nightly business report - friday july 12 2013

7/28/2019 Nightly Business Report - Friday July 12 2013

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ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen andSusie Gharib, brought to you by --

(COMMERCIAL AD)

SUSIE GHARIB, NIGHTLY BUSINESS REPORT ANCHOR: Bad dream. Boeing`sDreamliner faces a crisis as an empty jet catches fire in London.


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TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: Tug-of-war. Goodbank earnings on one side, a warning from an economic bellwether on the other. And both couldhave implications for your investments.

GHARIB: And risky business, more baby boomers are learning how to trade options asthey near retirement. But do the risks outweigh the reward?

We`ll have all that and more tonight on NIGHTLY BUSINESS REPORT for Friday, July12th.

MATHISEN: Good evening, everyone. And welcome.

This was not a good day for Boeing (NYSE:BA) or its beleaguered 787 Dreamliner, orfor its investors. Shares of the aircraft-maker down 5 percent, keeping the Dow under pressurefrom midday on. That was when news hit that an empty Ethiopian 787 Dreamliner caught fire atLondon`s Heathrow Airport. It`s the latest in the string of incidents involving a new aircraft socritical to Boeing`s future.

And that`s why Airline Weekly`s Seth Kaplan says investors need to pay attention to

these kinds of events.

(BEGIN VIDEO CLIP)

SETH KAPLAN, AIRLINE WEEKLY MANAGAING PARTNER: From a perceptionperspective for Boeing (NYSE:BA), you know, these things are not helpful.

Investors are going to be looking for some certainty here. They`re going to be looking for, youknow, is this just the latest thing? Is there something else going forward that we don`t knowabout?

(END VIDEO CLIP)


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MATHISEN: Not helpful to put it mildly and as if the fire was not enough, in a separateincident, a Thomson Airways 787 en route to Florida was forced to return to Britain`sManchester airport after a technical problem was encountered on board. All aboard were safe.

Officials haven`t said what caused the problems on either plane, but investors didn`t waitfor an explanation. After hitting a 52-week high early today, Boeing (NYSE:BA) sharesnosedived. Also caught in the downdraft, some of Boeing`s top suppliers and parts makers likeSpirit AeroSystems, down more than 2 percent.

And coming up on the program, our "Market Monitor" guest will tell us whether hethinks Boeing (NYSE:BA) is a good long-term investment.

GHARIB: Well, that news about Boeing (NYSE:BA) overshadowed a real sentimenttug-of-war on Wall Street today with some blowout bank earnings battling a troubled warningfrom an economic bellwether. We`ll have more on those bank earnings in just a moment.

But what surprised investors was UPS, warning that profits will be lower this quarter ascustomers find cheaper ways to ship goods. The package delivery company also said it sees aslowdown in the U.S.

industrial economy.

UPS shares tumbled 6 percent.

And that gloomy news weighed down the major stock averages. But by the closing bell,stocks rebounded a bit and even posted new records. The Dow added three points, closing at anew high, and so did the S&P, up five points. The NASDAQ added 21 points.

MATHISEN: So, what is behind that warning from UPS, the world s largest packagedelivery company? And what could it mean for the overall economy?

Hampton Pearson explains.


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(BEGIN VIDEOTAPE)

HAMPTON PEARSON, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over):

The latest indicated that the global economic recovery still has a long way to go comes fromUnited Parcel Service (NYSE:UPS), the world s number one package delivery company. UPSsays there is an over capacity in the global air freight market and customers are looking forcheaper shipping solutions even if they take more time.

Economists say what happens at UPS and its rival FedEx (NYSE:FDX) are bellwethers

for the global economy.

MARK ZANDI, MOODY`S ANALYTICS: I do think that the slow down that we seenacross the globe coming into the summer was more than anyone anticipated. I think most of thetransportation companies, delivery companies expected better, more and had access capacity.So, you know, I think they were surprised by all of this.

PEARSON: UPS says it`s still expecting profits this year to be higher than 2012,

including solid growth in the second half of the year. Ongoing labor negotiations is anotherfactor impacting package volume growth but retail analysts view that as a short-term problem.

JOSHUA HERRITY, TELSEY ADVISORY GROUP: I think UPS will rebound andwill regain some -- or rebuild and ramp up on their new customer acquisition again, but thatprobably was a bit probably soft spot in the second quarter, as well, while as shippers maybechose FedEx (NYSE:FDX) over UPS due to those labor negotiations issues.

