Transcript: Nightly Business Report- November 27, 2015

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

TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: Click `til you drop.
More shoppers go online rather than stand on line in the hunt for Black
Friday bargains.

The road ahead. Why this weekend could pave the way for record-
breaking November auto sales.

Sizing up the consumer. Stocks that may benefit from this holiday
season, our market monitor names some names.

All that and more tonight on NIGHTLY BUSINESS REPORT for Friday,
November 27th.

Good evening, everyone, and welcome. I`m Tyler Mathisen. Sue
Herrera has the evening off.

A mixed close on this holiday shortened trading day, but we begin
tonight with retail. Bargain hunters were out in force, especially online
looking for deals. As the biggest holiday shopping season of the year gets
underway, early reports from software firm Adobe show that shoppers spent
more than a billion dollars online between midnight and 5:00 a.m., that is
up about 20 percent from just last year.

Target (NYSE:TGT) reported a strong start to its Black Friday
weekend, the retailer said its stores saw a solid turn out yesterday and
that Thanksgiving Internet sales were the biggest ever. Other retail CEOs
also like what they`re seeing.

(BEGIN VIDEO CLIP)

GERALD STORCH, HUDSON BAY COMPANY CEO: We`re very pleased with what
we`re seeing on the Internet with people shopping on Thanksgiving, and this
morning. And we`re very pleased with the traffic in our stores as well.

TERRY LUNDGREN, MACY`S CEO: Last night, you know, was clearly the
kick off to thanksgiving shopping and we saw it not with just the lines but
with the purchasing. So, we were very encouraged that people finally not
only came out, but came out and bought.

DAVE BRANDON, TOY`S “R” US CEO: It`s been very promotional early in
the cycle here. We certainly offered a tremendous amount of value. We had
a lot of kickoff sales last night as part of our Thanksgiving opening.

We`ve got a lot of reasons for people other to come into our stores
or visit our Website.

(END VIDEO CLIP)

MATHISEN: As for the performance of some retail stocks, it was
mixed. Best Buy (NYSE:BBY), Walmart and Amazon (NASDAQ:AMZN) ended lower
while eBay (NASDAQ:EBAY) and Target (NYSE:TGT) rose.

And at the nation`s malls, foot traffic picked up throughout the day
following thin crowds overnight. Courtney Reagan is at the Woodfield Mall
outside Chicago, in Schaumburg, Illinois.

Courtney, how did the crowds compare with other years.

COURTNEY REAGAN, NIGHTLY BUSINESS REPORT CORRESPONDENT: You know,
Tyler, I think that the pattern that we`ve seen is fairly similar to what
we`ve seen in years past. When the doorbusters began at the big box
retailers like Walmart and Target (NYSE:TGT), that`s when you see the
initial big crowds. Once the shoppers get what they came for, they go back
home.

Overnight, it does thin out and you see a bit of a lull. Midmorning
to late afternoon, you see the crowds surge again. That`s certainly what
happened here at the Woodfield Mall with the peak of the crowds coming
right around lunchtime once everyone had a chance to go home and recharge,
in some cases, though, folks just stayed out all night long. JLL is a
retail asset property manager and they say that 90 percent of their
retailers are reporting traffic levels this year are about the same if not
stronger than last year.

So, some analysts do disagree with that. They`re not quite sure that
they think that these crowds are as strong because of some of the online
deals that a number of the brick and mortal retailers offered much earlier
than the deals in stores.

MATHISEN: This is often a big weekend for electronics. So, what are
consumers buying and what are they spending?

REAGAN: That`s exactly right. Electronics, again, are a hot item,
especially at the big box retailers. Walmart`s chief merchandising officer
Steve Bratspies says the Roku TV was among the best sellers but all of the
40-inch TV brands sold very well. Target`s CEO called out the Fitbit, the
iPad as well as the Apple (NASDAQ:AAPL) Watch, and Target (NYSE:TGT) is one
of the few retailers that does sell the Apple (NASDAQ:AAPL) Watch.

Here at the mall, take a listen to what some of the folks were
buying.

(BEGIN VIDEO CLIP)

UNIDENTIFIED FEMALE: We are shopping for clothes, good deals.
Sweaters, jeans, socks, Jewelry, purses. I got a teenage girl at home.

