Transcript: Nightly Business Report – November 11, 2016

NBR-ThumANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen and Sue
Herera.

TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: Turning point. Is stock
kicking back? Why now may be the time to change your investment strategy.

Post-election portfolio. What names should you consider buying now that we
know who will be in the White House come January.

And building a business. We`ll introduce you to some veterans who went
from active duty to active entrepreneur.

Those stories and more tonight on NIGHTLY BUSINESS REPORT for Veterans Day,
Friday, November 11th.

Good evening, everyone, and welcome. I`m Tyler Mathisen. Sue Herera is
off tonight.

Well, the Trump bump didn`t slump but it did flatten a bit today. It was
still enough of a Dow to close at an all-time high. The recent run up
powered by investor optimism that the president-elect`s policies could lift
the economy was enough to give the Dow its best week, and get this, five
years. Today, the Dow Jones Industrial Average rose 40 points to a record
18,847. NASDAQ added 28, and S&P 500 — well, it kind of fell a little by
three.

For the week, the blue chip index climbed more than 5 percent. The NASDAQ
and S&P were both up 3.8 percent.

But how much gas is left in this market`s tank?

Bob Pisani takes a look.

(BEGIN VIDEOTAPE)

BOB PISANI, NIGHTLY BUSINESS REPORT CORRESPONDENT: Stocks lost some speed
today, but that should come as no surprise after the Dow hit record highs
this week. The big question right now is, how long can the rally go on?

Take banks and drug stocks, for example, both rallied big-time this week on
the perception that fewer regulations and oversight will transfer into more
profits for drug companies and bank companies. These sectors can only go
so far without specific detailed legislation on what will happen, for
example, to Obamacare, drug pricing and Dodd/Frank regulations on banking.

Drug stocks, for example, were down. A letter signed by 600 doctors urged
Trump to push for the government to be able to negotiate Medicare drug
prices. That would certainly result in lower prices for seniors, but it
would also result in lower profits for drug companies.

And that brings up an interesting debate. How far does all of this go? Do
Trump supporters really support the potential for higher drug prices and
removing bank regulation that was put in place, in theory, to protect them?

Well, one thing is for sure, Trump`s win has given the brokerage firms and
asset managers a notable boost. So, E*TRADE, Charles Schwab, and TD
Ameritrade (NASDAQ:AMTD) were all up double digits this week, trading has
been twice normal and that definitely means higher profits for trading
firms.

For NIGHTLY BUSINESS REPORT, I`m Bob Pisani, at the New York Stock
Exchange.

(END VIDEOTAPE)

MATHISEN: For years now, investors have been pouring money into passive
index funds. They`ve been passing up actively managed portfolios. But the
last couple of days while lifting the indexes, of course, have also
spotlighted individual sectors and stocks. Some have bounced, others have
been trounced.

So, will active stock picking Trump indexes in this new political era?

Joining us now to discuss is the veteran financial journalist and author
and my friend, Ron Insana.

Ron, good to have you.

RON INSANA, FINANCIAL JOURNALIST: Good to see you.

MATHISEN: We can call ourselves veterans now. We`ve been around so long.

INSANA: We have been around — for many of these financial wars, yes.

MATHISEN: Many of these wars.

Talk a little about, it is two days into this Trump interregnum, about the
idea that stock picking, picking individual sectors, individual shares may
have a bit of a renaissance because the effects of a Trump presidency may
spotlight individual sectors.

INSANA: Well, it is the first time in a while that we`ve seen expectations
of macroeconomic policy or federal government policy having an impact on
whether it`s defense spending, health care, finance. All of those
industries now are in for either deregulation, lower tax rates, a whole
host of things that Donald Trump has talked about as candidate. President-
elect Trump now discussing more completely in the interim period and then
likely to act on these things in the first 100 days of his office.

So, the market sniffed that out right away, even being down 900 points
election night in the futures market, that turned around on a dime.

MATHISEN: So there are certain things that he can do in his first 100 days
unilaterally.

INSANA: Absolutely.

MATHISEN: There are a lot of things he can`t do without Congress, a lot of
things that could get hung up in the courts.

So, are people who are making big bets on sectors or individual companies,
are they leaving themselves open to disappointment if some of those
deregulatory changes are slow or don`t happen?