PEARSON (on camera): Meanwhile, UPS is counting on growth and its groundtransportation and small package business in the second half of the year to offset lower profitsand slower growth in the global air freight competition.

For NIGHTLY BUSINESS REPORT, I`m Hampton Pearson in Washington.


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(END VIDEOTAPE)

GHARIB: As we mentioned a moment ago, the one bright spot in today`s trading, bigprofits from two banking giants, JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) bothdelivered better than expected quarterly earnings.

At JPMorgan (NYSE:JPM), profits surged 31 percent to $1.60 a share.

That turned out to be 16 cents more than analysts` estimates. Revenue also better than expected,up 14 percent.

Wells Fargo (NYSE:WFC) posted a gain of 19 percent or 98 cents a share, a nickelhigher expected.

Those gains came despite the recent jump in interest rates and drop off in lending in themortgage market.

But CEO Jamie Dimon said today, his bank, JPMorgan (NYSE:JPM), will continue to dowell even as interest rates move higher.

(BEGIN VIDEO CLIP)

JAMIE DIMON, JP MORGAN CHAIRMAN & CEO: When rates go up, all thingsbeing equal, it may knock down mortgage origination.

UNIDENTIFIED MALE: Right.

DIMON: But if you have a healthy economy, that will filter through all of our books ofbusiness. So, all things equal, rates going up is a good thing, as long as the economy is growing.


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(END VIDEO CLIP)

GHARIB: Well, as for the outlook for the U.S. economy, Dimon is also pretty upbeat.

(BEGIN VIDEO CLIP)

DIMON: The American economy is getting -- slowly getting stronger, so the lendingwill come back when people have more confidence and try to do more capital investing. So,we`re kind of confident that you`ll see growth over the years as America recovers.

(END VIDEO CLIP)

GHARIB: And we`ll learn more about the outlook for the banking sector next week.Citigroup (NYSE:C) reports it`s earnings on Monday, followed by Bank of America(NYSE:BAC), Goldman Sachs (NYSE:GS) and Morgan Stanley

(NASDAQ:NBXH) (NYSE:MS).

MATHISEN: And here to give us more analysis on those bank earnings from today anda look ahead to next week, Fred Cannon. He`s director of the bank research firm Keefe, Bruvetteand Woods.

Fred, welcome. Good to have you with us.

FRED CANNON, KEEFE, BRUVETTE & WOODS DIRECTOR OF RESEARCH:Great to be on. Thanks.

MATHISEN: All right. Let`s talk first about JPMorgan (NYSE:JPM) and Wells.


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What were the highlights and what were the low lights in those reports? And there weremore highlights than low?

CANNON: There were. Fee revenues, number one. Both companies stronger thanexpected and credit.

And also, credit. Remember, these companies still have this big legacy asset portfoliosfrom the financial crisis, continuing to get better. And let`s face it, credit has been tight the lastthree years.

So, there`s no problem with credits developing.

So, as a result, they are releasing reserves they made for those loans and that`s keyelement to the growth.

GHARIB: So, Fred, do you think we`re going to hear the same sort of story line whenCiti reports next week, and also, Bank of America (NYSE:BAC)?

CANNON: We think so. I mean, remember, I think as Jamie Dimon said in yourprevious segment, this is actually getting to be a better environment for banking. Higher rates --while yes, there are some negatives -- are a better thing because the spread of what you can earnon lending versus your cost of deposit is widening overall when rates start to rise.

The second thing is home prices. Home prices are drifting up in the U.S. and the recentrun-up in interest rates isn`t dampening that. So, both of those things are a good thing, goodbackdrop for second quarter earnings.

MATHISEN: You know, we`ve seen an awful lot of strong performance from themidsize and the regional banks. What are they doing so well? I`m not talking here about the bigones, though, that`s sort of our main focus tonight. What are the mid-sized guys doing well?


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CANNON: Lending. If you look at the data for the second quarter, the large bankslending increase was a little over 1 percent, not great. The small banks overall was about 8percent. So really, the small banks are the ones out there aggressively getting out there withcustomers and making those loans. That`s what they`re doing right and that`s why some of stockprices are doing quite well.

