Nightly Business Report - Thursday April 11 2013

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TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: A secret meeting in a

parking lot, an envelope that reportedly contained thousands in cash. We

have the details of two friends at the center of an alleged insider trading

scandal.

GHARIB: And the future of your money. Is there really a need for

your corner bank branch?

MATHISEN: And all that and more coming up on NIGHTLY BUSINESS REPORT

for Thursday, April 11th.

GHARIB: Good evening, everyone.

Tyler, don`t know if you are keeping score, but stocks really on a

roll.

MATHISEN: Here we go again. We`re just keep reading the same story.

Stop me if you`ve heard this before, folks. But more records broken on

Wall Street today as stocks did edge higher, pushing the Dow and S&P 500 to

fresh all-time closing highs yet again. That comes after first time

jobless claims that tumbled by 42,000 last week. Investors also noted that

a few retailers, notably Costco (NASDAQ:COST) and L Brands, former Limited,

scored nice sales gains in March, in an otherwise lackluster month.


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Today, the blue chips for Dow index rose 63 points, to close at

14,865. The NASDAQ was up three. Ending at another 12-year high for that

one. And S&P added five to finish at 15,193.

One-third of the Dow 30 reached all time highs during the session,

including Disney (NYSE:DIS), Home Depot (NYSE:HD), 3M (NYSE:MMM) and

Proctor & Gamble.

GHARIB: But not every company saw gains today. The biggest decliners

in the Dow were all big tech names. Hewlett-Packard (NYSE:HPQ) shares fell

6 1/2 percent. Chip maker Intel (NASDAQ:INTC) off nearly 2 percent and

Microsoft (NASDAQ:MSFT) tumbled about 5 percent.

And here is why: new data showing a sharp decline in personal computer

sales in the first three months of the year and that, along with two

analyst downgrades on Microsoft (NASDAQ:MSFT) is hitting the software giant

especially hard.

Jon Fortt has more on Microsoft (NASDAQ:MSFT) and what`s next for the

one-time darling of Wall Street.

(BEGIN VIDEOTAPE)

JON FORTT, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over): For

the P.C. business, the outlook just went from bad to really, really bad.


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(on camera): No one expected a strong start to computer sales.

Things always slow down for HP, Dell (NASDAQ:DELL) and Apple (NASDAQ:AAPL)

after the holiday season. But these days they have to contend with

smartphones and tablets stealing away customer attention and dollars.

(voice-over): So, analysts were expecting P.C. units to be down, less

than 8 percent from the first quarter of last year.

Yesterday, research firm IDC dropped this bombshell: P.C. shipments

were down about 14 percent.

RICK SHERLUND, NOMURA HOLDINGS, INC.: It`s been kind of a fail in

cuts. Every month, P.C. demand falling a little worse and ultimately, you

say, wow, you know, this upgrade cycle is still coming. The story is

similar.

FORTT: And stocks of companies that rely on P.C.s are feeling the

pain, as consumers seem to be spending more on affordable touch devices and

they`re unimpressed by efforts like Microsoft (NASDAQ:MSFT) surface tablet

and Windows 8, which tried to blend the touch interface with some of the

traditional P.C. software.

SHERLUND: I think Windows 8 is not enough on its own, because it`s

got tablet capabilities and it`s got notebook capabilities, and the tablet


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capabilities kind of get in the way if you want it for a notebook. And I

think if you want a tablet, you buy an iPad.

FORTT: Sherlund is one of the analysts who s downgraded Microsoft

(NASDAQ:MSFT) today.

Microsoft (NASDAQ:MSFT) is pushing into the tablet market amid reports

that it is working on a smaller, more affordable tablet to compete head on

with the iPad mini.

What`s next? Intel (NASDAQ:INTC) is working hard to lower the price

of touch P.C.s which it hopes will lure customers.

(on camera): These latest numbers suggest that shaving 100 bucks or

so off the price might not be enough to stem the tide, especially not with

tablets and smartphones coming out this year from Apple (NASDAQ:AAPL),

Samsung and others.

For NIGHTLY BUSINESS REPORT, I`m Jon Fortt.

(END VIDEOTAPE)

MATHISEN: And joining us now to talk more about the future of

Microsoft (NASDAQ:MSFT) and the P.C. industry in general, Lance

(NASDAQ:LNCE) Ulanoff, editor-in-chief of Mashable, a tech Web site.