INSANA: When he said in the campaign he was going to roll back 70 percent
of the 20,000 federal regulations that exist. He also can do some of those
things unilaterally. Even with a friendly Congress, there`s a good chance
whether it`s defunding elements of Dodd/Frank, whether it`s defunding
elements of the Affordable Care Act, although he did make some relatively
compromising comments today about what stays and what might go. With
respect to trade policy, we`ll have to wait and see on that.

But, you know, you look at something like the Department of Labor fiduciary
standards rule, it`s getting in the weeds a little bit when it comes to
financial industry policy but this was the item that forced financial
advisers to disclose conflicts, compensation, and also act in a client`s
best interest by rule. That`s going to maybe be the first thing to be
washed away. So, brokerage stocks reflected owner compliance.

MATHISEN: So, back to our initial thought, does it change the idea that
indexes really ought to be the core of a lot of people`s portfolios.

INSANA: It may be the core, but you have to think about satellite. Let`s
say he gets $3 trillion to $6 trillion tax cut, whatever the size of that
is. We see a reduction in tax rates. We see fiscal stimulus, see the
economy grow faster, earnings having troughed out six quarters in a
downside.

MATHISEN: Right.

INSANA: Those start to improve. The general market goes up, but there
will be sectors that you want to be involved with, sectors you want to
avoid based on policy. So, a blend of passive and active probably makes
the most sense now.

MATHISEN: All right. Ron, thanks very much.

INSANA: Good to see you, friend.

MATHISEN: Good to see you.

All righty. The vice chair of Federal Reserve said he welcomes possibility
of more fiscal stimulus out of Washington, something President-elect Trump
has promised to deliver. In his first comment since the election, Stanley
Fischer also suggested that the Central Bank almost reached its goals for
maximum employment and price stability, and it is getting closer — yes
closer — to raising interest rates. Policymakers meet again next month.

Billionaire investor Warren Buffett who was a vocal backer of Hillary
Clinton said it is important that the American people coalesce behind the
president-elect. In an interview with CNN, he also said the stock market
will be higher 10, 20, 30 years from now. News flash. And that any notion
that stocks would plunge if Mr. Trump won were silly.

When it comes to Wells Fargo (NYSE:WFC), Buffett says he has not sold a
single share of his big holding there since the bank admitted to creating
fake accounts.

Well, the deregulation of certain industries is expected during the Trump
administration as we were just discussing. Today, we learned a bit more
about what the president-elect plans to do with bank rules.

Eamon Javers is following the story from Washington.

Let`s start, Eamon, with Dodd/Frank, the set of Wall Street reforms that
emerged from the financial crisis. What can we expect there?

EAMON JAVERS, NIGHTLY BUSINESS REPORT CORRESPONDENT: Well, what you were
looking at here probably is not an entire rollback of Dodd/Frank but sort
of more rifle shots, individual provisions that they would like to see
rolled back, both newly ascendant Republicans on Capitol Hill, incoming
Trump administration, and also a lot of banking lobbyists say fiduciary
rules for one thing need to be fixed. They`d like to fix the way financial
services oversight council designates systematically important financial
institutions, the so-called too big to fail rule, they don`t feel that`s
fair to businesses that are being considered as designees there. So,
there`s a lot there.

We`re also learning Donald Trump might be a little bit more flexible on
regulation that we thought necessarily. “The Wall Street Journal” had an
interview with him this afternoon in which he said he might keep portions
of Obamacare, particularly the very politically popular measures that would
allow parents to keep their children on their health care for an extended
period of time. And also, this idea you couldn`t block anybody with pre-
existing conditions from health care. Those are very popular items.

Trump said that after talking with President Obama yesterday, he`s
reconsidering and he thinks he might want to keep those two provisions as
part of an Obamacare overhaul, whatever he does. So, it looks like you`re
looking at more rifle shots than overall repeal and replace.

MATHISEN: Mr. Trump, if nothing else, has been known throughout his career
as a dealmaker. So there will probably be lots of little deals like that
one cut.

There are also some changes today, Eamon, in his transition team. Tell us
about it.

JAVERS: Right. Well, Governor Chris Christie has been running that
transition team. That was something set up over the summer up to Election
Day. It`s sort of a hypothetical thing. It takes less precedence than the
campaign itself.

