Transcript: Friday, July 18, 2014

NBR ThumANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen and Susie Gharib.

SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Snap back. The Dow Jones Industrial Average lunged (ph) a triple digit gain, one day after a stiff selloff and amid worldwide condemnation of events surrounding the downed passenger plane.

TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: Return to its roots.
Will General Electric`s industrial transformation bring back some energy to its share price?

HERERA: Special delivery. FedEx (NYSE:FDX) indicted on drug trafficking charges. What could that mean for the company and its shareholders?

All that and more tonight on NIGHTLY BUSINESS REPORT for Friday, July 18th.

And, good evening, everyone. I`m Sue Herera, filling in this evening
for Susie Gharib.

MATHISEN: Welcome, Sue.

I`m Tyler Mathisen. And welcome to all of you.

A striking and perhaps unexpected turnaround in the market today, with stocks rebounding from yesterday`s big selloff. The snap back came despite growing concern about global terrorism and worldwide condemnation of the downing of that Malaysian airliner yesterday by, the U.S. believes, Ukrainian separatists backed by Russia.

At the White House today, President Obama revealed one American, a U.S. and Dutch citizen, was on board the downed jet, while he called for an immediate cease-fire by Russian separatists and a thorough investigation
into the cause of the incident.

(BEGIN VIDEO CLIP)

BARACK OBAMA, PRESIDENT OF THE UNITED STATES: This was a global tragedy, an Asian airliner was destroyed in European skies filled with citizens from many countries. So there has to be a credible international investigation into what happened. The U.N. Security Council has endorsed this investigation and we will hold all members, including Russia, to their
word.

(END VIDEO CLIP)

MATHISEN: John Harwood joins us from Washington with the latest on Malaysia Airlines 17, and reaction from leaders around the world.

John, what is the latest out of Washington?

JOHN HARWOOD, NIGHTLY BUSINESS REPORT CORRESPONDENT: Well, Tyler, what the president was trying to do was to put pressure on and isolate Vladimir Putin. You know, he`s been unable through sanctions so far, especially with Europeans reluctant to go along with tough sanctions to persuade Vladimir Putin that the costs of his intervention in Ukraine exceed the benefits.

What he`s now hoping is the shock, the conscience nature of this event, which the united states clearly believes was done by Russian — pro- Russian separatists trained and supplied by Russia is going to change that
evasion and cause Vladimir Putin to change.

HERERA: John, does it appear, though, that our European allies are on the same page as those of us in the U.S.?

HARWOOD: I think they are moving in that direction, Sue. You had Angela Merkel today talk about halting the sale of French military equipment to Russia. They are going to require proof through this international investigation that Russia was behind what happened and one of the points American officials have been making is that Russia lacks the separatists in eastern Ukraine, lack the capability to operate the equipment needed to take down that airplane.

So, I think it`s going to move slowly, but this is a game changer in terms of international public opinion and European public opinion. So, I
think the odds are good they will be with the United States.

MATHISEN: You know, critics of the president have said that his response in this particular incident and with respect to Russia and the Ukraine generally, has been notably weak. What would they have him do and what other leverage does he have in that part of the world, which is so far from military power of the United States?

HARWOOD: Well, I think everybody agrees that military intervention by the United States is not an option. The president reiterated that today.

I think the criticism is that the president needs to strike a tougher town, implement tougher sanctions even at the cost of fallout for the U.S.
economy. I think this is a moment where those things are possible.

The president was cautious today. He said we don`t want to get ahead of the facts. We want to see what the international investigation points out. Samantha Power, his U.N. representative was a little bit stronger in her language, saying Russia must end this war.

But I think the president is edging toward and the rest of the world
is edging towards the tougher stance critics would have him take.

HERERA: So, it sounds like that`s the next step or is there something else that needs to happen before that, John?

HARWOOD: I think the next step is to have the investigation take place and get the results. You know, when the president was asked today, do you blame Vladimir Putin for this? He said, I don`t want to get ahead of the facts. Don`t know who made the decision to fire the missile.

But I think as those facts accumulate, this is the kind of thing that is simply powerful enough that it is going to produce the kind of consequences that could change the outcome. I heard that from formal
national security advisors to both parties today.

HERERA: John Harwood in Washington — John, thank you very much.