UNIDENTIFIED MALE: A little bit of everything. A little shoes, I
got some socks, got a hat, got to cover up the dome a little bit. Other
than that, you want to see what we got. Maybe some jeans, some shirts.
Pretty much everything.

(END VFIDEO CLIP)

REAGAN: And Adobe says that LEGO products as well as some Barbie
products, some of those classic toys, are also among the best sellers in
there with all those electronics.

MATHISEN: All right. Court, that`s very much. Have a good weekend.
Courtney Reagan in Schaumburg, Illinois.

REAGAN: Thank you.

MATHISEN: Well, it could be a blockbuster season for the toy
business and all because of one franchise in particular. Jane Wells looks
at the force to be we reckon with in the toy aisle.

(BEGIN VIDEOTAPE)

JANE WELLS, NIGHTLY BUSINESS REPORT CORRESPONDENT: The force is
strong this toy season.

LEON NICHOLAS: There`s “Star Wars” and then there`s everything else.

WELLS: This could be the best year for toy sales in a decade. NPD
Group says total sales could near $20 billion, thanks in part to lower gas
prices and lower unemployment and one powerful franchise which started a
long time ago and a toy store far, far away.

Sales of Disney (NYSE:DIS) “Star Wars”-related merchandise are
expected to be much more forceful than Disney`s “Frozen” franchise was, in
part because it appeals to both boys and girls over three generations.

UNIDENTIFIED MALE: Give it everything you got.

WELLS: “Star Wars” the movie could possibly do $2 billion in box
office, but some analysts say “Star Wars” the merchandise machine could do
twice that, with Hasbro (NYSE:HAS) the clear winner, paying Disney
(NYSE:DIS) a licensing fee which some estimate at being 20 percent.

TIM CONDER, WELLS FARGO: Recently at an analyst meeting hosted by
Hasbro (NYSE:HAS), they mentioned that from their perspective they are
actually short a little bit of product that the sell through is that good.

SHAWN NICKELSON, TOYS “R” US MANAGER: The little 6 inch figures are
very popular, light-sabres, you know, this year they came out with you Mr.
Your own light saber, that is very popular.

WELLS: Toys “R” Us opened at 5:00 p.m. on Thanksgiving and this
store in San Mateo, California, had a strong Thursday night followed by
very light traffic the morning of Black Friday.

UNIDENTIFIED FEMALE: It`s quiet.

WELLS: Do you like that?

UNIDENTIFIED FEMALE: Yes, it`s nice.

WELLS: Of course, “Star Wars” toys are not the only gifts expected
to sell well this year, but it`s dominance will be impressive, most
impressive.

For NIGHTLY BUSINESS REPORT, Jane Wells, San Mateo.

(END VIDEOTAPE)

MATHISEN: Our next guest says it`s not going to be a particularly
jolly holiday sales season. He is Britt Beemer, chairman and CEO of
America`s Research Group.

Britt, good to see you as always.

So, you say it`s going to be a tough selling season. What tells you
that specifically and what do you think lies behind that?

BRITT BEEMER, AMERICA`S RESEARCH GROUP: Well, first of all, you have
no new products out there with the exception of “Star Wars” coming out. As
you know, the movie doesn`t hit the screens until like the 15th or 18th of
December. So, there will be this huge explosion in the end.

But the other problem is there`s nothing on the adult side that`s
exciting, over 50 percent of consumers saying there`s nothing new this year
and half of people say they`re buying less because of it. That means a
quarter of Americans are going to spend less because there`s nothing new.
That`s pretty hard to overcome.

Also, keep in mind every TV set, every computer that Walmart and Best
Buy (NYSE:BBY) has been selling yesterday and today is $50 to $100 less
than it was a year ago. So, you would have to have 18 percent more items
just to make up for the lower transaction rate. So, that`s the other
challenge out there. Because electronics drives so many early morning
shoppers both on Thursday and Friday, you know, our numbers said there was
a 15 to 18 percent increase last night.

MATHISEN: So you`ve got to have more — you`ve got to sell more
units to get the same amount of revenue in the door.

BEEMER: Exactly.

MATHISEN: Tell me a little bit about how you are analyzing which
sort of segments of the spending and shopping universe are going to do
well. I assume it`s going to be another year where online begins to eat
away again at enclosed mall traffic.