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Mr. Ulanoff, welcome. Good to see you.

LANCE ULANOFF, MASHABLE EDITOR-IN-CHIEF: Thanks for having me.

MATHISEN: You know, it`s hard to figure where to begin with, with

Microsoft (NASDAQ:MSFT). And it feels like a company that really needs a

hit and can`t find one. They say Windows 7 is going to be it. Windows 8

is going to be it. The surface tablets is going to be it. But it never

seems to happen.

ULANOFF: Well, yes, let`s start by saying that everybody is kind of

blaming Windows 8 for this, and, obviously, there are so many other factors

at play. There are the changing habits, habits of the consumer, who are

holding on to the hardware they have -- the desk tops and laptops, and are

instead buying tablets.

But, you know, there are also -- there are also other factors like HP

and Dell (NASDAQ:DELL) going through all sorts of issues, company issues

and not really targeting the consumer the way they did previously. It`s --

you know, it is a changing world, but it`s not all on the back of Windows

8.

GHARIB: Well, you mentioned dell and Hewlett-Packard (NYSE:HPQ) and

they are going through a crisis and through a turn around. If they don`t


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succeed, what impact it`s going to have on Microsoft (NASDAQ:MSFT), no

matter how well it does on all of its other businesses?

ULANOFF: Well, let`s just say it s a big market. There are a lot of

other companies out there. There`s Samsung, there`s Asus, and there`s

Acer. And there will always be a need for computers, at least for the

foreseeable. And the other thing to keep in mind, there`s all the

businesses that buy these things.

You know, when a new operating system comes out like Windows 8, no one

jumps to buy it. I mean, they just don`t, because there are so many

reasons. Consumers are not upgrading as fast. They don`t need to. They

get enough power at the computer. They spend more time with their tablets

and, you know, not jumping to buy it, until they do eventually buy and

they`ll get the upgrade.

Businesses, forget about it. They`re not doing it because it`s

expensive to upgrade like that, and again what they have right now with

Windows 7 is working just fine for them.

Let`s look 12 months from now and see if the story with Windows 8 is

any different.

MATHISEN: So, let`s -- back to Microsoft (NASDAQ:MSFT). We shouldn`t

have to apologize for Microsoft (NASDAQ:MSFT). They make a tremendous


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amount of money. But they`re no longer really a growth company. They feel

more to me like a utility company. And even in the area that has been

their mainstay which is software, they don`t seem to have the cool factor.

That cool factor now belongs to Google (NASDAQ:GOOG), to Android, it even

belongs to Facebook (NASDAQ:FB).

Why have they not been able to innovate as effectively as some of

these other companies?

ULANOFF: You know, oftentimes Microsoft (NASDAQ:MSFT) doesn`t get

credit for innovating. They do Office 365, you know, Cloud-based office

version. They got Sky Drive. You can edit documents in the Cloud. Need

anything running on the desktop.

They`re doing many of the same things these other guys are doing, but

they`re seen as sort of the old, out-of-step company.

MATHISEN: But they often do it second, Lance (NASDAQ:LNCE).

ULANOFF: Well, that`s -- and that`s very true and I think that has

been one of the problems for Microsoft (NASDAQ:MSFT), is that they are not

putting themselves in a leadership position and it`s very few areas.

You know, Microsoft (NASDAQ:MSFT) is throwing a ton at the wall right

now. They`re trying with tablets. They`re trying with phones. They`re


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trying with cloud-based stuff.

And like you said, they`re making a lot of money, but they`re not

grabbing huge chunks of the market like they need to.

The one area where Microsoft (NASDAQ:MSFT) seems to innovate first and

lead is in Xbox and that may be the secret to their future success.

GHARIB: Let`s talk about the future, fast forward to three years from

now. Everything changes so quickly in technology. Who is going to be the

hot software/hardware star of the technology universe?

ULANOFF: You know, it seems like Google (NASDAQ:GOOG), because of the

way they do it, is they just -- they are kind of like a giant lab. They`re

always building new stuff, always trying new things. This is kind of good

and bad. It`s good because you get exciting new tools to try out. Bad

because sometimes, Google (NASDAQ:GOOG) thinks they are all experiments and

they could shut them down at any moment.

