Show: NIGHTLY BUSINESS REPORT>
<Date: May 8, 2013>
<Time: 18:30:00>
<Tran: 050801cb.118>
<Type: SHOW>
<Head: NIGHTLY BUSINESS REPORT for May 8, 2013, PBS>
<Sect: News; Domestic>
<Byline: Susie Gharib, Tyler Mathisen, Jane Wells, Scott Cohn, Hampton Pearson, Eamon
Javers>
<Guest: John Sweeney, Richard Anderson>
<Spec: Business; Economy; Stock Markets; Wall Street; World Affairs; Health and Medicine;
Insurance; Defense; Internet; Safety>
<Time: 18:30:00>
ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen and
Susie Gharib, brought to you by --
(COMMERCIAL AD)
SUSIE GHARIB, NIGHTLY BUSINESS REPORT ANCHOR: In or out? With stock
markets around the world powering higher, is now the time to stay in, stay
invested or get out of stocks?
We`ll speak with Fidelity`s head of retirement and investment
strategies, John Sweeney.
TYLER MATHISEN, NIGHTLY BUSINESS REPORT ANCHOR: Hospital sticker
shock. Why do hospitals across the country charge vastly different prices
for the very same procedure?
GHARIB: On the front lines. We`ll take you inside the computer lab
where a cyber war is being waged against sophisticated hackers in order to
protect businesses and you.
We have all that and more tonight on NIGHTLY BUSINESS REPORT for
Wednesday, May 8th.
Good evening, everyone.
Tyler, I overheard someone the other day saying, will the stock market
ever go down? It sure doesn`t look like it.
MATHISEN: It never will. I don`t know. It absolutely will. We just
don`t know exactly when.
It does seem right now, though, like nothing can stop Wall Street`s
bulls from pushing this market higher.
In today`s sessions, gains were modest, but they were enough to send
the Dow and the S&P 500 once again to fresh all-time closing highs. The
Dow was up 49 points today and the record there, 15,105, NASDAQ adding 16,
and the S&P, it was up by six points, helped by some encouraging data on
housing and on another round of strong corporate earnings. More about
those a little later.
So, what does the recent run-up in the markets and rising prices for
stocks mean to individual investors like you?
Jane Wells tells us how some investors are waiting to get into the
market or maybe take a little cash out.
(BEGIN VIDEOTAPE)
JANE WELLS, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over):
The
markets are high and keep going higher. Not just here --
UNIDENTIFIED FEMALE: But the clear outperformer was Japan.
WELLS: -- but everywhere.
UNIDENTIFIED FEMALE: Especially today, we saw you new five-year highs
being hit in Japan on the Nikkei.
WELLS: Does the individual investor believe it can last?
UNIDENTIFIED FEMALE: I think it will continue to grow.
UNIDENTIFIED MALE: That`s nonsense. One of these days, it`s going to
crash.
UNIDENTIFIED MALE: I think you`re going to see another dip and then I
might on then.
WELLS: Many have already gone in. Last quarter, E*TRADE says
customers bought $1.2 billion more in stocks than they sold. TD Ameritrade
(NASDAQ:AMTD) saw a 20 percent jump in net new assets. And Charles Schwab
saw a 9 percent increase in new brokerage accounts from February to March.
It seems everybody is positive.
CRAIG RUMBERG, INVESTOR: It does worry when everybody is positive.
WELLS: Craig Rumberg is an individual investor who runs a staffing
company, Cyberforce, which gives him a unique perspective on employment.
So he`s investing in things like health care and even airlines.
RUMBERG: I tend to look at things that I can feel and see. So when I
-- you know, when I just took a flight, you know, it was packed and all of
these flights are packed.
WELLS (on camera): But as global markets also rise, Germany just hit
a new record, managers of international funds are waiting for investors to
pile in there, too.
Sammy Simnegar of Fidelity liked what`s happening in Japan and he also
likes companies which cater to consumers and emerging markets.
SAMMY SIMNEGAR, FIDELITY PORTFOLIO MANAGER: There are a lot of
European luxury companies that get 30 percent, 40 percent, 50 percent of
their revenues from emerging market consumption.
WELLS (voice-over): It all sounds great, but Craig Rumberg says a lot
of regular folks have a hard time believing it.
RUMBERG: At this point, the markets rally. But most of the people
that I talk to that are regular, average Joes, haven`t participated.
Either they were scared or they`re still recovering from the last crash.
WELLS: He says the biggest challenge facing the market may not be
fundamentals, but trust.
For NIGHTLY BUSINESS REPORT, Jane Wells, Los Angeles.
(END VIDEOTAPE)
GHARIB: Well, John Sweeney has been busy these days talking to
individual investors and reassuring them about what to do with their money.
He`s the executive vice president in charge of retirement and investment
strategies at Fidelity Investments.
John, the question and the dilemma, I`m sure you hear this all of the
time. Is it too late to get in the markets, and then a pause, is it too
risky to get in the markets? What do you tell your clients?
