Transcript: Nightly Business Report — March 19, 2015

ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen and

Sue Herera.

 

TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: Game on. Dow

component Nike (NYSE:NKE) beats Wall Street earnings expectations on strong

demand, but there are a couple of numbers in the report investors should

watch.

 

SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Lifting the ban?

Congress hears testimony on the benefits of exporting crude as oil prices

remain volatile and under pressure.

 

MATHISEN: And deadline looms. And for many retirees, if you miss it,

it could cost you.

 

All that and more tonight on NIGHTLY BUSINESS REPORT for Thursday,

March 19th.

 

HERERA: Good evening, everyone.

 

Stocks took a breather pulling back from yesterday`s big Federal

Reserve fueled rally. But we begin with earnings from the largest sports

wear maker, Nike (NYSE:NKE). The Dow component reported a 16 percent jump

in quarterly profits as more people bought apparel and running shoes. The

company earned 89 cents a share, a nickel better than expectations.

Revenues were hit by the stronger dollar and came in below Wall Street

estimates at nearly $7.5 billion but that was an increase from a year ago.

Shares initially moved higher after the report.

 

Sara Eisen has more on what`s working for Nike (NYSE:NKE) and what`s

not.

 

(BEGIN VIDEOTAPE)

 

SARA EISEN, NIGHTLY BUSINESS REPORT CORRESPONDENT: The takeaway for

Nike (NYSE:NKE), when you`re a global consumer giant, it helps to have a

strong and growing brand to help counter the negative impact of the

stronger U.S. dollar, and that`s exactly what Nike (NYSE:NKE) thought.

 

Overall, numbers were solid from apparel to footwear but sales missed

the mark because of the stronger U.S. dollar cutting into Nike (NYSE:NKE)

sales abroad. North America`s biggest market, but it does do most of its

business overseas.

 

Futures orders are what everyone pays attention to with Nike

(NYSE:NKE) numbers. The company is expecting them to grow 2 percent. Take

out the impact of a stronger dollar and that number would have been 11

percent, driven by strength in North America, in Europe, Japan, even double

digits in China. The only sour spot in terms of the outlook was for

emerging markets.

 

Bottom line, Nike`s underlying business is strong. It`s been

investing in new product launches and innovation. That is help cushion it

from what`s a major headache for corporate America right now, the stronger

U.S. dollar.

 

For NIGHTLY BUSINESS REPORT, I`m Sara Eisen.

 

(END VIDEOTAPE)

 

MATHISEN: On Wall Street, it was a day of reversal. Stocks were down

after being higher yesterday. The dollar rose after yesterday`s fall, and

oil prices dropped, weighing on energy shares. And Dow components like

Chevron (NYSE:CVX) and ExxonMobil (NYSE:XOM).

 

By the close, the industrial average fell 117 points to 17,959.

That`s the ninth triple digit move in the past 10 sessions.

 

NASDAQ moved higher gaining 9 points, the S&P sank 10.

 

One its first day of trading as a Dow component, Apple (NASDAQ:AAPL)

shares a little bit lower by almost a dollar.

 

And initial jobless claim rose marginally last week, increasing 1,000

to seasonally adjusted 292,000.

 

HERERA: And now to oil, where Congress today held a hearing on

whether the lift the current ban that prevents exporting that commodity.

And the hearing came on a day where supply concerns weighed on prices. By

the settlement, West Texas Crude fell 77 cents to 43.96.

 

Jackie DeAngelis has more on the downward pressure on prices and the

hearing on Capitol Hill.

 

(BEGIN VIDEOTAPE)

 

JACKIE DEANGELIS, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over):

Oil prices seeing red this week on the back of a stronger dollar and the

supply glut that continues to grow. Wall Street analysts have been

predicting that we could see $30 oil in the first half of the year and even

traders that were skeptical now agree. This week, the EIA reported crude

oil inventories grew again by almost 10 million barrels. The agency also

sang the U.S. supplies at the end of February were the highest since the

mid 1980s.

 

And today, OPEC reiterating that it has no plans to alter its

production strategy as it struggles to maintain its market share.

 

TOM REILLY, SCS COMMODITIES: It`s really not about demand. It`s

about how quickly supply has ramped up. The oversupply of OPEC and their

continuation to not stop production, to pump as much as they can so they

don`t give up any market share, has been a real main factor as to why we`ve

gotten down to the low 40s.

