores, you know somewhat different stories but in the same general category on a year to date basis both on the way down and up, they've really tracked one another so it's clear investor's view of these chains and prospects hasn't really been altered in a dramatic way over the longer term a mountainer matter of how sooe a normal sho

it's not realistic what about you on a day where starbucks says sells are rebounding tjx says they are encouraged about the strong sales they have been seeing in the ropings they have been having >> when we start the reopening, what is the trajectory what is the growth rate of the consumer is going to be. you have the lows and all the others that have come back a lot of them have reflected the consumer coming back the question is will this be sustained? will we have two steps forward, one step back? we don't flow the it's too early to say if you're looking at the sectors around, the five stocks of the s&p that are carrying the wei t weight, we really haven't had the breadth. i wouldn't chase it at these levels it's so wide at this point. >> what about the ones that have been left behind we don't necessarily have to say it's either you buy fang or nothing. what about the banks they said these are too attra attractive to leave behind and focus on these small sectors that we talk about every single day. >> i agree with you. it's hurt us all through this year i added a few weeks ago. i hav

tjx are opening doors at over 100% productivity.there's pent up demand out there and there's stimulus there's also the sense of getting back out and reinvigorating at brick and mortar we're in the seeing a slow down so far there's going to be changes in the department stores. before the pandemic, the department stores, different parts of brick and mortar were under consolidation. we thought it have probably a 5 to 7 year material shake out, particularly mall based brick and mortar that's also accelerated and probably now maybe two to three year type of a consolidation you're going to see a bifercation that accelerates out of this. off prices, bhengsed and discounters could emerge stronger as value and convenience are really king. >> it's fascinating to see lululemon is up 20% this year. this stock just kept performing. the demand has been stronger than anticipated >> i think that's a good point with lululemon the winners we saw before are continuing to win. the losers are going to continue to lose. the stores that were starting to r

price players, they're big, too big lots store, those have been among the names that have been open tjxnot been open the digital platform also closed and that name reports next week, but tjx shares higher by 5% along with big lots today and at the higher end, canada goose tapestry, capri holdings, those are lower as well as vf corp back over to you >> charlie, is retail one of the sec r tors where the changes of f the last couple of months might last forever >> yeah, thanks. there are three categories we talk about all the time. companies that are doing as well or better. there are companies that have temporary problems that are going to come back fine then there are companies that are going to be challenged and most of those were already challenged we think airlines and retailers are the big ones that you've got to be very careful here. these companies weren't doing great before this happened, unfortunately many smaller retailers, boutiques, the upper west side of new york has had a lot of retailers before this close that just may never come back >> mike, a lot of trading focused in on

. >> pete, walmart, target next week along with tjx. >> pretty excited about all those. i own calls in walmart i own stock in target. in terms of target and walmart, they have been knocking it out of the park for a long time. every time we go over there, parking lots are packed. people are coming in and going through and picking up if he gets close to the stickiness he's talking about, i think they will be able to put up some monster quarters >> what about best buy >> i love the name i think they do an outstanding job. it's difficult of an environment for them right now. i think all of that will feed into best buy in the future. people are spending out the experience online has turned tout be something much better than they maybe even expected. i look at best buy i think it's really -- i still think it's an inexpensive stock despite the fact it's made a run up of 20%. >> josh brown, you have a thought. >> i look at best buy a little bit differently which is i think people are looking for it but they are also looking back and they know how much money they made as we did t

dollar stores and those retailers you mentioned that are off price big question, really, related to tjxnow, burlington is are you going to get back to a world where you want to go in and treasure hunt and wait in a twisting line at t.j. maxx and buy stuff off the shelf near the checkout those are the questions, not so much the character of the consumer going into this i think it's logical i just don't know if there's much of an edge at this point to know exactly what the nature of this consumer comeback, if we get one, is going to look like >> the question is can they reopen tjx does well or did well during the last recession >> yeah. >> the question is they don't have an online presence so they just need -- >> can you reopen, but much more than other retailers, they rely on people kind of being there. they talk about a treasure hunt, about the serendipity. that's a difference r different experience than curbside pickup at target. >> right you can socially distance i think at t.j. maxx you just have to dig deep. let's hit the cruise lines cruise stocks under a will the of pressure today