Well, despite those lingering questions about the tragedy over Ukraine, investors shrugged off worries about the impact on global markets with the Dow snapping back with a triple gain. Investors got help from strong corporate earnings before the bell, and a measure of leading economic indicators that rose in June for the fifth month in a row.

Here is how major averages looked at the closing bell after kind of an exhausting week on Wall Street. The Dow ending near the highs of the session, up 123 points and closing above the 17,000 mark. The NASDAQ shot up 68 points, and S&P 500 was up 20.

And for the week, the major averages finished in positive territory, despite all of that volatility with the Dow posting the biggest gain of almost 1 percent.

MATHISEN: One of the companies posting strong second quarter earnings before the bell today was General Electric (NYSE:GE). Oddly enough, the only decliner in the Dow today, even though income was up 13 percent in its latest quarter. Shares fell about a half percent as the company spins off more non-core divisions to become a more focused industrial conglomerate.

Bertha Coombs has more on the changes at GE.

(BEGIN VIDEOTAPE)

BERTHA COOMBS, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over): GE is in the mist of a big transition, with the acquisition of French energy firm Alstom, and plans to spin off its credit card unit amid a move by CEO
Jeff Immelt to shrink the company`s financial arm, GE Capital.

JACK DEGAN, HARBOR ADVISORY GROUP: Mr. Immelt is really accelerating the rate of change in the portfolio. With the three transactions that are going on, that`s going to change the composition of total revenues by over
15 percent.

COOMBS: GE`s oil and gas and aviation units drove profits in the second quarter, while its health care business saw weak results as hospitals bought less equipment. With the Alstom deal, 75 percent of GE`s earnings will be driven by its industrial businesses by the end of 2016. A
large bet on energy in Europe that`s expected to add to earnings.

ART HOGAN, WUNDERLICH SECURITIES: They see it as a credible possibility for them to have a business model that actually grows faster both on the top line and bottom line than what they were doing, you know,
five years ago.

COOMBS: The company expects to race $3.25 billion from the spin off of its Synchrony credit card unit in an IPO later this year. For some investors, all of the moving parts create too much of a headwind for the
company stock near term, especially until the Alstom deal is finalized.

DAVID SEABURG, THE COWEN GROUP: I generally wouldn`t be a buyer of the stock at these levels, plain and simple. There is too much risk from
an execution perspective.

COOMBS: Once considered a bellwether on the global economy, Wunderlich`s Art Hogan says GE`s repositioning say as great deal about the
state of business.

HOGAN: For GE to be increasing their exposure to the energy markets, whether oil and gas or power generation, power distribution, it makes a great deal of sense. They are really mirroring the way our economy is
shifting.

COOMBS (on camera): On the company`s conference call, CEO Jeff Immelt told investors global markets continue to be positive and that both the Alstom and the Synchrony deals are on target to close next year.

Bertha Coombs, NIGHTLY BUSINESS REPORT.

(END VIDEOTAPE)

MATHISEN: General Electric (NYSE:GE) may be striking some big international deals, but it remains based right here in the United States.
Elsewhere this year, there had been an unprecedented number of so-called corporate inversions with U.S. companies moving their corporate tax bases overseas to save millions. And today, the biggest one of all was announced.

Meg Tirrell has the story.

(BEGIN VIDEOTAPE)

MEG TIRRELL, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over): From Chicago deep dish to fish and chips, drug maker Abbvie is packing up and moving overseas. The company is paying more than $54 billion for Dublin- based Shire (NASDAQ:SHPGY), and says its tax rate will shrink to 13 percent by 2016, from about 22 percent now.

It`s the latest in the wave of so-called inversion deals. Analysts say it`s likely to increase already mounting scrutiny from Washington on
the practice, and put pressure on competitors to seek similar deals.

RONNY GAL, SANFORD C. BERNSTEIN ANALYST: It certainly raises the pressure on the companies that have not (INAUDIBLE) to do it. If you`re a U.S. domicile company, with some cash restriction, you`d becoming, more and more of your peers will have an advantage over you when it comes to accusation, when it comes to paying taxes, and if they you as they might, they will enjoy the tax benefit. So, you better move overseas yourself.

