people go to costco to stock up. what is everyone doing now, they are stocking up. >> we are showing a rolling video of numerous parts of a costco store shot in new jersey on february 29 showing types of products price, nonperishable items toilet paper used to be here can we also say bjs and sams or walmart, is this the same thing for all of these >> it is the same for walmart and target. we saw kroger's numbers yesterday in line. the expect for costco were far exceeded by the numbers and even talking about most recent trends will be a big beneficiary. >> dana, thank you still ahead on the show, we are live in austria where opec leaders are proposing the largest oil supply cut since the great financial crisis "worldwide exchange" is back after this 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,

if i could just use the costco target as one example. costco, major chinese state-owned enterprise. so we designated two subsidiaries. and i think that was important, because it sent the message that i indicated in my speech, that no one is too big to fail. but also, the result was important. so after we designated costco, we engaged in several rounds of discussions with costco to ensure that they will comply with u.s. sanctions going forward. they created a sanctions compliance programs. they changed behavior. they changed behavior, which is the intent and purpose of our sanctions. our sanctions are not necessarily meant to punish. they're intended to change behavior of actors to become consistent with u.s. foreign policy. and i think they did that. >> let me follow up on that. so costco changed their compliance behavior. have you seen other shipping companies, for example, in the sfri, who looked at costco and said, wow, we don't want that to happen to us? have they similarly changed their behavior? are there indications of that, as well? >> there are indications of that. and we'v

i didn't even bother going to costco, brian, because i can't even face costco on a regular day, so -- >> jane, you're the only -- just you and i talking here and i'll say something that i'll probably get in trouble thing and the whole toilet paper hoarding thing, i don't get, if things go really south and you've got to shower i'm just saying if things really were -- you know what i mean >> well, the thing is how much do you need? and the bottled water -- >> people are fighting over toilet paper >> the coronavirus -- i know the coronavirus isn't going to force them to turn off the water as far as we know, but -- by the way, they're making plenty of toilet paper at the procter & gamble plant in oxnard where they're working extra shifts supply is not a problem, but there are these hiccups as everyone goes up and hoards and they're rationing toilet paper purchases. >> i just had to say it and i know you would appreciate it, jane >> one farmer recommended -- one farmer recommended corn cobs, old fashioned. >> old school. >> jane, thank you very much jump in the pool behind you and clean yo

we're talking more about costco and dive into numbers there. another rough day we talked about for oil and energy any opportunity here maybe we'll hit that as well be sure to check out app download it today. 'rba aerhis. >> announcer: the cnbc program sponsored by invesco qqq b11 is that? steve harvey? give me b11 isn't bingo just an ok use of your hosting abilities? it's like getting a samsung galaxy s20 5g, and not getting it with at&t. america's best network. bingo! no, you can't have bingo. i just called out two numbers. you do this every week! get the most from your revolutionary samsung galaxy s20 5g. switch now and get one free from at&t. building 5g on america's best network. the most reliableou are, xfinwireless network you to connect you with those who matter most. that's because it's the network that gives you the best coverage and more flexible data that you can share, mix with unlimited and switch at any time. you'll save up to $400 a year on your wireless bill. plus, get $300 off when you buy a new samsung galaxy s20 ultra. xfinit

. >> thousands of people are rushing to try to get into the costco here. >> plus, a vaccine trial getting fast-tracked with a shot in the arm. >> everybody's feeling so helpless right now, and i realized that there was something i could do to help. >> this special edition of "nightline," "covid-19 outbreak," will be right back. ♪ do you recall, not long ago ♪ we would walk on the sidewalk ♪ ♪ all around the wind blows ♪ we would only hold on to let go ♪ ♪ blow a kiss into the sun ♪ we need someone to lean on ♪ blow a kiss into the sun ♪ all we needed somebody to lean on ♪ ♪ ♪ ♪ all we need is someone to lean on ♪ >>> good evening. thank you for joining us. tonight, the fight against covid-19 is steadily intensifying around the globe and here at home. from sweeping new curfews to doctors racing to create a vaccine, there is now a new normal for all of us. >> are you considering instituting a nationwide lockdown, a nationwide quarantine? >> at this point not nationwide. we may look at certain areas, certain -- certain hot spots, as they call them. we'll be look

take a look at these pictures from someone who visiting a costco in wayne, new jersey. been to that one over the weekend. it wasn't me now we have nowhere to go. and everyone's taking the baby wipes. they found empty shelves like these and the run has lifed toks like kroger and costco which is higher in the past week and has earnings after the bell, let's bring in rupesh from open heimer good to see you. first of all, can both kroger and costco cope with this level of demand for the foreseeable future >> yeah, i think they can. so i was at costco the past few days and stocks on the toilet paper so i think ko is handling it well and then for kroger, i would say the same thing if you give these companies time, they are able to restock their shelves, so i would expect the stocks to continue improving in the comiing days >> i guess the question goes back to the long-term benefit that these stocks might see. it's understandable there would be kind of a one time rerating as people say you know what, and by the way, they have backing buy kroger r and costco has been one of the