Now, though, the Trump folks have said that the Vice President-elect Mike
Pence will now be running the transition effort. Chris Christie bumped
down to council of executive committee vice chair.

As you can see some of them there, Lieutenant General Michael Flynn, Rudy
Giuliani, Senator Jeff Sessions of Alabama, those are the big names, the
figures that were out with Donald Trump on campaign trail, rode with him in
the plane, appeared with — by his side at the rallies. And those would
appear this early on to be the folks in line for the big cabinet positions
in a Trump administration, Tyler.

MATHISEN: All right. Eamon, thank you very much.

JAVERS: You bet.

MATHISEN: Eamon Javers reporting from Washington.

Donald Trump has also vowed to renegotiate the terms of the Iran nuclear
deal when he becomes president. And as Hadley Gamble reports from Dubai,
that is just one policy issue leaders in the Middle East are watching
closely.

(BEGIN VIDEOTAPE)

HADLEY GAMBLE, NIGHTLY BUSINESS REPORT CORRESPONDENT: Well, certainly,
there are some big questions about what happens next here in the region.
But no panic, at least not yet. Of course, first off, the Iran nuclear
deal, this is a signature foreign policy achievement of the Obama
administration, and a lot of questions surrounding whether or not
President-elect Trump will attempt to appeal any part of that deal. If
he`s successful in doing so, whether or not that`s going to have any impact
on the country`s ability to produce oil and whether or not prices could go
up. Of course, that would be good news for private sector here in GCC.

Another big question, of course, is whether or not this rapprochement with
Iran is going to impact the relationship with Iran and the rest of the Gulf
countries. Saudi Arabia in particular hoping, of course, that they`d be
speaking to people that they have spoken to many years before in a Hillary
Clinton administration. A lot of questions now about whether or not
President-elect Trump is going to be amenable to returning a more
traditional foreign policy here in the region.

A lot of questions for them — but also some optimism as we`ve seen over
the last 24 hours or so, leaders across the Middle East, including King
Salman of Saudi Arabia, reaching out to president-elect to congratulate
him.

We also heard kind words from Benjamin Netanyahu, Israeli prime minister,
he seemed rather thrilled that there would be, as he called, a friend of
Israel back in the White House.

So, a lot of questions but even perhaps some optimism here in the region.

For NIGHTLY BUSINESS REPORT, I`m Hadley Gamble.

(END VIDEOTAPE)

MATHISEN: The co-founder of delivery service GrubHub said he did not ask
any of his employees to resign if they voted for Donald Trump. Some have
said that an e-mail sent by CEO Matt Maloney suggested supporters of the
president-elect should leave the company. Maloney has since posted a blog
saying he welcomes all employees regardless of their political views.

And the made in the USA sneaker maker New Balance is quite literally coming
under fire for a tweet related to Donald Trump`s trade policies.

Aditi Roy reports tonight from San Francisco.

(BEGIN VIDEOTAPE)

ADITI ROY, NIGHTLY BUSINESS REPORT CORRESPONDENT: Whoever thought making
shoes in the U.S. would prove controversial. But sneaker maker New Balance
finds it`s self in a firestorm of controversy with some inflamed customers
burning or tossing away their shoes and posting the videos on social media.

The reason? New Balance has long been an opponent of the Trans Pacific
Partnership, claiming it helped foreign manufacturers at the expense of
companies that manufacture in the USA. After Donald Trump won the
election, a company spokesman told “The Wall Street Journal,” “The Obama
administration turned a deaf ear to us. And, frankly, with President-elect
Trump, we feel things are going to move in the right direction.”

The privately held company`s statement is, in part, rooted in Trump`s
opposition to Trans-Pacific Partnership agreement, a free trade agreement
among a dozen Pacific Rim countries that would slash tariffs on shoes
imported from Vietnam. The deal does not include China.

The Boston-based company has long opposed the deal for endangering the
sales of its domestically-produced shoes in favor of competitors that rely
more on overseas production.

In a statement to CNBC, the company says, “New balance has a unique
perspective on trade in that we want to make more shoes in the United
States, not less. New Balance publicly supported the trade positions of
Hillary Clinton, Bernie Sanders and Donald Trump prior to Election Day.”

