Transcript: Nightly Business Report – April 26, 2016

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

SUE HERERA, NIGHTLY BUSINESS REPORT ANCHOR:  Sour Apple (NASDAQ:AAPL).
Thirteen years of quarterly revenue growth has ended, putting pressure on
the world`s most valuable company to create the next must-have device.

TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR:  Don`t lose out.  A
lucrative Social Security strategy, it`s about to go away if you don`t act
fast.

HERERA:  Heartache and disappointment after patients pled in vain for the
FDA to fast track a drug for a devastating illness.

All that and more tonight on NIGHTLY BUSINESS REPORT for Tuesday, April
26th.

MATHISEN:  Good evening, everyone, and welcome.

Well, it had to happen some day and today was the day.  Apple`s 13-year
growth surge has ended with a thud.  Now, why do we pay so much attention
to this one company?  Well, because you may own it outright or own it in
your mutual funds and not even know it, and no matter, the company has an
outside influence on indexes such as the S&P 500 and the NASDAQ.

For a superstar like Apple (NASDAQ:AAPL), today`s results were nothing less
than stunning.  Quarterly revenue fell for the first time since 2003 and
sales of iPhones, Apple`s most popular product, two-thirds of revenue,
declined for the first time ever.  Apple (NASDAQ:AAPL) earned a buck 90 a
share.  Expectations were for $2.  Revenue also missed forecasts.  It
logged in at $50.6 billion, more than 12 percent lower than one year ago.

Worse, the outlook was tepid.  Investors show their disappointment, shares
falling sharply in initial after-hours trading.

Josh Lipton has more on the Dow component`s disappointing results.

(BEGIN VIDEOTAPE)

JOSH LIPTON, NIGHTLY BUSINESS REPORT CORRESPONDENT:  Fifty-one-point-two
million, that was a big number, that is the number in Apple`s latest
earnings report.  That is the number of iPhones Apple (NASDAQ:AAPL) shipped
in the quarter.

Now, that did beat estimates.  Analysts predicted iPhones at 53 million.
Still that was down 16 percent.

I had the opportunity to talk to Apple (NASDAQ:AAPL) CEO Tim Cook.  He
pinned the pressure on a couple different factors.  One he says tough
comes.  We know the iPhone 6 was a blockbuster.  In Q2 last year for
example, Apple (NASDAQ:AAPL) shipped around 61 million iPhones.  So, tough
comparison there for Apple (NASDAQ:AAPL).  He talked about macro weakness
and some currency headwinds.

Two questions for investors is where is the iPhones franchise head from
here?  Cook told me he remains bullish.  He talked about new markets in
India, for example, up more than 50 percent.  He talked about the latest
iPhone, the SE, where he said it`s opening up new kinds of customers for
that smaller form factor.  He said they continue to take market shares from
rivals, a record number of Android switchers.

Cook telling me we are still in the early innings of the iPhone.

For NIGHTLY BUSINESS REPORT, I`m Josh Lipton in Cupertino, California.

(END VIDEOTAPE)

HERERA:  Let`s turn now to Dan Morgan.  He owns more than a million Apple
(NASDAQ:AAPL) shares.  And despite today`s earnings miss, he says he is
still bullish on the company and the stock.  He is the senior portfolio
manager at Synovus Trust.

Welcome, Dan.  Nice to have you here.

DAN MORGAN, SYNOVUS TRUST SR. PORTFOLIO MANAGER:  Hi, Sue.

HERERA:  Are you disappointed in this report?  Does it raise new red flags
for you?

MORGAN:  Well, as you said, it`s a kind of a monumental report in terms of,
you know, the growth kind of hitting the wall here.  But, you know, if you
think of Apple (NASDAQ:AAPL) in terms of historically speaking, it`s been a
great quarter — but I feel like we`ve got to give them a little more
opportunity to work on some of the things they are doing in their new
product categories and the iPhone 7 coming out, in terms of, you know,
generating future growth.