does costco always break it out like that? or we they specifically trying to highlight the impact of the virus? >> they still gives us they monthly comps. sometimes the calendar doesn't end clearly with the end of the month and the end of the quarter, so there are instances where they have to give us two numbers in the same release of course, the end of february ended up to be a pretty important period of time >> thank you costco and gap trading up. take your pick, mike. >> costco very rare, obviously a 9% comp for the quarter. whatever the effect was as a company this size is still pretty impressive. gap, the market's valuing companies like gap as if they're not really fixable a new ceo seems like from the better part of the business. >> there was talk of splitting this company up. >> there was it's constituent pretty debt cash flow. the market doesn't want anything that has more than 1,000 stores, basically. >> and everything is on sale at all times, gap and old navy. >>> let's look at how we finished up the date dow lower b

in a few moments, we will hear from rival costco. costco at the moment is down 1.5%. most likely we are going to hear them talk about the impact i think of the coronavirus on its business. kristina, i would imagine this is good impact, right? kristina: i feel like everybody has been using this story in financial media, lines at costco around the country as people stock up on toilet paper and hand sanitizer. i really hope your family member is not going to actually make their own, by the way. but a key metric we are going to be looking for with the earnings after the bell is same store sales. this is sales open at stores for more than a year. expecting a little bit of growth. they are expecting 6.5% growth. see if that's been hit by any type of the virus. earnings per share, expecting $2.06, on revenue of $38.2 billion. costco overall has been doing quite well versus the broader market, up 8% over the year. as we take a look at some of the research, i was trying to check before going on air, there's a lot of buy ratings, bullish analysts on costco. i guess it's going t

costco is up more than 8%. apple is up nearly 6%. ing the way i was made to. it nourishes and strengthens my joints for the long term. osteo bi-flex - now in triple strength plus magnesium. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk while our competition continues to talk. wewithout the planet cooler getting warmer. at emerson, when issues become inspiration, creating a better world isn't just a result, it's a responsibility. emerson. consider it solved. >>> back to the volatility the dow up well over 500 points. our two guests join us guys, good morning >> good morning. >>. >> good morning. >> alan, you would argue that we shouldn't expect things to just bounce back to normal easily how should investors think about what we need to know about the coronavirus before people's minds get -- >> yeah, unfortunately, looking at virus data and, you know, we're all experts on the economic side rather than the medic

the costco relationship or vsp is relative low knew so it hasn't done something like go become in the history of vsp. at some point as more and more pressure came for vsp to consider a and that's what led to the alignment with the costco organization several years ago. perhaps eight to 10 years ago. because of costco buying power relative to the buying power of a typical vsp lower cost than a typical network provider so vsp constructed the frame allowances this way in order to close low a loin the total percentage of available frames that are available through a non costco network provider at or below the frame allowance to then be similar to the percentage of costco provided frames add or below that allowance and so for instance, based on information that it provided to me, probably this $80 allowance provides the ability for someone to purchase perhaps north of 60% of the frames available at costco with no cost sharing beyond the frame allowance and i don't have the specific figure but it just, that's a round about estimate and that is similar to an estimate now granted it may vary

. >>> costco change its store hours amid the pandemic. find out the new shopping time for seniors and the group of people that will be joining them. rand fast, reliable, secured internet from xfinity can help. we have plans to fit every budget with speeds up to a gig-all at xfinity.com. we'll ship you a self-install kit that makes setup quick, safe and easy. no tech visit required. and our simple digital tools will help you manage your account online. at xfinity, we're committed to keeping you connected. find great offers and value, today, at xfinity.com >>> good morning. san mateo county preparing for a surge of coronavirus patients. we'll tell you what's being done at an event center to help fight the covid-19 virus. >>> california court cases affected by the antioch outbreak, some people may stay in jail longer. >>> good morning. thank you for joining us on this last day of the month of march. i'm dave clark. i'm with my great colleagues. we're social distancing. got gasia here. steve paulson there. sal is here, as well. we thank you f

costco is suspending free samples over safety concerns. the stores have also seen a jump in sales, as shoppers race to stock up on cleaning products, and household essentials during the coronavirus outbreak. cnn's david culver shows us how china is keeping shoppers from spreading the virus and panic. >> reporter: in the u.s., when you're stocking up for a hurricane, a blizzard, or a viral outbreak, you tend to buy in bulk. shanghai residents flocking to china's only costco location to do that. and we joined them for some shopping of our own. so this is the long line that's moving actually at a pretty good pace, we've heard several announcements as we've been standing here, and essentially they're telling people, keep your distance from the person in front of you. >> the store only allows 1,000 customers in at a time. the wait outside, about 10 minutes. >> all right, we're going in. they told us to come into this one line where they're going to take our temperature here. >> carts sanitized one by one. but some shoppers adding a layer just t

