Transcript: Nightly Business Report — August 4, 2015

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

TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: Missing the magic.
Expectations were high for Disney (NYSE:DIS) to deliver, but it was
something not found inside its earnings reports.

SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR: Baked Apple
(NASDAQ:AAPL). Shares of the world`s most valuable company fall deeper
into correction territory. What`s behind Apple`s decline?

MATHISEN: No 401(k), no problem. There are other ways that you can
save for retirement.

All of that and more tonight on NIGHTLY BUSINESS REPORT for Tuesday,
August 4th.

HERERA: Good evening, everyone.

We begin tonight with news about Disney (NYSE:DIS). The company stock
has traded near all time highs recently, and expectations for its s results
were also pretty high. But the Dow component didn`t deliver the magic for
investors. Earnings of $1.45 a share did beat estimates but revenue came
in at about $13 billion, just below the consensus. Shares initially
tumbled in after hours trading on that top line disappointments.

Julia Boorstin has the one key takeaway from Disney`s quarterlies.

(BEGIN VIDEOTAPE)

JULIA BOORSTIN, NIGHTLY BUSINESS REPORT CORRESPONDENT: Disney`s
record quarter comes in the back of growth in two key divisions, Marvel
hits “The Avengers: Age of Ultron” helped propel the studio`s revenue up 13
percent and its operating income of 15 percent, and the studio did not have
to take a write-down on “Tomorrowland`s” disappointing results.

Disney`s cable network also continued to grow in the top and bottom
line, led by ESPN, where an increase in subscribers and rate increases
helped offset lower advertising revenue. ESPN, along with Disney
(NYSE:DIS) Channel and ABC family helped outweigh broadcast decline.

ESPN is certainly in focused this quarter after CEO Bob Iger said on
CNBC just a few weeks ago that it`s inevitable that Disney (NYSE:DIS) will
eventually sell ESPN directly to consumers.

Back to you.

(END VIDEOTAPE)

MATHISEN: Julia Boorstin reporting.

Well, fellow Dow component and widely owned stock Apple (NASDAQ:AAPL)
fell deeper today into correction territory. Shares of the blue chip tech
company fell another 3 percent today on heavy volume. They are now off
almost 13 percent from their highs this year. They`ve shed about $100
billion in market value since that peak.

And if the stock — if a fall in the stock price wasn`t bad enough,
there are also reports that Apple`s Mac computer`s long touted as a secure
operating system are now vulnerable to worms and viruses.

Jon Fortt has more on Apple`s recent rough run.

(BEGIN VIDEOTAPE)

JON FORTT, NIGHTLY BUSINESS REPORT CORRESPONDENT: It`s been a cruel
summer for Apple (NASDAQ:AAPL) stock, with shares down 13 percent from
where they traded just a couple of weeks ago. If you`re looking for a
single headline to explain the drop, though, you`ll be looking for a while.
Apple (NASDAQ:AAPL) shares have been falling since the company`s earnings
report partly on concerns that the iPhone`s growth might slow.

WILLIAM POWER, ROBERT W. BAIRD WALL STREET ANALYST: As I talk to
investors, I think the biggest concern is the calendar Q4, the December
quarter cap. I mean, look, the company had an enormous iPhone shipment
quarter in that quarter a year ago and I think there are questions and
concerns as to whether they can really beat that. We think they can.

I mean, as a result, combined with other factors, we like the stock
here on this weakness, so we would be buyers.

FORTT: Another reason, China. Stocks in the country have sold off in
recent weeks, investors are worried about what that might signal about
overall economic growth. And since Apple (NASDAQ:AAPL) CEO Tim Cook has
called out China`s as the company`s biggest growth market, that matters.

And, finally, the stock is at the point where it`s falling because
it`s fallen. Apple (NASDAQ:AAPL) is trading below its 200-day moving
average, a key technical level that traders sometimes read as a sign that
momentum has turned against a stock. It won`t be long, though, until we
get more news from Apple (NASDAQ:AAPL). The company typically unveils and
begins selling new iPhones in September.

That`s sure to get investors to take another look at the stock for
better or for worse.

For NIGHTLY BUSINESS REPORT, I`m Jon Fortt.

(END VIDEOTAPE)

HERERA: Apple (NASDAQ:AAPL) shares weighed on the major averages
which ended lower for a third straight session. Concerns about rising
interest rates also pressuring stocks.