MATHISEN:  Let`s talk — I mean, I take your point that Apple (NASDAQ:AAPL)
is in part a victim of its own past success.  That the comps from last
year`s quarter, this quarter, were very good because they had a hot new
product out.

MORGAN:  Right.

MATHISEN:  But isn`t there in the history of technology companies, tech
companies that are basically hardware companies, Dell (NASDAQ:DELL), IBM,
at some point, the game sort of ends?  I`m not saying this is it, but do
they have to get beyond just being — a hardware company is what I`m
asking?

MORGAN:  Yes.  I mean, they are experiencing their service business.  You
look at iTunes, you look at Apple (NASDAQ:AAPL) Pay.  You look at their TV
subscriptions.

They are doing things.  They did about $5 billion revenues on that.  That
was actually up from a year ago.

So, you know, it`s a tough climb.  But overtime, maybe that could become a
larger percentage of the revenue mix and can help them cushion some of the
maturity that we are seeing in the smartphone market.

HERERA:  They were down certainly in after hours trading, Dan.  If, indeed,
that selling continues in tomorrow`s trading session, would you be adding
to your position in Apple (NASDAQ:AAPL)?

MORGAN:  Well, Sue, the way we look at Apple (NASDAQ:AAPL) is, it`s
something is on our buy list.  It`s something we would buy for new monies
that would come in, in terms of being committed towards shocks.  It isn`t
something that we would go down and double down on.  We have a very large
position as you announced earlier in the stock.

Our cost basis is about $5.  We`ve owned it since 2004.  So, you know,
pretty much every account has Apple (NASDAQ:AAPL) right now.  They`ve got
it mostly at a pretty large gain.

So, you probably wouldn`t be doubling on it right now.  Obviously, for new
monies that coming in, we would be adding Apple (NASDAQ:AAPL).

HERERA:  All right.  Thanks for clarifying that.  We appreciate it, Dan.

MORGAN:  OK.

HERERA:  Dan Morgan with Synovus Trust.

MATHISEN:  Well, three other Dow components with earnings today.  Du Pont,
which is merging with Dow Chemical (NYSE:DOW), raised its earnings outlook
for the year.  Aggressive cost cutting helped offset weaker results from
its farming-related businesses.  3M (NYSE:MMM) and Procter and Gamble both
reported a rise in profits and a decline in sales — a trend that is
continuing for many companies this earnings season.  In trading today, Du
Pont rose while 3M (NYSE:MMM) and Procter & Gamble (NYSE:PG) were lower.

HERERA:  On Wall Street, it was a tug of war between the bulls and the
bears.  Health care and information technology were way on the market.  The
Dow rose 13 points to 17,990.  The NASDAQ dropped 7 1/2, its first four-day
losing since January.  And the S&P 500 added nearly four.

MATHISEN:  The Federal Reserve began its scheduled two-day meeting today.
And though it is a virtual certainty that policymakers will hold steady,
the Central Bank and Wall Street aren`t necessarily on the same page when
it comes to their outlooks.

Steve Liesman explains the disconnect.

(BEGIN VIDEOTAPE)

STEVE LIESMAN, NIGHTLY BUSINESS REPORT CORRESPONDENT:  The CNBC Fed survey
shows markets are definitively not looking for a rate hike as the Fed meets
this week.  One hundred percent of those surveyed say the Fed standing pat.

Ninety-four percent do say the next move by the Fed will be a hike rather
than a cut.  But they are looking for a later, looser Fed.  The 48
respondents, they include economists, fund managers and strategists from
across the industry.  They now see the next rate hike coming in August.
That`s two months later in the prior survey.

So, here are the expectations for the actual funds rate.  You can see the
blue line is CNBC Fed survey, the average, 0.78 percent, 1.4 percent for
2017, 2.1 percent for 2018, and 2.7 percent for the long one.