. >> they are going to costco in droves. the lines are out the door and wrapping around the building. >> traffic in some cases backing up on the free ways as they wait to get in the parking lots. we are seeing stores putting limits on what customers can buy. >> reporter: could it be people working from home were sneaking out to go shopping, a lot of this costco was busier than usual as seen from sky seven and other locations shoppers were lined up to get in, waiting an hour and a half to two hours due to capacity limits. even this though with a short shopping list got caught up with >> i thought i was going to buy a couple of things that i was running out of. when i saw happening around me, it stuck pre. i should buy more. what if i cannot leave the house. >> fear of quarantine was sneaking in. but others because they have to stay home. she spent $300 here the other day. she is back again. >> i have three kids at home and they are not going to be going to school for almost two weeks and we have to feed the kids. >> carts wer

there's just degrees of losing given everything happening at the top of the food chain, walmart, costco, target, best buy and probably going to see more impact than the rest of that universe, you're going to be okay. you've got vendor power so if there's supply chain disruptions on a systemic basis, the vendors still apt to ship to you as an important customer and an advantage at the upper end of the rating scale as you get further and further down and if they're in a competitive sector that has the guys in it, there's going to be stress. >> could this be the event that pushes some companies hanging by a thread into bankruptcy what impact would that have? is there any way that the credit reflects that pricing? would those event just be kind of be end of the story >> this is an absolute shock to the system and i don't know that anybody has priced anything close to this into any credit risk at this point. >> you think worse than what the market's saying? >> it is hard to say we are taking -- our macro board put out a piece this morning taking a first half approach and we don't know what w

liz: this is interesting costco's sales, same-store sales are climbing 12% in february as demand for grocery items and cleaning products have propers far and wide diving into the stores. the virus rush not all good news, the wholesalers say in the daily deliveries are not enough to keep up with the surging demand and has been forced to place limits on certain items to keep the store shelves from be wiped out completely. the stock down 2.7% at $306.13. a little profit-taking at this hour. it is important to close out the week with more than 8% in gains for costco so it's not all a bad picture. we talked about it but i don't want to ignore the really strong jobs report, we have not mentioned until now, 46 minutes into the show, very strong number. >> will talk to pete on friday, it gives us a nice cushion to go into whatever it is were going into. we have that and we will see how we close out the week as it appears now off the lows and for whatever that is worth going in. we have president trump tracking the closing bell and he should be at the cdc in atlanta and we should see his move

you're selling off costco because no free samples? costco is down 2.57%. walmart moving higher by a third of a percent. walmart knows it will get more shipments of things people really need, whether it's cereal or toilet paper and of course, sam's club parent walmart literally the only stock in the winner's column for the dow on a renewed recession concern. people will want to shop where prices are better. dollar store chain, well, interesting, these are getting a boost from a prepping and economic slowdown, fears around the globe. dollar tree, the top nasdaq performer, it's up four bucks or 5%. nice move there. dollar general up 1.5% or $2.42 to $160.80. we should take this moment to check gold. i don't know if we can put it up. let's get that yellow metal up there. it is retreating from the more than $1700 a troy ounce level that it hit in early trade. right now we are at $1674. that earlier high was another fresh seven-year high. the shiny commodity settling modestly higher, up about $3.30 an ounce. in the aftermarket, we are up just $2.40, $1,674 per t

. >>> up next, have you been to the store or even costco? toilet paper, pasta, over the counter meds sold out in many locations. costco making some changes. we'll tell you about it next. awesome internet. it's more than just fast. it keeps all your devices running smoothly. with built-in security that protects your kids... ...no matter what they're up to. it protects your info... ...and gives you 24/7 peace of mind... ...that if it's connected, it's protected. even that that pet-camera thingy. [ whines ] can your internet do that? xfinity xfi can because it's... ...simple, easy, awesome. [ barking ] >>> you probably know this. it's the thing people are stock piling food and supplies. costcos around the bay area are seeing lines out the door. people are loading up on food, toilet paper, hand wipes, over the counter meds, anything you can think of. in some cases, actually in many cases, costco and other stores around the bay area limiting the amount you can buy. >> i'm the least prepared person. i have four kids. this is double what i usually

look at costco, up 7.25%. consumers snapping up groceries and cleaning products as they prepare to stay home versus eat out. fears of the deadly coronavirus may trigger wider quarantines and event cancellations, propelling that name, costco, to, yes, the very peak of the s&p 500. by the way, clorox is up 6%. walmart, better by 5.33%. those names are not far behind on the s&p 500. >>> we should look at china's online version of costco. it's benefiting big-time. shares of jd.com surging to the top of the nasdaq after reporting fourth quarter revenues gained 27% year over year. remember, this is a chinese company, as online ordering surged. that stock is gaining a very significant 12%. let's flip it over to travel. we know the travel names have just gotten hammered and they continue to struggle here. iag owns british airways. it says it's canceling some flights to the u.s. so talking uk to jfk, due not of course to any coronavirus threat but reduced demand from the fears of travel. we can flip it to delta, as int

president trump -- costco. president trump announcing a nationwide national emergency, urging folks to work from home, schools announcing long closures and people preparing to quarantine. they're stocking their pantries with enough to last them a couple weeks at a time, especially shelf-stable items like pasta sauces, battled water, canned soups, and we're also now seeing today after those items went very quickly, a rush on fresh items like chicken, ground beef and fruit. there are some indicators of some farther reaching shortages. on amazon toilet paper's largely sold out, deliveries are delayed indefinitely for some items. on costco's web site, you can't even buy baby wipes anymore, and some is services like amazon fresh and prime pantry are booked for several days. you can feel the tension inside the stores. at one point this morning at that costco in yonkers, police had to close down access for a two-hour period because it was is so overrun with shoppers. there was a backup for about a mile of cars just re