Some customers, however, are supporting new balance on social media. In
response to the negative tweet, one customer wrote, “Not in my family. We
all went and bought New Balance shoes,” encouraging others to do the same.

One of New Balance`s competitors, Nike (NYSE:NKE), has more robust overseas
operations and supports TPP. The company said the deal could create 10,000
new engineering and manufacturing jobs in the U.S. over the next decade.

For NIGHTLY BUSINESS REPORT, I`m Aditi Roy, San Francisco.

(END VIDEOTAPE)

MATHISEN: Still ahead, how a Trump presidency could affect your portfolio
and the stocks you may want to consider buying.

(MUSIC)

MATHISEN: A record day for Alibaba, thanks to a holiday it helped create.
Today is singles day in China. A day where people in that country are
encouraged — single people that is — to buy presents for themselves. And
shop they did, to the tune of nearly $18 billion, the most ever.

Eunice Yoon has more tonight from Beijing.

(BEGIN VIDEOTAPE)

EUNICE YOON, NIGHTLY BUSINESS REPORT CORRESPONDENT: This year`s Singles
Day isn`t about big sales numbers. Instead, the message from this massive
online shopping day here to the U.S. is don`t forget the power of the
Chinese consumer.

Singles Day is an event here that celebrates Chinese vendors. It started
out as a small gift giving occasion for lonely hearts years ago and then it
ballooned into a massive shopping extravaganza that makes it even bigger
than Cyber Monday and Black Friday combined.

Now, at Alibaba`s event, Joe Tsai, one of the executives at that company,
weighed in on Trump`s presidency. He said the U.S. president needs to
remember that Chinese consumers buy American products which supports job
creation there.

JOSEPH TSAI, ALIBABA EXECUTIVE VICE CHAIRMAN: If you`re the American
president, you have to pay a lot of attention because your job is to create
a lot of jobs in American society. If you don`t have Chinese consumers
being engaged and buying American products and Chinese investors can`t
invest in the United States and create more American jobs, then you`d be in
trouble.

YOON: Separately, rival JD.com said Chinese consumption of U.S. good is a
positive for both countries, underscoring the importance of the U.S.-China
relationships, JD recently partnered with one of America`s best retailers,
Walmart.

Walmart is leveraging off of JD`s logistics network and opened a Sam`s Club
store on the Chinese site.

HAOYU SHEN, JD.COM INTERNATIONAL PRESIDENT: To partner with JD, to have a
store on JD will be very beneficial for Sam`s Club, because they don`t have
the reach yet, although they are building at a number of locations.

YOON: Walmart`s investment in JD is meant to broaden the U.S. retailers
overall strategy to beef up sales online.

The Chinese consumer has been playing a bigger role in economic growth both
here as well as in the rest of the world, but the uncertainty around
Trump`s victory and his aggressive talk on China during his campaign is
raising questions among many economists who worry that China`s economy
already facing a slowdown could face even further headwinds into next year,
which might not bode well for China`s consumers.

For NIGHTLY BUSINESS REPORT, I`m Eunice Yoon, in Beijing.

(END VIDEOTAPE)

MATHISEN: Sales slow at JCPenney. That`s where we begin tonight`s “Market
Focus”.

The department chain posted an unexpected decline in same-store sales and
cut guidance for the year claiming weak demand for apparel and lower foot
traffic. The company did see its loss narrow but revenue was below
estimates. Nonetheless shares up almost 4 percent to $9.16.

Meantime, shares of Nvidia continue to surge today following better than
expected earnings after the bell yesterday. The technology company said
its results were largely helped by strong sells of its chips used for
computer games. Nvidia also hiked its quarterly dividend by 22 percent to
14 cents a share. Shares soared nearly 30 percent today to $87.97.

LifeLock may be exploring a sale. Bloomberg said the identity theft
protection company is in talks with several groups regarding a potential
acquisition with final bids due this month. It is estimate add deal could
value life lock at about $2 billion. Shares finished today up 8 percent at
$19.12.

And as we told you last night, Disney (NYSE:DIS) reported lower than
expected quarterly earnings with results hurt by weakness in the
entertainment giant`s sports network, ESPN. But the video Bob Iger said
while ESPN faces challenges, he`s bullish on the future.

