Transcript: Nightly Business Report – June 26, 2017

ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen and Sue
Herera.

SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Health care impact. How would
the Senate bill affect the uninsured? What about premiums and the deficit?
These questions answered.

TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: In the spotlight. Why an
American manufacturer finds itself at the center of the deadliest London
fire in decades.

HERERA: Too far? Is the minimum wage hike in Seattle hurting the very
people it was supposed to help?

Those stories and more tonight on NIGHTLY BUSINESS REPORT for Monday, June
26th.

MATHISEN: Good evening, everyone, and welcome. And it is great to be
here.

The numbers are in and some key questions about the Senate health care bill
have been answered. The nonpartisan Congressional Budget Office estimates
that the number of people who would be uninsured would increase by 22
million by 2026. That`s compared with the number under the current law.
The scoring also found that premiums would rise substantially before they
fell, and that the legislation would decrease the budget deficit by more
than $300 billion, principally via federal Medicaid cuts.

Now, these numbers will be analyzed and then some by senators ahead of a
potential vote on the legislation later this week.

Health care stocks were mixed on Wall Street today as were the major
averages as you see there. The Dow Jones Industrial Average added 14 to
21,409, NASDAQ off 18 and the S&P 500 rose fractionally.

And health care, of course, isn`t the only thing investors will be watching
this week. Bob Pisani looks ahead.

(BEGIN VIDEOTAPE)

BOB PISANI, NIGHTLY BUSINESS REPORT CORRESPONDENT: It will be a busy week
for the markets on economic news, earnings and Fed officials speaking. Fed
Chair Janet Yellen speaks tomorrow on London on global economic issues.

It`s been rough for economic news recently. The news in the second quarter
has not been much more positive than the first quarter. Durable goods
today were weaker than expected for May. Look at consumer confidence for
June tomorrow. Confidence has been climbing all year, though it did slip a
bit in May. We`ll also get personal income and spending for May on Friday.
Income has been flat, but spending has been trending up this year.

The health care industry from insurers to hospitals will be watching what
happens in Washington, a vote by the Senate on its health care bill could
come Thursday. We`ll also get earnings reports from General Mills
(NYSE:GIS), Micron and Nike (NYSE:NKE), its early in the second quarter for
earnings on the 11 companies on the S&P have reported so far. But it`s
been good, eight of the 11 have beaten the estimates. That`s higher than
normal.

But more importantly, analysts seem encouraged by what they`re hearing from
these early reporters. Only four of the 11 companies reporting have seen
their earnings estimates for the third quarter go lower after reporting.
That`s a good sign. For the past several years, analysts generally lowered
their future earnings estimates after company reports.

All right. It`s too early to call this a major trend, but if it keeps up
the bulls will seize on it as another reason to keep the rally going.

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

(END VIDEOTAPE)

HERERA: And as investors wait that possible health care vote on Thursday,
Senate Republicans have issued a revised draft of their bill. The new
provision would penalize consumers for not keeping their plans by imposing
a six-month waiting period before they could reenroll. The hope is that
that would incentivize younger healthier Americans to maintain their health
insurance.

MATHISEN: And also in Washington today, the Supreme Court said it would
allow partial implementation of the president`s temporary travel ban
affecting people from seven mostly Muslim nations. The justices will give
closer consideration to the case in October when they will hear oral
arguments and the business world will be watching.

Hampton Pearson has our story.

(BEGIN VIDEOTAPE)

HAMPTON PEARSON, NIGHTLY BUSINESS REPORT CORRESPONDENT: The Supreme Court
revival of the Trump travel ban on travelers from six Muslim majority
countries is a reversal of fortune for President Trump, who had been on the
losing end of several lower court rulings that blocked his original
executive order issued last March.

The president released a statement calling the high court`s action a clear
victory for our national security. He said it allows the travel suspension
for the six terror-prone countries and the refugee suspension to become
largely effective. The justices issued an order that allows the Trump
administration to implement part of a temporary ban. It cannot be
enforced, the high court says, against travelers, quote, who have a
credible claim of a bona fide relationship with someone or some
organization in the U.S. Three of the court`s more conservative justices,
Clarence Thomas, Neil Gorsuch, and Samuel Alito said the court remedy will
prove unworkable and invite a flood of lawsuits.