GHARIB: You know, when we look at the Keefe Bruvette Bank Index, it`s been prettymuch on the rise since the beginning of the year. Do you see that continuing, and are there anystocks, big or small, in the banking sector that you`re recommending?

CANNON: We do think it`s a pretty good environment. Interestingly, the evaluations toa lot of my analysts and my group were kind of stretched, so they get nervous at this point intime. We were up 25 percent year-to-date and after a good run last year. But remember, the

Keefe Bank Index is still 40 percent below its peak pre-cycle. A lot of that has to do withdelusion, but a lot of it has to do with low interest rate environment keeping -- keeping earningsdown.

Well, as interest rates start rise, if home prices continue up, it`s a pretty goodenvironment.

We think Citi is still a great investment. We think it`s greatly structuring store andshould do well in this environment. A little nervous about these emerging market issues, but wethink it will do fine.

And on the regional side, there`s a number of regional banks. We actually we shouldlook upstate New York right now, if you look up to Buffalo, there is a couple banks that we`rebig on right now. First Niagara, they had a little bit of tough time, starting to turn around. Andsame with M&T Bank (NYSE:MTB) Corp.

MATHISEN: Let`s talk a little bit about something you just mentioned a moment ago.It`s a good lending environment for banks because they`re able to command more on their loanrates and their cost of securing deposits is relatively low. Another way of saying that is theyraised their loan rates but they haven`t raised deposit rates.


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Do you expect them to raise their deposit rates soon?

CANNON: No, the banks are swimming in liquidity, thanks to Ben Bernanke and theFeds. So, we think that there`s going to be plenty of deposits around for a long period of time.So, if you`re one of those savers out there, don`t expect CDs to go up anytime soon.

MATHISEN: That`s what I`m asking.

Fred Cannon, thanks very much. Director of research at Keefe, Bruvette & Woods.

CANNON: Great to be on. Thanks.

MATHISEN: Thank you.

GHARIB: Big changes appeared to be happening in Cuba. The hard line socialistgovernment invited a select group of business journalist to get an up close look at Cuba`seconomy and reforms being made.

So, what`s new and why now?

Michelle Caruso-Cabrera is one of those journalists on the ground in Havana and she hasour report.

(BEGIN VIDEOTAPE)

MICHELLE CARUSO-CABRERA, NIGHTLY BUSINESS REPORTCORRESPONDENT:


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Although the Cuban government says it is still fully committed to socialism, it invited journalistshere to show them some of the changes that they are making changes to take the government outof the economy.

So, one of the new reforms, individuals are allowed to no longer work for the government andinstead, start their own small businesses in select areas. So, wherever you go, you now see littleshops in doorways and windows.

But just to show you how far they still have to go, the example that the Cubangovernment showed to the journalist was a store front where they sold religious clothing andmanufactured in the back. The employees there are working on 1950 era Singer sewingmachines, a testament perhaps to American manufacturing.

The owner of the shop told journalists she`s clearing $130 a month after all her expenses.That`s a lot of money in a country where the average Cuban makes $19 a month.

Other changes are coming in the transportation sector where they are encouragingworkers to form cooperative, to try to relief the terrible, terrible situation with buses, which arepacked and terrible for riders in the sweltering heat. Many are asking whether what`s happeningin Cuba right now is similar to what happened in China in 1980 when that country began itsseries of massive reforms. The Cuban government says absolutely not, it will still always besocialist and these changes are only to make socialism, in their words, more sustainable.

For NIGHTLY BUSINESS REPORT, I`m Michelle Caruso-Cabrera in Havana, Cuba.

(END VIDEOTAPE)

GHARIB: And if you want to know more about doing business in Cuba, log on to our

Web site, NBR.com.

MATHISEN: Still ahead, tennis, bridge and options trading? Find out why more babyboomers are now do-it-yourself option investors and what they may be risking in the process.


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But, first, let`s take a look how the international markets finished today.

(MUSIC)

GHARIB: Soaring oil prices this week have already trickled down to higher prices at thepump. AAA reports the average price for a gallon of unleaded is now $3.55 nationwide. That`sup 3 cents just since yesterday.

That`s the largest one-day spike since February and experts say the pain at the pump is likely toget even worse this weekend.

