Post on 03-Apr-2018
transcript
7/29/2019 Nightly Business Report - Tuesday March 26 2013
1/27
ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen and
Susie Gharib.
SUSIE GHARIB, NIGHTLY BUSINESS REPORT ANCHOR: Housing goes boom.
The
prices rise by the most in nearly seven years. And stocks take the good
news and run with it. We talk with economist Robert Shiller about what`s
next.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
2/27
TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: Two techs go bust.
Well, not exactly, but Dell (NASDAQ:DELL) and BlackBerry, former tech
titans, are in a fight for their lives. Can they come back?
GHARIB: And courtroom drama. The Supreme Court hears the first of
two cases on same-sex marriage. What are the stakes for business?
We`ll have all that, plus the simplest trading strategy you`ve ever
heard of tonight on NIGHTLY BUSINESS REPORT.
Good evening, everyone.
And, Tyler, you know, we had a lot of positives today about the stock
market and also about the economy.
MATHISEN: And those economic numbers really did drive stock prices
higher today. The Dow has done it again, climbing to a record close,
rebounding from Monday`s losses.
Investors shook off concerns about the debt and banking crisis over in
Europe and focused instead on higher home prices in January, in the U.S.,
which rose at the fastest pace in almost seven years and on a sizeable jump
in factory orders for big-ticket durable goods in February.
When all was said and done, the Dow was higher by 112 points, closing
7/29/2019 Nightly Business Report - Tuesday March 26 2013
3/27
at a fresh all-time high of 14,559. The NASDAQ was up 17, and the broader
S&P 500 added 12 points, now just a point and a half away from its own
record high close.
GHARIB: Well, as Tyler just said home prices went through the roof in
January, up more than 8 percent year over year and this is in the nation`s
largest cities. It`s the biggest jump in prices since the summer of 2006.
And that`s according to the latest S&P Case-Shiller home price index.
Now, some of the cities that took the hardest hits during the housing
collapse saw some of the biggest gains, including Phoenix, Las Vegas and
San Francisco, all with double-digit price gains.
And joining us now, the co-founder of the Case-Shiller Index, Robert
Shiller. He`s also economics professor at Yale University.
You know, Robert, a lot of people are looking at these statistics if
you`re a home buyer or home seller. You`ll come away with conclusions and
if you`re a home buyer, you`re saying maybe this is the time to buy that
house I`ve been wanting to get because prices are going go up, and if
you`re a home seller, maybe rethink holding off before selling because you
might get a better price.
So how should people strategize through this?
7/29/2019 Nightly Business Report - Tuesday March 26 2013
4/27
ROBERT SHILLER, YALE UNIVERSITY PROF. OF ECONOMICS: Well, it`s very
important to keep a distinction between the housing market and the stock
market. Momentum is much, much stronger in the housing market. So the
fact that we just set a record on the Dow means very little about the
outlook for the stock market. But the increases we see in the housing
market mean a lot. It`s not as efficient a market.
So this might be a time to accelerate a purchase of a home to get the
increases that are likely over the next year.
MATHISEN: Are you at all worried that there might be a repeat of the
so-called bubble of the mid last decade?
SHILLER: Well, I don`t think it s going to be as momentous as that
one. That was the biggest bubble in the history of the United States. So
we don`t expect that to happen again.
And in fact, in history when we`ve seen big booms regionally in the
United States, they`ve often not repeated for another half century. So I
don`t expect that, but it does seem possible that it would be substantial
and it depends on a lot of things, including political factors.
GHARIB: You know, Robert, we`ve been hearing anecdotally stories that
a lot of people investing in real estate is a good way to make some fast
money -- buying properties and then flipping them. Does that strategy make
7/29/2019 Nightly Business Report - Tuesday March 26 2013
5/27
sense to you?
SHILLER: For people who know what they`re doing, I think it naturally
does. One thing that`s changing is, I don`t know about flipping. I think
buying and holding it as a rental or selling it to someone who wants to be
a landlord, we need to see some of our properties converted to rentals
because that seems to be a shift for now, at least, in public demand.
So I think it`s a natural, economic thing to be doing right now.
MATHISEN: As you take apart the housing market or you analyze it,
what`s making prices go up so much?