 

DEANGELIS: On the back of supply concerns, Washington is debating

whether to end the decades old ban on global oil exports.

 

RYAN LANCE, CONOCOPHILLIPS CHMN. & CEO: Crude oil is the only energy

product banned for expert, and that needs to change.

 

DEANGELIS: Industry insiders believe global political concerns will

keep the export policy changes on hold, for now. But supporters like

ConocoPhillips (NYSE:COP) chairman Ryan Lance (NASDAQ:LNCE) believe exports

could be a bright spot for the economy.

 

LANCE: On average, 400,000 to 800,000 new jobs per year. We gain $86

billion to $170 billion in annual GDP.

 

DEANGELIS: To add insult to injury, store space is filling up

quickly. Current estimates suggest that we`re roughly 60 percent to 80

percent full. Should that number rise to near 100 percent, it could be the

catalyst that crushes oil.

 

REILLY: We think that we will get a spike downward once we get closer

to 100 percent full because everyone will be forced to glut the market with

oil, and the cash market. That will send the prices down.

 

DEANGELIS (on camera): And then there`s the impact of the

strengthening dollar. It takes traders using other currencies out of play,

pressuring prices. The dollar continues its monumental rise as expected.

That is bad news for oil prices. It means they could slide further.

 

For NIGHTLY BUSINESS REPORT, I`m Jackie DeAngelis.

 

(END VIDEOTAPE)

 

MATHISEN: With the drop in oil prices, some investors may steer clear

of buying stocks in the sector.

 

But as Morgan Brennan explains, there are investment opportunities to

be found if you know where to look.

 

(BEGIN VIDEOTAPE)

 

MORGAN BRENNAN, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over):

As crude oil prices renew their slide, energy stocks followed suit, with

the energy sector the worst performing in the S&P 500 today. But as oil

continues to fall and oversupply concerns, experts are beginning to return

to the stocks, drilling for deals in a sector that shed nearly 20 percent

since September.

 

MATT SALLEE, TORTOISE CAPITAL ADVISORS: We see good opportunities in

the energy right now and, you know, frankly I think the price is

unsustainably low for crude oil. So, you know, we are advising investors

for to make long-term decisions and over the long-term, say you have a year

plus time horizon. We think it is a good time to buy energy stocks.

 

BRENNAN: One group that`s already reaping returns, refiners, which

haven`t just outperformed other energy stocks but the S&P as a whole this

year. Why? Oil refiners benefit from lower U.S. crude prices, which mean

lower costs. Resulting petroleum products are then sold at prices tied to

Brent Crude, the international benchmark, which is valued higher. Experts

say it`s not too late to get the rally.

 

SALLEE: For an investor that`s willing to deal with a little more

commodity price volatility, we do like the refiners, specifically Phillips

and Valero. We think that they`re not pricing in current spread, so we

think see upside in these stocks.

 

BRENNAN: But analysts are also beginning to warm back up to oil and

gas producers, a so-called expiration and production companies, that had

been among the hardest hit by crude`s collapse. Companies like Carrizo Oil

and Gas, a smaller producer that analysts note is likely to buy more

acreage, a move that would position it for growth in the long-term, once

oil prices recover.

 

And with crude inventories at a record high and growing, midstream

companies that own pipelines and storage tanks stand to gain as well.

Energy infrastructure giants like Enterprise Product Partners, Plains All-

American Pipeline, and Magellan Midstream Partners (NYSE:MMP), which pay

out hefty dividends and are very expanding their holdings.

 

(on camera): But there are still plenty of headwinds. And one of the

largest is the fact that oil could move much lower, at least in the short-

term. That means plenty of volatility for energy stocks and it also means

greater risk.

 

For NIGHTLY BUSINESS REPORT, I`m Morgan Brennan.

 

(END VIDEOTAPE)

 

HERERA: Banks that have issued loans in the oil sector face millions

of dollars in potential losses. In a report published by “The Wall Street

Journal,” big banks like Citi or Goldman Sachs (NYSE:GS) or UBS thought

they could sell the loans to investors but they haven`t been able to due to

the oil prices over the last nine months.

 

MATHISEN: Now to Europe, where heads of states are meeting in Belgium

to discuss Eurozone economic policies. But the main focus was Greece and

its precarious financial situation.