AMY HOWE, SCOTUSBLOG EDITOR: This is going to be a lit the bit of a
logistical nightmare because authorities are now going to have to decide
when someone applies for a visa from one of these six Muslim countries,
does this person have enough of a connection to the United States?

PEARSON: The travel industry is already raising concerns. The CEO of
Airbnb on Twitter saying a travel ban has always been bad policy.
TripAdvisor is still concerned about the impact on refugees.

And the chief executive from Royal Caribbean Cruise Line urging caution.

RICHARD FAIN, CEO, ROYAL CARIBBEAN CRUISES: In travel business, you don`t
like any kind of a travel ban.

PEARSON: The travel ban is part of a bigger struggle between the Trump
administration and business. Some of the same high-tech firms that met
last week with President Trump at the White House have filed briefs saying
the travel ban hurts U.S. competitiveness and there were reports Apple
(NASDAQ:AAPL) CEO Tim Cook told President Trump, technology employees are
nervous about the administration`s approach to immigration.

In addition to the travel ban, when the justices return this fall, already
on the calendar are issues concerning gay rights, voting rights and
possibly overturning whistleblower protections enacted as part of the
Dodd/Frank financial reform laws.

I`m Hampton Pearson, NIGHTLY BUSINESS REPORT, at the Supreme Court.

(END VIDEOTAPE)

HERERA: And at the White House, President Trump welcomed the head of one
of the world`s fastest growing economies. He met with India`s prime
minister and the two agreed to work closely on economic and security
matters. India is also a market that many American CEOs would like more
access to.

Seema Mody takes a look at the economic ties that bind the two countries.

(BEGIN VIDEOTAPE)

SEEMA MODY, NIGHTLY BUSINESS REPORT CORRESPONDENT: Prime Minister Modi`s
first face-to-face meeting with President Trump will be more about
relationship building and establishing trust as India has been somewhat
absent from this administration`s foreign policy discussions that have been
dominated by China, Russia and Mexico.

This weekend, Modi received a warm welcome from corporate America. Jeff
Bezos of Amazon (NASDAQ:AMZN), Sundar Pichai of Google (NASDAQ:GOOG), and
Apple (NASDAQ:AAPL) CEO Tim Cook all coming to D.C. to meet with the Indian
leader.

Tim, can we ask you questions about how the meeting went?

TIM COOK, APPLE CEO: It was fantastic.

MODY: India represents a significant economic opportunity for tech
companies in particular, with 277 million Internet users and mobile growth
on the rise making India the number-one market for Android. The guest list
of business executives wasn`t limited to the tech sector. CEOs of Walmart
and Mondelez were on hand. These consumer-facing brands hoping to
capitalize on India`s population of more than 1.3 billion, half of which
are under the age of 25. As Modi has prioritized moving India away from a
cash-dependent society to a banked one, companies like MasterCard (NYSE:MA)
and JPMorgan (NYSE:JPM) see opportunity.

What was Modi receptive to?

JAMIE DIMON, JPMORGAN CHASE PRES., CHMN. & CEO: He`s always receptive.
He`s very open. He`s very smart. He`s very receptive, and very action-
oriented.

MODY: Biggest sticking point you would say?

DIMON: I don`t think there was a sticking point per se.

MODY: During his visit, Modi will look for answers as to how India fits
into Trump`s agenda. And if he isn`t confident India will be prioritized,
that could post challenges for American companies looking to invest there.

DANIEL YERGIN, PULITZER PRIZE WINNING AUTHOR: I think there`s a lot of
recognition of how much has been done in the last three years, but how big
the agenda still is in order to move things, to move aside obstacles to
really promote investment in India.

MODY: Today`s meeting with Trump will be followed by a cocktail reception
and a working dinner, making Modi the first foreign head of state to dine
at the White House with the president, perhaps a nod to the importance of
this growing alliance going forward.

For NIGHTLY BUSINESS REPORT, Seema Mody, Washington.

(END VIDEOTAPE)

MATHISEN: Illinois is on track to become the first state to have its
credit rating cut to junk status. Such a move would deepen its deficit and
cost taxpayers more for years to come. S&P global rating says it could
lower Illinois` credit worthiness if lawmakers fail to agree on a state
budget for the third straight year. A junk rating would mean the state
would have to pay a higher interest rate when it borrows money, for things
like building roads or refinancing existing debt.