SHILLER: You know, usually, we don`t know the answer to that, even
after the fact.
But I`ll give you the most -- first thing that comes to mind: the Fed,
OK? Very low interest rates. In fact, in December, we set an all-time
record low mortgage rate. It was 3.35 percent and it`s not up much from
that today.
That matter -- you know, that is -- for buying a house, it`s that low
mortgage rate that might be the more important factor than the outlook for
home. That`s big, to be able to borrow so cheaply and lock it in for 30
years.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
6/27
GHARIB: That is pretty incredible.
Can you talk us through a little bit in some of the numbers, as you
look at the metro areas of the cities on your list? I mean -- they`ll pull
up a graphic here. Phoenix was up year over year, 23 percent; San
Francisco, 17.5 percent.
And then, you look at the bottom of the list -- New York City up just
half a percent.
SHILLER: Yes.
GHARIB: What kind of conclusion should we draw from looking at these
numbers and what`s the story behind the numbers?
SHILLER: Short run, go for Phoenix.
(LAUGHTER)
SHILLER: Long run -- long run, go for New York.
By the way, the financial sector is very low priced now, too. New
York is the world`s financial sector and it looks beaten down right now,
but my feeling is that has a good, strong future.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
7/27
MATHISEN: Let me -- let me get you, as a student of value, to comment
if you would on the values of the stock market today. Do you think the
market is priced too high for the economic underpinnings?
SHILLER: It is priced highly. I have my own CAPE -- or cyclically
adjusted price-earnings ratio, which uses a longer (ph) average of
earnings. And that ratio now is about 23, which is high. But then you got
to remember that interest rates are very low.
So, it`s not unnatural for them to be high. So what I`m thinking --
based on just the CAPE ratio, the real return on the stock market for the
next 10 years might be something like 3 percent a year, which isn`t bad in
the current environment. That`s way better than your 10-year treasury.
GHARIB: All right. We`ll leave that for another conversation. But
thank you so much.
Robert Shiller, co-founder of the Case-Shiller index, also economics
professor at Yale University.
MATHISEN: Well, today`s Case-Shiller house price report confirms why
Americans are once again bullish on real estate. According to the latest
CNBC all-America survey, 33 percent believe their home prices will rise
during the next year.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
8/27
7/29/2019 Nightly Business Report - Tuesday March 26 2013
9/27
runs high, gold has run even higher. One recent example, the summer of
2011, when Washington gridlock prompted the S&P to downgrade the debt
rating of the United States, gold hit an intraday high of $1,923 an ounce.
Gold has also managed to rally alongside the markets. For example,
when the Fed announced several rounds of monetary stimulus, bouillon moved
higher as an inflation hedge. In the past few months, though, gold hasn`t
managed to move much. The range-bound metal wasn t where investors flocked
when they were worried about the fiscal cliff and it certainly hasn`t been
where they turned as the markets have climbed higher.
Traders say gold`s behavior is odd, but explainable. For one thing,
it`s been held back by the dollar`s strain.
PAUL SACKS, AURUM OPTIONS PRINCIPAL GOLD TRADER: Well, gold, like
many other things, has been denominated in U.S. dollars, right? So when
the strength -- when there is strength in the U.S. dollar, that implies
there`s weakness in a foreign currency. So there is less gold that can be
purchased per euro, per yen, per Swiss.
DEANGELIS: In addition, there has been evidence that funds are
selling gold as they rotate into equities.
SACKS: There have been outflows in terms of the GOB for the funds to
participate and initiate some gold exposure. So, the open interest has
7/29/2019 Nightly Business Report - Tuesday March 26 2013
10/27
come off substantially in the GOB.
DEANGELIS: And even when gold does seem to catch a bid, it tends to
be short covering, not necessarily new buying.
(on camera): But still, experts say that all signs indicate that gold
is headed higher. Here at home, fears of the impact of sequestration and
new debt ceiling deadlines are a cause for concern. Abroad, the eurozone
debt crisis is far from over as highlighted from recent events in Cyprus.
SACKS: When we have the crisis out of Cyprus, so there is a demand.
This is the definition of headline risk. So we have this demand for safe
haven.