You can see this is closer but still below where the median of the Federal
Open Market Committee officials are.  So, the biggest gaps there being in
2018, nearly a percentage point.  Where the Fed rates will be and where the
market rates will be.

Looking at the change and where people think the stock market is going to
be, a nice read down here.  This is the January swoon we had, those concern
about recession.  You can see we recovered where we were back in December,
but the bad news in this chart is they have the market fully valued right
now.  Just looking for a 1 percent increase for the rest of this year, more
of the hopes and dreams for the market are in 2017, where they`re looking
for a 7 percent increase from the current level.

All of this comes amongst a better but not wonderful economic outlook.
Take a look at the chance of recession.  It has climbed pretty steadily
after the January concerns over the economy.  Now, it`s been inching back
down, just a 21 percent probability of a recession seen in the next 12
months.

But take a look at GDP.  This is the views on GDP over the past 12 months
here.  We thought in December 2014, 2.8 percent was the view for the 2016
GDP.  That has come steadily down as we have increased pessimism over the
economy.

And now, for the first time the average is 1.95 percent, the first time
below 2 percent on the outlook for 2016 growth.  For 2017, it`s up a little
bit better, 2.2 percent.  But not hitting anywhere near that 2 percent that
people were hoping for.

For NIGHTLY BUSINESS REPORT, I`m Steve Liesman.

(END VIDEOTAPE)

MATHISEN:  Still ahead, while you only have a few days to potentially gain
thousands, yes, thousands more in Social Security benefits.

(MUSIC)

MATHISEN:  Twitter shareholders were looking for growth and they didn`t
find it in the post-recent quarter, despite beating earnings estimates by 5
cents.  Revenue came in on the lower end of the forecast.  The company also
said second quarter sales would be soggy.  And that sent shares sharply
lower in initial after-hours trading as you see right there.

Julia Boorstin has more on Twitter`s results.

(BEGIN VIDEOTAPE)

JULIA BOORSTIN, NIGHTLY BUSINESS REPORT CORRESPONDENT:  The key takeaway
for Twitter — better than expected user growth wasn`t enough to overshadow
disappointing guidance.  The company warning that revenue is not growing as
fast as expected and won`t in the second quarter, saying the reason is that
brand marketers did not increase spending as quickly as expected.

There were some positive signs.  The company added 5 million new monthly
active users, 2 million more than expected.  This is key because last
quarter, Twitter`s core user base declined for the first time.

I spoke to Twitter`s COO Adam Bain, who claims Twitter has a number of
features that would rev up revenue growth that won`t kick in until the
third quarter, such as its NFL deal and some new video features for
advertisers.  I also spoke to CEO Jack Dorsey who said the better than
expected user growth is inclusive to the service.  She was confident in the
ability to strengthen the service and the user base even more.

But that light guidance for the second quarter, along with concern that
advertisers aren`t spending more, sending the stocks lower after hours.

For NIGHTLY BUSINESS REPORT, I`m Julia Boorstin in San Francisco.

(END VIDEOTAPE)

HERERA:  Chipotle posted its first quarterly loss as a public company.  The
food scare taking on the Mexican food chain`s results as it fights to win
back customers.  Chipotle lost 88 cents per share, which was actually
narrower than expected.  Revenue fell more than 23 percent from a year ago
to $834 million.  As for the stock, it fell initially in after hours
trading, as you can see there.

And Susan Li has more on Chipotle`s quarter.

(BEGIN VIDEOTAPE)

SUSAN LI, NIGHTLY BUSINESS REPORT CORRESPONDENT:  Expectations were this is
going to be a rough quarter for Chipotle, probably the worst for the
company since they listed back in 2006.  And the numbers really confirm
that, yes, a narrower loss and anticipated 88 cents apiece, but then
revenue has declined more than expected.  Comp store sales, same store
sales fell close to 30 percent.  And now, it`s actually worse than the
street had expected.