. >> pete najarian >> netflix >> jim, you have a quicky for me >> tjx >> awesome having you. thank you, everybody kelly evans picks up the breaking news coverage right now. >>> masterful how he squeezes all that in. scott, thank you hi, everybody. fed chair powell said the path ahead is highly uncertain. stocks are sharply lower as wall street starting to fear we need a new symbol to explain the new economic reality we are about to face plus the global supply chain in tatters in the wake of covid-19 and news that at least one major university on the east coast is hoping to have students on the campus in the fall as the nation's largest college system is doing the opposite. we start with the selloff. dom? >> we are hovering just near the lows of the day so far as you can see, all around close to 2% below where they were just at the close yesterday the dow industrials to the downside the s&p, 2950 level, 4% below where we have been in the last couple of days watch that level seems to be near term resistance or slowing momentum in the markets around those levels. heat map is all

so this is a retailer i've had my eye on for two years and it's too expensive and that's tjx bought itnd at the moment it's not the best place to be although they'll get them for cheap this year. that's for sure, and in the longer term the business will bounce back? guy adami, you know what song i really wish we could play right now? ♪ highway to the danger >> final trade, guy adami. >> i can't wait for "top gun maverick" to come out and my sense is this horrific song will make its way into it and i'll watch it despite that fact netflix, look at tha >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now >>> hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain you, but to educate, teach call me 1-800-743-cnbc tweet me @jimcramer. >>> you can always tell when we're due for on

we like tjx, for example, charles, they've held that one through this pullback and added to it at pointse i think when you look at just this pullback that we had in march and certainly the bounceback that we had in april and so far in may, those are areas where when you see companies start to fall behind like financials, for example, today, those are places where we'd start looking to put money in, as the catch-up trade starts to take place. charles: rob, you got defensive as well. now, you went into oil during the mix of that sort of free fall, but i've got to tell you, chevron outperforming exxonmobil and starting to come on pretty good there. are you going to look to expand your portfolio? >> you had to bring that one up; right, charles? we took a bit of pain on that. charles: you know what? i'm with you, brother. it is going to be a winner. we will brag about it one day. [laughter] >> you know what? right there if you looked at the last earnings conference with chevron, they are very committed to the dividend at almost 6% when you have a 60 basis point ten year i think that's attract

retail having a good day i like reading tjx's report. this is the t.j. maxx. but sales were a lot better than expected and some of their overall sales, their comp store sales actually were a lot better than people anticipated. move up there and we'll see ross we'll get that after the bell. ross stores. >> and coastkohl's we bounding o after its earnings report. let's get to the latest. those stunning numbers in the housing report today existing home sales in april dropping to the lowest point in ten years, nearly, as the market got a one-two punch from inventories and prices let's get to diana olick with all of the details for us. diana? >> yeah, kelly clothes sales fell nearly 18% for the month. and believe it or not, that was a little better than expected. the bigger shock was supply, which was already really weak before the pandemic, but fell nearly 20% annually to the lowest april reading ever, as current sellers pulled their listings and very few new sellers entered the market even though mortgage rates jumped in march when most of these contracts were si

. >> pete najarian >> netflix >> jim, you have a quicky for me >> tjx >> awesome having you. thank you, everybody kelly evans picks up the breaking news coverage right now. >>> masterful how he squeezes all that in. scott, thank you hi, everybody. fed chair powell said the path ahead is highly uncertain. stocks are sharply lower as wall street starting to fear we need a new symbol to explain the new economic reality we are about to face plus the global supply chain in tatters in the wake of covid-19 and news that at least one major university on the east coast is hoping to have students on t

. >> tjx has an okay online. burlington will come back with a vengeance. the dollar tree -- you guys had philbin. david, is your dollar tree as good as mine i got these -- these were part of a package you can get five for $5! if you don't like them -- big deal try doing that with ray-bans >> i'm not going to. >> guys, we have been tracking this performance-based payout for elon musk at tesla it does seem now according to the proxy statement that elon that earned the first tranche, this is for options that would allow for the purchase of 1.7 million shares at 350, worth just shy of 800 million. so, this is for keeping the company's market cap at 100 billion or more on a 30-day and six-month moving average >> stock is up 93% for the year. it's incredible, the shorts were coming in saying, jimmy chill, have you seen there's actually -- i think there's discounts. there's discounts. i was saying, oh, stop bothering me it's elon musk it's technology. don't hit me with these discounts. and obviously others agree it continues to go higher. only 11% short would hav

but if they say that the people are buying apparel there, and tjx, another one to watch, that stock is down. stupid bag of hammers. that company is going to have a pretty interesting situation today, by the way, the recession trade is on. maybe someone is looking at this one out of four people and comparing it to, say, 1931 i'm busy trying to reconcile, but of course, obviously, what we have now is a safety net, and 1931, the banks all go 1932, banking holiday. 1933, we figure out that we need a bunch of programs to put people to work versus unemployment insurance and jay powell printing money. but today is day where we're seeing the new caterpillars battle the proctor & gambles, and i have to tell you, my money is on the proctors >> if a week ago, or eight trading days ago, i would say go long wells fargo and short peloton, i'm not sure you would have done that >> that would have been the most stupid thing in the world, and also correct >> yes, and also correct wells fargo, we were watching that stock it had a 9%, 9 plus percent yield, now it's down to 7.2%, given the move up in price