DEANGELIS (voice-over): For NIGHTLY BUSINESS REPORT, I`m Jackie
DeAngelis.
(END VIDEOTAPE)
MATHISEN: Two blue chips in the Dow hitting all-time highs today and
that is where we begin our "Market Focus" tonight.
American Express (NYSE:EXPR) (NYSE:AXP) and Johnson & Johnson
(NYSE:JNJ) both hit as the market gained. AmEx on the $150 million a share
buyback plan announced yesterday. And J & J after UBS raised its price
7/29/2019 Nightly Business Report - Tuesday March 26 2013
11/27
target on the stock to $87 a share from $81.
Johnson & Johnson (NYSE:JNJ) also part of the NYSE pharma index and
that index hit its highest level in almost 12 years today.
Here are some other top performers in that group: Bristol-Myers Squibb
(NYSE:BMY) leading the way. up almost 25 percent year to date, followed by
Eli Lilly (NYSE:LLY), Pfizer (NYSE:PFE), Amgen (NASDAQ:AMGN) and Merck
(NYSE:MRK).
GHARIB: Warren Buffett`s Berkshire Hathaway (NYSE:BRK.A) is set to
become one of the 10 largest shareholders in Goldman Sachs (NYSE:GS). The
move comes as Goldman gives Berkshire millions of shares in place of
warrants dating back to the depths of the financial crisis. That`s when
Buffett came to the rescue of the Wall Street firm by investing $5 billion.
Goldman stock was almost flat on the day, closing at $146. At that
price, Berkshire would receive more 9.5 million shares.
And Netflix (NASDAQ:NFLX) was the biggest gainer in the S&P 500 today,
after an analyst boosted the company`s price target to $225. He says the
company`s streaming video business has the potential of drawing in more
subscribers. Netflix (NASDAQ:NFLX) shares have doubled this year and they
rose almost $10 today, to $190. That`s a gain of 5.5 percent.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
12/27
MATHISEN: A historic hearing of the U.S. Supreme Court today on
whether same-sex couples have the right to marry. And any potential ruling
would have enormous implications for businesses.
John Harwood joins us now from outside the Supreme Court in
Washington.
John, what did -- what did the justices hear today?
JOHN HARWOOD, NIGHTLY BUSINESS CORRESPONDENT: It`s a two-day set of
arguments on same-sex marriage, Tyler. Tonight, the arguments were about
California`s Proposition 8, the ballot measure a few years ago that ban gay
marriage after earlier that right had been conferred in California.
Justices are going to have to decide whether the stake can take a right
after having granted it.
The arguments tomorrow are going to be about the Defense of Marriage
Act which was signed by Bill Clinton in 1996. Even Bill Clinton has said
that it`s unconstitutional, but we`ll see whether the justices agree.
There was some caution expressed in their questioning to the lawyers today.
GHARIB: While we`re waiting, John, to hear on from the Supreme Court
on this historic case, and many businesses are already providing benefits
from gay couples. They`re already gotten kind of ahead of the law and the
culture. Why the disconnect?
7/29/2019 Nightly Business Report - Tuesday March 26 2013
13/27
HARWOOD: Well, business executives worked on a different metric than
politician-seeking votes. Business executives have approached this issue
as a bottom line issue of making their employees happy. So, if you look at
numbers like these compiled by the Human Rights Campaign, you`ve got 99
percent of businesses that already have anti-discrimination policies on the
basis of sexual orientation, 89 percent say they provide domestic partner
benefits to same-sex couples. You also got 13 out of the 20 biggest
companies on the Fortune 500 list that got a perfect score on those sorts
of issues.
So the business community is ahead. The politicians are catching up,
and we`ll see what the Supreme Court justices decide a couple of months.
MATHISEN: John Harwood, we have to leave it there. Thank you very
much.
John Harwood reporting.
GHARIB: And coming up on the program, Dell (NASDAQ:DELL) and
BlackBerry, two iconic American brands, at a crossroads. We`ll look at
what happens when technology kings get beaten at their own game.