So, in all in all, it was a tough quarter for Chipotle after the E. coli
outbreak last year and the stock is down 40 percent from 2015 highs.  But
it`s not stopping their expansion plans.  That`s a big takeaway from these
numbers.  Looking forward, it Chipotle wants to open 220, 235 stores in
2016.

For NIGHTLY BUSINESS REPORT, I`m Susan Li.

(END VIDEOTAPE)

MATHISEN:  EBay some new revenue growth without PayPal, and that is where
we begin tonight`s “Market Focus”.

The e-commerce posted better than expected financial results for its latest
quarter.  The company saw a more than 3.5 percent increase in revenue,
which is key.  Since the company has been struggling with growth since
spinning off its electronic system PayPal last summer.  Net income did fall
but was still ahead of expectations.

Shares initially rose and they fell backwards following a one percent gain
during the regular session.  Shares closed at $24.49.

Meantime, shares of AT&T (NYSE:T) initially rose, but then dipped back
after-hours, as the telecom company beat analyst expectations on both the
top and bottom lines.  The company`s books, just over $40 billion in
revenue for the quarter.  That is up 24 percent.  Why?  Because it bought
DirecTV.

AT&T (NYSE:T) ended the regular session down fractionally to $38.09.

Eli Lilly (NYSE:LLY) saw profit fall 17 percent in its latest quarter.  The
drugmaker attributed the loss to impact from Venezuela`s financial crisis
and devalued currency.  Revenue rose, though, thanks in part to sales of
newly introduced drugs.

CEO John Lechleiter remarked on the company`s first quarter results.

(BEGIN VIDEO CLIP)

JOHN LECHLEITER, ELI LILLY CHAIRMAN & CEO:  We`ve had six new product
launches starting in 2014.  We`ve got two drugs currently under regulatory
review, seven more in the late-stage pipeline.  So, as we said several
years ago, we hope that that time, Lilly would be a new product story.  I
think that`s proving out and we`re pleased with the first quarter.

(END VIDEO CLIP)

MATHISEN:  Shares fell 2 percent to $76.27.  Despite reporting an 80
percent decline in quarterly profit, the energy giant BP managed to top
analyst`s estimates.  The company said its earnings were affected by nearly
billion dollar write-off for damage claims related to its 2010 oil spill in
the Gulf of Mexico.  In addition, BP cut its spending target and said it
plans on making additional cuts if oil prices remain low.  Shares of BP,
higher by 5 percent to $33.49.

HERERA:  Lower fuel costs and an increase in passenger revenue helps lift
profits at JetBlue.  The results topped analysts` earnings target, while
revenues fell pretty much in line.  Shares initially fell, however, after
the company reported a drop in unit revenue and said it expects another
decline next quarter.  Shares of JetBlue finished the day down a fraction
to $20.33.

Lockheed Martin (NYSE:LMT) posted a better than 15 percent increase in
sales in its latest quarter, which tops analyst`s estimates.  Profits,
however, declined as a result of costs associated with job cuts in the
company`s aeronautics division.  Despite the decline, Lockheed raised its
full year guidance for both earnings and revenue.  Lockheed Martin
(NYSE:LMT) rose nearly 3 percent to $232.16.

Standard & Poor`s downgrade its AAA credit rating on ExxonMobil (NYSE:XOM)
to AA plus after citing lower oil prices and concerns over the company`s
debt level.  This is the first time since 1949 that Exxon has ever received
a rating lower than AAA.  So, but that leaves only two American companies
with AAA ratings, Johnson & Johnson (NYSE:JNJ) and Microsoft (NASDAQ:MSFT).
Shares of Exxon were nonetheless up a tick to $87.63.

IBM raised its quarterly dividend to $1.40 per share.  That`s up from
$1.30.  The yield on the stock is now 3.67 percent.  Shares of IBM were up
just a fraction to $149.08.