maria: all right, we will leave it there, we are waiting on best buy, tjx, we will bring the numbers as soon as they hit the tape. another window of what's going on. we are just getting started, florida congressman and retired army lieutenant michael wolff is here on the senate vote to delist chinese companies or force them to follow u.s. law and former atlanta federal reserve president denise lockhart joining us on markets an initial jobless claims, you don't want to miss that, at 8:00 a.m. hour, harvard law professor alan dershowitz on michael cohen's release from prison and then money water's capital founder carson block on his new short position, another chinese company that he says is a proud, don't miss that and the head of xbox gaming, phil spencer reaching new heights during shutdown, don't miss a moment. big 3 hours coming up. former congressman darrell issa, that's all right here coming up and the lawsuit drops, tesla's chief elon musk dropping his case against the california county over his plant shutdown, plant is opening up next steps ahead, stay with us. can my side be

names like home depot, target, lowe's, tjx all set to report tomorrow at 6:00 a.m. eastern time across america, business owners are figuring things out. finding new ways to serve customers... connect employees... and work with partners. comcast business is right there with you. with a network that helps give you speed, reliability and security. and enough bandwidth to handle all your connected devices. voice solutions like remote call forwarding and readable voicemail. and safe, convenient installation. when every connection counts, you can count on us. get the connectivity your business needs. call today. comcast business. >>> welcome back, everybody. in his latest op-ed, former fda commissioner dr. gottlieb focused on the cdc he says the agency needs to streamline and publish clinical date to to help doctors on the front lines. dr. gottlieb joins us and he'sst also a cnbc contributor. thanks for being with us this morning. >> thanks. >> let's talk a little about this op-ed i think it's unusual for you to be so pointed in criticism of one of the other agencies beca

macy's, department store, best buy electronics, tjx, they own home goods and marshall's.res typically have large crowds that come to the stores. it's discounted home furnishings and other items. bj's, are you still buying in bulk? and finally packaged foods and meats at hormel foods. wide range of companies reporting tomorrow. stuart: very important stuff. lauren, tell me about pier 1. i think they are going out completely, is that right? lauren: that is correct. they are in liquidation mode and this list joins them in chapter 11 bankruptcy. jc penney, j. crew, neiman marcus, stage doors, they do operate some department stores, true religion, aldo group, john varvatos. the list continues to grow. bottom line is where are we going to shop when all is said and done? you can't do everything by looking at something on a screen on your phone or computer. you do need to go to the store. what stores are going to be left? stuart: that's a fair point but the ones on your screen, out. very interesting. now, i think this is the most important story of the morning for the market, tha

tjx which owns marshall's and home goods and tj maxx, shut down their online operation in the quarterhey made a gamble saying that you know what, when people return to the stores, they are going to want to go through all of our items and find the best bargain. they said that for the stores that have opened, one week in, they are doing phenomenal. that stock is up 8.2%. finally, l brands, this is not good news, but the stock is responding positively to the fact the struggling owner of victoria's secret is closing 250 victoria secret stores in north america and 50 bath & body works in north america. bath & body is the stronger part of the chain, soap, hand sanitizer. you see how that's more popular now. stuart: i like that tj maxx gamble, shut down the online. lauren: you think it's going to work? stuart: look, the stock is up 8%. for a retailer in this day and age, that ain't bad. looks like it's worked. that's what i've got to say. >>> how about expedia? susan, revenue down, that was to be expected. any bright spot in expedia? susan: yes. there are obviously bright spots. like a lot o

in tjx's case, that's bargain hunt. treasure hunt. on the prowl more than ever now for a discount. secondly, some of the online orders have turned back on but the company says everyone else is relying on online right now. we're not. online will be complementary to our physical store presence. stuart: we like the sound of that. thanks very much. now, one of the big problems about reopening is liability protection. businesses at this moment don't have it. suzanne clark is with us, president of the u.s. chamber of commerce. suzanne, this is an absolute must. if you want to reopen this economy, you've got to protect the business owners from the lawyers. can you do it? i know you want to do it but can you do it? >> absolutely. i think first of all, thanks for having me on. thanks for shining a spotlight on this important issue. i think that the government leaders are really starting to understand how important this is to jump-starting the economy and there's precedent for it. we saw it after y2k, after 9/11, where congress came together in a bipartisan way to provide liability protectio