MATHISEN: Toyota`s popular Rav4 small sized SUV received an overall score of goodfrom the Insurance Institute for Highway Safety. But in one demanding crash test, the Rav4received the worst possible score. That was in the so-called small over lap test which involvescrashing a vehicle at

40 miles an hour into a 5-foot high barrier on the driver`s side over lapping a quarter of thevehicle`s entire width.

The top-rated small SUVs this year, the Subaru Forester and Mitsubishi Outlander.

GHARIB: We focus now on some stocks with new highs and big moves in our "MarketFocus". Alexion rocketed today on reports that it`s a takeover target. At one point, shares wereup 23 percent, to an all-time high. The companies make so-called orphan drugs. These are usedto treat rare disorders.

At the end of the day, Alexion gained 12.5 percent, closing at $114 and change.

Also in healthcare, Athena Health jumped to a 20 percent high. This provided ofelectronic healthcare software signed a new contract with a large healthcare system. Sharesclosed near that all-time high at $109.75.


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MATHISEN: And WebMD raised its revenue forecast for the year, saying bio pharmasare buying more ads and sponsorships in its health information platforms. WebMD shares newhigh, closed up more than 25 percent at $33.82.

H&R Block (NYSE:HRB) got out of the banking business, selling to avoid the expenseof stricter regulations and investors said yay and they said let`s move those shares higher, whichthey did. New high, triple volume, before closing at $43.63, up more than 2 percent.

And after the bell, AT&T (NYSE:T) announced it is buying Leap Wireless for $15 pershare in cash, a $7 premium over the closing price. Leap operates a prepaid wireless service,which AT&T (NYSE:T) will continue to deal. It`s subject to FCC review.

Shares of AT&T (NYSE:T) were flat after hours as you see there, while Leap shares,well, inevitably, they leaped, doubling, on the news.

GHARIB: Well, our market monitor expects the stock rally to continue for the next 12months. He`s Erik Ristuben, chief investment strategist at Russell Investments.

Welcome, Erik, unto the program.

ERIK RISTUBEN, RUSSELL INVESTMENTS CHIEF MARKET STRATEGIST:Thank you.

GHARIB: You know, we just reported on a whole bunch of new highs, this has been anamazing run for the stock market. What do you think is going to drive stocks higher over thenext 12 months?

RISTUBEN: Well, a couple things, but I ll go back to the source of the strength in themarkets this week, primarily because of Gentle Ben. He

-- but we didn`t see he said anything new in terms of the chairman of the Federal Reserve. Whathe said was the economic news is getting better, the U.S. economy is getting closer to notneeding the full stimulus of QE3 and that they`re going to consider pulling some of that back.


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GHARIB: OK, the next question from our viewer is about Sony (NYSE:SNE). Linda Cowns Sony (NYSE:SNE). She says, quote, "Saw your program for the first time tonight." Wehope, Linda, you keep watching.

She`s new to the market, bought Sony (NYSE:SNE) in December of 2012 at $12 a share. Now,it`s over $21.

She wants to know, should I sell it or hold on? What do you think?

RISTUBEN: Well, that`s another stock that we`re underweight and we`re actuallymeaningful underweight. She may want to consider actually a company like Samsung.

I mean, Sony (NYSE:SNE), it s another story. Their stock price recently has beenspectacular. They have benefited probably in no small part in the consumer electronics industryfrom being in Japan where Samsung`s market in Korea has not done as well and their stockhasn`t done as well.

We think Samsung is a better value than Sony (NYSE:SNE).

MATHISEN: All right. Let`s move to Missouri where Matt H. is interested in acompany called Seadrill. He says, quote, "I enjoy your show each weeknight and find it veryinformative." We`re grateful to you for that. "Can you please look at Seadrill, ticker SDRL, andtell me about what the future looks like for the company and its dividends?"

RISTUBEN: Let`s tell viewers that they are an offshore drilling contractor. So they ownoil rigs and they drill off those oil rigs. Then, now, what you see is businesses has been verygood for them since oil prices have been relatively higher over the last five years.

In response to that, what they`ve done is they`ve actually taken out a lot of debt becauseoil rigs are expensive and significantly increased their capacity, which isn`t necessarily aproblem on its own. The problem is, the industry as a whole has done that.


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So, we think that industry is gong to come under price pressure in the future because somuch new capacity is going to come online. The other problem is debt that they have taken on.It`s going to be hard to refinance lower interest rates. Interest rates are likely to move higher.