HERERA: Oil prices rebounded a bit today after falling to seven-month lows
last week. As we reported, that decline was due to supply concerns.
There`s simply too much of it. Drilling activity in the U.S. is climbing
undercutting recent OPEC production cuts. So, what might that mean for
stocks since equities tend to follow the move in oil prices?

Jackie DeAngelis takes a look.

(BEGIN VIDEOTAPE)

JACKIE DEANGELIS, NIGHTLY BUSINESS REPORT CORRESPONDENT: When oil prices
take dramatic tips, investors worry that stocks will follow, but some say
the market is changing and so is that trend. It`s happened before over the
last decade, we`ve seen the price of oil and stocks decouple twice, but for
different reasons and that`s the key.

In 2008, oil was at $145 as stocks were sinking. It took a while but
demand issues eventually took the crude price down with stocks.

In 2014, crude started another collapse from $107, but stocks have managed
to move steadily higher. That time it was a supply-driven story, the shale
revolution. Demands were not growing fast enough to absorb supply growth
but it was relatively robust.

DENNIS GARTMAN, THE GARTMAN LETTER: Stocks go up as crude oil goes down.
Stocks go down as crude oil goes up. And that`s immensely understandable
given the fact that energy is such an important input into the production
of almost anything and everything.

DEANGELIS: Now it looks like it`s happening again. Oil prices have fallen
more than 20 percent since their January highs, putting the commodity in a
bear market, while the stock bull run carries on. Lower for longer may not
be a phenomenon, but just the new normal. It`s good for consumers. It`s
good for companies that use crude. Not great for big oil, but most
companies have managed to bring costs down to carry on.

Lower prices may throw a punch to GDP, but you could argue that would keep
the Fed off balance and deter more tightening this year balance.

GARTMAN: On balance, I think you have a long protracted bear market in
crude. Now, you could get a small rally intraday. You can get a small
rally intraweek. You could get a month-long rally. But is it likely that
crude oil prices can get much above WTI, past $50 a barrel again? I
suspect probably not.

DEANGELIS: Also in 2008, energy companies were about 15 percent of the
S&P. Now, they`re about 6 percent. So, the earnings impact is less than
it was before.

The general consensus now that crude can still fall, but it won`t take the
market down with it.

For NIGHTLY BUSINESS REPORT, I`m Jackie DeAngelis.

(END VIDEOTAPE)

HERERA: Still ahead, why BMW`s biggest plant in the world is about to get
a little bit bigger.

(BEGIN VIDEO CLIP)

PHIL LEBEAU, NIGHTLY BUSINESS REPORT CORRESPONDENT: BMW is expanding in
South Carolina. How many jobs are being added? How much money is being
pumped into this plant? And what does it mean for BMW in the United
States?

I`m Phil LeBeau. That story coming up on NIGHTLY BUSINESS REPORT.

(END VIDEO CLIP)

MATHISEN: Shares of Arconic came under pressure today after the
manufacturer said it will stop selling a type of panel suspected to have
contributed to the spread of that deadly fire through a London apartment
building a few weeks ago. Arconic, which was created by Alcoa`s separation
into two companies, saw its stock fall about 6 percent.

Morgan Brennan has more on this latest development.

(BEGIN VIDEOTAPE)

MORGAN BRENNAN, NIGHTLY BUSINESS REPORT CORRESPONDENT: It was the worst
fire in London in decades. The deadly blaze at Grenfell Tower that has
left at least 79 people dead.

FIONA MCCORMACK, MET POLICE DETECTIVE SUPERINTENDENT: There are two points
of priority for me, the speed it spread through the building, but also the
internal spacey aspects of that building. On the first point, we are
examining with experts the aluminum cladding and the insulation behind the
cladding, how the tiles were fixed to the building and how it was
installed.

Preliminary tests on the insulation samples collected from Grenfell Tower
showed that they combusted soon after the test started. The initial tests
on the cladding tiles also failed the safety test.

BRENNAN: As investigators assess the damage and discuss possible
manslaughter charges, one supplier has been thrust into the spotlight —
Arconic.