But, first, here`s a look at how international markets closed out the
day.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
14/27
(MUSIC)
MATHISEN: Apple (NASDAQ:AAPL) shares in a serious swoon since
September were off slightly today, this despite positive comments from an
influential tech analyst and a fund manager. The analyst Gene Munster of
Piper Jaffray reiterated his $767 price target on the stock, more than $300
above today`s close. He said the next two quarters for the company would
come in below consensus estimates as iPhone sales slow. But then he thinks
new product launches will power demand and the stock.
Fund manager Channing Smith of Capital Advisers Growth basically makes
the same argument. His forecast, $600 a share by New Year`s.
GHARIB: Well, before shares of Apple (NASDAQ:AAPL) climb any higher,
the company has to battle concerns about declining sales of its signature
products: iPhones and iPads. At China`s Foxconn, this is a major supplier
to Apple (NASDAQ:AAPL) and where many of those Apple (NASDAQ:AAPL) gadgets
are made, those fears may be real, as workers describe a slowdown in
production.
Eunice Yoon has more.
(BEGIN VIDEOTAPE)
7/29/2019 Nightly Business Report - Tuesday March 26 2013
15/27
EUNICE YOON, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over):What
happens at Foxconn is see as a barometer for the tech industry. We heard
orders at the Shenzhen factor had slowed. So, we headed to the notoriously
secretive manufacturer to find what`s happening behind the heavily guarded
gates.
Outside the factory, we spoke to a half dozen Foxconn workers, only
one would talk to us on camera. But they all said the same thing. There
are no orders, he says. Generally, there`s nothing to do.
Like migrants at Foxconn, the worker moved from the countryside to
make big bucks in the big city. He like the others we spoke to say Foxconn
pays the best. Big clients like Apple (NASDAQ:AAPL) and Dell (NASDAQ:DELL)
mean steady orders. To the workers that means a chance to work longer
hours and get better pay, but not since February.
The worker who inspects iPad normally rakes in $480 a month. Now, he
says he`ll be lucky to earn two-thirds that. Sometimes, he says, they
don`t do much at all.
"There`s no overtime," he says. "A lot of people have left."
(on camera): Foxconn employs over 1.5 million people in China. But
these days, the company isn`t hiring as much as before.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
16/27
(voice-over): In a statement, Foxconn says 97 percent of employees
returned after the lunar holiday and adds, this period has always been
considered low season for the industry.
But all of the workers who have been at the factory for over three
years said the slowdown is more pronounced this year. What the workers
tell us could be a sign of weaker sales -- something we`ll know for certain
this earnings season.
But this worker may not stick around until then.
"Killing time is pointless," he says. "I might as well check out
other jobs."
For NIGHTLY BUSINESS REPORT, Eunice Yoon, Shenzhen.
(END VIDEOTAPE)
MATHISEN: Also, if you think Apple (NASDAQ:AAPL) is facing
challenges, get a load at this: it`s nothing to what`s been happening at
Dell (NASDAQ:DELL) and BlackBerry. Not long ago, both firms were product
and stock market kings and must-haves in many portfolios. Today, Dell
(NASDAQ:DELL) is in the middle of a buyout battle and BlackBerry is
battling for its survival as an independent company.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
17/27
7/29/2019 Nightly Business Report - Tuesday March 26 2013
18/27
cheap why should I sell it to him?
And Leon Black -- I`m sorry, Leon Cooperman, who was quoted in the
piece, said this is the equivalent of insider trading and he knows
something that other shareholders don`t, and to some extent, you could
argue that now that we have a separate offer from Blackstone, which has
come with a bid of $14.25, against, by the way, Michael Dell`s bid with
Silver Lake of $13.65 and an additional bid by Mr. Icahn of $15, you could
say that perhaps the original bid was too low.
GHARIB: You know, Jon, Dell (NASDAQ:DELL) was once considered one of
these tech darlings that could do no wrong, and it seems like the issue
here -- whether it`s a private company or a public company -- its business
model is out of date. How do they survive and how do they make that
changeover?
JON FORTT, NIGHTLY BUSINESS REPORT CORRESPONDENT: Well, they got so
big and so popular making PCs more efficiently than anybody could at the
time. And what happened is everybody else got better at making PCs and
now, PCs are just less popular than they used to be as people use
smartphones and tablets.