But they`ve got that edge. They are willing to try different things

and Microsoft (NASDAQ:MSFT) tends to focus a little bit more tightly and

sometimes can appeal more methodical in their approach.

MATHISEN: All right. Lance (NASDAQ:LNCE), thank you very much.

Lance (NASDAQ:LNCE) Ulanoff, editor-in-chief at Mashable.


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ULANOFF: My pleasure.

GHARIB: Well, it`s not just P.C. sales that concern investors, so do

semiconductors and that`s where we begin tonight`s "Market Focus"

Barclays downgraded the entire semiconductor group, citing weak

revenue growth. According to Barclays, a maturing mobile industry, and the

lack of new big consumer products are hurting the sales outlook.

Here is a look how semis closed. AMD fell almost 3 1/2 percent,

Broadcom (NASDAQ:BRCM) lost more than 1 percent, NVIDA down a half a

percent.

MATHISEN: Susie, although retail sales reports from March were spotty

as expected, JCPenney and other merchants led the S&P 500 today. Investor

Bill Ackman says he believes Penney shares are worth $75 a piece.

And Ross Stores (NASDAQ:ROST) and the Limited were leaders as well in

the market today. JCPenney up about 5.5 percent. Discounter Ross gained

about 6 percent, and L Brands, as we mentioned, the new name for the

Limited, was up more than 4 percent.

The teen retailer Zumiez (NASDAQ:ZUMZ) zoomed past all of them, higher

by 13 percent.


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GHARIB: Acadia Pharmaceutical got a big OK from the Food and Drug

Administration today. Shares of this biotech surged. The FDA saying the

company has enough data for a new Parkinson`s drug without additional

trials. Shares of Acadia gained more than 64 percent, to $13 a share.

That`s the highest closing price in five years.

MATHISEN: And investors bid up Facebook (NASDAQ:FB) in advance of its

Home download that goes live tomorrow. The first Facebook (NASDAQ:FB)

optimized phone will be available at AT&T (NYSE:T) as well. Shares of

Facebook (NASDAQ:FB) gained more than 1 1/2 percent, $28 a piece. That is

still $10 below the IPO price of $38 a share.

GHARIB: And Netflix (NASDAQ:NFLX) rose 4 percent today on news that

it`s adding shows from Hasbro (NYSE:HAS) Studios. Under the deal, Netflix

(NASDAQ:NFLX) will offer its members streaming versions of popular kids

shows like the "Littlest Pet Shop". Netflix (NASDAQ:NFLX) gained $7 to

$173 a share.

MATHISEN: Things got a whole lot worse today for Scott London, the

former KPMG executive, accused of giving out inside information about big

California-based companies his firm audited. They got worse too for his

stock trader friend who benefited from the proprietary information.

Jane Wells now has more on how those dirty deals went down, how much


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money change hands and the civil and criminal charges both men now face.

(BEGIN VIDEOTAPE)

JANE WELLS, NIGHTLY BUSINESS REPORT CORRESPONDENT: Quote, "Insider

trading was like counting cards in Vegas." That line allegedly spoken by

fired KPMG senior partner Scott London to a country club friend who was

reporting on and at times recording information London was ascending to him

in what the FBI says was a huge insider trading scandal involving at least

five companies.

The FBI says this photo shows London accepting 5 grand in cash from

jeweler Brian Shaw, which London allegedly believed was his cut for profits

made on a tip about Decker`s Outdoors which sells Uggs. The feds claimed

tips like that made Shaw, whose jewelry business was hit hard in the

recession, more than a million dollars in illegal profits before the FBI

confronted him and he agreed to work with authorities.

London faces five years in prison and hefty fines, if convicted.

Despite what he`s assumed to be a nice income, the feds claimed London

accepted a total of 50 grand in cash and gifts from his friends.

And earlier we spoke with Brian Shaw`s attorney.

NATHAN HOCHMAN, BRYAN SHAW`S ATTORNEY: When Mr. Shaw came in at the


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beginning of this year, 2013, he came in without any deals. And he decided

to go forward with the government, fully, completely and truthfully. To

date, he has no deals. No deals with the SEC. No deals with the U.S.

Department of Justice or the FBI.

WELLS: One of the more interesting exchanges involved Herbalife

(NYSE:HLF). According to the complaint, London allegedly tipped off Shaw

that Herbalife (NYSE:HLF) should beat earnings in February, and that should

send the stock up. But, quote, he was concerned about hedge fund manager

Bill Ackman driving the price down.

