[PBS RAN KAVANAUGH HEARING TO THIS POINT]
JOSH LIPTON, NIGHTLY BUSINESS REPORT CORRESPONDENT: Google (NASDAQ:GOOG)
search engine changed all of that, both broadening the available
information and delivering it a lot faster.
UNIDENTIFIED FEMALE: I use Google (NASDAQ:GOOG) every day. I use it for
looking up, where to get a car fixed, to people, to news.
UNIDENTIFIED MALE: It can make life easier. I know about all the
intrusive stuff that it does, but it can make — it certainly makes life a
UNIDENTIFIED MALE: It`s a sense of yourself just like the cell phone.
UNIDENTIFIED MALE: I think if you don`t know anything, you can easily just
Google (NASDAQ:GOOG) it up, having the phone in your pocket makes it super
LIPTON: It wasn`t inevitable that Google (NASDAQ:GOOG) would be the search
winner. Twenty years ago, they entered a crowded field including Excite,
AltaVista, Infoseek and Yahoo (NASDAQ:YHOO). But today, about 80 percent
of all online searches on both desktop and mobile are run through Google
(NASDAQ:GOOG), according to comScore (NASDAQ:SCOR).
Google (NASDAQ:GOOG) has also transformed the way we collaborate with
Google (NASDAQ:GOOG) Docs, the way we communicate with Gmail, and the way
we travel with Google (NASDAQ:GOOG) Maps. But search is its bread and
butter. It`s even become a verb and investors know that search is how
Google (NASDAQ:GOOG) makes most of its money, displaying ads alongside
those search results.
In the company`s most recent earnings report, it said that advertising
business grew 24 percent, driving total Alphabet net revenue to more than
But there are challenges for search too, including more competition from
AARON KESSLER, RAYMOND JAMES: We`ve seen that in some of our survey work
that increasingly, consumers are going directly to Amazon (NASDAQ:AMZN),
especially if you have a prime membership, you go directly to Amazon
(NASDAQ:AMZN) versus kind of and kind of bypass Google (NASDAQ:GOOG)
LIPTON: With more competition comes the possibility that Google
(NASDAQ:GOOG)`s search growth could slow in the coming years. That`s why
the company may soon put a bigger focus on its other businesses like
YouTube, cloud computing and self-driving cars.
For NIGHTLY BUSINESS REPORT, I`m Josh Lipton, San Francisco.
SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Carnival (NYSE:CCL) tops
expectations and that`s where we begin tonight`s “Market Focus”.
The cruise line operator also launched a billion dollar share buyback and
said future bookings are strong. The company said it expects calm seas
(BEGIN VIDEO CLIP)
ARNOLD DONALD, CARNIVAL CEO: We`re excited about having a record earning
again this quarter and having an opportunity to raise our guidance for the
year. In fact, at the midpoint of the guidance will show operationally a
16 percent increase in earnings per share operationally that will be
partially offset with fuel and currency drag. But still at the midpoint,
our guidance will be above double-digit increase in earnings for the year.
(END VIDEO CLIP)
HERERA: Despite that improved guidance, concerns were raised about future
pricing, and that sent the stock lower by nearly 5 percent to $63.74.
The consulting and outsourcing services firm Accenture said growth across
all of its divisions led to an earnings beat. But it was the company`s
full-year profit forecast that disappointed investors. Accenture said the
guidance reflects the potential impact from the ongoing trade war and a
stronger U.S. dollar. Accenture shares fell more than 1 percent to
And Aetna (NYSE:AET) Health has reportedly received multiple acquisition
offers. CNBC is reporting that two private equity firms and a strategic
buyer are all interested in the cloud-based health I.T. company, but likely
won`t pay more than the $131 per share.
Earlier this year, Aetna (NYSE:AET) expressed interest in selling its —
Athena I should say expressed interest in selling itself. Shares of Athena
Health rose 1 percent to $133.26.
Among food allergies, peanuts can be among the most severe. But now,
researchers are working on a drug to counter those life-threatening
Meg Tirrell has our latest installment of “Modern Medicine”.
MEG TIRRELL, NIGHTLY BUSINESS REPORT CORRESPONDENT: For 13-year-old Will
Brody, a bite of the wrong food could be fatal.
WILL BRODY, PEANUT ALLERGY PATIENT: My peanut allergy is definitely the
worst allergy I have. It`s anaphylactic, which means that if I eat a
peanut, I could die and I`d stake my EpiPen and go to the hospital.
TIRRELL: Will is one of an increasing number of kids with dangerous
According to the CDC, the prevalence of food allergy, the most common cause
of anaphylaxis, rose 70 percent from 1997 to 2016, in kids younger than 18.
Allergic reactions are causing more hospital visits too, an increase of
more than fourfold in a decade. Peanuts are the worst culprit.
DR. JULIE WANG, MT. SINAI ICAHN SCHOOL OF MED. PROFESSOR OF PEDIATRICS:
Peanut allergy specifically affects approximately one and a half to four
and a half percent of children.
TIRRELL: Drug companies are responding and two new treatments for peanut
allergy may reach the market as soon as next year. From biotech companies
Aimmune and DBV Technologies, both introduce small amounts of peanut
protein to patients over time with the goal of building up tolerance.