Arconic made the aluminum cladding in question. Cladding widely
acknowledged as combustible and for that reason considered even by the
company, itself, to be a fire risk in high-rise construction.

For its part, Arconic saying, quote: While we public general usage
guidelines, regulations and codes vary by country and need to be determined
by the local building code experts.

It also announced it`s halting global sales of those panels called
Reynobond PE for use in high-rise applications immediately.

While the fire was started by a refrigerator, investigators believe the
cladding and adjoining insulation which was not made by Arconic contributed
to the quick spread of the deadly blaze.

But while such materials are not allowed on high-rises in the U.S. and many
other parts of the world, the panels had been used throughout the U.K.

As officials assess the safety of 600 buildings across Britain, dozens
turned up similar cladding and failed safety tests.

Analysts say it has potential implications for the company formerly known
as Alcoa (NYSE:AA).

CHRIS OLIN, LONGBOW RESEARCH: The total size of the business is about $200
million to $300 million. So, we can call it maybe 2 percent of revenues.
So, from an actual estimate kind of impact to earnings, it`s not that big
or impactful of an issue. The real issue will be the longer-term
litigation and/or the negative PR associated with it.

BRENNAN: It all comes as Arconic searches for a new permanent CEO, on the
heels of a nasty proxy battle with Elliot Management. This situation could
now make it much harder it recruit.

For NIGHTLY BUSINESS REPORT, I`m Morgan Brennan.

(END VIDEOTAPE)

HERERA: The scandal-plagued airbag maker Takata has filed for bankruptcy
protection. The Japanese company said this is the only way it can keep on
supplying replacements for faulty airbag inflaters linked to the deaths of
at least 16 people. So far, 100 million inflaters have been recalled
worldwide — the largest automotive-related recall in U.S. history.

MATHISEN: BMW`s the latest automaker to announce it is investing and
adding jobs in the U.S. the German car company will spend $600 million and
add 1,000 jobs to its final assembly plant in South Carolina. Latest move
by an auto industry adjusting to a Trump administration that has threatened
to slap a tariff on imported vehicles.

Phil LeBeau has more now from Spartanburg.

(BEGIN VIDEOTAPE)

LEBEAU: BMW`s biggest plant in the world is getting a little bigger —
German automaker adding 1,000 jobs to keep up with global demand for its
SUVs and crossovers.

RENITA WILLIAMS, BMW EMPLOYEE: You hear a lot about different companies
when they close down or they relocate, and then just to know that BMW is
going to invest more money and that`s going to increase more jobs and
that`s more stability so that`s a very exciting time for the associates
that are working here.

LEBEAU: Seventy percent of the models BMW builds in Spartanburg are
exported. That`s good news in the eyes of the Trump administration. But
it`s how many vehicles that are imported by BMW and other German automakers
that has drawn the ire of the president.

Earlier this year, he told a German newspaper: You can build cars in the
United States, but for every car that comes to the USA, you will pay a 35
percent tax.

BMW chairman Harald Krueger has met with Trump and is confident there will
not be a tax slapped on imported BMWs.

HARALD KRUGER, BMW CHAIRMAN: I`m not worried because we explained when I
was in Washington with the German chancellor, had the opportunity to talk
about our business here in Spartanburg, I could explain and the president
acknowledged that one clearly how successful our operation is here in South
Carolina.

LEBEAU: Meanwhile, BMW is moving forward with its plans to build a plant
in Mexico. Still for some on Capitol Hill, the question is not whether or
not to tax imported models, but how to get Europe to drop its tariff on
vehicles built in the U.S.

SEN. LINDSEY GRAHAM (R), SOUTH CAROLINA: Negotiate a treaty with Europe so
that American products can go to Europe without tariff and vice versa and
the automotive sector, this would be a home run for American automobile
manufacturers.

LEBEAU: The big hit today for workers in Spartanburg, adding jobs and
security at the largest auto plant in the U.S.

Phil LeBeau, NIGHTLY BUSINESS REPORT, Spartanburg, South Carolina.

(END VIDEOTAPE)

HERERA: Alphabet and Avis team up on self-driving cars. That`s where we
begin tonight`s “Market Focus.”