. >> costco, right, can't pass up a good costco trip, no matter what. >> give a shoutout to costco. and chico's. they have people outside some of these stores wiping down the carts for you, the handles, so. >> no kidding. >> they're taking precautions. they're being really good. the community is, you can see the community pulling together, smiling at each other, like, let's just all stay clean, and go out and get along. >> if you wanted to, which, by the way, you could, since you can move out and about, would you feel comfortable taking the train, let's say, into manhattan? >> yeah, so i actually work in manhattan, and this is my first day working from home, i'm fortunate enough that i'm able to do that but i've been commuting every day up until now, and i've also noticed a lot less people on the trains. people wearing masks, but i haven't felt like nervous or scared to at all. >> i would not take the train. >> she's different. >> here's the thing. i'm not going to put myself at a higher risk, anything you do once you leave the house, you put yourself at some type of risk. >> spoken

the costco relationship or vsp is relative low knew so it hasn't done something like go become in the history of vsp. at some point as more and more pressure came for vsp to consider a and that's what led to the alignment with the costco organization several years ago. perhaps eight to 10 years ago. because of costco buying power relative to the buying power of a typical vsp lower cost than a typical network provider so vsp constructed the frame allowances this way in order to close low a loin the total percentage of available frames that are available through a non costco network provider at or below the frame allowance to then be similar to the percentage of costco provided frames add or below that allowance and so for instance, based on information that it provided to me, probably this $80 allowance provides the ability for someone to purchase perhaps north of 60% of the frames available at costco with no cost sharing beyond the frame allowance and i don't have the specific figure but it just, that's a round about estimate and that is similar to an estimate now granted it may vary

as shoppers rush to this costco near las vegas, hundreds waited outside to stock up on supplies at this new york grocery store, customers stood for two hours to check out. aisles usually chalked full of toilet paper, paper towels, cold medicine and pasta now lay bare with nothing left. >> showed up today and it's just chaos. >> reporter: grocery stores are trying to keep up with demand. kroger, the largest chain in the country, says its working to restock shelves while rationing some items so everyone can have access to the items they need. target, walmart and costco imposing similar limits and starting sunday, some retailers opening up their parking lots for drive through coronavirus testing. >> we're focused on a common competitor, and that's defeating the spread of the coronavirus. >> reporter: for those avoiding stores and parking lots, online shopping isn't necessarily easier orders for hand sanitizer, masks and gloves skyrocketed 817% last month online toilet paper orders up nearly 200%. with so much uncertainty, it's important to remember that supplies are still coming in. empty

today the mountain view costco sold out of water and clorox wipes. and chinese-american leaders say they are seeing an increase in xenophobia. today hundreds denounced the bigotry at a rally, and stores are seeing a drop in business there. >>> in palo alto two students were sent home from school after district officials learned they might have been exposed to the coronavirus. >> cleaning crews wearing protective gear were disinfecting doorknobs and water fountains and cleaning was also happening aic officials learn friday a parent of two students was possibly exposed to coronavirus. on the district's website the superintendent said as a precautionary measure the district took action and the two students were sent home and will be excluded from attending school until more information. >> concerning? >> absolutely. >> some people attending sporting events at palo alto high didn't know about the virus square? >> i teach as well, and i am very conscious of that, airborne, you know, coming in contact and things of that sort and i think we were caught with

here's a look at the photo a fe toe of a very empty costco. this just came in from dom there is not much of it. those familiar are shopping at costco know what section it's in the back where you have the toilet paper, paper towels they said they laid down a palette of this stuff over the weekend, some of those shortages do persist today >> all right well, there you go that is empty. not sure why looks like russia -- >> not sure why. but -- >> yeah, there's a sense of people needing to say, it's both if you, your household is quarantined for two weeks, you can't go anywhere, you want to have the stuff you need and if supermarkets can't get employees, it's not a reliable supply there's been no example of that. dealing with natural zasers and different things on a wide scale, in that case, costco was having a great day yesterday it's dropping and so are the rest of the retail names down about 2% as fears of the coronavirus spreading in the u.s. consumer. the group is down about 15% from its recent highs oliver chen is managing director at cowen,

plus a big change coming to costco today it has nothing to do with the coronavirus. imagine that. keep it here on fbn:am. there's a company that's talked to even more real people than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room. ♪there's a me no one knows ♪waiting to be set free so, what's the empty suitcase for? the grand prize trophy ♪i was born to be somebody lauren: nationwide academic taking center stage during first one-on-one debate between bernie sanders and joe biden the candidates waste no time slamming president trump's response to coronavirus. >> well first thing we've got to do but we're not on president is to shut this president up right now is unacceptable for him to be blabbering with unfactual thftion. the world health organization offered, offere