By the closing bell, the Dow Jones Industrial Average dropped 47
points to 17,550, the NASDAQ fell 9, the S&P 500 was off 4. And Oil prices
rebounded just slightly following yesterday`s slight settling up 57 cents
to $45.74 a barrel.

MATHISEN: Well, Sue, new orders for factory goods rebounded in June.
Strong demand for transportation equipment helped the struggling
manufacturing sector, which has gotten stung by a weak dollar — excuse me,
by strong dollar, weak overseas demand and spending cuts in the energy
industry. The Commerce Department reported a 1.8 percent rise in factory
orders following a decline in May. As a result of the report, Barclay says
overall economic growth for the second quarter now tracking at 2.9 percent.

HERERA: Overall, the economy looks strong enough to support a
possible September interest rate hike, so says the president of the Atlanta
Federal Reserve.

Dennis Lockhart told “The Wall Street Journal” that only a, quote,
“significant deterioration”, end quote, in economic momentum could convince
him to wait longer. Lockhart is one of the first officials to speak
publicly since the Central Bank`s policy meeting last week.

MATHISEN: A hostile bid in the drug sector, but late today, Baxalta
rejected an unsolicited $30 billion offer from Ireland-based Shire
(NASDAQ:SHPGY). If the deal were to happen, it would create a leading
biotech company focused on rare diseases, the bid or word of it sent shares
of Baxalta soaring and Shire (NASDAQ:SHPGY) falling. Look at those
numbers.

Bertha Coombs has more on the drama in the drug sector.

(BEGIN VIDEOTAPE)

BERTHA COOMBS, NIGHTLY BUSINESS REPORT CORRESPONDENT: Baxalta has
only been public for a month, but what a month it`s been. The bio sciences
company which makes hematology and immunology drugs was spun off from
Baxter international.

During Baxalta`s first earnings call as an independent company last
week, CEO Ludwig Hantson said the firm was open to acquisitions as an
acquirer.

LUDWIG HANTSON, CEO, BAXALTA: With respect to M&A, we are hungry for
M&A but we are not desperate. I think we will use the discipline making
sure that the strategy is aligned. The financials are there as well as we
can integrate the organization.

COOMBS: But it looks like Baxalta may now be the target, not the
buyer. Shire (NASDAQ:SHPGY) Pharmaceuticals made an offer for the company
which Baxalta spurned last week. So, today, Shire (NASDAQ:SHPGY) is going
public with its hostile $30 billion bid in what has been a busy year for
health care mergers and acquisitions.

RICHARD PETERSON, S&P CAPITAL IQ: 2014 was a record year. That year
was, $270 billion in announced deals. This year, we have already eclipsed
that with today`s announcement with the unsolicited bid by Shire
(NASDAQ:SHPGY). We saw about $330 billion in announced transactions.

COOMBS: For Ireland-based Shire (NASDAQ:SHPGY), it`s an about-face.
It had agreed to be acquired by U.S. based AbbVie last year, but the so-
called inversion deal fell apart after the U.S. changed the rules on
American companies acquiring foreign firms to secure tax savings.

Now, Shire (NASDAQ:SHPGY) says its deal with Baxalta would give the
combined company a strong profile in rare diseased drugs and benefits on
the tax front. S&P`s Rich Peterson says this year, it`s already seen
nearly $100 billion in deals with U.S. firms selling to foreign acquirers.

PETERSON: Some of these foreign companies were one-time U.S. domicile
companies whereupon they reincorporated abroad to take advantage of lower
tax rates.

COOMBS: Baxalta rejected Shire`s bid saying it would be severely
disruptive at such an early stage as a public company. And analysts say it
can afford to hold off.

Baxter International (NYSE:BAX) still has a 20 percent stake in the
firm and the rules prohibit any other investors from gaining more than a 10
percent stake, making a hostile takeover very difficult.

Bertha Coombs, NIGHTLY BUSINESS REPORT, New York.

(END VIDEOTAPE)

HERERA: Aetna (NYSE:AET) raises its profit guidance and reported
better than expected earnings for the second quarter. The health insurer
said it benefited from strength in its Medicare and Medicaid business, and
the CEO is optimistic about its announced deal to acquire Humana
(NYSE:HUM).