TIRRELL: Earlier this week, drug maker Mylan (NASDAQ:MYL) bought assets from Abbott Laboratories (NYSE:ABT) that will enable it to cooperate in the Netherlands and benefit from a lower tax rate. Abbott CEO Miles White today stirred rumors it may be the next to do such a deal, when he took a stand on corporate inversions in an op-ed in “The Wall Street Journal”.

Analysts say the Abbvie-Shire (NASDAQ:SHPGY) deal also has other implications for another area of health care — companies that make drugs for rare or so-called orphan diseases. Shire (NASDAQ:SHPGY) has been building up that part of the business and Abbvie is expected to continue to
do deals in the space.

GAL: Abbvie paid so much because of the rare disease orphan indication franchise. It`s about half the company. Both drugs are priced very, very high and treated very small group of patients. They generally provide high benefit to the patients and therefore there is limited pressure to control the prices of those drugs. It`s a very attractive
business on the perspective of drug companies.

TIRRELL (on camera): Gal suggests drug makers, from BioMarin, Solvay, Biocrest (ph), Diaxx (ph), and NTF Pharma (ph) as potential acquisition targets. It all spells more deal-making for pharmaceutical companies.

For NIGHTLY BUSINESS REPORT, I`m Meg Tirrell.

(END VIDEOTAPE)

MATHISEN: Shares of both Abbvie and Shire (NASDAQ:SHPGY) rose today.
Abbvie up almost 2 1/2 percent. Shire (NASDAQ:SHPGY) gained more than 1 percent.

HERERA: Still ahead, our market monitor has a list of stocks that he says could double in price over the next 12 to 18 months and he`s going to share them with us, next.

(MUSIC)

MATHISEN: The calendar says July, school was just out a few weeks ago, but retailers are already gearing up for back to school sales. And just today the National Retail Federation predicted parents will spend nearly $8.5 billion this year on tablets and other electronic devices for
their kids. That`s about 7 percent more than they spent one year ago.

HERERA: FedEx (NYSE:FDX) says it will fight charges it helped Internet pharmacies distribute drugs illegally to customers without prescriptions. A federal grand jury in San Francisco yesterday returned a 15-count indictment against the delivery giant, saying senior management at FedEx (NYSE:FDX) knew what was going on. It`s yet another glimpse into the shadowy world of Internet drugstores.

Scott Cohn has the story.

(BEGIN VIDEOTAPE)

SCOTT COHN, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over): In California, Dan Weinstein (ph) is still mourning the death of his wife
Cheryl three years ago.

DAN WEINSTEIN (ph): There isn`t a day that goes by that I don`t think
of her and miss her.

COHN: Cheryl was addicted to painkillers. She died of an overdose of
drugs bought online with amazing ease, without a prescription.

WEINSTEIN: They come via FedEx (NYSE:FDX). They come to any address that you want to put them to, as long as there is a credit card to pay for
them.

COHN: The Justice Department says FedEx (NYSE:FDX) is part of the problem. In a sweeping indictment, the government says FedEx (NYSE:FDX) knowingly ships the drugs, sometimes delivering to parking lots.
Authorities say they have been warning them about the dangers of Internet pharmacies for a decade.

But rather than cut off what the government says was a huge source of revenue, FedEx (NYSE:FDX) simply assigned them a different account classification.

(on camera): FedEx (NYSE:FDX) says it`s innocent, says it`s been asking the government for years for a list of pharmacies to avoid, but to no avail. The company says it has a history of cooperating with law enforcement but it also handles more than 10 million packages every day.

“We are a transportation company. We are not law enforcement”, the company says in this statement, adding that customer privacy is now at risk. The company also made its case directly to Wall Street analysts who
for the most part are sticking by the company.

CHRISTIAN WETHERBEE, CITI TRANSPORTATION ANALYST: I think this is relatively more relegated to headline risk as it stands now with the
information we have today.

COHN: FedEx (NYSE:FDX) rival UPS settled similar charges last year for $40 million in a host of reforms. Dan Weinstein says the shippers are
just part of the much problem.

WEINSTEIN: It`s pure greed. All they want to do is make money.

COHN: Consumers going outside the U.S. system to save money, and Internet pharmacies preying on the vulnerable to make it.

Scott Cohn, NIGHTLY BUSINESS REPORT.