BEEMER: Well, there is no question. This is the issue that nobody
besides Walmart — Walmart went out this year very aggressively and said we
want to put a shot in Amazon (NASDAQ:AMZN). When they came out and said
all the early bird specials on Thursday evening will be online Thursday —
I mean, that`s a huge, huge issue.

Now, in our interview you were talking to consumers last night and
today they are all people who went online at Walmart who ultimately got it
but said sometimes it took 30 or 40 minutes before the transaction would
clear. So, that was a big aggravating.

But I think there`s no question that the mall traffic retailers are
struggling the most. In the month of October, only 19 percent consumers
talked into an enclosed mall, a year ago it was 23 percent. Those
retailers will have a more difficult time and the freestanding stores, you
know, like the Walmarts, like the Targets and Best Buys are going to get
more shoppers early.

The question is will they find what they want there or will they have
to go somewhere else. That`s the $64 billion question.

MATHISEN: All right. Britt, thank you very much. Have a great
weekend.

BEEMER: Thank you.

MATHISEN: Britt Beemer with America`s Research Group.

Well, in Chicago, a group of protesters marched through the city`s
most famous shopping district. Their goal: disrupt Black Friday shopping
on Michigan Avenue to bring attention to last year`s killing of a 17-year-
old by a police officer. Some demonstrators tried to block store entrances
North Michigan Avenue one of the largest and most lucrative shopping
streets in the Midwest.

On Wall Street, volume was light on this holiday shortened trading
day. The Dow Jones Industrial Average fell 14 points to close at 17,798,
weighed down by Disney (NYSE:DIS), more on that in just a minute. The
NASDAQ, 11 points higher and the S&P 500 rose by a single point.

For the week, the three major indexes were basically flat with the
Dow off about one-tenth of 1 percent. God prices slipped almost 2 percent
to near a six-year low, pressured by a strong dollar and a potential
increase in interest rates.

And in China, the Shanghai Composite fell 5.5 percent. That`s its
worst day since August as a government crack down on the country`s largest
brokerage firms expanded, it`s basically an insider trading investigation.

Investor attention also overseas where Russian says it will impose
economic sanctions on Turkey and cancel major investment projects in that
country. This in retaliation for the downing of a Russian fighter jet
earlier this week.

Jeff Cutmore in Moscow with more on the rising tensions between these
two nations.

(BEGIN VIDEOTAPE)

GEOFF CUTMORE, NIGHTLY BUSINESS REPORT CORRESPONDENT: After the
downing of the Russian bomber by the Turkish air force, both sides said
they didn`t wish to escalate the situation, but the language we have heard
over the last day or so only seems to have done that. President Putin
suggesting claims that the Turks didn`t know it was a Russian aircraft were
lame. He also went on to say that he believed that Turkey was taking oil
from the ISIS terrorist group.

Well, for his part, the Turkish president, Mr. Erdogan, came out and
said Mr. Putin shouldn`t play with fire. He also said it was Russia`s
ally, Syrian, that was taking ISIS oil.

So, the rift continues over these two powers and we understand that
the Russians are looking at what economic sanctions they may take in
retaliation. Meanwhile, the French President Francois Hollande has been
here, he sat down with President Putin for a three-hour meeting and it does
appear that some progress was made on getting Russia to work with the U.S.-
led alliance against ISIS.

Geoff Cutmore, NIGHTLY BUSINESS REPORT from Moscow.

(END VIDEOTAPE)

MATHISEN: Still ahead, `tis the season to buy some stocks and our
market monitor has a list you may want to consider.

(MUSIC)

MATHISEN: A new lawsuit is raising systems about Sumner Redstone`s
fitness to run two media companies. One of his former girlfriends alleges
he is mentally impaired and unable to make decisions for himself. The 92-
year-old executive, he is the executive chairman and controlling
shareholder of Viacom (NYSE:VIA) and CBS (NYSE:CBS). Redstone`s attorney
calls the lawsuit baseless.

Well, Volkswagen`s Audi brand has suspended two engineers amid the
emissions sand scandal. The automaker CEO said in an interview published
yesterday that the company is investigating whether some employees
deliberately manipulated emission control devices. The executive did not
give further details.