(BEGIN VIDEO CLIP)

MARK BERTOLINI, AETNA CEO: The only overlap we have with Humana
(NYSE:HUM) is in a few markets on Medicare, we do very well on exchanges.
They are having some trouble there. We have a large commercial business.
They have very little commercial business. They carry the lion`s share of
Medicare.

So, the overlap for us is very strong from the standpoint of
complementary products and services.

(END VIDEO CLIP)

HERERA: The stock finished the day up 1 percent.

MATHISEN: CVS (NYSE:CVS) Health issued a soft earnings outlook for
its current quarter. The company`s drug store business was hit by a fall
in customer traffic and a large drop in sales after last year`s decisions
to stop selling tobacco products. But CVS (NYSE:CVS) did see a rise in
prescription sales in part because of pricey specialty drugs. That wasn`t
enough, though, to prop up the stock which fell today more than 2 percent.

HERERA: The Food and Drug Administration has approved the first ever
3D printed prescription pill. The drug will be used to treat certain types
of seizure and epilepsy patients. The manufacturer Aprecia Pharmaceutical
says the printer is used to build the pill by spreading layers of the drug
on top of one another until the right dosage is reached.

MATHISEN: Still ahead, are big corporations trying to delay the push
for bigger overtime pay, a former labor secretary says yes. We`ll debate
it.

(MUSIC)

HERERA: Freddie Mac is spending, is sending rather nearly $4 billion
to the Treasury Department. This after the mortgage finance company posted
a sharp increase in second quarter profits. The results mark the
government-controlled company`s 15th straight profitable quarter. During
the quarter, Freddie Mac increased its purchases of home loans and sold off
greater volumes of riskier mortgages.

MATHISEN: General Motors (NYSE:GM) will spend more than $800 million
to upgrade a truck plant in Flint, Michigan. The investment comes amid
solid demand for its full-size pickup trucks and it is part of the
automaker`s $5.5 billion investment program. The overhaul will make
assembly line improvements but it won`t result in new jobs.

HERERA: But one area that is seeing an increase in manufacturing jobs
is the southeastern portion of the country. Thanks in part to the rapid
expansion of the auto and aerospace industries.

Phil LeBeau reports from South Carolina, a state leading the way in
manufacturing job growth.

(BEGIN VIDEOTAPE)

PHIL LEBEAU, NIGHTLY BUSINESS REPORT CORRESPONDENT: From Boeing`s
assembly line outside of Charleston, to the Michelin tire plant near
Columbia, South Carolina has become a hub for manufacturing.

PETE SELLECK, MICHELIN NORTH AMERICA: Nationally, 12 percent of the
GDP of our country is manufacturing. South Carolina is now up to 18
percent. Something really, really special is happening.

LEBEAU: What`s happening is a result of an intense push by South
Carolina leaders to attract aerospace and auto manufacturing jobs, helping
push down the state`s unemployment rate. Recently, Volvo picked South
Carolina over Mexico for a new assembly plant that will employee 2,000
people.

Governor Nikki Haley says convincing companies not to build south of
the border means offering them a better option.

GOV. NIKKI HALEY (R), SOUTH CAROLINA: The way we can step up is
certainly costs you can go so far, but we can step up on our training, with
our workforce and we can step up with the business environment and how we
proceed going forward.

LEBEAU: A big reason why made in South Carolina has become so popular
is because manufacturers like BMW can ship their products around the world.
In fact, the port of Charleston has now become one of the busiest on the
East Coast.

SELLECK: The infrastructure is really good and particularly our
emphasis on port, because we bring in a lot of raw material, specifically
natural rubber from Southeast Asia, and we export a lot, particularly in
this large earth mover tire plant where we export 50 percent of what we
make through the ports.

LEBEAU: Made in South Carolina, the new face of manufacturing in
America.

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

(END VIDEOTAPE)

HERERA: The high-end retailer Neiman Marcus (NYSE:MCS) has filed for
an initial public offering. The firm which also operates for Bergdorf
Goodman stores filed for an offering of up to $100 million, but that amount
is a placeholder and likely to change. This would be the company`s return
to the marketplace after being taken private in 2005.

MATHISEN: Coach (NYSE:COH) beat estimates, but there`s more to the
report than meets the eye, and that is where we begin tonight`s “Market
Focus”.