(END VIDEOTAPE)

MATHISEN: Honeywell reports better than many expected profits and hikes its outlook and that is where we begin tonight`s “Market Focus.”

The results were driven by higher sales of its turbochargers that help make cars more efficient and powerful. New fuel efficiency regulations have increased demand for those parts. The industrial conglomerate also raised the lower end of its 2014 profit forecast range. Shares were up more than 1 1/2 percent. They closed at $96.82.

Shares of auto parts maker, Johnson Controls (NYSE:JCI), went the other way as its earnings fell in its third quarter. Restructuring and other charges offset a small increase in revenue. And even though the results were generally in line, investors were not cheered at all. Shares down more than 1 percent on this up day. They finished at $49.16.

Shares of VF Corp fell after the apparel retailer reported a drop in gross margins. The company, which owns brands like the North Face and Timberland (NYSE:TBL), also gave investors a disappointing full-year profit forecast. And the stock dropped 1 percent to $60.95.

HERERA: Bank of New York Mellon (NYSE:BK) saw its second-quarter profit fall, dragged down by hefty charges and a decline in fees, but it still managed to post results that topped estimates. The company also announced that it will not be selling its corporate trust unit, which has been under review for a possible sale. The shares as a result rose 1 percent to $38.43.

Two IPOs to tell you about: shares of Terraform Power, which is owned by SunEdison surged in the solar plant owners market debut.

Also, Trupanion started trading today. But investors weren`t quite as excited about that company, which is a pet insurance provider. Terraform closed 32 percent higher to $33.09. Trupanion shares up 14 percent, not bad, to $11.40.

And shares of Amazon (NASDAQ:AMZN) were higher after the retailer announced its rolling out a new subscription service for Kindle devices.
That new service will give users unlimited access to the company`s library of e-books and audio books for about 10 bucks a month. Shares were nearly
2 percent higher to $358.66.

MATHISEN: Well, there is growing concern another well-known stock, that of the luxury fashion retailer Michael Kors may have shot up too far, too fast, and may be in a bubble right now. So, could that bubble be about to burst?

Courtney Reagan takes a look.

(BEGIN VIDEOTAPE)

COURTNEY REAGAN, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over):
Since its IPO in December of 2011, Michael Kors shares have been unstoppable. Until about three months ago. Kors stock has returned more than 300 percent to shareholders in the 31 months since going public. But the premium accessory maker has begun to show signs of weakening, leaving
some wondering whether the Kors` bubble has finally burst.

JOAN PAYSON, BARCLAYS: It may be shift in relevance or preference.
At the same time, something else we`ve been tracking to date has been market share in North America for this brand and we really see them as having 18 percent market share in North American handbags at this point, 20 percent is really the threshold where we would begin to be concerned they
are demonstrating a saturation point in the market.

REAGAN: Payson also says Google (NASDAQ:GOOG) trends in U.S. search data for the term Michael Kors have declined year over year for five straight weeks. There has only been one other week of decline since going public.

Competitor Kate Spade, however, has seen a recent uptick in Google
(NASDAQ:GOOG) search trends.

Citi, William Blair and Stern Agee have also expressed concerns about Kors this week. Beyond potential saturation, analysts point to increased promotional activity, higher levels of inventory and compressed margins as other worries.

(on camera): But not everyone is bearish on Kors. Today, Canaccord Genuity says it`s maintaining a buy rating on shares.

And Piper Jaffray`s Erin Murphy is reiterating her overweight rating.

ERIN MURPHY, PIPER JAFFRAY: This continues to be a global growth story that we think is grossly misunderstood by the street. It`s growing across multiple categories. We think over the next two to three years, the near term or that kind of intermediate term upside comes from the European market, what they are doing there. It`s extremely transformational.

REAGAN (voice-over): While many compare Michael Kors to Coach (NYSE:COH), which has also suffered from market share and stock price declines recently, Murphy thinks Ralph Lauren is a better competitive peer to Kors since both have large product lines beyond handbags.

Kors` meteoric sales growth has been stellar, a performance level only sustainable for so long. However, Piper Jaffray`s most recent 8,000-teen survey still indicates Kors is a top desired handbag brand among young millennials, potentially giving the brand some back-to-school sales strength.

For NIGHTLY BUSINESS REPORT, I`m Courtney Reagan.

