wilf a wilf and sara? >> is this the most concerned we've seen him in months and did we get any updates on vaccines >> yeah. well, you know, he's always been concerned but clearly calling out those specific states. in terms of vaccines, you know, he used the same cautiously optimistic language he's been using. he was quoted as saying it's a matter of when not if. he said there is no guarantee we'll get a vaccine. he did say he is encouraged by the early data he's been seeing on the vaccines. reiterated the time line of potentially by the end of this year, early 2021 for getting the first access to those. >> meg terrell, thank you. >> watching airlines, another choppy session for that group. head lined by a drop from american phil lebeau has the latest phil >> and part of the reason why american shares are under pressure is because the capital raise that they announced yesterday, one of those -- two of those components they increased so they're raising nearly $2 billion. that's when they did and have done i

wilf and sara, back to you >>> coty took a $600 million stik in kylie jenner's cosmetics brand and nowhey may be doubling down on the kardashian family rahel solomon has the story. >> like deja vu today when we learned coty may be talking to kim kardashian west about a potential collaboration. that 2019 deal you mentioned with kylie jenner, that grabbed quite a few headlines, many touting jenner as a billionaire. now just last week, forbes publishing an explosive piece essentially walking back the valuation of jenner's wealth, and yet investors seem to like the idea of coty teaming up with kylie jenner's older and perhaps more famous sister, kim, depending on which metric you use. chair shares climbing more than 12% in today's trading coty not saying a ton about this potential collaboration. we know that kardashian west sells her products online and in alta stores and this could be a big move for coty, which has seen consumers shift their behavior in the store-related closures with target down, walmart shut down, so we'll see how this works out for coty. sara >> what's interesting is t

>> one thing i say, wilf, i believe it is a different dynamic today than what we had in 2008 and 2009el of engagement between banks and regulators are those that supervise own those that are being supervised is much morrow bust an much more constructive now than it was ten years ago. you know, we're in contact daily with the bank of england, vra, sca and very, very frequently with the fed and with the ecb. i think there is a great exchange of data and information obviously, the pra and bank of indy and the recommendation or a strong suggestion to the banks about a 2019 dividends so we did spend that we went into this year with the highest level of capitalization, capital risk assets in the history of barclay's i think there is a real desire to be cautious and prudent until we get greater clarity of the contraction. i do think that banks are in a much better position i think there will be revenue headwinds. we waived banking fees and i think on the profitability of many the consumer banks spending was down dramatically but hopefully the system recovers and i do believer the banks went

oracle numbers are out josh has them for us >> that's right, wilf.street is closer to $1.15. revenue is lighter than expectsed. cloud services and license support, that comes in at $6.85 billion. that is a bit lighter than what analysts are looking for that includes cloud revenue and maintenance fees cloud license and on premise license, that's also a bit lighter. the pandemic results would have been harder in the hardest hit industries as they serve hospitality, retail and transportation she says postponing the purchases heading into this print, the stock is on a decent run. still underperforming the broader tech sector. this kicks off at 5:00 p.m. eastern and we'll be back on it. >> josh, thank you very much for that steve, you said you're heavy into tech. is oracle one of them? >> no, they didn't need a pandemic to miss they're a serial misaser. the stock is not where it was even though the big recovery and before covid-19 it was down from 2019 high. i'm in more growth companies that are less tied to gdp. as i mentioned, the cloud, 5-g, that's whe

wilf >> time for a cnbc news update with sue herera.. >> hello, everyone here's what's happening. the former atlanta police officer who was accused of fatally shooting rashard brooks has been granted bond. he will be released ahead of his murder trial if he posts a $500,000 bond. >>> democratic presidential candidate, joe biden, slamming president trump for quote, surrendering to the coronavirus. biden also had harsh criticisms for trump's are response to intelligence briefings that russia had offered bounty for the killings of american soldiers >> so the idea that somehow he didn't know or isn't being briefed is a dereliction of duty if that's the case and if he was briefed and there was nothing done, that's a dir election of duty >> and massachusetts is telling travelers from most states to self-quarantine. only seven northeasten states are exempt you can go to cnbc.com on the latest on quarantine requirements across the country and there are a lot of them. back to you. >> there certainly are, sue. thank you. up next, workers in las v