Meanwhile, Toyota (NYSE:TM) outsold Volkswagen for the fourth
straight month in October and that keeps the Japanese auto maker in the top
spot for global sales this year. Toyota`s vehicle sales totaled more than
8.3 million from January through October. Volkswagen delivered 8.2
million. Volkswagen sales have suffered following that diesel emission
scandal just mentioned.

Well, auto makers are hoping, of course, for a spike in sales. Black
Friday quickly becoming as important to the auto industry as it is for
general retailing. In fact, this weekend is expected to push the
industry`s sales rate to its highest point this year.

Phil LeBeau has more on the models most in demand from Lisle,
Illinois.

(BEGIN VIDEOTAPE)

PHIL LEBEAU, NIGHTLY BUSINESS REPORT CORRESPONDENT: The commercials
have been everywhere this month.

Black Friday has become one of the most popular days of the year to
buy a new car or truck.

RICK MORRISON, CUSTOMER: We were willing to wait and see what kind
of prices and what kind of deals would be out there on Black Friday.

RICHARD SCHAK, CUSTOMER: It`s a three-day weekend. It`s the end of
the month. So, they want to sell cars near the end of the month. It`s a
good time to buy cars.

LEBEAU: In fact, a number of analysts believe the November sales
rate about will top 18 million vehicles, which would be the first time the
U.S. has seen sales that strong for three straight months.

This year, trucks and SUVs are expected to be in heavy demand in
showrooms because gas is selling for just $2.05 a gallon nationwide. But
there`s another factor driving sales this weekend, auto makers are doing a
better job of packaging deals to attract buyers.

JESSICA CALDWELL, EDMUNDS.COM: There is a lot of set pricing, 20
percent off MSRP for the friends and neighbors program where there is a no
haggle price set, because people don`t have a lot of times, it`s the
holidays. And I think if you kind of package your deal in an easy to
understand quick manner, it probably is going to resonate more with
congratulations, which we`ve seen.

LEBEAU: For dealers, Black Friday means offering a little more off
the sticker price, on average about $3,100. But they`re making that up by
selling more models at higher prices. Still with nearly every auto maker
running holiday specials, the competition has become fierce.

BILL KAY, CHEVY DEALER: I see the volume all the manufacturers are
producing a lot of cars and dealers are selling them, but it`s such a
competitive marketplace to sell the environment itself — the margins are
much thinner than they used to be.

LEBEAU: Black Friday in showrooms and the green can be seen all
around.

Phil LeBeau, NIGHTLY BUSINESS REPORT, Lisle, Illinois.

(END VIDEOTAPE)

MATHISEN: Disney (NYSE:DIS) has lost unless millions of ESPN
subscribers and that is where we begin tonight`s “Market Focus”.

The company sports network has lost 3 million subscribers in a year,
bringing the number of customers the cable channel has back to what it was
ten years ago. The news ignites concerns about decreasing demand for
traditional cable television packages, shares of the Dow component tumbled
almost 3 percent.

And shares of KaloBios Pharmaceuticals surged today after the
company`s chief executive said he would not lend any more stock to those
looking to short sell it. The comments come after report that a large
percentage of the firm`s stock is short. Meaning that investors are
betting that its shares will go down. The stock was up nearly 30 percent
today. Worth noting that KaloBios is a small cap stock.

An update on that E. coli outbreak at Costco (NASDAQ:COST). Federal
officials say they`ve raced the bacteria back to a vegetable mix of celery
and onions that was in the company`s rotisserie chicken salad. Nineteen
people in seven states have been sickened as a result of the outbreak, the
stock up a fraction today.

Next Era Energy announcing it will sell two of its Texas natural gas
power plants for more than $1.5 billion. The transaction expected to close
in the first quarter of `16. Shares up slightly today.

Our market monitor likes mid cap stocks and has some names he says
are bargains that investors should add to their holiday shopping list. He
is Brian Peery, portfolio manager of the Hennessey Cornerstone Mid-Cap 30,
which is a concentrated fund 30 stocks that invest across different
sectors.

Last time Brian was on in May, he recommended JetBlue. It is up 27
percent. JCPenney, it was off about 5 percent. And Pilgrims Pride, the
food company, is 18 percent lower.

Brian, welcome back.

I know we`re going to get to JCPenney and JetBlue in just a minute
because they remain your picks.

What should I do with that other one, Pilgrim`s Pride (NYSE:PPC)?