(BEGIN VIDEO CLIP)

BOB IGER, DISNEY CHAIRMAN & CEO: Our outlook for ESPN is very positive.
We know we`ve got comparability factor in `17 due to the NBA. We`re
looking at a category, live television sports, that`s generally very
healthy. It adapts very well to mobile platforms and that`s where we`re
moving ESPN.

So, we feel really good about ESPN. We`re dealing with some near term
issues. Eyes wide open on that. Not trying to hide anything. But we
think long-term prospects for ESPN are just fine.

(END VIDEO CLIP)

MATHISEN: And Disney (NYSE:DIS) shares rose nearly 3 percent to $97.68.

And now to our market monitor who has some stock picks he hopes will be
propitious during the new Trump administration. This is his firs time
joining us on the program, he`s Andy Kapyrin, financial partner and adviser
at money management firm Regents Atlantic.

Andy, welcome. Good to have you here.

ANDREW KAPYRIN, REGENTATLANTIC FINANCIAL ADVISOR: It`s such a pleasure to
be here.

MATHSEN: We`re delighted to have you.

You think this two-day rally, it`s early, ladies and gentlemen, could be
the harbinger of better things to come. You see the possibility of the
bull market extending for a couple more years?

KAPYRIN: I certainly think so. Bull markets don`t die of old age. They
die when earnings stop growing, they die when earnings start to decline and
when there`s some fundamental economic risk.

The U.S. economy, we`ve grown so slowly over the past few years we`re not
really at risk of recession. If anything, the new reality in Washington
creates the possibility for the next leg up.

What has been absent from this economic growth we had over the past few
years, it`s fiscal stimulus. The Fed has basically been carrying the ball
the entire time and now the Fed is backing away, raising interest rates.

MATHISEN: And we had a profit slowdown over the last year or so and the
market kept moving a little bit higher.

Let`s get to your stock pick. Interesting here, none of them happened to
be specifically infrastructure plays. That was kind of fiscal spending.

Let`s start with Cisco (NASDAQ:CSCO). How do you like it? What do you see
this there?

KAPYRIN: So, what`s interesting about the tech sector in general, and
Cisco (NASDAQ:CSCO) specifically, is over the past several years, American
tech companies have been hoarding cash abroad. Now, there`s reasons for
that, but the single biggest one is we have a punitive tax rate to earn
profits abroad and bring them back home as cash.

The last time, we had —

MATHISEN: Some people keep the profits overseas.

KAPYRIN: They do. They wait for a better opportunity to bring it home and
here is why. Last time we had clean sweep for Republicans in the White
House, and in both chambers of Congress. One of the things that Washington
did was passed a law that allowed those companies to bring profits back
home at much lower tax rate than the statutory 35 percent. That is not
only entirely possible this time around but actually highly likely.

Why is that good for Cisco (NASDAQ:CSCO)? Cisco (NASDAQ:CSCO) is one of
those companies that stashed tens of billions of profits abroad. What is
this going to allow Cisco (NASDAQ:CSCO) to do? One, pay a very high one
off special dividend. Microsoft (NASDAQ:MSFT) is a good example of that.
The last time Republicans did this, they paid an 11 percent one-time
special dividend.

MATHISEN: All right. Let`s move on to number two. Another big blue chip,
and that`s Johnson & Johnson (NYSE:JNJ).

KAPYRIN: Johnson & Johnson (NYSE:JNJ), another sector that`s likely to
benefit from the Republican administration. It`s really one that suffered
from fears of a Democratic administration. Pharma companies have been
attacked by Hillary Clinton and others in the Democratic Party about drug
prices. That`s one of the reasons health care is so expensive in the U.S.

That fear evaporated in the matter of two days. You saw companies like
Pfizer (NYSE:PFE) rise by almost 10 percent in that two-day period.
Johnson & Johnson (NYSE:JNJ) is a good play. One, it`s much more
diversified, not just pharmaceutical company. They make everything from
band-aids to drugs to medical devices. So I think it`s a better way to
invest.

MATHISEN: We`ve got 30 seconds on Northrop Grumman (NYSE:NOC). This is
one is a bet that the defense spending will go up in a Trump
administration.