The handbag company was helped by the acquisition of the luxury shoe
brand Stuart Weitzman. Still, this is the eighth straight quarter of
falling sales for the company`s purses and accessories. Shares of Coach
(NYSE:COH) ended the day at $31.41. That was a gain of 3 percent.

Meanwhile, Beazer Homes posted earnings that topped estimates, but
revenue did missed forecasts. The home builder saw new orders and closings
rise in its most recent quarter. Still shares tumbled 6 percent to $17.93.

Time Inc., the publisher of “Sports Illustrated”, “Time” and “People”,
swung to a profit in its latest quarter, as lower costs offset a decline in
revenue. The results came despite weaker print ad sales and negative
currency impacts. Shares there up 2.5 percent to $22.43.

HERERA: Zillow saw its shares zoom higher after hours after posting
bottom line results that were better than expected. The online real estate
company`s revenue also grew and topped forecasts. Shares rose initially in
after-hours trading. The stock was off 3 percent during the regular
session to $74.20.

And video game company Activision Blizzard (NASDAQ:ATVI) hiked its
second-quarter outlook for the second quarter in a row. That came on the
heels of a 15 percent increase in revenue helped by digital growth and more
expansion in China. Shares initially surged in after-hours trading. But
before the close shares were up just slightly to $25.67.

Dow component Travelers announcing some executive changes late today.
Alan Schnitzer will succeed the current CEO Jay Fishman starting in
December 1st and he will join the board of directors. Shares were little
changed in initial after-hours trading. During regular trading the stock
was off a fraction to $106.63.

MATHISEN: Well, there`s no shock that American`s incomes have grown
at a glacial phase for decades. In real after-inflation adjusted terms,
they pack about the same purchasing power as in 1979. In June, the White
House announced plans to expand by nearly 5 million people the number of
salaried workers eligible to receive overtime pay. The proposal would make
salaried workers earning less than about $50,000 a year eligible for that
extra pay and that move is a controversial one.

Former Labor Secretary Robert Rice recently wrote an open letter
urging companies not to delay these pay raises. Mr. Rice served under
President Clinton and is currently an economics professor at the University
of California-Berkeley. He joins us now, along with Jerry Howard, the CEO
of the National Association of Homebuilders, which opposes the raise in the
overtime threshold.

Gentlemen, welcome to you both.

UNIDENTIFIED MALE: Thank you.

MATHISEN: Let me begin with you, Jerry, if I might.

This overtime threshold has been raised once, as I understand it,
since 1975. And the president`s plan to raise it to about $50,400, would
take it, according to my research, back in inflation adjusted terms to the
level that obtained in 1975.

Do you oppose any increase in that overtime threshold or just one as
large as this one?

JERRY HOWARD, NATIONAL ASSOCIATION OF HOMEBUILDERS: Well, the
administration didn`t ask us if we posed any. They just imposed over 100
percent increase in one fell swoop.

MATHISEN: Well, I`m asking you.

HOWARD: That`s a problem for small businesses.

MATHISEN: I`m asking you, sir. I`m asking you, do you oppose any
increase?

HOWARD: No, I don`t think we oppose any increase. But we`re
reasonable.

MATHISEN: You just think this one is too big?

HOWARD: It`s very unreasonable. Moreover, it applies to small
businesses that are just coming out of a depression. And as people are
just starting to make money, you talked about incomes being frozen. In the
homebuilding sector, they haven`t been frozen, they have been going down,
and you`re really putting the brakes on a very fragile homebuilding
recovery.

HERERA: What about that, Secretary Reich? There are a lot of small
businesses struggling just to, you know, come out of an economic slump that
was quite severe. There are other businesses that are not hiring.

Is this the right time to put this size of an increase in place, might
it better to phase it in?

ROBERT REICH, FORMER LABOR SECRETARY: Yes. This is not an increase
in wages overall. This isn`t even an increase in the minimum wage. This
is an increase in overtime pay. The percentage of workers that are
qualified for overtime.

If an employer doesn`t want to offer overtime, the employer doesn`t
have to. The employer can simply hire additional workers for 40 hours a
week without any overtime.

The point is that if we have an overtime rule and we`ve had it on the
books in America since 1938, a 40-hour work week with time and a half for
overtime, we should at least have an overtime rule that matches, at the
very least, what we had in 1975.

MATHISEN: You`re not suggesting, Mr. Reich, that this would not
increase the employment costs one way or another for many businesses, are
you?