 

Julia Chatterley reports from the E.U. Summit in Brussels.

 

(BEGIN VIDEOTAPE)

 

JULIA CHATTERLEY, NIGHTLY BUSINESS REPORT CORRESPONDENT: The big hope

coming into this E.U. leaders summit in Brussels was that the Greek Prime

Minister Alexis Tsipras and Germany`s chancellor, Angela Merkel, could put

aside their differences and flush out some kind of interim solution to help

Greece meets its debt repayment and its wages and salary bills at the end

of this month and beyond.

 

Those hopes were dealt a swift blow early on. We heard from Angela

Merkel, saying that there will be no solution. That ultimately, it comes

down to the individual finance ministers to reach a deal.

 

The second blow came in the form of reports suggesting that the

European Central Bank was going to become even more tough on the Greek

banks, a real trigger for stressing the economy. And we thought the

reaction in the Greek debt market yield significantly higher over the

course of the session.

 

Ultimately, both leaders have their hands tied. Angele Merkel is tied

by German public sentiment. We`ve seen a real shift, even in the last few

weeks. One recent survey suggesting 59 percent of the population willing

to see Greece leave the Eurozone. And if we look at Greek Prime Minister

Alexis Tsipras` position, he`s also bound by the promises that he made to

the Greek people, we`ve been talking about these for weeks, but also the

deal that he signs just over a month ago when he said without reforms,

without implementation of the reforms, there will be no cash.

 

This is where the situation remains. The clock still ticking on

Greece`s economy.

 

For NIGHTLY BUSINESS REPORT, I`m Julia Chatterley in Brussels.

 

(END VIDEOTAPE)

 

HERERA: Still ahead, a key tax deadline is looming and if you miss

it, it could cost you a lot.

 

(MUSIC)

 

HERERA: General Motors (NYSE:GM) CEO Mary Barra will be deposed over

a defective ignition switches. Barra will testify under oath in October,

along with other current and former GM employees. In addition to the

litigation, the automaker is under investigation by the Justice Department.

It could result in a fine.

 

MATHISEN: In a rare display of bipartisanship, House Speaker Boehner

and Minority Leader Nancy Pelosi say they are close to fixing a

longstanding problem surrounding how Medicare pays doctors. For years,

Congress has passed temporary patches override so that physicians don`t

take a major cut in reimbursements. Now, this deal being hashed out would

make a fix permanent.

 

(BEGIN VIDEO CLIP)

 

REP. JOHN BOEHNER (R-OH), SPEAKER OF THE HOUSE: I`m encouraged by the

progress our committees are making and permanently resolve the so-called

“Doc Fix”. As you all know, we`ve had to patch these doctor payments 17

times over the last 11 years. I`ve been committed to finding a permanent

solution to this problem. It`s a chance to get rid of Washington`s most

infamous budget gimmicks, but it`s also an opportunity to make structural

reforms to Medicare that mean better health care for seniors and real

savings to taxpayers.

 

(END VIDEO CLIP)

 

MATHISEN: The deal isn`t done yet but the April 1st deadline to do

something is fast approaching.

 

HERERA: The government has recovered more than $3 billion from

companies and individuals that try to defraud the government-run health

programs like Medicare and Medicaid. That`s according to a report from the

Departments of Justice and Health and Human Services. The administration

has recovered $7.70 for every dollar spent investigating the abuse in the

past three years. The number, though, is still small compared to the

numbers the FBI lost each year to health care fraud in this country.

 

MATHISEN: It`s been called one of the most important events for the

entire biotechnology industry this year. Tomorrow, a company Biogen Idec

(NASDAQ:BIIB) will shed light on its experimental drug for Alzheimer`s

disease. Since initial results of the drug were released in December,

shares have shot up in that company 40 percent.

 

Meg Tirrell takes a look at what to watch for, and what`s at stake.

 

(BEGIN VIDEOTAPE)

 

MEG TIRRELL, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over):

Biogen shocked everyone in December when it reported initial data from a

small study examining the safety of its experimental Alzheimer`s drug.

What people didn`t expect was that it would show signs of working as well.

Tomorrow, additional data from the study will reveal just how strong the

drug looks.

 

CHRIS RAYMOND, ROBERT W. BAIRD MANAGING EDITOR: We`ve had a few fits

and starts here with Alzheimer`s drugs. This class especially, we`ve had a

couple of fairly high profile, you know, call it failures. But I think

what`s got folks really excited is perhaps at this time, it`s a little

different.