KAPYRIN: Republicans in general tend to be pro-defense and pro-defense
spending. So, it`s not necessarily a view on Trump`s policies or his
priorities, but really Northrop Grumman (NYSE:NOC) is a very large and
significant defense contractor and they`re likely benefit from the
administration.

MATHISEN: Andy, thanks very much.

KAPYRIN: Thank you.

MATHISEN: Andy Kapyrin, we appreciate it. We`ll have you back.

All righty. Coming up, a new mission for some of America`s vets, running a
business.

But, first, how commodities and currencies fared today. The bond market
closed for Veterans Day.

(MUSIC)

MATHISEN: Today, Americans came together to honor those who have served
the nation on this Veterans Day. President Obama paid tribute by laying a
wreath at the Tomb of the Unknowns in Arlington.

During an address, he thanked the nearly 19 million Americans for their
service and said veterans offer a unifying example of what`s right with the
U.S.

And on Wall Street, the New York Stock Exchange, traders observed a moment
of silence.

One in ten small businesses is veteran owned. Making a transition from the
structured world of the military to more improvisational one of private
enterprise can be a challenge.

Dina Gusovsky tells us how a few good men and women were able to do it.

(BEGIN VIDEOTAPE)

UNIDENTIFIED MALE: We went up and down the highway inspecting the roads to
see if there`s anything out of the ordinary.

DINA GUSOVSKY, NIGHTLY BUSINESS REPORT CORRESPONDENT: Army Sergeant
Raymond Collazo went from clearing explosive devices from Afghanistan`s
roads to trying to navigate another territory also foreign to him, the
business world.

RAYMOND COLLAZO, FILMLINKUP FOUNDER: So just like in war, it`s completely
unknown.

GUSOVSKY: He founded a company called FilmLinkUp.

COLLAZO: I can send messages to different people.

GUSOVSKY: It`s meant to be a social media platform for students in film,
media and theater.

COLLAZO: Our main focus is connecting the students who they need to be
part of their crew. And those production companies, their assistance with
their media and projects.

I think the hardest part has been continuing to navigate in a sea of the
unknown.

GUSOVSKY: But for Raymond, and over a dozen other veteran startup —
navigating those unknowns was made easier with the health of people like
Brock Bosson.

BROCK BOSSON, FORMER MILITARY PROSECUTOR: They have the technical skills
and they have those capabilities.

GUSOVSKY: A former military prosecutor himself, who now gives legal advice
pro bono to veterans who want to start their own business, through his New
York-based law firm Cahill Gordon & Reindel.

BOSSON: We`re there to bridge that gap in materials of the legal and
business side of things.

LINDA BROWNE, FORMER AIR FORCE LT. COLONEL: What do you think about the
schedule?

Twenty years has a position in the military. And I retired as a lieutenant
colonel.

GUSOVSKY: Linda Browne who opened soul food cafe in New York City a few
months ago was able to take advantage of those services.

BROWNE: They really led us and guided us through the maze of all the
legalities of opening up a business.

GUSOVSKY: According to the Small Business Administration, nearly one in
ten small businesses in the U.S. are veteran-owned generating over $1
trillion in sales. Veterans are also about 45 percent more likely to be
self-employed than nonveterans.

BOSSON: Veterans have so much to bring to the economy and workforce. Law
firms, consulting firms, accountants can bring one-on-one technical advice
to veterans who are starting new businesses.

GUSOVSKY: Linda`s advice for veterans looking to take on a new challenge
after transitioning to civilian life.

BOSSON: You have you to have a really good business plan, stick to it. If
you do it, you can do it. You really can.

GUSOVSKY: For NIGHTLY BUSINESS REPORT, I`m Dina Gusovsky.

(END VIDEOTAPE)

MATHISEN: Boy, that was good.

All right. Veterans were given counsel on everything, from drafting
articles of incorporation, to following all appropriate laws and procedures
when setting up shop. Those advising him say who better to know benefits
of hiring next generation of vets than veterans themselves.

And that is NIGHTLY BUSINESS REPORT for Veterans Day. I`m Tyler Mathisen.
Thanks for watching. Thanks for serving.

Have a great weekend. We`ll see you Monday.

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) 2016 CNBC, Inc.

 

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