you have to use costco and amd as a mesh uf of the decline. amd had a fabulous meeting costco has been able to weather pretty much any storm. so strong there was a question about the balance sheet and whether it allowed them the current interest rate environment to think about a buy-back capital structure how many companies are in that great shape? they have a special dividend talk about a company that is crushing it all over the globe including shanghai >> including in china, where they had obviously very strong sales until the virus. >> right >> they're also a beneficiary here of everybody coming out and buying a lot of things >> double digit. their biggest problem? stocking all of the merchandise that they need, double-digit all over the place they had people working around the clock. they have a tremendous structure of dedicated people almost as dedicated, david, as cliff mason from "mad money" our writer and mark hoffman who green lighted "mad money," our ceo, chairman, all here because it's our 15th and regina gilgan, our unbelievable ex

. >>> we're back now with long, long lines outside of a costco in santa clarita, california. a surge of shoppers flooded the store on thursday with hundreds of people lining up. now similar scenes have played out across the country as the coronavirus outbreak spreads. the hot-ticket item for many? toilet paper. stores have been forced to place purchasing limits on some items. >>> adding to the call for america to increase its capacity for coronavirus testing is one of america's top public health officials, dr. anthony fauci testified at a house hearing thursday that america has failed. >> but in an interview with abc's linsey davis, he clarified what he meant by failed. >> so you testified today that the u.s. testing system is currently failing and we're not set up for universal testing. who's responsible for this failure? >> i don't think it's anyone that's responsible. what i was referring to is the system as it was originally designed was really designed for a patient to doctor relationship in which the cdc would make a test, give it to the public health authorities in a p

walmart is big winner with larger retailers like costco. i want to focus on costco for a second. that is one of the s&p 500 winners. why? you have the expectation that people are still stockpiling. so they are going to costco to by. pictures of huge lines in costco optimism towards end of the day, that traders, investors, believe, policymakers, central banks will come through to mitigate any type of impact from the coronavirus on the global economy. back to you guys. melissa: kristina, thank thank . oil snapping a six-day losing streak. let's go to phil flynn with more on that. phil. >> it sure did. kristina said you never want to fight the fed or all the central banks across the globe. oil prices are responding to a big move back up on the stock market. even signs of demand destruction, even though it has been historic may have not been as bad as we originally thought. there is a lot of talk about opec. they're the central bank of oil. they like to tell themselves that's what they are and there is a lot of rumors swirling around about a production cut. the meeting goes on the 5t

. >>> first costco and trader joe's, now your favorite little neighborhood store. the hordes of coronavirus shoppers have made a move toward mom and pop shops, leaving those just as empty as the big box stores. sergio quintana is live in san jose at a trader joe's which just closed. sergio? >> reporter: yeah, and kuft mcus have been clearing out the shelves at stores like this all across the south bay faster than employees can keep them stocked, and the customers are simply saying, we're just trying to get ready. for the second day in a row, customers have been flooding into supermarkets across the area. at the international food bazaar, it's been this busy from the moment the doors opened until closing time. one of the most popular items, rice. >> it's like a doomsday kind of mentality. they're just stocking up, and they need their provisions. >> reporter: big chains like trader joe's and costco have been hectic for most of the week. >> pretty hectic in there. there's a lot of people shopping for water and chicken. basically it's just empty on all the shelves. >>

. >>> still to come, chaos at costco, people lining up bright and early to get supplies, but there's one thing experts say you should not do. that's next. >>> and a possible new way to keep you safe while on b.a.r.t. the new idea so you won't need to touch any surfaces. >>> another look at that qr code. if you have an iphone, take a picture of that code right there, bottom left-hand side of your screen. see it there? it's going to take you to all of our coronavirus coverage on our mobile app. we'll be right back. >>> video to show you right now from outside a costco in south san francisco, 6:00 this morning. line stretching on and on and on. everybody's got their cart out. they want to stock up. seeing lots of people panic shopping, trying to stock up with as many supplies as they can. but experts say if you are trying to prepare ahead of time, only buy a two-week supply of what you need so everyone else can get some too. >>> b.a.r.t. trying to get creative to help stop the spread of the virus. the agency posted a video of general manager bob powers demonstrating one of those ideas,

pharmacies and supermarkets like this seattle costco where large groups swarmed the shelves. >> it's crowded. and yeah, people are like fighting. >> reporter: but kindness can be more infectious than fear. officials reminding people to stay calm and think about helping those most in need. jonathan vigliotti, cbs news, los angeles. >>> still to come, the opening bell. we'll look ahead to stock futures and the impact of the latest fed move. latest fed move. that life of the party look walk it off look one more mile look reply all look own your look... ...with fewer lines. there's only one botox® cosmetic. it's the only one... ...fda approved... ...to temporarily make frown lines... ...crow's feet... ...and forehead lines... ...look better. the effects of botox® cosmetic, may spread hours to weeks after injection, causing serious symptoms. alert your doctor right away as difficulty swallowing, speaking, breathing, eye problems, or muscle weakness may be a sign of a life-threatening condition. do not receive botox® cosmetic if you have a skin infection. side effects may include allerg