BRIAN PEERY, HENNESSY FUNDS CO-PORTFOLIO MANAGER, MID-CAP 30 FUND:
We`ve sold all of our position in pilgrim`s pride, it was a bad environment
and it`s not a bad stock, it`s actually pretty cheap, but it doesn`t fit
into our growth criteria so that was one that we have since sold.

MATHISEN: Let`s move on to the picks that you like right now.
GameStop is your first choice. Why do you like it?

PEERY: You know, it`s interesting. I think that they`ve really got
— they`ve come down since their quarterly earnings and are still a decent
value at this point. I think the fourth quarter is actually going to be
pretty good, even though the consoles have been out for a couple years like
the Xbox One and PS4. I think the consumer today is looking for a way to
do value shopping, you see it in the Black Friday deals and GameStop is the
only place where you can go and get these used games that are still
perfectly good games, but you are going to get them at a good discount and
can pick up a couple of games for the price of a new one, and their margins
are better on the used game, their digital downloads are doing of well.

So, I think good forward I like this company and think it`s a great
price down there.

MATHISEN: All right. Let`s move on to a stock that a lot of people
are liking these days and that is for the first time in a long time,
JCPenney.

You still like it, you had it on your buy list earlier, it`s down a
little since then, but why are you hanging with it?

PEERY: I do. I like JCPenney. I think that it is a long-term
story, nothing is going to change in the coming weeks, I think. But
they`ve really positioned themselves well and it does take some time to get
back the consumers that they`ve lost over the last few years when they
really did kind of a broad change of what they were going to offer to the
consumer.

And they`re going back to their fundamentals. They`re really
providing a value proposition for today`s shoppers. People, I think,
during the Christmas season are going to go in and buy jewelry and get a
buy perfume and stuff and I think they will wind up doing well in that
area, and that`s going to boost their sales for the quarter.

MATHISEN: What is JetBlue doing so well that you like it again?

PEERY: Everything. The management seems fantastic. They are
keeping costs down. They`ve really started to expand upstream in terms of
adding to their mid service. I think they`re doing everything
exceptionally well, with oil down in the low 40s and I think it`s going to
stay low for a while. I think this is a great long-term situation as they
kind of move upstream and capture more market share from higher revenue
customers.

MATHISEN: Brian, thanks very much. Have a great weekend.

PEERY: Thanks, Tyler. You too.

MATHISEN: All right. Brian Peery is with the Hennessey Funds.

And coming up, why small businesses are betting on a $14 billion
Saturday.

(MUSIC)

MATHISEN: Here is what to watch next week: Europe`s central bank
meets Thursday, and policymakers could decide to introduce more stimulus to
the region. We will also hear from Fed Chair Janet Yellen. She is set to
testify in front of the Joint Economic Committee in Washington.

And Friday is jobs day, the government`s November employment report
is out, it is a critical one right ahead of that next fed meeting. That`s
what to watch next week.

Well, the International Air Transport Association is forecasting slow
growth in air travel, the firm says a weaker global economy and a slowdown
in China will decrease the number of people who fly over the next two
decades and that could depress airline orders for manufacturers such as
Boeing (NYSE:BA) and Airbus.

The international — small businesses, excuse me, are getting fewer
loans from big banks. According to “The Wall Street Journal” analysis of
the bank`s regulatory filing, there`s been a 38 percent decline in these
loans over the past decade. Alternative lenders are picking up the slack
and charging significantly higher rates.

Well, small business owners are gearing up now for big sales tomorrow
on what`s become — become known as Small Business Saturday. The day has
helped independent businesses in the past and as Kate Rogers (NYSE:ROG)
reports, they are hoping the trend continues.

(BEGIN VIDEOTAPE)

KATE ROGERS, NIGHTLY BUSINESS REPORT CORRESPONDENT: It`s not Black
Friday or Cyber Monday that Shrewsbury, New Jersey-based retailer
Kidegories was gearing up for this week. It`s Small Business Saturday,
sandwiched between the two major shopping days.

The shop owner Eileen Buriani is hoping for big results for her small
business.

EILEEN BURIANI, KIDEGORIES OWNER: It`s just a reminder for people
now with the Internet and everything else that they have — that they can
shop at, it`s helpful to keep reminding them that the businesses that have
been here for so long are still here.