MATHISEN:  Turning now to the topic of Social Security, where two very
popular and lucrative strategies for claiming the benefits of being
eliminated.

Sharon Epperson joins us now with what you need to know.

Sharon, you think time is running out.  You asked me earlier today, how old
I was.

SHARON EPPERSON, NIGHTLY BUSINESS REPORT CORRESPONDENT:  Which is really
not politically correct.

MATHISEN:  When I told you I was 29, you seemed surprise.

EPPERSON:  I want all of my friends to be able to take advantage of that.
That`s why I asked you this question.

MATHISEN:  This change, it has something to do with age?

EPPERSON:  It definitely has a lot to do with age.  And here, the two
issues that we`re talking about.  One strategy that has been very lucrative
for a lot of couples has been called file and suspend.  The other is
referred to as restricted application and they`re both coming under attack
or being changed in a big way.

File and suspend is actually going to go away. The deadline is April 29th.
It affects married couples.

And the way that it works is one spouse files for their benefits now but
collects later.  But it actually triggers the ability for their spouse to
be able to collect spousal benefits.  Why are spousal benefits so
important, a lot of times, if you are the hiring spouse, you`re going to
have a bigger benefit and even that spousal benefit, which is half of what
you are making is going to be a better deal for yourself than their own
benefit.  So, that`s why a lot of folks wanted to take advantage of this,
or I should say, a lot of financial advisers wanted their clients to take
advantage of this.  And now, they will not be able to.

HERERA:  Right, go ahead.

EPPERSON:  So, you have three days.  You have until Friday, to file and
suspend.  That`s the deadline.

HERERA:  What about another part of this program that maybe changing?

EPPERSON:  So, the restricted application part is also changing.  And the
way that that one works is one spouse will file for Social Security.  The
other spouse at 66 or later will actually collect only their spousal`s
benefits, and allow their own benefit to grow.  So, another reason why this
is so important is this is another way to delay Social Security.  I know a
lot of people out there say I want my money right now.

But the benefit of delaying Social Security from 66, to 70, is 8 percent a
year gross.

HERERA:  Wow.

MATHISEN:  In higher benefits, higher monthly benefits.

EPPERSON:  That`s like basically an 8 percent return.

MATHISEN:  If you can wait, you are well-paid.

EPPERSON:  Exactly.  And we`re not seeing that right now in the market.  So
that`s a great deal for a lot of people.

MATHISEN:  If I want to take advantage of either of these deals, what do I
have to do if I win?

EPPERSON:  The first thing you should do, contact Social Security.  See if
you are eligible for these things.  Go to some of the Social Security
planning website.  They can tell you a lot of information.  Consult a
financial adviser.

Finally, realize that Social Security is not everything for your
retirement.  You got to save more.  You got to save more.

HERERA:  It`s just part.

EPPERSON:  It`s just part.  It`s just part.

MATHISEN:  Very important information.  Thanks, Sharon Epperson.

HERERA:  All right.  Coming up, a 12-hour event that ended with heartache
and disappointment and questions about the drug that some patients see as
their only hope.

(MUSIC)

HERERA:  The FBI reportedly plans to keep its Apple (NASDAQ:AAPL) iPhone
hacking methods a secret.  According to Dow Jones, the agency knows little
about the hacking tools that was used to open the San Bernardino terrorist
iPhone.

MATHISEN:  The business of pain.  Last night, we showed you how widespread
prescription drug abuse is in America.  Tonight, one man`s story and what
lawmakers are doing about it.

Dina Gusovsky has part two of our series.

(BEGIN VIDEOTAPE)

BOBBY LONG, RECOVERING DRUG ADDICT:  I was a guy that sold millions of
dollars in real estate and had the corner house in Naples, Florida, with
the wife and the two new cars.  I was that guy, and addiction doesn`t care.
Addiction will take anything from anyone.