(END VIDEOTAPE)

HERERA: Our market monitor guest tonight says there are pockets of opportunity, you just need to know where to look.

He`s going to tell us. He is Mark Yusko. He`s Morgan Creek Capital Management CEO.

Welcome. Nice to have you here.

MARK YUSKO, MORGAN CREEK CAPITAL MANAGEMENT CEO: Thanks for having me up here.

HERERA: So, there are pockets of opportunity. I assume that that
means evaluations are not stretched as they appear to be in some sectors.

YUSKO: Yes, I think it`s like that joke about the man who drowns in the stream six inches deep, inch on the side and 10 feet in the middle, it`s the same thing through the market. The average looks fairly to maybe a little over-valued, but there are extreme pockets of over evaluation and some really extreme pockets of under evaluation, places like energy and energy services.

So, we`ve tried to dig in the value areas.

MATHISEN: The markets snapped back today after yesterday`s sale off
regaining virtually all of what it lost.

YUSKO: Right.

MATHISEN: I wonder when you heard the news of this downing of the plane. Did you do anything? Did you change your portfolio at all, buy or sale?

YUSKO: It`s a great point. We didn`t do anything. We try not to react. We try to be more proactive. You can`t be proactive to a tragedy, if you don`t know it`s going to happen.

So, we got a little lucky. We lightened up on Russian exposure last week, just trying to lower volatility risk generally, but that`s just luck.

But overall, we try not to react particularly in big down days or big up days. You don`t want to sale on a big down day, because then you miss the rally back, and you don`t want to buy on a big up day because it will
usually be overbought.

HERERA: How much of this is because it`s summer, volumes have been
low?

YUSKO: Yes.

HERERA: So, any moves in the market tend to be more exaggerates than if we were in the fall earnings season or summer earnings season?

YUSKO: It`s a great insight. I actually tweeted this out the other day, that, you know, when you take events plus no one at the desk, you get volatility and that`s exactly what you see this time of year, and around holiday weekends, you see it, too. Fourth of July weekend, you saw it.
There`s a big announcement about some company and suddenly that stock takes
off, a lot of short covering. So, low volume is tough.

MATHISEN: All right. Let`s get to some of your picks, leading off
with VIP shop, not a company I know. Tell me about it.

YUSKO: It`s actually a really amazing story. So, we`ve been involved for awhile since the private equity stage of this business. Think of it as T.J.Maxx without stores in China. So, they sell discount merchandise
online.

MATHISEN: I tell you what gets my attention is 433 percent higher —

(CROSSTALK)

MATHISEN: That gets my attention.

YUSKO: That will get your attention.

So, here is the thing — this business is a fantastic business because they are doing to retail kind of what cell phones did to land lines in emerging markets. They leapfrogged. So, the same thing if you don`t have to put all the infrastructure in place, you don`t need bricks and mortar stores, you`re going to have higher margins.

So, what they`ve done is they put together a great management team, ranked the third best behind Alibaba and 10 Cent, it`s pretty high priced, and they put together this plan to basically become T.J.Maxx of China.
T.J.Maxx, $40 billion company. VIP shops about $11 billion company today.
They have higher margins, bigger population, and they go up a lot.

HERERA: You mentioned earlier, the energy sector. Halliburton
(NYSE:HAL) is one of your picks as well.

YUSKO: Yes. You know, in the gold rush, who got rich? The gold miners or the guys who sold the picks and shovels? Levi Strauss, the guy who bought the shovels and ran down California Avenue saying there`s gold in our hills.

So, I was in Texas Tuesday, Wednesday, meeting with some energy folks and one of the things they talked about is to get the oil out of the ground, the gas out of the ground, you have to drill more holes longer laterals than the horizontal drilling. You have to use more fracking sand.
You just have to do more to get it out because the decline rates are so high.

So, a company like Halliburton (NYSE:HAL) which specialized in people
drilling holes is going to make a lot of money.

MATHISEN: And your last one, quickly, is Horizon Pharmaceuticals — a couple of sentences on that.

YUSKO: Yes. So, the bottom line is specialty pharma. You guys talked about it in an early story, is the big companies, big pharma companies, need R&D. They need product. So, the especially pharma companies are taking kind of orphan products and specialty areas like, in this case, inflammation, rheumatoid arthritis, and they`re putting packages of drugs together that are attractive to a bigger acquirer.