 

TIRRELL: Biogen`s drug known as BIB 37 appeared to clear the amyloid

plaques in the brain associated with Alzheimer`s disease. It also looked

to stem decline cognition in memory and thinking clearly.

 

Biogen said on the strength of the results, it would move the drug

quickly into phase three clinical trials, the last stage before applying

for approval. Analysts say a successful drugs could mean big business.

 

Alzheimer`s affects more than 5 million people in the U.S., a number

expected to triple by 2050, according to the Alzheimer`s association. It`s

currently the sixth leading cause of death in the United States. And there

are no drugs on the market shown to slow the disease`s course.

 

RAYMOND: I would say, even with reasonable penetration numbers, this

could, with a straight face, be a $10 billion drug.

 

TIRRELL: That`s $10 billion a year.

 

Analysts are also looking closely at the drug`s safety. It did show a

side effect known as aria or amyloid-related imaging abnormalities. That`s

tied to removal of the plaques in the brain. It will be important to see

if Biogen can administer high enough doses to work without raising safety

risks.

 

(on camera): The stock has already risen almost 40 percent since data

came out in September, and analysts say we could see big swings tomorrow.

 

Eric Schmidt at Cowen estimates the stock could drop 20 percent if the

data are very disappointing, though he`s optimistic about the results. He

says the stock could gain 15 percent if the results are stellar, making

this one of the most anticipated events for the entire biotech industry

this year.

 

For NIGHTLY BUSINESS REPORT, I`m Meg Tirrell.

 

(END VIDEOTAPE)

 

MATHISEN: To read more about Biogen`s experimental Alzheimer`s drug,

head to our Web site, NBR.com.

 

HERERA: Lennar`s results signal a pickup in the housing market, and

that`s where we begin tonight`s “Market Focus”.

 

The home builder saw a rise in deliveries and prices, helping results,

despite severe weather, which weighed on sales in some parts of the

country. New orders also increased, which is a positive indication of the

company`s future performance. Still, shares fell a fraction to $49.65.

 

Michaels posted earnings and revenue that beat during the holiday

quarter, helped by the popularity of do-it-yourself projects. The craft

retailer CEO says social media is helping to drive business.

 

(BEGIN VIDEO CLIP)

 

CHUCK RUBIN, MICHAELS CEO: When you think about the digital aspect

about being inspired through social media or Pinterest or Facebook

(NASDAQ:FB) or the marketplaces like Etsy or online education where people

want to learn how to personalize and customize something, which is really

the business that we`re in, the digital arena really plays well to

Michaels.

 

(END VIDEO CLIP)

 

HERERA: The company`s profit outlook for the year is a bit soft,

which it`s blaming on currency issues and West Coast port delays. Still,

the stock closed a fraction higher at $29.42.

 

Hewlett-Packard (NYSE:HPQ) is hiking its quarterly dividend again,

this time by 10 percent. The new payout of about 18 cents a share has a

yield of about 2.1 percent. Still, shares of HP were down slightly to

$32.84.

 

MATHISEN: Nucor (NYSE:NUE) lowering its first-quarter earnings

forecast because of a high level of steel imports that`s pushing prices

down. The company expects imports to slow down in the second quarter, but

still remain at high levels. This as the stronger dollar has made imports

cheaper and steel from China has flooded the market. Shares tumbled more

than 6 percent to $46.10.

 

Shares of Yelp tumbling today after a documentary trailer was posted

on a fund-raising Web site Kickstarter that accuses the company of

extortion. The film called “Billion Dollar Bully” suggests the company

features negative reviews for businesses that do not pay to advertise on

Yelp. Shares were off 3.5 percent to $45.18.

 

Regulators have decided that Bank of America (NYSE:BAC) must allow

shareholders to vote on whether the bank should form a plan to break itself

  1. The proposal comes from a member of a consumer advocacy group and

calls for an independent director panel to develop a plan for divesting all

of the banks non-core businesses. Shares of B of A down more than 2

percent to $15.61.

 

HERERA: And now to our segment on the tax deadlines.

 

An important date is approaching for people required to withdraw from

their retirement accounts, but many could miss it because this is not the

time of year generally that many retirees and investors are focused on

their retirement savings.