DINA GUSOVSKY, NIGHTLY BUSINESS REPORT CORRESPONDENT:  Bobby Long had been
sober for about eight years and life was good, until he had neck surgery.

LONG:  They prescribed me low dose oxycodone.

GUSOVSKY:  Oxycodone is a powerful opioid, a painkiller.  Shortly after, he
was hooked.

LONG:  I burned through a 30-day prescription in a week.  Then I started
getting sick.  I didn`t know why.  And then I figured, I`m getting sick
because I`m withdrawing.

GUSOVSKY:  So, he found a doctor, like so many other Americans do, who
helped feed his addiction.

LONG:  The way I found this doctor was other people telling me, other
people that were in and out of recovery, oh, if you go to this doctor,
he`ll write you whatever you want.

GUSOVSKY:  That`s causing law makers to come up to solutions to try to
reduce America`s addiction to these powerful painkillers.

SEN. PAT TOOMEY (R), PENNSYLVANIA:  The Government Accountability Office
discovered in a single year about 170,000 Medicare beneficiaries were
doctor shopping, which is the term for going to multiple doctors to get the
same opioid prescription and then going to multiple pharmacies getting them
all filled.

GUSOVSKY:  Which is why the tool “lock-in” is now used by Medicaid and many
private insurers.  It locks the patient into a single doctor and pharmacy
so prescriptions can be tracked.  Legislation was recently passed to add
Medicare to the lock-in program.

TOOMEY:  The Congressional Budget Office estimates it will save taxpayers
about $100 million a year, which is not insignificant.

GUSOVSKY:  Opioid abuse is wrecking havoc on the economy as well, costing
the United States about $55 billion, almost half of that due to loss of
productivity in the workplace.

Clearbrook Treatment Centers provide care for many patients were addicted
to painkillers.

RICHARD CONABOY, CLEARBROOK TREATMENT CENTERS:  We are always, always
filled, which says a lot about society, unfortunately.

GUSOVSKY:  Richard Conaboy knows all too well, a recovering addict,
himself, sober for decade, now the vice president of clinical services
here.

CONABOY:  We have a lot of union people, truck drivers, whatever, come
through here and started off with pain pills and stepped down, heroin.

GUSOVSKY:  Down?

CONABOY:  Down to heroin, because pills became too expensive.  So, they
actually stepped down to heroin, which sounds ridiculous.

GUSOVSKY:  Ridiculous, maybe, but a sad reality for far too many.

For NIGHTLY BUSINESS REPORT, I`m Dina Gusovsky in Wilkes-Barre,
Pennsylvania.

(END VIDEOTAPE)

MATHISEN:  Tomorrow, part three of our series on the business of pain and
the medical advances being made to try and prevent prescription drug abuse.

HERERA:  A panel of advisers to the FDA voted not to recommend expedited
clearance for a drug for a rare deadly muscle destroying disease, a story
that we`ve been following here.  Shares of Sarepta, the maker of that
medicine, tumbled 26 percent and as Meg Tirrell reports from Hyattsville,
Maryland, last night`s decision crushed the hopes of patients and families
living with that disease.

(BEGIN VIDEOTAPE)

UNIDENTIFIED FEMALE:  The most important treatments of my life —

MEG TIRRELL, NIGHTLY BUSINESS REPORT CORRESPONDENT:  It was an emotional
event that lasted nearly 12 hours, and which ended in heartbreak for many.
On one side, the FDA — unconvinced enough evidence exists to approve a
drug for a devastating disease.  On the other, hundreds of patients and
advocates convinced this experimental medicine is their best hope.

JENN MCNARY DUCHENNE PATIENTS` MOM:  These boys are defying national
history.  We know that because their treating clinicians see it.  Their
parents see it.  And the patients, themselves, feel better.

TIRRELL:  Jenn McNary`s two sons have Duchenne muscular dystrophy, a rare
muscle-wasting disorder that puts kids in wheelchairs by their teens.  It`s
generally fatal by age 30.  No treatments are proved for it in the United
States.