And then later on, after Carl Icahn revealed he had bought a lot of

Herbalife (NYSE:HLF) stock, Shaw told London, "I wish you would have known

that he was going to release that, we could have made some money." London

responded, "Yeah, that would have been nice."

Both men have admitted in public statements that they regret their

actions, Shaw calling his stupid. We`ll have to see if that draws leniency

from authorities.

For NIGHTLY BUSINESS REPORT, I`m Jane Wells, Los Angeles.

(END VIDEOTAPE)

MATHISEN: Certainly, Mr. London faces some jail time if this is prove


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true. I would scratch my head and I wonder, what were they thinking when

they went into this?

GHARIB: One case after another. We see the headlines all the time.

You cannot get away with it.

MATHISEN: Yes. Eventually, they`re going to catch you.

GHARIB: Moving along, coming up: will your neighborhood bank branch

soon be a thing of the past?

But, first, let`s take a look at the international markets closed

today.

(MUSIC)

MATHISEN: Jamie Dimon of JPMorgan (NYSE:JPM) Chase, Lloyd Blankfein

from Goldman Sachs (NYSE:GS), Bank of America`s Brian Moynihan and more.

President Obama hosted top executives from some of the nation`s biggest

banks and insurance companies at the White House today for a regular

meeting of the financial services forum. On the agenda: immigration

reform, job creation, and cyber security, a growing concern for the

industry.

GHARIB: Now, some of those same bank CEOs are in the process of


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making some major decisions about your local bank branch. Consumer habits

are changing, bank branches aren`t as busy and all that pricey corner real

estate may no longer be necessary.

And Kayla Tausche is here with more.

Hi, Kayla.

KAYLA TAUSCHE, NIGHTLY BUSINESS REPORT CORRESPONDENT: Hi, Susie.

Nearly 100,000 bank branches are open for business. They`re costly,

in many cases inefficient. And thanks to better mobile technology and

smarter ATMs, consumers are going to them less and less. It`s left the

industry in a precarious position. No one wants to see its physical

presence shrink, but in the end, there may not be a choice.

(BEGIN VIDEOTAPE)

TAUSCHE (voice-over): Times Square bustles with activity. Its bank

branches no exception.

But these New Yorkers weren`t satisfied customers, which could be

telling for the industry.

UNIDENTIFIED MALE: The last time I came here was to cancel my


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account.

UNIDENTIFIED FEMALE: It`s easier to do it from home than online.

Much easier.

UNIDENTIFIED FEMALE: I usually go to the atm.

UNIDENTIFIED FEMALE: Because it`s easier and I don`t have to deal

with people.

TAUSCHE: It`s not just an urban phenomenon. Mobile banking usage

across the U.S. jumped double digits last year. Smart ATMs and apps are

doing the work bank tellers used to do.

It`s no surprise then that branches across America are shutting down,

1,100 last year alone, the most in a four-year stretch of downsizing.

JONATHAN LARSEN, CITI HEAD OF RETAIL BANKING: We really don`t need

branches as we look into the future to perform basic transactional tasks.

TAUSCHE: But they do for big ticket transactions like getting a loan.

That`s why Jonathan Larsen, who runs Citigroup`s 4,000 global branches,

says the branch won`t go away. It just needs to be where the most

customers are in the big city.


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LARSEN: We`ll probably end over time with more outlets. It`s just

that they`ll be of a different nature and on average, smaller than

traditional outlets.

TAUSCHE: Other banks are onboard. Bank of America (NYSE:BAC)

shuttered 250 branches last year, using the money saved for a technology

facelift at other stores.

Wells Fargo (NYSE:WFC), the largest domestic branch operator, is

experimenting with ways to cut costs so it too can grow.

JONATHAN VELLINE, WELLS FARGO HEAD OF STORE STRATEGY: We`re notabout

closing stores. We`re opening stores. We`re trying to make ourselves more

convenient for our customers.

TAUSCHE: Another bank stalwart, JPMorgan (NYSE:JPM) Chase, building

100 new outposts each year, focusing on financial advisory services and

letting technology handle the simple stuff.

Smaller and smarter, how the industry hopes to keep its branches

relevant.

(END VIDEOTAPE)

TAUSCHE: Critics say the branch has just become an expensive


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billboard and that banks could afford to ax as much 25 percent of them.