Will Brody is in a clinical trial of Aimmune`s treatment called AR101.
DR. JAYSON DALLAS, AIMMUNE PRESIDENT & CEO: This is a biology that goes
right to the core of where food allergy starts.
TIRRELL: Every day, he mixes a powder made of peanut protein into food.
Over time, the dose increases.
JOANNA BRODY, WILL`S MOM: If they start you in a very low dose and that
was 1/100 of a peanut, by the end of this past August, when they did their
last food challenge, he was able to complete the entire challenge, which
was over 4,000 milligrams and it`s something like 13 peanuts.
TIRRELL: French biotech DBV Technologies is working on a similar program,
using a patch to administer a dose equivalent to 1/1,000 of a peanut every
day, essentially retraining the immune system to tolerate peanuts.
Allergy work is also underway at bio tech giant Regeneron.
It`s recently approved medicine Dupixent targets two signaling molecules
that become overactive in allergic diseases, like asthma and ectopic
GEORGE YANCOPOULOS, RENEGERON PRESIDENT & CHIEF SCIENTIFIC OFFICER: The
more specifically you can identify what`s wrong with the immune system and
what`s overactive, you can target only that.
TIRRELL: It`s testing the drug in other allergic disorders, as well as in
combination with Aimmune`s therapy for peanut allergy.
Regeneron is also exploring whether it can develop drugs that target the
cause of each specific allergy.
JAMIE ORENGO, RENEGERON DIRECTOR OF IMMUNOLOGY & INFLAMMATION: We have a
program for cat allergy for example where we know what the major driver is
from the cat allergen that`s inducing a lot of the symptoms, and we took it
into a phase clinical study and showed that patients do have symptomatic
TIRRELL: For Regeneron scientist Jamie Orengo, the work is deeply
personal. Her three sons all have severe allergies.
ORENGO: It definitely puts a spark in everything that you do because, you
know, I see — I see how much this affects my children.
TIRRELL: Will Brody says that while the peanut treatment has given him
protection, it doesn`t come without side effects, mainly upset stomach and
it`s not a cure.
WILL BRODY: You need to still be very careful, but just that peace of mind
of knowing that like if I accidentally ate something that I shouldn`t have,
nothing would happen.
TIRRELL: His mom calls that a game-changer.
For NIGHTLY BUSINESS REPORT, I`m Meg Tirrell.
HERERA: Coming up, Porsche`s need for speed.
(BEGIN VIDEO CLIP)
PHIL LEBEAU, NIGHTLY BUSINESS REPORT CORRESPONDENT: It is a sound Porsche
owners love, revving up their car before going out and racing it. We`ll
take you to a place where Porsche owners are meeting for Rennsport Reunion
number six, coming up on NIGHTLY BUSINESS REPORT.
(END VIDEO CLIP)
HERERA: Porsche owners and fans are gathering this weekend for a festival
celebrating the German auto brand`s 70th anniversary. It comes as the
luxury brand enjoys record sales in the U.S.
Phil LeBeau is in Salinas, California, where the sound and speed of Porsche
is on display.
LEBEAU: It`s music to the ears of Porsche fans. Roar of Porsche race cars
turning lap after lap at the famed Laguna Seca racetrack. This is
Porsche`s sixth Rennsport Reunion, four-day festival celebrating the field,
the handling and the sensation of pushing a performance car to the limit.
In a world speeding towards self-driving cars, the people here still want
to control the driving experience.
UNIDENTIFIED MALE: It`s a homecoming for an aspect of Porsche, which is
racing, which is the company`s whole heritage, and every Porsche race car
is represented here.
UNIDENTIFIED MALE: It`s kind of a slogan. You know, it`s portraiture.
It`s about the people not necessarily really the cars, and the community.
And you know I`ve got friends I`ve known for 40 years. I`ve been driving
Porsches, and it`s just a thing.
LEBEAU: And you love it.
UNIDENTIFIED MALE: Oh, yes.
UNIDENTIFIED FEMALE: It`s great. I mean, where do you find so many
beautiful cars like this except at Rennsport.
LEBEAU: While Porsche is developing an electric car it plans to roll out
next year, this is a brand where fuel injection and horsepower still
attract buyers. In fact, the company is enjoying record sales here in the
United States, especially for its signature model, the 911.
DETLEV VON PLATEN, PORSCHE EXECUTIVE BOARD: The 911 is on fire. It`s just
not about the new 911. I mean, when we look at all these classic cars in
the market and when you look at the values of our cars in the markets, we
see a very strong demand for our brand. The brand is alive more than ever
LEBEAU: And racing to stay in the lead of an auto industry hurtling toward
massive changes, a reminder many drivers still love the feeling behind the
Phil LeBeau, NIGHTLY BUSINESS REPORT, Salinas, California.
HERERA: And before we go, here`s a look at the final numbers on Wall
Street. The Dow rose 54 points. The Nasdaq was up 51, and the S&P 500
And that is NIGHTLY BUSINESS REPORT for tonight, I`m Sue Herera.
Thanks so much for joining us. Have a great evening. We`ll see you
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