a long line of shoppers waited to stock up outside costco in manchester, and as everywhere, there's been an inexplicable run on toilet paper. as british hospitals get ready for a surge in patients, matt hancock made an appeal to medical equipment makers. >> we're saying that if you produce a ventilator, we will buy it. >> reporter: but nowhere is there panic. instead, solidarity. locked down italians singing from their balconies and in spain, a mass ovation for health care workers manning the hospital front lines. elizabeth palmer, cbs news, london. >>> sunday marks one year since the attack on two mosques in christchurch that killed 51 people. mourners laid flowers to remember the dead and remembers of a motorcycle club performed a traditional dance. here the coronavirus caused a formal memorial to be canceled. >>> straight ahead, how the coronavirus is threatening the nation's blood supply. >>> and this isn't the first time humans have been plagued. a look back at past pandemics >>> later, the coffee shop where hope is the first thing on the menu. fred would do anything for his daughte

of the virus in santa clara county likely through community spread, you can see the crazy crowds at costco. people rushing to stock up on everything from disinfectants to food, they actually ran out of clorox wipes in this costco in san jose. health officials reminding everyone not to panic but to be prepared and have a plan. they're reminding everyone to wash those hands often. disinfect things you touch often as often as possible and try to keep from touching your face. simple things that can help us all decrease the likelihood of this virus spreading. julian glover, abc7 news. >>> health officials in solano county reporting two health care workers tested positive for the virus. officials say they will stay in isolation at home until they are cleared from the virus. health care workers must now wear protective gear when a patient comes in with a respiratory illness, whether or not that patient has traveled. >> the health care workers recognize that this is a part of their job. the truth be told, coronavirus is not that scary. if you look at the disease, how it passes from person to perso

think disney boeing costco amazon walmart. honeywell. i'm throwing in tjx because there are so many retailers going to go bankrupt they can own everything i'll be shopping there long line. the values are fantastic i got a pair of black pants -- different story. the barbell is curiously imbalanced aside from the staples and a few select techs, not many things are investable when the economy takes a huge header. you can't on the banks they're 2 and 0 for mortgages. retails, big banks are winners why? they're being destroyed by big boxes. can't own travel or transport. a long time before people trust the process of vacation again. i was tempted to buy united airlines as a hedge. travel, forget it, jake, it's travel airline etf down 15% this year most importantly, you can't touch the oils when the posted price for crude in the basin is ten bucks lower than what you're seeing on the screen it's not the 20 west texas intermediate these prices will devastate the industry if we don't get this outbreak under control soon, i bet oil could easily g

costco better by 7.2%. what we thought we would do is go to kristina partsinevelos who is at a big grocery store in ardsley, new york. i'm really interested to know what's being bought. i know fresh produce is all stocked there but what's really kind of running out there? reporter: nothing, actually, at this moment is running out. there are fewer cans of perishable goods, non-perishable goods i should say like beans. overall the priority of the store is the remind people they are constantly getting an influx of shipments. what they are doing is having shoppers, this young woman over here waiting in line because they are not having everybody come in all at once. you have a lovely staff that has been here since this morning, sanitizing all of the shopping carts when you walk in there, paper towels, gloves for you to use and we are at decicco and sons, they have eight locations. i spoke to shoppers that came this morning, elderly as well as those that are at-risk, were able to come before store hours and tomor

so costco is the best choice to try. >> toilet paper. and food. sanitizer, there is nothing here in target. >> and the shelves were indeed bare for paper goods, cleaning supplies and cold medicine. >> i think this has started to hit. >> it looks like right now people are nervous and so they buy things they're nervous about. >> reporter: robert chapman teaches in the san jose state school of business and said worrying about what we have during the coronavirus pandemic is understandable but, he said, we don't really need that much toilet paper and even if shelves quickly empty every morning there is still more product on the way. >> the main thing to realize is that for most products the supply chain is working just fine now. food production is just fine. paper goods production is just fine. >> reporter: so buy what you need, and try not to get caught up in the fear. >> and i was determined not to get caught up in it but then you can't help it when everybody else is grabbing things off the shelves. >> reporter: i spoke to representatives from a coup

costco says no more free samples because of the risk. some restaurants in california are taking people's temperature at the door. it comes as the virus takes a bigger toll on business. some restaurants already reporting a 50% drop in sales. >> i think it is because of coronavirus. people are scared. >> reporter: malls facing an extra challenge. nearly two-thirds of shoppers expressing concern about crowds. the airline industry could see $113 billion in losses this year. the crisis already forcing one budget airline in europe to close. >> it's really sad. i thought that we'd be safe. >> reporter: hotels also taking a beating. bookings in las vegas are down by one-third compared to last year. chains like marriott expect to lose $25 million just this month. the good news, people willing to travel could see big discounts. flights from the mainland u.s. to hawaii are now available for $99 with hotels 30% off. so this is the type of thing i'm sure that you're getting too with coronavirus. everybody's worried about it, you get people asking, is