ROGERS: The store does about 25 percent of its annual sales during
the holiday season and also enlists local vendors to make their wares.

BURIANI: I`ve got 90-year-old women knitting sweaters for us, I have
women who are in their 80s hand painting for us. We try to keep that local
feel and that one of a kind uniqueness there for people. You try to set
ourselves apart and shopping local is where you find that.

ROGERS: Now in it`s sixth year, Small Business Saturday is designed
to encourage shoppers to buy from local retailers. This year, three in
four consumers, say sponsor American Express (NYSE:EXPR) (NYSE:AXP), they
plan to support local retailers during the holiday season.

What`s more, some 80 percent of shoppers say they are willing to pay
slightly more for an item if it`s purchased from a small independently
owned retailer versus an online or big box store.

Last year, consumers spent $14.3 billion or Small Business Saturday,
according to American Express (NYSE:EXPR) (NYSE:AXP). So, small businesses
like this one have high hopes for this year.

But Small Business Saturday isn`t just limited to traditional
retailers. New York City-based Swerve Fitness is also getting in on the
action.

CHELSEA KOCIS, SWERVE FITNESS OWNER & COO: The holiday time is
definitely a time where people are looking to get a workout in, there`s a
lot of eating and celebration that goes on and there is a lot of pre-tox
and detox rides and working out that our riders do. So, we definitely see
the studio busy this time of year.

Our goals for participating Small Business Saturday is really to
engage with our community and raise awareness about how important it is to
support local small businesses.

ROGERS: Whether selling kids toys or exercise classes, small
businesses are united in their message — reminding consumers to shop small
this business season.

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

(END VIDEOTAPE)

MATHISEN: To read more about Small Business Saturday, head to our
website NBR.com.

And finally tonight, this Thanksgiving weekend officially kicks off
the holiday movie season, one of the busiest times of the year at theaters.
So, what can we expect at the box office between now and the end of the
year?

Julia Boorstin takes a look at Hollywood`s holiday offerings.

(BEGIN VIDEOTAPE)

JULIA BOORSTIN, NIGHTLY BUSINESS REPORT CORRESPONDENT: Everyone is
already talking about “Star Wars: The Force Awakens” which broke records,
selling more than $50 million in tickets a month before it opened. This
weekend, another Disney (NYSE:DIS) film is on track to dominate the box
office. Pixar`s “The Good Dinosaur” which is off to a solid start for the
long weekend, selling $1.3 million in Tuesday night tickets, that`s just
above “Frozen`s” Tuesday night start before it had the highest grossing
Thanksgiving weekend of all time.

UNIDENTIFIED FEMALE: I think there are more children`s movies to see
which is always exciting for me because I have two small kids.

BOORSTIN: And now, Warner Brothers “Rocky” spinoff “Creed” and Fox`s
“Victor Frankenstein” are under pressure to deliver at the box office and
stick out from competition both big screen and small.

PAUL DERGARABEDIAN, RENTRAK SR. MEDIA ANALYST: It`s been an
incredibly crowded marketplace in movie theaters since really the end of
summer and that continues today. Also, the small screen presents a ton of
choices and audiences are pulled in a lot of different directions.

BOORSTIN: On the heels of the latest “Hunger Games” film “Mockingjay
Part 2” drawing the lowest opening of the franchise, there are questions
about whether audiences are willing to go to theaters as much as they used
to.

UNIDENTIFIED MALE: I`d rather stay home and watch the classics.

UNIDENTIFIED FEMALE: I think it`s just cold and you want to stay
inside, you get to bond a little bit. Yes, I think that`s what`s nice
about staying in.

BOORSTIN: And their big concern “Star Wars” might crush the
competition.

DERGARABEDIAN: “Star Wars” presents such a formidable challenge for
every other movie out there in the marketplace, is it going to bring more
people to the multiplex for all the movies or is it just going to bring
more people in the multiplex for itself? And that is the billion dollar
question.

BOORSTIN: On the upside, a massive audience for “Star Wars” could
expose more moviegoers to trailers, which means the rising tied could end
up lifting all boats.

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

(END VIDEOTAPE)

MATHISEN: That`s NIGHTLY BUSINESS REPORT for tonight. Thanks for
joining us. I`m Tyler Mathisen.

Have a great weekend, everybody, and we will see you right back here
on Monday.

END

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

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