GHARIB: OK. Erik, thanks for those good suggestions. We appreciate it. ErikRistuben, chief investment strategist at Russell Investments.

MATHISEN: Well, trading stocks and bonds is not easy. I probably didn`t need to tellyou that. But neither is trading options, which give investors the right but not the obligation tobuy or sell financial products at an agreed upon price at a future date. And since stock priceschange all the time, it is a risky business.

But as Jane Wells shows us, more people are diving into the options world and they`renot all young Wall Street hot shots.

(BEGIN VIDEOTAPE)

UNIDENTIFIED MALE: It (ph) is going to be the change in an option`s theoreticalvalue, probably one unit change in time.

JANE WELLS, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over): Ina library in Huntington Beach, California.

UNIDENTIFIED MALE: But you talk to a butterfly guy or calendar guy, what will theysay?

WELLS: Folks have paid almost $600 to indulge a hobby -- trading options.

UNIDENTIFIED MALE: Volatility only affects time premium.


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WELLS: Dan Sheridan and Peter Lusk used to do this. Now, they run seminars for theworld`s largest options exchange, the CBOE (NASDAQ:CBOE).

Who shows up?

DAN SHERIDAN, SHERIDAN OPTIONS MENTORING: It`s a male between the agesof 50 and 58. You get a few women there, maybe three women.

WELLS (on camera): Why are boomers dabbling in options? Well, it cost less moneythan buying stocks. It`s more exciting. You can get profits more quickly or lose them, and it`s away to manage risk.

(voice-over): Bill Spillane is a former airline pilot.

BILL SPILLANE, RETAIL OPTIONS INVESTOR: I don`t go to Vegas and gamble,but here, you control your own risk. You set the rules.

WELLS: But this stuff is tough to learn and easy to screw up.

PETER LUSK, CBOE (NASDAQ:CBOE) OPTIONS INSTITUTE: I might be good ona trade six out of ten times, and that`s considered to be a good trader.

WELLS (on camera): Oh my gosh, baby boomers are trading options, red alert, sittingducks, get ripped off, lose everything?

LUSK: Right, I`m concerned as an educator start slowly and it takes a good year or twoin many trades under your belt to get proficient at this stuff.

UNIDENTIFIED MALE: Look at that.


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WELLS (voice-over): Take Steve Burnette, a 57-year-old pastor from Columbia, SouthCarolina, who traded stocks for many years and decided to kick it up a notch with options.

STEVE BURNETTE, PASTOR/INVESTOR: Studying dojis and candle stickformations.

WELLS: Burnette settled on a strategy of selling puts which allows investors to sell at anunderlying stock for a fraction of the cost of the actual share price. It can be scary like the timehe meant to buy five Apple (NASDAQ:AAPL) contracts and accidentally bought 105.

BURNETTE: Which represents $4.5 million. Scared the bejesus out of me before I

could sell it and get it off my books. I don`t know how trade let it go through.

WELLS: Trading an Apple (NASDAQ:AAPL) options may have been scariest moment,but they`ve also made him the most money.

BURNETTE: Nobody gets into it because it`s boring.

WELLS: Young men may play video games for excitement. It turns out their dads arealso online in a game with greater risks and rewards.

For NIGHTLY BUSINESS REPORT, Jane Wells, Los Angeles.

(END VIDEOTAPE)

GHARIB: And coming up on the program, the one-year anniversary of Yahoo`s newCEO Marissa Mayer. This past year has been anything but dull, and we`re going to look how thecompany has changed and the challenges ahead.


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But, first, let`s take a look at how commodities, treasuries and currencies performedtoday.

(MUSIC)

GHARIB: Marissa Mayer has been experimenting with invasions at Yahoo

(NASDAQ:YHOO) and they stirred up a lot of controversy. She`s been one of the most watchedCEOs. And now, as her one-year anniversary approaches, we`ll be hearing many reviews on herperformance.

So, how is she doing?

Jon Fortt takes a look.

(BEGIN VIDEOTAPE)

JON FORTT, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over): Ithad all the makings of a no-win situation. A Silicon Valley superstar was swooping in, trying tosave the bad news bearers of tech. But somehow, it looks like Marissa Mayer is pulling it off. Ayear into her stint as Yahoo

(NASDAQ:YHOO) CEO, the stock is up 72 percent.

(on camera): It`s not because of some dramatic business turnaround.