>>i will that's right you know i thk they're still open may be different costco stores. yeah that's right are reportedly banning returns on items like toilet per soap rice is people panic by course and there's been shorta those things now 3 employees at different costco warehouses in the northeast, texas and illinois told business insider their stores that recently implemented a policy to reject returns on items that are in high demand, although custer did not confirm that the national park service will waive entrance fees during the crisis park leaders say it's critical to ep the parks open it provides people open space a chance to connect with nature to stress really get some exercise. they do say though those parts of the park if they start to get crowded, they will close those off so like the visitor centers and things like that and amazon giving way to free months of kindle and limit end the kindle unlimited trial gives you access to over a million books audio books and current magazines on any device that has the kindle app and normally cost 9.99 a month and domino

now understand even the best ones like a splunk, greatette quarter, down 14 today like a costco getting hit in the after hours. anything can have a short-term problem. but i am with bill mcdermott i am with servicenow let's go to chris in virginia, please chris? >> caller: hey, jimmy chill, boo-yah. >> boo-yah, my friend. what's going on? >> caller: hey, i'm 33 i've been watching this show since high school. you've really helped me mold myself into a great investor i'm grateful thank you. >> thank you >> caller: i found a company that really seemed to benefit from the secular tailwinds of the growing esgn indexing trends what's your thoughts on msgi >> run by my good friend henry fernandez. yes, he is my friend, from real life he is my friend because he and his wife are good friends with he and my wife handy does a remarkable job. i've been recommending his stock since i met him. and i'm sticking with wit. i met him a long time ago. charles in new jersey, charles >> caller: huntsville. your insights on dq? >> have i enough problems. this is a chinese company and i think the chinese mark

president, there are so many people rushing to costco and groceryfilling up their baskets. is that the right move? overnight apple announced they'll be closing all their stores for two weeks. do you want to see other retail outlets, restaurants, do the same thing? >> i think frankly it's good if they do it. i think what apple did is fine. want to keep people away, just keep them away. when it gets better -- well, people are going and buying things. i understand that. i had my temperature taken coming into the room. [ inaudible question ] let's compare. that means we're all looking good. i also took the test last night. and i decided i should -- based on the press conference yesterday, people were asking did i take the test -- >> how long does it take? >> a few days. >> mr. president, you've been sending mixed messages. you shook hands with people yesterday. you have talked about 5 million tests being available, probably won't need that many. has your own sense of urgency evolved and are you changing what you're doing? >> this was urgent for me right from the beginning. you

>> you know, it's not just costco. it's scores all across america right now. i'm in front of an aldi. the store just opened at 9:00 and standing outside were about 25 people waiting to go in. the president did say that based on his conversations with the executives of grocery store chains across the country that they are estimating consumers are buying about 3 to 5 times as much food as they normally would and that's causing pressure to the supply lines. to give you an example of how difficult it is just here in the kissimmee, orlando, area, we ventured out and did a little shopping on our own. this is the sort of sign that's handed out. it says due to the demand they're limiting at scores what people can buy. toilet paper, two rolls, towels, two rolls, eggs 3, milk, 3. they're limiting it. we went and purchased a roll of toilet paper, some bleach and the tiniest of all little hand sanitizers. it took three hours going to six stores to find this. so you get an idea of how difficult it is, stephanie, to find the items. the question is, are people going to sort

i was in costco over the weekend. god bless american consumers people were piling up pecans for the pandemic why? they had enough mustard for generations. >> they last a long time >> consumers are very brave. it is businesses that lose their nerve. that is the point. >> good point. goldman, travel restrictions target cancels the investor day. vanguard is cutting all cross border travel for the foreseeable future who is freaking out more, consumers or companies >> i think businesses have legal concerns and there are some genuine concerns but businesses are cautious about this they don't want their employees to come down with this virus a lot of things can be done with telepresence and teleconferences. businesses generally act more prudently. consumers when it comes to the issue of consuming are pretty brave. >> last question to you. you're talking upside risk and say there are buys out there which industries are you looking at >> we think there's still enough worry for the down side and enough uncertainty overall that