So, really, what they need to do is one of two things: either figure
out how to be a great mobile player. They tried a couple of times and
haven`t figured that out. Or push into the cloud and enterprise services.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
19/27
They`re doing a bit better at that, but meanwhile, this big PC weight is
just dragging them --
MATHISEN: They missed the move in the mobile big time. That was
really one of the big issues here, right?
FORTT: That`s part of it, but they tried some mobile products, but
the problem was, they were depending on software from Microsoft
(NASDAQ:MSFT) or from Google (NASDAQ:GOOG). They were depending on other
companies to figure out how to put the objects, the products together.
They couldn`t compete as much with Apple (NASDAQ:AAPL), which designs the
whole widget (ph).
MATHISEN: So, Andrew, speaking of a company that sort of missed a big
move, BlackBerry, another company that we`re talking about in this segment
tonight, it missed the move to sort of touchscreens and multi-function
devices. Can this company come back?
SORKIN: It`s going to be a struggle. I hate to say it because I`m a
BlackBerry user and I have loved my keyboard from the absolute very
beginning like so many people out there, but I also carry around an iPhone
these day, and I think that`s become indicative of what you`re seeing, by
the way, on Wall Street, you`re seeing it in the government, you`re seeing
it even the Defense Department and others who have taken up other devices.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
20/27
It`s very difficult once you start looking at the ecosystem that is
the Apple (NASDAQ:AAPL) OS, the operating system, and all of the apps that
are around that to think that BlackBerry will ever be able to be what it
used to be.
Having said that, if BlackBerry can just eke out small, little gains,
they can make big wins for the company and for the stock. And so, I
wouldn`t count them out just yet.
GHARIB: Let me ask both of you this, Andrew and Jon.
But let me start with you, Jon, is that -- when you look at these
companies and others of this ilk, is it a technology problem that got them
here or is it a management problem, or is it both?
FORTT: It really is both. I mean, in both cases, management was
maybe a little too proud of what they had already accomplished, didn`t look
around the corner and see what was coming. On the technology side, both
had a similar problem. BlackBerry didn`t really design a great operating
system, an OS that could do web surfing, that can handle apps. Apple
(NASDAQ:AAPL) had that already.
And when they saw Apple (NASDAQ:AAPL) doing it, they figured they were
fine ruling email and messaging just like they had done before. They need
to now figure out what the next big thing is going to be. Don`t just match
7/29/2019 Nightly Business Report - Tuesday March 26 2013
21/27
iOS and Android, but get to where the pack (ph) is going to be.
MATHISEN: The early word on the BlackBerry 10 is not all that
favorable in the U.S.
FORTT: Well, the word is a lot better than the early sales. So, it
got some decent reviews. People said, yes, this does some things that
other phones do and some things that they can`t do. But it hasn`t
translated into sales because they haven`t communicated to people why buy
this instead of the stuff like your friends have.
GHARIB: Andrew, what is your thoughts of all this? What`s the lesson
here? It sounds look a Harvard Business School case study.
SORKIN: And the lesson is that both of these companies need to be in
turn around and it`s a real gamble either way which way they go. You know,
some people look at this Dell (NASDAQ:DELL) transaction and the
shareholders say they`re not getting enough money, pay me more. But, you
know, there`s just -- it`s just as possible that in five years from now,
Michael Dell (NASDAQ:DELL) makes a fortune as he loses a fortune, and
that`s the thing I think we all have to remember.
MATHISEN: Andrew Ross Sorkin, thanks very much.
Jon Fortt, great to be with you.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
22/27
FORTT: Thank you.
MATHISEN: And still ahead, why it`s more important to teach children
about the value of a buck.
But, first, a look at how commodities, treasuries and currencies fared
today.
(MUSIC)
GHARIB: Teaching children about money is an issue every parent
struggles with. Now, schools are also focusing on this. And some students
in the country are already required to study personal finance.
As we continue our series, "Hitting the Book," Sharon Epperson reports
that the push to spread that knowledge and make it mandatory is growing.
(BEGIN VIDEOTAPE)
UNIDENTIFIED FEMALE: One big thing we went over, how to form a
budget.