McNary was one of more than 50 patients and doctors who spoke during a two-
and-a-half hour public hearing Monday, in front of a panel of outside
advisers to the FDA.  The panel was charged with evaluating data,
supporting an application for approval of a drug called Eteplirsen,
developed by Boston`s biotech company Sarepta Therapeutics.

The public comments were impassioned.  Patients and their parents and
supporters pleaded with the panel to recommend approval of the drug they`re
convinced is helping them.

UNIDENTIFIED MALE:  Unless you have a child that has muscular dystrophy,
you don`t understand.

UNIDENTIFIED FEMALE:  It`s time to listen to the real experts.

UNIDENTIFIED FEMALE:  FDA, please don`t let me die early.

TIRRELL:  But the panel was troubled by the lack of data.  Sarepta ran a
key study in just 12 patients.  There was no placebo control.  Most drugs
even for very rare diseases are tested in at least dozens of patients
before they win approval.

Given the lack of options for Duchenne, Sarepta is seeking what`s known as
accelerated approval, which allow smaller, faster trials.

Accelerated approval is a mechanism for the FDA to speed certain drugs to
market.  It`s reserved for severe diseases with few or no good treatment
options.  And it`s contingent upon the company`s running confirmatory
studies after the drugs are approved.

Though the FDA`s Dr. Janet Woodcock (ph) emphasized the flexibility of
accelerated approval Monday, the agency`s review of the data was decidedly
negative.

SIMOS SIMEONIDIS, RBC CAPITAL MARKETS SR. BIOTECH ANALYST:  She left the
door opened in the last comments she made, that, you know, we`re open and
we will consider approving the drug.  I think the clinical review team
spent the next hour-and-a-half saying essentially, we don`t believe the
drug works or, at best, we don`t have evidence that the drug works.

TIRRELL:  Sarepta stock was hit hard Tuesday, after the panel ultimately
voted that the evidence does not support even accelerated approval.  But
the battle isn`t over yet.

DR. ED KAYE, SAREPTA INTERIM CEO:  What was really important to the FDA,
there was a lot of input from the patients about things that could be
passionate for a clinical trial, and some of the things that they
experienced.  And I think, hopefully, that will be used in the overall
consideration.

TIRRELL:  The FDA is set to decide whether to approve the drug by the end
of May, patient advocates are still hopeful.

For NIGHTLY BUSINESS REPORT, I`m Meg Tirrell in Hyattsville, Maryland.

(END VIDEOTAPE)

MATHISEN:  And finally tonight, former Citigroup (NYSE:C) Chairman Sandy
Weill and his wife Joan have given $185 million to the University of
California-San Francisco to finance a new neuroscience research center
there.  The gift is the biggest ever to the school and the biggest ever by
the Weills.

(BEGIN VIDEO CLIP)

SANDY WEILL, FMR. CITIGROUP CHAIRMAN & CEO:  Up until recently, we weren`t
able look at a brain while a person was alive, and once the person is dead
noting is happening.  But now, we have the tools to really see what`s
happening in one`s brain, and, therefore, can see the bad things that are
happening.  And we get to understand more about it.  And I think we are
looking at the decade where the neurosciences will catch up.

(END VIDEO CLIP)

MATHISEN:  The Weills were among the first to sign on to the giving pledge
started by Bill and Melinda Gates and Warren Buffett.  It challenges the
world`s billionaires to give away a majority of their wealth.  The Weills
have been very, very generous and very active philanthropists.  They stay
on top of the causes.

HERERA:  A great thing to be able to do.

That does it for NIGHTLY BUSINESS REPORT for tonight.  I`m Sue Herrera.
Thanks for joining us.

MATHISEN:  And I`m Tyler Mathisen.  Have a great evening, everybody.  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
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on Nightly Business Report is not and should not be considered as
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