REICH: It could increase employment costs if a business wanted to
keep people on overtime and not hire additional people for under 40 hours a
week. But all I`m saying is a business that really feels that it doesn`t
want to pay overtime has an option and that option is to bring on more
workers and have them work 40 hours a week and not have anybody work for
overtime.

HERERA: What about that, Mr. Howard? I mean, that sounds reasonable.
It`s not an increase in minimum wage. It`s not an increase in overall
wages. But it seems as though —

HOWARD: I completely disagree with the secretary. Right now, there
is a shortage of labor in the homebuilding sector. We`re having trouble
finding people to come in and work 40 hours a week. And for him to suggest
that we could just hire more people, that`s going to add to the costs.
It`s going to housing. The workers just aren`t there right now.

MATHISEN: Mr. Reich?

REICH: But if there`s a shortage of labor, one of the things in the
economy that the employer does, is an employer offers more wages in order
to attract more workers. That`s economics 101.

I mean, what we want in this country — what we want in this country
are not only jobs, we want good jobs and American workers have suffered for
years as pay has actually deteriorated, for most workers, in terms of
adjusted for inflation.

MATHISEN: Mr. Howard?

HOWARD: I would suggest that jobs in the construction sector are good
jobs. Also, I would suggest to the secretary that training for a
carpenter, HVAC person, even a framing carpenter, takes up to 18 months.

It`s naive to think we can go out there and hire these people. They
have to be trained during the depression in our industry. Many, many
millions of laborers left the sector. They just don`t magically reappear.

And to say that we can go out and hire more people is naive and it`s
dangerous if you want a strong economic recovery in the housing sector.

MATHISEN: All right. Gentlemen, we have to leave it there. Thank
you very much, both of you, for joining us tonight.

I`m sure the debate will continue. Robert Reich with University of
California —

REICH: Thanks very much.

MATHISEN: — and Jerry Howard with the National Association of
Homebuilders —

HOWARD: Thank you.

MATHISEN: — thank you.

HERERA: Coming up, don`t have a 401(k)? Don`t worry. There are
other ways to build a nest egg and we will show you how, coming up.

(MUSIC)

HERERA: And here`s a look at what to watch for tomorrow. The ADP
report will offer a read on the health of private employment. Also on the
data front, international trade, an important economic indicator, and
weekly mortgage applications figures are out. And that is what to watch
for on Wednesday.

MATHISEN: And baby boomers have too much risk in their retirement
portfolio, so says a recent study by Fidelity, which found that many older
401(k) account holders, like me, had higher acquisition to equity than is
recommended for their age. So, there.

Part of the reason is that many don`t regularly rebalance their
portfolios.

HERERA: But what if you`re one of the 77 million U.S. workers who
don`t even have a 401(k) or an employer-sponsored retirement plan? Fear
not. There are other ways to build that nest egg.

And Sharon Epperson is here to show you how to do it.

So, what do you need to do to secure your retirement income if you
don`t have that pension plan, the 401(k)?

SHARON EPPERSON, NIGHTLY BUSINESS REPORT CORRESPONDENT: And that`s
almost half of workers. So, there are other ways to save that you should
know about and that`s starting with an IRA, an individual retirement
account is the best place to start saving. You can save up to $5,500 this
year, and a traditional or a Roth IRA.

And the IRA — yes, it does not allow you to save as much as a 401(k),
with this year you can save up to $18,000, but it`s a place to start and
you still get some of the tax advantages that you would get with a
traditional 401(k) or Roth or 401(k) in that. You can either have it tax
deferred or with a Roth account tax free savings that you`re building up.

MATHISEN: What if I`m self-employed?

EPPERSON: Well, the great news there is, you have more ways to save
and even more ways to save a lot more money. You have choices which most
choose between a SEP IRA and solo 401(k). You can save up to $53,000 in
these accounts. What they are really looking at —

MATHISEN: You can put that in annually?

EPPERSON: You can put that in annually. That`s about 25 percent of
your earnings, self-employment income that you`re able to put away in that
SEP IRA. The solo 401(k) is, part 401(k) and part — kind of like a SEP
IRA, 25 percent of your earnings can go in there, and then there may be
cash contributions if you`re 50 or older. So, you could potentially put in
more money.

The other thing to think about is a simple IRA. Not as many people
have those because you can`t put in as much money, but $12,500 —

HERERA: At least, it`s something, right?