 

But Tim Maurer said not doing so could have some expensive

consequences. He is director of personal finance with BAM Alliance and a

member of the CNBC Digital Financial Advisers Council.

 

Welcome, Tim. It`s nice to have you here.

 

TIM MAURER, BAM ALLIANCE DIRECTOR OF PERSONAL FINANCE: Great to be

here. Thank you very much.

 

HERERA: Let`s start first of all with the deadline. There are some

deadlines that are looming out there that people may not be aware of and

one of them has to do with people who are turning basically 70 1/2. Tell

us about that.

 

MAURER: Yes, Sue. If we have saved in 401(k)s and traditional IRAs

for most of their career, hopefully, we get the tax benefit of deduction

over that time but the government wants that to come out of those accounts

to reap the tax benefits when we retire. Once you reach age 70 1/2, I

cannot explain why the half number, but once you reach 70 1/2, you`re

forced to take money out of your retirement account, so the required

minimum distribution.

 

You should be taking your required distributions by September 31st

each year. However, in the first year after you turn 70 1/2, they allow

you to delay your first required minimum distribution until April 1st. So,

this serves notice to anyone out there, if you turned 70 1/2, you might

have to do a little math to figure out exactly when that was in 2014, if

you have not yet taken your required minimum distribution, you still have

until April 1st to do it, and that`s extremely important because the

penalty for not doing so is 50 percent of the amount that you were supposed

to take out.

 

MATHISEN: Fifty percent of the amount you were to take out. Not 50

percent of the balance in the account. This applies, Tim, to 401Ks, 403Bs,

457s, IRAs, Roth IRAs, rollover IRAs, SEP-IRAs, right?

 

MAURER: Not everything. The one that you mentioned to which it does

not apply, Tyler, is the Roth IRA. One of the key benefits of a Roth IRA,

is that you actually do not have to take required minimum distribution and

especially since Roth IRAs allow your money to continue to grow and be

deferred tax-free, it`s one of the reasons I especially like the Roth IRA.

 

HERERA: So, Tim, are there exceptions? There always seems to be

exceptions to every rule. Are there exceptions in this particular rule or

not.

 

MAURER: There are, Susie. One is that if it`s your 401(k) we`re

talking about and you are still working for that company and you don`t own

over 5 percent of it, believe it or not, then you could not take

requirement and distributions from that 401(k).

 

You may, however, still have to take them out of your traditional

IRAs. The other exception is the Roth IRA. You do not have to take a

required minimum distribution if it`s your original Roth IRA. If it`s an

inherited Roth IRA, there again, other exception you will have to take a

minimum required distribution.

 

(CROSSTALK)

 

MATHISEN: So, how do I know how much I have to take out in a required

distribution, who tells me or do I calculate it myself?

 

MAURER: Well, you can calculate it yourself. But I highly recommend

you allow your custodian to do it. That is your Fidelity, your Schwab,

your TD Ameritrade (NASDAQ:AMTD), whoever the broker/dealer that handles

the custody of your retirement account, they would calculate it for you.

 

You may still want to double check it with your CPA. Do your own

math. The very first year you take required minimum distribution, it tends

to be 1/26th of the account value and then each year that you age, that

percentage increasingly goes up.

 

HERERA: You know, Tim, how many people do you think actually notice?

How much money are people really losing by not knowing this?

 

MAURER: Well, the good news, Susie, this is not a particular area of

enforcement in the past. But as we`ve been hearing for the last year, IRS

is really stepping up enforcement efforts.

 

HERERA: Oh, OK.

 

MAURER: My hope is quite frankly that this rule becomes more sensible

at some point in time in the future. That, I think, will help retirees

make better retirement decisions and tax decisions.

 

HERERA: On that optimistic note, thank you, Tim. Nice to see you

again, Tim Maurer.

 

MAURER: Good to see you, too.

 

HERERA: Ty?

 

MATHISEN: And coming up, for some small businesses, getting a loan

can be tough but now, some owners are starting to think outside the box and

outside the bank to get funding they need.

 

(MUSIC)

 

MATHISEN: Recall news to tell you about. Honda adding 5,000 cars to

its recall list, to fix potentially deadly Takata air bags. At least five

deaths have been linked in malfunctioning airbags in Honda products. This

brings the total number of recalled Honda and Acuras to 5.5 million.