The car rental company signed a deal with alphabet`s car unit, Waymo, to
store and maintain Waymo`s fleet of 600 autonomous vehicles. Waymo said it
chose to work with Avis because of that company`s geographic footprint in
the U.S. and experience cleaning and fixing cars. Avis shares soared 14
percent to $27.67. Shares of Alphabet were down 1 percent to $972.09.

And in a similar move, Apple (NASDAQ:AAPL) is reportedly working with Hertz
to test self-driving technology. According to reports, Apple (NASDAQ:AAPL)
plans to conduct the testing on six Lexus SUVs that will be leased from
Hertz. Shares of Hertz popped 13 percent on the news to $10.83. Apple
(NASDAQ:AAPL) shares fell fractionally to $145.82.

MATHISEN: Real estate investment trust Store Capital said Berkshire
Hathaway (NYSE:BRK.A) took a nearly 10 percent stake in the company, worth
almost worth $400 million. Store said the new investment positions it for
continued growth. Shares rose 11 percent on the news to $23.11.

And the Pandora CEO Tim Westergren may step away from the company he
founded. According to Re/Code, Westergren plans to leave the music
streaming giant but will likely remain in his role until a replacement is
found. Pandora shares up 2 percent to $8.46.

HERERA: It`s been three years now since Seattle approved raising its
minimum wage to $15 an hour for lower paid workers, but a new report out
today from the University of Washington says the increased minimum wage is
having an opposite effect and is actually hurting workers.

Mark Long is one of the co-authors of the study and professor of public
policy and governance at the University of Washington. And he joins us to
talk more about that.

Welcome. It`s a pleasure to have you here, Mark.

MARK LONG, UNIV. OF WASHINGTON PROF. PUBLIC POLICY & GOVERNANCE: Thank you
for having me.

HERERA: This has been called a very credible study and it has not yet
undergone peer review. However, I`m interested in the fact that it seems
to contradict what`s been called years of research which came up with kind
of an opposite finding.

So, how did you conduct this study differently? Did you use different
data, different statistics, or different metrics that might lead to this
result?

LONG: Yes, absolutely. One of the things that we`ve done that had not
been available to other researchers is we`ve been able to look directly at
the low-wage labor market because our data allows us to evaluate
specifically low-wage workers rather than using an industry as a proxy.

MATHISEN: Now, how exactly were the low-wage workers hurt? And you put an
actual number on it of $125 a month because of the hike in the minimum
wage. Explain how these individuals were hurt and how you came to that
$125 number.

LONG: Yes. So, what we do, is we look at all low-wage jobs and we
evaluate first what happened to the average wage rate, and there we see
that the minimum wage worked as intended, and that it raised workers`
average wages, but we find a larger percentage decrease in their hours and
in the total number of jobs available for low-wage workers. And so, as a
consequence, their earnings fell by an average of $125 per job per month.

MATHISEN: So, employers cut hours and cut low-wage workers. Did overall
employment decline as a result or were those low-wage workers replaced by
more higher-wage, higher-skilled workers?

LONG: Well, what we see in Seattle as with a lot of the nation is that
this is a good economic climate. So, the Seattle economy is doing very
well as a whole, but we`re not seeing those gains accruing at the lower end
of the wage distribution.

HERERA: So, what do you think the impact of this will be? As we
mentioned, it hasn`t undergone pure review, but it certainly is getting a
lot of press and a lot of interesting comments. What do you think the
impact will be on either Seattle or on the debate overall?

LONG: Well, I think one of the things to understand here is that Seattle
raised its minimum wage from $9.47, which is a state minimum wage. It was
a very high minimum wage to $13 an hour in the period that we`re studying.

And so, this is a large percentage increase in the minimum wage and it`s
also a local minimum wage. Both of those factors may particularly have
caused more dis-employment than what you would see if you did a study of
the national minimum wage or state minimum wage.

HERERA: So, what do you think? Bottom line me here, Mark. Do — does
raising the minimum wage help low-income workers or not?

LONG: Well, right now, what we`re seeing, at least with the local minimum
wage, is it`s not raising their earnings. If anything, it`s lowering their
earnings. At least the earnings that are available to them here in Seattle
— Seattle city limits. Now, again, that may not be the same effect you`d
see with a state minimum wage or with a smaller minimum wage increase.
Both of those factors could be playing a role here.