>>what would you say about this >> the thing about costco that stays in the range i think you'll see that continue even when you account for the benefit in the final week of february for coronavirus based on what they said the same store sales would be more taken that point. >> when i look at that stock, i look at the membership rate as an annuity it's over a 90% renewal rate this pure play with warehouse shopping even if people are running in because of coronavirus, people are engaging because of the story. i'm more comfortable we are not going to see that retraced with lower levels >> costcos roic hit 25% last year they are generating generous amounts of free cash flow. the initiatives are doing well dot com grew 28% up 17% when you pull out supposed coronavirus impact. what they are doing is working really well. we also think the u.s. business is moving well because of the aging demographics as well >> the stock closed in and is a 12-month price target. >> that's right. we raised our target to 350. it was 330, we raised it in our note >> that's what you saw >> ahead of softbank's

same situation with costco yesterday. that stock jumped 6%. amazon says it is adding new warehouses closer to big cities to help speed up same day deliveries. charlie: i will buy some vodka. liz: i'm going to buy brie cheese, hunker down. you know, we're not all total nervous nellies here. for those who watch "the claman countdown" faithfully, i know a lot of you are out there, you know these stockpiling efforts did not just start this weekend. our producers captured these images of empty store shelves in cvs and duane reed back in january, january 24th, because i had gone to a fort lee duane reed to pick up something and the masks were totally sold out, more than a month ago. fast forward to this past weekend, take a look at the scene at costco. retailers across the nation really became the beneficiaries as americans filled up and lined up to buy food, cleaning supplies, bleach, despite the virus inspired rush, costco and walmart getting hit by target's disappointing full year forecast after the discounter missed on previously lowered revenue

this was the scene at costco in concord. shoppers were limited to one package of toilet paper, one package of paper toums and bottled war per cart holder. >>> tom vacar spoke to students and officials within the oakland school district about the unprecedented closure. >> reporter: this is lincoln elementary. and it, like every other oakland usd school, closes in less than one hour. oakland is joining that growing list of school districts that are saying we're not gonna be open for a few weeks because they just believe that the risk is so great that they don't want to have hordes of students in close quarters. skyline high school junior, sam ivy, having been told his school will be closed for the next three weeks left midday because classes were already essentially shut down. >> i have two classes left. my teacher is sick. i talked to my fifth period teacher, he said we're not gonna be doing anything in class today because he's trying to create a lesson plan for the next three weeks. >> reporter: this is aggravating for an ad

cosco -- costco and some of the .ther food doors doing well cbs and colgate palmolive doing well. pulley palmolive doing well. live nation organizers might be having to cancel. guy: let's get more analysis on the markets. our senior editor for markets, john authers in new york. it looks like we are going to get a meeting tomorrow, mainly to coordinate possibly monetary action. what kinds of things do we need to hear to make the market convinced this will have any effect? obviously need to hear the central banks are on the same page with each other. one of the other things that will dominate the discussion is the way that the dollar has completely reversed and started to weaken very dramatically in the last couple of weeks. one suspects that has something to do with a coordination and would make a lot of people happier if the dollar kept weakening. beyond that, many of us have been discussing over the last couple of weeks nothing that money can do to cure any of us --, but monetary action can deal with the potential for a secondary crisis. we have had an asset class shock and that

when we go into the bloomberg terminal and compare costco to the consumer index and the s&p white,at is costco in there are big gains over the last year representing outperformance on a confluence of factors. now, the coronavirus presents an unknown factor for americans, and these shares may continue to gain as folks stock up on basic supplies against the backdrop of uncertainty. that is your stock of the hour. vonnie: abigail doolittle, thank you for that. super tuesday is tomorrow. 14 states and one u.s. territory holding primaries, with more than one third of all delegates up for grabs. pete buttigieg ended his bid for president yesterday. let's bring in bloomberg's chief washington correspondent kevin cirilli. first, a word on how this changes the chances for the more moderate part of the democratic primary field. kevin: it is good news for former vice president joe biden, who had a decisive victory in south carolina and was claimed the victor. meanwhile, just 24 hours after that, buttigieg and steyer dropping out of the race shows that there is now confidence in biden in order f

i would say this weekend, was a turning point where you saw a lot of people hording on supplies >> costco was the strongest yesterday. walmart up big year to date, they both outperformed handily does that make sense >> i think mid-january announcement spooked a lot of people with respect to target and the sales were going to be off a little bit again, it is an operating income game especially now where there is so much competition going on with the big guys fighting this pitch battle there will be quarters where somebody wins big and somebody doesn't. target got caught in mid-january. >> we had january on yesterday he made the point that what is happening with the coronavirus, people are using more on line options or pick up many of these from the dot com perspective that people will use it more frequency. target seems to be saying when people have tried it, they come back >> once you've experienced the buy on line and pick up in store or maybe drive up and you don't get out of the car, you are safer. in this day and age, people are in scared of contact i think once you do that, it is so

costco, withrt, clorox also. shopping, online amazon managing to be higher. today, all marked, costco and those shops higher and also with and every buddy trying to get the disinfectants. -- thankank you back you. preview of our super tuesday coverage. this is "balance of power" on bloomberg television and radio. ♪ david: from new york, this is "balance of power" on bloomberg television and radio. i'm david westin. we are a day away from super tuesday, went 14 states and one territory will hold democratic primaries. the shape of the playing field has changed with former vice president biden big in south carolina, bringing in endorsements and money, and pete buttigieg abruptly dropping out of the race. here's a look at what to expect. self-proclaimed democratic-socialist to conventional wisdom and turned it upside down. >> bernie! sandersat talk about support being limited to young white liberals who are disaffected? no one is saying that now. sanders won 47% of the vote in the nevada caucuses, and he did it with a broad-based coalition that looks more like