. >> wow, wilf, what a day for boeing and the airlines.hen you look at these stock, they were off to the races from the get go in terms of boeing, it's now above $200 share first time been at that level since march. the shares up 43% in the last week and it's not just boeing. it's also airbus and on a day when airbus reports zero, zero new orders for the month of may, well, the adrs moved higher. usually does generally in tandem with boeing. as for the airline stocks, american, delta and united, they soared on hopes that passenger levels as they continue to move higher, business will get better and this carried over to the rest of the airline stocks as well they're all having a similar day. keep in mind however, passenger level guy, still down. 85 to 86% compared to the same time last year >> and phil, they'll be making lot of layoffs still in september. >> yeah. that's the expectation at this point. unless we see a huge snap back in terms of travel demand. we're just not seeing that yet t going to keep increasing but not to the levels we

operators are burning cash as much as $650 million a month for carnival don't be surprised, sara and wilf if the grucruise lines go k to the debt market to raise more money. they already raise the $6.6 billion in debt and equity. now they're in the zero revenue environment for a considerable amount of time back to you. >> yeah. well, luckily for them, the debt market has been wide open. thanks to the fed. thank you. >>> amc reversing its earlier decision to not require customers to wear masks. previously saying, "we did not want to be drawn into a political controversy. the movie theater operator plans to reopen on july 15th with about 450 locations. this comes as we're seeing cases rising in states like arizona which saw a new single day record of more than 3200 cases joining us now is former fda commissioner and cnbc contributor, scott gottlieb. he also sits on the boards of pfizer and ilumina first on the masks, why aren't all governors just requiring masks in all states at this point? >> well, they should be. i think they will. there is not much that we can do if we're not going to do

wilf is hopeless the hopeless millennial.asn't seen any of these important movies andrew. >> i don't know, do you? >> we're going to talk about what wilf was just talking about, not the movies but the banks. for more on the banks and what it may look like post covid, j.c. flowers, chris flowers. good morning, chris. you lived through the financial crisis of 2008 and 9 you've been through the middle of this. you often talk about a crisis as an opportunity i want to talk about that to the extent we can. is there an opportunity amid this crisis and pandemic that we're living in when it comes to the banks? >> sure there is there are going to be good opportunities where banks need extra capital and it will be profitable to put it into those banks. >> tell us what that looks like. what banks and will there be funts for not firms like yours but investors to try to make this a positive outcome? >> the trick is which nobody knows, how long is this going to last and what are the government programs going to be which support borrowers a

josh >> so wilf, broadcom's reporting q2 $5.14 revenue, 5.74 billion. last year at 5.69 billion.ey provide quarterly guidance here. q3, they're looking for revenue of 5.75 billion. plus or minus 150 billion. in terms of their segments, semiconductor solutions, 4.03 billion. that's wireless communications storage and industrial other big segment is infrastructure software. 1.7 billion. that's in line with what analysts were looking for. mostly enterprise. that stock had rallied up hard about 100% since its march low gl steph, where do you stand on this one >> i own it, actually. i still think it's a really good value. at 14 times with a 4.25% yield what i want to hear and see is just the free cash flow because they're levered at three times or at least at the end of last quarter, that's where they're at so i want to see what the free cash flow is i think expectation is fairly realistic because they have a good piece of the business in data terror, networking and infrastructure the wireless obviously is struggling and they had supply chain issues, too, but i like a lot of their bus