HERERA: All right. Mark, we`ll leave it at that. Thank you very much for
joining us.

LONG: Thank you.

HERERA: Mark Long with the University of Washington.

MATHISEN: Coming up, new venture. Would you binge watch a television show
or series on Facebook (NASDAQ:FB)?

(MUSIC)

MATHISEN: A hedge fund has taken a $3.5 billion stake in Nestle. Dana
Loeb`s Third Point is now the fourth largest shareholder in the world`s
biggest food company. The hedge fund pushing Nestle to increase returns as
a demand for its products weakens. Now, the stake is the largest ever
taken by Third Point. Shares of Nestle trade on the Swiss exchange.

HERERA: Unilever (NYSE:UN) is reportedly threatening to pull ad spending
from Google (NASDAQ:GOOG) and Facebook (NASDAQ:FB). The “Sunday Times”
reports Unilever (NYSE:UN) is demanding better information on the
performance of online advertisements. Unilever`s one of the world`s
largest advertisers with brands such as Dove and Hellman`s mayonnaise.

MATHISEN: Facebook (NASDAQ:FB) going Hollywood. The social media company
doesn`t want to just be the place where users go to connect with friends.
It also reportedly wants to be the place people go to watch videos, longer
ones.

Julia Boorstin takes a look at what could be Facebook`s next venture.

(BEGIN VIDEOTAPE)

JULIA BOORSTIN, NIGHTLY BUSINESS REPORT CORRESPONDENT: Netflix
(NASDAQ:NFLX) and Hulu, watch out. Facebook (NASDAQ:FB) executives have
been making rounds in Hollywood, meeting with the studios and talent
agencies about creating all sorts of shows to be exclusive to Facebook
(NASDAQ:FB).

BRIAN WIESER, PIVOTAL RESEARCH GROUP: If they don`t start investing in
traditional TV-like content, their growth will slow more meaningfully.

BOORSTIN: Facebook`s VP of media partnership Nick Grudin saying, today,
quote, We`re focused on episodic shows and helping all our partners
understand what works across different verticals and topics. We`re funding
these shows directly now, but over time, we want to help lots of creators
make videos funded through revenue sharing.

Facebook (NASDAQ:FB) has already commissioned unscripted shows from
“BuzzFeed”, “Vox Media” and “Conde Nast” among others, but Facebook
(NASDAQ:FB) is also interested in more traditional scripted TV shows. “The
Wall Street Journal” reporting that Facebook (NASDAQ:FB) is willing to
spend up to $3 million per episode, which is in line with the cost of some
shows on AMC and Netflix (NASDAQ:NFLX).

This comes as Facebook (NASDAQ:FB) along with Google (NASDAQ:GOOG) face
demands from advertisers for brand safety. These new shows would create
more premium ad inventory.

WIESER: Being able to say, hey, we`re digital, we get targeting, we get
reach and you get content that you can feel safe having your brand around,
absolutely that resonates.

BOORSTIN: Last year, Facebook (NASDAQ:FB) created a video tab as a
destination for video and this year, it created a separate video app for
Facebook (NASDAQ:FB) users to save videos to watch on their television
sets. Facebook (NASDAQ:FB) is reportedly looking to start launching
originals later this summer.

And this push into professional content comes on the heels of Apple
(NASDAQ:AAPL) making its first original TV shows. “Planet of the Apps”,
which launched earlier this month, and “Carpool Karaoke” coming to iTunes
in August.

While YouTube doubles down on original more premium content. These tech
giants look to join Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX), Hulu and
even Snapchat in the rush for premium content as the ultimate way to snag
consumers` attention.

For NIGHTLY BUSINESS REPORT, I`m Julia Boorstin in Los Angeles.

(END VIDEOTAPE)

HERERA: So, before we say good night — it is so great to have you back.
Welcome back, Ty.

MATHISEN: It`s so great to be back. Thank you very much. It was an
extended time away, but all is good. I`m delighted to be back with you,
with everyone.

HERERA: And we are delighted to have you.

And that does it for NIGHTLY BUSINESS REPORT tonight. I`m Sue Herera.
Thanks for joining us.

MATHISEN: And I`m Tyler Mathisen. Have a great evening, everybody. We`ll
see you right back here tomorrow night.

END

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