HERERA: Any disclosures that you for us in terms of whether you hold it or you clients?

YUSKO: We own all three of those companies in our mutual fund, and
some of our clients own it as well.

HERERA: All right. Mark Yusko, thank you so much for joining us.

YUSKO: Thanks for having me.

HERERA: Appreciate it very much. Mark Yusko, Morgan Creek Capital Management CEO.

Coming up, the deadline to comment on one of the FCC`s most controversial proposal is fast approaching and it`s dividing some of the biggest players on the Internet.

(MUSIC)

HERERA: Some new data from the Labor Department shows in June 33 states added jobs, 17 lost them compared to the month before. And with that, the unemployment rate dropped in 22 states from May to June. It rose in 14 states and it stayed the same in some 14 others.

Right now, Mississippi and Rhode Island have the nation`s highest unemployment rates both at 7.9 percent. North Dakota, thanks to the shale oil boom, has the lowest at 2.7 percent.

MATHISEN: The deadline for anyone wanting to weigh in on the FCC`s controversial proposal concerning so-called Net Neutrality was extended to Eastern Time midnight tonight.

Julia Boorstin takes a look at what Net Neutrality is, what the FCC is
proposing, and what`s at stake.

(BEGIN VIDEOTAPE)

JULIA BOORSTIN, NIGHTLY BUSINESS REPORT CORRESPONDENT: The FCC has been deluged with a record of more than 1 million comments on its proposal for new Net Neutrality rules ahead of tonight`s deadline. The commission was forced to extend the deadline from Tuesday, because it was so slammed with comments, the Web site crashed and many people weren`t able to file
objections.

AJIT PAI, FCC COMMISSIONER: I think a lot of times, we get hung up on the slogans, net neutrality, open Internet, paid prioritization. But the key question is, how do we preserve the Internet as a platform for innovation and investment?

BOORSTIN: Net Neutrality essentially means everyone has equal access to the Internet. The FCC is proposing that broadband providers be allowed to charge content companies for a fast lane of service to give consumers faster access to their content.

The proposal would ban Internet providers from discriminating against legal Web sites, but many are concerned it would disadvantage companies that can`t afford to pay.

Filing an opposition to what they call a pay-for-priority platform, the Internet Association. It represents three dozen web companies from giants Netflix (NASDAQ:NFLX), Amazon (NASDAQ:AMZN) and Google (NASDAQ:GOOG), to smaller companies, including Uber and Airbnb.

Netflix (NASDAQ:NFLX) also submitted a filing, urging the FCC to reclassify broadband providers as a public utility, just like the phone network, and prevent them from favoring certain Web sites over others.

Supporting the FCC`s proposal, Internet service providers, including Comcast (NASDAQ:CMCSA) (NYSE:CCS), Verizon (NYSE:VZ), Time Warner
(NYSE:TWX) Cable and AT&T (NYSE:T).

The nation`s largest Internet provider, Comcast (NASDAQ:CMCSA) (NYSE:CCS), says it supports the FCC enforcing transparency, no blocking and anti-discrimination rules. As a condition of its purchase of NBC Universal (NYSE:UVV), Comcast (NASDAQ:CMCSA) (NYSE:CCS) has to follow the old rules until 2018.

PAI: It seems the FCC shouldn`t be in the business of preemptively determining for an entire industry how the business arrangements should be developed. This is a pretty dynamic marketplace, and I think we should wait and see how things developed in the market before taking preemptive
action.

BOORSTIN: Even after tonight`s deadline, the agency will accept responses to comments through mid-September. It`s expected to make a decision by the end of the year.

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

(END VIDEOTAPE)

MATHISEN: And Comcast (NASDAQ:CMCSA) (NYSE:CCS), which Julia just mentioned in her report, is the parent company of CNBC, which produces this
broadcast.

HERERA: And on that note, that does it for NIGHTLY BUSINESS REPORT
for tonight. I`m Sue Herera. Thanks for joining us.

MATHISEN: Thanks from me as well. I`m Tyler Mathisen. Have a great
weekend, everybody. We`ll see you back here on Monday.

HERERA: You got it.

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) 2014 CNBC, Inc.

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