it's the number one item on my case right now, wilf you take a look at how the market does react, ase short on any kind of market moving news, now we start head longing into earnings season in a couple weeks while we're already figuring that second quarter earnings will be poor, it's going to be the earnings call that's are going to be the most important probl probably more important than they ever have been. it is really around the pandemic we saw georgia and florida and texas and some of the sunbelt states, you know, start to open up with robustness almost and great vigor and confidence and now we see essentially an admission from texas and florida that maybe they opened up too early. maybe they got too aggressive. this is spooking the markets we're not going to have that v shape recovery and therefore, how we're discounting the equity markets 12 months forward may be a little overpriced at this point in time. that's why you're seeing the selling pressure >> there are also corporate stories weighing on sentment nike under big pressure today. one of the biggest drives on the dow aft

wilf, back to you.eal estate sales crashing in new york city because of the coronavirus lockdown that's been a huge catalyst for surging home sales in florida which is becoming a major hot spot for the virus robert frank has the details for us >> the number of sales contracts for manhattan plunging by 80% in may. they priced over $5 million, even more down 90% they're shifting money to southern florida which saw a huge increase in may contracts for single family homes price oefrd a million dollars, up 45% in miami-dade county and up 26% in palm beach county. now manhattan brokers say they have not been able to show apartments or hold open houses and they're predicting a sales boom from all that pent up demand now condo listings were down 54% in may they had been creeping higher and sara and wilf, the big question for you is bhwhat's gog to happen with prices in manhattan? we'll only start to see that when we get some deals hopefully this summer. back to you. >> so when can brokers -- can they officially

. >>> welcome back time for a cnbc update >> hi, wilf.isiana governor john edwards is putting his state's reopening on hold for four weeks he says that the state will remain in phase two due to surges in new cases and hospital admissions he said the state would be doing a lot better if more people were wearing their mask and practicing social distancing >>> and staying on the south, texas governor greg abbott says that coronavirus is spreading at a unacceptable rate. texas is continuing the reopening as new confirmed cases set a record for the tenth day in a row abbott says that closing businesses again will be a last resort and, wilf, this one is for you i hope you're listening. in england, two miles from stone hedge, they discovered another mile while circle of shaft that is 3500 years old. the new discovery could provide clues about stonehenge and why it was built very cool. i have a feeling that was in there just for you. >> they with go. >> i'll send it back to you, sara >> feel free to comment. >> i mean, i'm not educated enough to

sara and wilf? >> meg, i'll pick it up. my apologies now to boeing. by far the best performer in the dow today. the company faces a key test to get its 737 max plane back in the air. phil lebeau has the details. >> there are a series of certification flights that started this morning they'll continue through wednesday. first one was completed late morning out in the washington state area just a little bit to the east of seattle. as you take a look at shares of boeing, keep in mind that this is a crucial milestone once they do the flights, they're testing the change that's have been made to the 737 max. again, the flight tests, the certification flights will continue through wednesday what happens on one of the flights? well, flight aware has shown us basically the second one that is going on right now is out in an area called moses lake this is a 737 max that has taken off and is circling around -- we don't have it. if you did -- if we had it, you'd get to see it. the basically doing a number of maneuvers. theerz a these are all highly scripted maneuv

got it changed to go to court or have evidence in the she was just a fire and how did you deal with wilf with that news was that extraordinary impact of the loss of the somme how did you shall know your grief or close at the film and still be trained because they also coach and baltimore county was police offices where he played football and when he got a teenager and i had a good relationship with former city police officers because i found him as most i have family were police so i had a great relationship with police up at where he sat f.l. fully trained it just made me one day want to get out as that sleep in atlanta round or nothing and that's it i gotta take a stain and that data do something and mother son i'm ok mom i'm matt and i said i had a speak out i just have to like a can't a case it now after and do something. and the truth is a for steve you and other models to your campaign all the way to the the gates of the white house tell us a bit about that experience and and what reaction was to to the sight of you and other mothers saying this house to stop the police violence wh