 

HERERA: A judge has OK`d a $10 million offer by Target (NYSE:TGT) to

settle a class action lawsuit related to massive data breach in 2013.

That`s according to reports that were out today. The retailer will pay

individual victims who had their information stolen and suffered losses up

to $10,000.

 

MATHISEN: Getting a small business loan can still be tough even

though the economy has improved. Some banks who don`t want to originate

loans, but the void is filled by non-traditional lenders.

 

Sharon Epperson reports that helped one small business owner finance

his company`s rapid expansion.

 

(BEGIN VIDEOTAPE)

 

SHARON EPPERSON, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over):

There`s a special coffee craze brewing in New York City, and Joe Coffee is

at the forefront picking up steam.

 

JONATHAN RUBENSTEIN, JOE COFFEE FOUNDER: Once they discover, once

they sort of become part of your following, they won`t go anyplace else.

They find a way to go to Joe seven days a week.

 

EPPERSON: Joe Coffee owner Jonathan Rubenstein says his business has

a loyal following and that is enabled this family-run enterprise to expand

to 12 locations in just 12 years.

 

RUBENSTEIN: Twelve years ago, we really started by borrowing money

from family, from friends, we would give people little pieces of the

business in exchange, or we would just borrow money and give them interest.

 

EPPERSON: But at some point we had to say, OK, I`ve tapped all my

family, my friends, everybody invested in this. I know you still have

family members. So, for money, eventually you have to go outside and look

at lending.

 

RUBENSTEIN: That`s true, and that`s where I turned to and say, we

want do a new shop. Go raise the money.

 

EPPERSON: Brandon Wall, Joe Coffee COO, opted not to use a

traditional bank to secure financing.

 

BRANDON WALL, JOE COFFEE COO: We are at a new location. We want to

get that lease signed before one of our competitors finds it. We can`t

spend a month and a half or two months going through the traditional loan

process with a big bank.

 

EPPERSON (on camera): Small business lending has been slow to improve

even if the U.S. economy recovered, but there`s a new pop-up filling the

void. They`re making loans at less than $1 million to entrepreneurs who

are looking for a faster alternative to financing their business just like

Joe Coffee.

 

DAVID HABER, BOND STREET CO-FOUNDER & CEO: There are a handful of

different structural problems which make it difficult for banks to finance

the small business community, on the one hand with BASIL 3 requirements.

They`re forced to hold more capital on their balance sheet, for smaller

loan. So, often, it`s more profitable for them to make larger dollar loans

to bigger businesses than it is to make the thousands of smaller loans to

smaller companies.

 

EPPERSON (voice-over): Even for small businesses that are healthy,

profitable and growing, trying to get financing is a challenging place to

be, which is why Joe Coffee decides to go with small business lender Bond

Street to finance its 11th location.

 

RUBENSTEIN: If you see a space that`s great and you want it, you need

to be willing to commit and have the money in the bank.

 

WALL: In six business days, we were able to get $200,000, our 11th

location.

 

EPPERSON: And now, Bond Street is helping Joe Coffee finance another

location, and Steve is key. It`s that quick access giving a major jolt to

small businesses like Joe Coffee.

 

For NIGHTLY BUSINESS REPORT, I`m Sharon Epperson.

 

(END VIDEOTAPE)

 

MATHISEN: Interest rates on the loans offered by these non-

traditional lenders are comparable to those offered by banks on the low end

but the range is much wider. For example, the interest rate on a bank loan

could range anywhere from 5 percent to 10 percent but could go as high as

20 percent from a non-traditional lender.

 

HERERA: And that does it for NIGHTLY BUSINESS REPORT for tonight.

I`m Sue Herera. Thanks for joining us.

 

MATHISEN: And I`m Tyler Mathisen. Thanks from me as well. Have a

great evening, everybody, and we`ll see you back here tomorrow.

 

END

 

Nightly Business Report transcripts and video are available on-line post

broadcast at http://nbr.com. The program is transcribed by CQRC

Transcriptions, LLC. Updates may be posted at a later date. The views of

our guests and commentators are their own and do not necessarily represent

the views of Nightly Business Report, or CNBC, Inc. Information presented

on Nightly Business Report is not and should not be considered as

investment advice. (c) 2015 CNBC, Inc.

This entry was posted in Transcripts. Bookmark the permalink.

Leave a Reply