SHARON EPPERSON, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over):
Financial lessons become life lessons for students at Reading High School,
7/29/2019 Nightly Business Report - Tuesday March 26 2013
23/27
in Ohio.
UNIDENTIFIED FEMALE: I actually worked with my mom and we formed a
budget that we still use and it`s helped us tremendously.
EPPERSON: Since U.S. economic crisis, many schools and teachers have
been searching for strategies to help students deal with the real-world
economy.
BRIAN PAGE, READING HIGH SCHOOL, TEACHER: As our financial industry
continues to get more complicated the lessons are becoming more and more
painful. So, it`s time that our legislators recognize that we need to
evolve, our education system needs to evolve and we need to prepare our
children to be able to manage their money in a much more complicated
financial society.
EPPERSON: Brian Page`s class is an example of what many would like to
see become law, a requirement that all high schools in the state offer a
personal finance course.
STATE SEN. WILLIAM COLEY (R), OHIO: It`s our hope that people learn
that at an early age and then carry that through throughout their lives.
EPPERSON (on camera): Ohio is one of 46 states that includes personal
finance education in standard curriculum for kindergarten through 12th
7/29/2019 Nightly Business Report - Tuesday March 26 2013
24/27
grades. But there`s no mandate to teach it yet. According to the Council
for Economic Education, only 13 states require high school students to take
a personal finance course to graduate.
(voice-over): There`s a national push to grow those numbers and
expand requirements starting in elementary school.
DR. JULIE HEATH, UNIVERSITY OF CINCINNATI DIR. OF ECONOMICSCENTER:
It`s great that that more and more states are adopting a mandatory
financial education course, but waiting until high school is too late. It
needs to start in kindergarten and there needs to be a foundation laid
every single year.
EPPERSON: In the next few months, the Treasury Department is expected
to launch a Web site offering teachers ready-made personal finance lessons
that can be incorporated instead standards for math and English in schools
across the nation.
HEATH: We need to know that a student in Michigan in the fourth grade
is learning what a student in New York in the fourth grade is learning. It
is so far beyond how to write a check. It`s tremendously empowering to
teach children -- you have control over your own life.
PAGE: This course is more than just about how to become rich. It`s
about leading a rich life.
7/29/2019 Nightly Business Report - Tuesday March 26 2013
25/27
When they come back and they tell me that they have opened a savings
account, or they tell me that they have a high credit score, or they tell
me they have a direct deposit into the 401(k), which they`re fully
matching. That`s how I measure my impact on them.
EPPERSON: That`s the real world test of lessons that can help them
throughout their financial lives.
For NIGHTLY BUSINESS REPORT, I`m Sharon Epperson.
(END VIDEOTAPE)
MATHISEN: We asked on NBR.com what you thought about teaching
financial literacy to younger students.
Kersi Billimoria said, "Very important, especially since it appears
that parents have abrogated their responsibility in this area."
And Steve Silva said, "Extremely important, and I applaud this long,
overdue move."
And, finally tonight, do you want to make money in the stock market?
Well, the answer may be as easy as invest on a sunny day. According to a
new book by Adam Alter, an assistant professor at NYU`s Stern Business
7/29/2019 Nightly Business Report - Tuesday March 26 2013
26/27
School, researchers studying trading patterns across 26 world markets found
that between 1982 and 1987, stocks rose more on sunny days than on cloudy,
snow, or rainy ones.
Or you just go with simple-sounding names. Alter and a colleague at
NYU found after studying hundreds of U.S. stocks that those with easy to
pronounce names outperformed the tongue twisters. And as Warren Buffett
says, simpler is better.
It was a sunny day here, Susie, and stocks moved higher. It was
cloudy and stocks went down.
GHARIB: Do we have to start doing a weather report? Tomorrow is
supposed to be partly sunny. So, we`ll see what that does to the market.
MATHISEN: Mixed day for the market.
GHARIB: That`s NIGHTLY BUSINESS REPORT for tonight. I`m Susie
Gharib. Thanks for watching.
MATHISEN: And I m Tyler Mathisen. Have a great evening. We`ll see
you back here tomorrow night.
END
7/29/2019 Nightly Business Report - Tuesday March 26 2013
27/27
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) 2013 CNBC, Inc.