sector getting hit hard today as well courtney reagan has those details for us hey, court >> hi had, wilf. consumer 70% of u.s.-gdp, any recovery is very dependent on the consumer employment and their ability and desire to spend. take a look at the department store space today. even though macy's ceo said right here the early reopening is better than expected and improving. it's still well below prepandemic levels department stores are already down trending. and many predict that in closed mall based foremats are going to be the slowest to recover here nordstrom shares down 12%. macy's off 15% then you've got other mall based add peril players. they're really selling off today, too gap down more than 8% along with tapestry a lot of those selling discretionary items that are not high on priority lists right now. athletic retail stocks are down too. it is still hot but lower demand with youth sports canceled, adult exercise classes side lined and not going to the gyms regularly like perhaps we used to back to you. >> thank you so much for that. >> yeah, everything down today apart from krog

. >> hey, wilf big beats on the top and bottom. this is one of the hottest stocks of the year already tripled its value this year up further in the afterhours, it was as much as 6.5%. earnings per share of 20 cents versus nine cents expected, so double analyst's forecast. 28 million versus 308 million, which is what the street was expegting. customers with more than ten employees, that's up more than 350% from the same quarter last fiscal year. highest paying customers up approximately 90% year over year so zoom is delivering on these big expectations in terms of the outlook, strong beat, strong outlook on revenue and eps for the full year. guy, we'll continue to dig into this and bring you more, but it looks like a strong performance and meeting those high expectations back to you. >> it does thank you so much for that mike, whether we're looking at this quarter's revenue or the guide for q2, if you annualize it, it's somewhere between 30 to 40 times sales it's pretty extraordinary when you're forced to think about it. not trying

>> hey, wilf they're announcing new guidelines giving investors more incentives and more times to invest in the opportunity zones. opportunity zones allow investors and developers to defer or avoid capital gains taxes by investing in designated areas. republican members of congress looking to expand that program to attract even more capital that's because opportunity zones were expected to bring in more than $100 billion. so far it's only about $10 billion. noi critics also say this program is helping investors on many low income communities. projects being funded right now include luxury hotels, condos and retail complexes in a lot of affluent areas like manhattan, miami and the bay area there is never a list of projects or what impact they're having guys, back to you. >> it's also interesting because it's a current part of the narrative on the season of billions st but robert, my question was about the president and the administration's claims. you know, when they talk about some of the racial protest that's we've seen, the black lives matter and how they've been so beneficial as an ad

it means we're going to use this picture that is so amazing, wilf i don't know if you've seen it youbut i think it's my favorite of all the phone pictures that we use for phoners. it's un -- >> you're kind, joe. i have seen it because, in fact, i'm in it, but i'm just grateful to mary duffy and team for that helpful air brushing. >> no, it's not. it's not i know you and it's not air brushed. oh, my god >> well, i'm sorry i'm not with you in person. we had a problem tech wise let's get to the stress test under the rules fed vice chair said, quote, the banking system remains well capitalized under even the harshest of down side scenarios. it was headline grabbing aspects that have put pressure on bank share prices overnight most important was the fact that given the uncertainty created by the virus, banks will have to resubmit their plans and be retested again this year likely around september markets, of course, want certainty. we only have it as it relates to capital plans for a few months as for the current capital levels, they announced that individual fed results next week but bas

wilf is not shy when it comes to a flamboyant barnett. this is a trend that is not low maintenance.en serious. there is still time. there you go, the perils of haircuts which i am sure many of us have been through in the last few weeks. we will also be live at the early game which is watford against leicester at fort team news and brighton against arsenal which isa and brighton against arsenal which is a three o‘clock kick—off which is going to be live on tv. if you don‘t like football, there is a lot of it on. we have a piece about football league being back and speaking to someone at charlton, and trying to tie up everything happening in the european leagues over the last few weeks. there is a lot going on. we have got michael richards with us. we are back in the studio, it is going to feel a bit weird. no dogs or book shelves behind me. at midday on bbc one. maybe give winnie some extra bones to try and appease her. there‘s been a positive coronavirus test, at a golf tournament in the us. the american nick watney tested negative before the competition started, but was then showin