The genius of Mayer`s first year is that she`s taken a mediocre hand and played it almost

flawlessly, communicating a vision, setting expectations low and generating the right headlinesat the right times.

The year had challenges. Right off the bat she announced she was pregnant and wouldtake minimal maternity leave while running the company.


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The pundits simultaneously praised her and vilified her.

And then, there was the work from home brouhaha. In February, Yahoo

(NASDAQ:YHOO) decreed that the relatively small number of workers, with at homearrangements, about 200 out of 12,000, would have to report to the office. The reason:collaboration -- coming up with new ideas will be key to the Yahoo`s future.

Critics, including Sir Richard Branson, pounced. How can an Internet company squashtelecommuting?

Beneath the surface, though, Mayer s internal changes seem to be working. Free food,Friday afternoon staff meetings, and optimism around some key hires have helped boost morale.Glass door which collects employer reviews, pegs Mayer`s approval rating at 85 percent, lowerthan Tim Cook and Larry Page, but higher than Larry Ellison and John Chambers.

DAVID GARRITY, GVA RESEARCH PRINCIPAL: The moral levels at Yahoo

(NASDAQ:YHOO) have improved significantly to the extent that she does seem to be a very,very well-founded and well-positioned leader with a strong strategic view for the company.

FORTT: To keep a good thing going, though, Mayer will probably have to get Yahoo(NASDAQ:YHOO) growing. Sales are flat since Mayer took over, and brand advertising,Yahoo`s core business, is actually down.

Wall Street is hoping for a little growth news when Yahoo

(NASDAQ:YHOO) reports earnings Tuesday. If Mayer can pull that off, year two will be off toa good start.

For NIGHTLY BUSINESS REPORT, I`m Jon Fortt.

(END VIDEOTAPE)


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MATHISEN: Finally tonight, you`ve been waiting and they are back.

Twinkies started arriving on select Walmart shelves today, months after Hostess, a long timebanker, went bankrupt and stopped making them. But new private equity owners bought therights to the spongy, yellow delectable and other treats and they`re already flying off storeshelves. Shoppers at a New Jersey Walmart were happy to see the return of the Twinkies.

(BEGIN VIDEO CLIPS)

UNIDENTIFIED FEMALE: Look, Twinkies are back.

UNIDENTIFIED FEMALE: As soon as they came on the Walmart flier, here we are.

UNIDENTIFIED FEMALE: They`re like the best dessert one you can ever have.

UNIDENTIFIED MALE: How long they been going, for a couple years?

UNIDENTIFIED MALE: Now that I`m a grown man I can`t have too many sweets?

UNIDENTIFIED MALE: I don`t eat them.

UNIDENTIFIED FEMALE: Why not?

UNIDENTIFIED MALE: That`s how I stay looking like this.

UNIDENTIFIED MALE: The doctor told me to stay away from that.


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UNIDENTIFIED MALE: Right here, America, I got one.

(END VIDEO CLIPS)

MATHISEN: Twinkies can be found at retailers nationwide on Monday, with one bigdifference. The new Twinkies now have a shelf life of 45 days, nearly three weeks longer thanthey used to have.

I`m not sure, Susie, that I should be comforted by that necessarily.

GHARIB: You know, this whole come back is amazing. Starting on Monday, fromTime Square, they`re going to have a bus tour that`s going to go across the country, giving away--

MATHISEN: A Twinkies bus tour.

GHARIB: Giving away free Twinkies and the mascot Twinkies will be there. So, I don`tknow what the mascot looks like.

MATHISEN: How do we get on that route to that bus route? Bring them by Englewood(ph) for it.

GHARIB: That`s NIGHTLY BUSINESS REPORT for tonight. I`m Susie Gharib. Have

a great weekend, everyone.

MATHISEN: And I`m Tyler Mathisen. I`m going to go have a few Twinkies. Have agreat weekend. We`ll see you Monday.


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END

Nightly Business Report transcripts and video are available on-line post broadcast athttp://nbr.com. The program is transcribed by CQRC Transcriptions, LLC. Updates may beposted at a later date. The views of our guests and commentators are their own and do notnecessarily represent the views of Nightly Business Report, or CNBC, Inc. Informationpresented on Nightly Business Report is not and should not be considered as investment advice.(c) 2013 CNBC, Inc.

nightly business report - friday july 12 2013

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