It`s a valuable tool for attracting business. Consumers say they do

research online, but for big money decisions like getting a mortgage or

credit card, they want to do it in person.

GHARIB: Kayla, I know you did a survey of a lot of consumer to see

how they feel about their bank branch and whether they would have an

account at a bank if it didn`t have a branch. I know how I would answer

that. But I want to know what the people who responded that.

TAUSCHE: We`re in that situation now, but it looks like down the

road, that`s where the industry could go. We polled about 1,000

respondents, 60 percent said they would not consider banking with a firm

that had no physical presence where they could go if they need to trouble

shoot or had a problem. Thirty percent said, yes, they would consider it.

Nine percent said maybe.

MATHISEN: The only time I ve been in a bank branch recently because

mine has those coin counter machines and I can get my coins counted easily.

That`s the only reason I use it.

Tomorrow, big earnings out of a couple of big banks -- Wells Fargo

(NYSE:WFC), and JPMorgan (NYSE:JPM). What`s the forecast?

TAUSCHE: There`s a little concern about what we`re going to see from


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these banks for two reasons. One, interest rates are still low and, of

course, bank`s number one business is lending. If you`re lending at a

lower interest rate, you make less money. We`re concerned about that.

The other thing is they have been making a lot of business off the

mortgage boom. Because of these low interest rates, a lot of people have

been refinancing their mortgages. That activity is slowing down. So,

analysts are cautious about what we`re going to see from the banks.

MATHISEN: All right. Kayla, thank you very much for being with us.

And still to come, the big gamble Maryland is taking to improve the

state`s finances.

But, first, a look at how commodities, currencies and treasuries fared

today.

(MUSIC)

MATHISEN: Hundreds of good-paying jobs, millions in tax revenue for

cities and states, and the chance for people to win big. It`s no wonder

more states are building and opening new casinos or allowing existing ones

to add higher stakes live table games, like the one outside Baltimore did

earlier today.


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So, will Maryland`s big gamble pay off?

Eamon Javers has our report.

(BEGIN VIDEOTAPE)

EAMON JAVERS, NIGHTLY BUSINESS REPORT (voice-over): There were

winners and losers on the first day of table gaming at the Maryland Live

Casino in the Baltimore suburbs. Table games are new for Maryland and the

owners of this casino say they are happy with day one.

DAVID CORDISH, THER CORDISH COMPANIES CHAIRMAN: We promised aworld-

class casino. Now, we`ve got all the elements.

JAVERS (on camera): This is a casino that was already doing $1.5

million a day in revenue from slot machines. Now that they`ve got these

new table games, they say that number is going to go up by about 20

percent. And they say they can deliver about $400 million a year in tax

revenue to the state of Maryland. And they`re also generating jobs for

some of the local residents.

BREINA RIPPY, CASINO DEALER: I just don`t want to disappointment the

customer. I want them to be happy. I want to give them a good time and,

obviously, I want them to win. But for the casino, I want to take their

money.


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JAVERS (voice-over): And that`s the danger for some people.

STEVEN MIN: I do not want to see people coming here, losing their

house or going any further. Such as credit card debt. Know your limits

and knowing when to stop before you start.

JAVERS: More and more states are turning to gambling to fill state

coffers, and nationally, gambling revenues are expected to hit $37.3

billion this year, nearly back to the prerecession peak of $37.5 billion

back in 2007.

Now the question is, how much more room is there to grow?

CORDISH: Casinos are not 7-Elevens and they`re not McDonald`s. And

they will reach a point and some people think in certain areas in the East

we`ve reached it already of oversaturation.

JAVERS: But not yet. Already by lunchtime, this casino generated two

big winners, one person won $20,000, and another won a whopping $64,000.

For NIGHTLY BUSINESS REPORT, I`m Eamon Javers.

(END VIDEOTAPE)


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GHARIB: From state finances to personal ones, tax time can have a

significant impact on your bottom line, a positive one if you are getting a

refund. The IRS says it sent refunds to more than 78 million taxpayers,

totaling over $270 billion so far this tax season.

Sharon Epperson joins us now with more on where taxpayers are putting

their refund money this year.

Sharon, lucky for those who are getting refunds.

SHARON EPPERSON, NIGHTLY BUSINESS REPORT CORRESPONDENT: It is avery

lucky day for them.