EPPERSON: Right.

HERERA: There are tax advantages to all of those accounts. Outside
of tax advantage accounts, what do you think about?

EPPERSON: And that`s very important to think about if you`re a high
earner, because you really want to think about the number that you want to
save, the percentage which should be 10 to 20 percent of your income. And
so, you`re going to have a taxable account and you won`t have the tax
savings but you want a nest egg.

So, the important thing is to think about your risk tolerance, think
about the things that the Fidelity study said that are important in terms
of growth. Not so much, you know, having all of your money in equities but
having a diversified portfolio and taxable account.

MATHISEN: But fund the tax-exempt accounts first to the max?

EPPERSON: Absolutely. First money should definitely go into those
tax exempt accounts, tax advantage accounts.

HERERA: Thanks, Sharon.

EPPERSON: Sure. My pleasure.

MATHISEN: Thank you. It`s good to see you.

All right. The entrepreneurial spirit was alive and well at the White
House today. Start-up founders from All Walks of Life made their way to
the nation`s capital and took part in the first ever demo day. “Shark
Tank” at the White House.

Kate Rogers (NYSE:ROG) reports from the White House and shows us what
innovations were on display.

(BEGIN VIDEOTAPE)

MOZIAH BRIDGES, MO`S BOWS: I started when I was 9 years old and
because I really liked to just (INAUDIBLE) and couldn`t find any bow ties
that really fit my style and my personality. So, I started making my own.

KATE ROGERS, NIGHTLY BUSINESS REPORT CORRESPONDENT: Moziah Bridges
has been on “Shark Tank” and the Steve Harvey show, but today, his hard
work was on display for a different audience at the White House. The now
13-year-old is founder of Mo`s Bows, a bow tie company based in Memphis,
Tennessee.

He`s part of a group of some 90 entrepreneurs from around the country
invited to partake in the White House`s first ever demo day.

BRIDGES: I feel great being here showing the bow ties to my president
and spreading my business.

ROGERS: Also on hand were sisters Betsy and Emily Nunez to demo their
business Sword & Plough. They grew up in a military family and are now
repurposing military surplus into handbags.

BETSY NUNEZ, SWORD & PLOUGH: We`ve repurposed a total of 30,000
pounds of military surplus, have supported 38 veteran jobs and we`ve been
donating 10 percent of our profits back to organizations that support
veterans for the past two years.

ROGERS: One of the pillars of Demo Day is inclusivity, so the White
House kicked off the event today by announcing a slew of initiatives.
Among them, commitments from big venture capital firms like Kleiner Perkins
and the Andreessen Horowitz, as well as from tech giants like Google
(NASDAQ:GOOG) and Facebook (NASDAQ:FB) to both hire and invest in more
women and underrepresented minorities.

President Obama stopped by the event to see what the entrepreneurs had
on display.

BARACK OBAMA, PRESIDENT OF THE UNITED STATES: We`ve got to make sure
that everybody is getting a fair shot. The next Steve Jobs might be named
Stephanie or Esteban. They might never step foot in Silicon Valley. We`ve
got to unleash the full potential of every American, not leave more than
half the team on the bench.

ROGERS: The hope is that no matter who you are or where you are from,
the idea of one day becoming your own boss is an attainable dream.

For NIGHTLY BUSINESS REPORT, in Washington, I`m Kate Rogers
(NYSE:ROG).

(END VIDEOTAPE)

MATHISEN: I want Mo to come and teach me how to tie a bow tie.

HERERA: I think you`d look great in Mo`s Bows.

MATHISEN: I have tried with YouTube and everything. I`ve got to have
him up here. We`ll have him on.

HERERA: Absolutely.

All right. That`s a great story to end NIGHTLY BUSINESS REPORT on for
tonight. I`m Sue Herera. Thanks for joining us.

MATHISEN: And I`m Tyler Mathisen. Thanks from me as well. Have a
great evening, everybody, and we`ll see you tomorrow.

END

Nightly Business Report transcripts and video are available on-line post
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Transcriptions, LLC. Updates may be posted at a later date. The views of
our guests and commentators are their own and do not necessarily represent
the views of Nightly Business Report, or CNBC, Inc. Information presented
on Nightly Business Report is not and should not be considered as
investment advice. (c) 2015 CNBC, Inc.

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