GHARIB: Tell us a little bit about what is the average refund? How

much money are we talking about?

EPPERSON: Well, right now, we`re talking about the average refund for

2013, as of April 5th, is $2,755. Now, this compares to about $2,800 last

year and $2,900 in 2011.

So, the average refund is coming down, but we are looking at a lot of

people happy to get that amount of money.

MATHISEN: Why is it coming down, Sharon? And what are people doing

with it?


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EPPERSON: Well, it`s coming down, of course, perhaps because a lot of

people who are underemployed are not earning the same amount that they

were, and maybe they`re not getting the same refunds. But we`re also

looking at we`re not all the way through this filing season and through the

refund season yet. And those 2012/2011 numbers were for the full year.

So, we still have some time. Maybe some of those big checks are still

waiting to come in.

GHARIB: And what are they doing with the money? Are they saving it?

Are they spending it?

EPPERSON: Well, you know, something has changed in the last year.

The American Institute of Certified Public Accountants did a survey and

they found that 43 percent of those who said that they are getting a refund

this year say they really need it. Much more than they did in years

passed. And this is because of the payroll tax hike. They`re saying they

really need it to really cover every day expenses.

So, what they found is while the majority of people are saying that

were going to save this money, there are a lot of people who are saying

that they`re going to use this money for day-to-day expenses and then some

are saying they`re going to use it for paying down their credit card debt,

and a much smaller percentage that are actually looking at long-term goals


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like saving for college or saving for retirement.

MATHISEN: What`s the best thing to do with the refund?

EPPERSON: Well, the best thing to do is prioritize, Tyler, like we

always talk about. You really need to set out your financial goals, that`s

financial planning 101, and really start to figure out what you need the

money for. Basic expenses, of course, you have to make sure that those are

covered and then you also want to make sure you have an emergency fund. So

many people forget about the key part of their financial plan, and then

also paying down debt.

Those are the three areas where really people focus on, and when they

have money left over, then they can decide what they want to do with it.

GHARIB: Well, speaking of it. So, let`s say you pay down your debt,

and you put money in your emergency fund, you did all your expenses -- is

it OK to use some of that money for fun, for a vacation, or something

special?

EPPERSON: Well, I definitely believe in fun money. In my book, "The

Big Payoff," I talk about you got to have some fun money. But the thing

is, you also want to think about some of these long-term goals. This is a

great time to really jump-start that retirement fund, to really add to that

college savings plan, to perhaps make an extra mortgage payment. And so,


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if you can, that may be a good way to use that big chunk of money.

The bottom line is, though, actually, you don`t want to get the big

refund. That`s what a lot of people don`t realize. You want to change

your withholding allowances to get your cash in your pocket all the time,

so that you can save regularly, or spend regularly if you need to.

MATHISEN: All right. Sharon, that`s good advice. Thanks so much.

We`ll see you tomorrow as we close out our tax tip series with a look at

paying back Uncle Sam without breaking the bank.

GHARIB: And finally, tonight, most 14-year-olds right now are trying

to navigate their way through eighth grade. But not Tianlang Guan, the

Chinese 14-year-old became the youngest player ever to tee off at the

Masters Golf Tournament. He`s navigating the course at Augusta National in

Georgia. The teenage sensation qualified for the first round of this

year`s tournament by winning the Asia-Pacific Amateur Championship and

before play, he was seen shooting practice rounds with Tom Watson and none

other than Tiger Woods, another one of those one-time teenage wunderkind

who inspired Guan to play golf in the first place.

MATHISEN: What a great story.

Tomorrow on NIGHTLY BUSINESS REPORT, JPMorgan (NYSE:JPM) Chase and

Wells Fargo (NYSE:WFC), as we mentioned, report earnings for the first


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quarter. Lots of people watching that one. Monthly reports from the

government on retail sales and producer prices for March, and consumer

sentiment for early April is scheduled to be released.

GHARIB: Got a lot coming up tomorrow. So be sure to tune in for

that.

But hat`s NIGHTLY BUSINESS REPORT for tonight. I`m Susie Gharib.

Thanks so much for watching.

MATHISEN: And I`m Tyler Mathisen. Have a great evening, everybody.

We hope to see you back here tomorrow night.

END

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Nightly Business Report - Thursday April 11 2013