JOHN SWEENEY, FIDELITY INVESTMENTS PLANNING & ADVISORY
SERVICES:
Right. We try to make the customer understand the role of equities
particularly in their portfolios. So, you remember equities are the place
where you want to have inflation. You always want to have consumers
understand how much equity they want to have in their portfolios.
For young investors, that means they`re going to have almost all of
their portfolios in equities if they`re saving for retirement that`s 40
years in the future. But even for retirees, a 65-year-old should probably
have half of their retirement portfolio in stocks because they`re trying to
plan for a 30-year time horizon in which they`re going to live off those
investments.
GHARIB: But the nervousness about the markets and the direction and
all that kind of stuff, there are still a lot of people who are putting
money into bonds. Yes, a lot of money has been flowing into stock mutual
funds. But still at a pretty good cliff, they`re going into bonds.
And Warren Buffett earlier this week was talking about investing in
bonds. Let`s take a listen. I`d like to get your reaction.
(BEGIN VIDEO CLIP)
WARREN BUFFETT, BERKSHIRE HATHAWAY CHMN. & CEO: I like owning
stocks.
I do not like owning bonds now. There could be conditions under which we
would like -- we would own bonds. But their conditions are far different
than what exists now.
Bonds are priced artificially and that`s some guy buying, $85 billion
a month and that will change at some point. And when it changes, people
can lose a lot of money if they`re in long-term bonds.
(END VIDEO CLIP)
GHARIB: So, John, is Warren Buffett right about it? Is it too risky
to be in bonds?
SWEENEY: Well, he talks about the Fed`s $85 billion of purchase of
bonds every quarter. And what you have there is you have obviously been
trying to stimulate the economy, and what we`ve been waiting for, for
several years now, is the inflation to kick in and so we see as the Fed
policy continuing over long periods of time, when it will happen, how
quickly it will happen and what impact it will have on rates remains to be
seen.
What you need to remember, though, is that bonds play an important
role in a portfolio, A, is a diversifier and, B, is balance against
equities. You want to have the right proportion of bonds in your
portfolio, depending on your age and your risk tolerance.
GHARIB: Let`s talk about depending on your age. Let`s say you`re
about to retire or you`re already or recently retired. You mentioned a
moment ago, 50 percent stock. How do you divide up the rest?
SWEENEY: Right. So you want to think about 40 percent bonds and if
you`re worried about the prospect of rising rates, you want to think about
different types of bonds. Investment grade corporate bonds offer a
different risk profile obviously than government bonds, short of duration
bonds, non-U.S. bonds all offer different risk profiles. So you want to
think about the mix and different types of bonds that you can own in your
portfolio.
GHARIB: You know, one of the things that makes investors nervous, and
you heard the story that Jane Wells just did. They worry that the markets
are rigged. They worry it`s risky. They`re worried that another shoe will
drop and markets will plunge.
I`m sure you hear this all of the time. What do you tell people?
SWEENEY: Right. So remember risk. You are taking risk because you
want to get a return. So when you invest in a company and you`re looking
at companies that are growing their earnings and really take business risk
in order to grow earnings on your behalf, and you`re going to have to trust
that the management of those companies know what you`re doing. If you`re
buying a mutual fund, you trust that the portfolio manager is picking
companies that are growing earnings.
They`re all expected to make sure that their earnings continue to grow
and that`s the place where you need take some risk so that you can make
sure your money is growing for you and outpacing inflation.
GHARIB: What`s your advice of investors in terms of -- if they have
some money and they want to put it into the markets. Buying a few stocks
that they think are high quality stocks versus going into a mutual fund.
I know fidelity runs a lot of fund, but -- I mean, generally speak,
which way are the investors, especially nervous ones, better off?
SWEENENY: Well, we certainly serve investors who select their own
securities, plus investors who invest in mutual funds. The question is
diversification. So, you don`t want to put your stocks in just a few names
because we all know the history of companies that were once highfliers and
subsequently crashed.
The great thing about an actively managed fund is you have a fund
manager who`s spending every waking hour looking at those earnings
statements, looking and interviewing corporate CEOs, CFOs and trying to
make the best decision on your behalf.
So, we are talking about skill, will and time. If you have the skill
and you`re disciplined enough to invest when the market is down and
discipline enough to sell when the stock reaches a target price, and you`re
willing to invest the time, great, go ahead and do that. If you are not
willing to make those decisions, then let someone do it for you.
GHARIB: Good rule of thumb. Thanks so much, John. John Sweeney of
Fidelity Investments.
SWEENEY: Thanks, Susie.
MATHISEN: A whole batch of earnings from corporate America to tell
you about that dominates our "Market Focus" today. Toyota`s U.S. shares
touch a new 52-week high, and profits tripled for the company`s fiscal
year, topping analyst estimates and even its own projections. Toyota
(NYSE:TM) expects U.S. sales to grow this year, helped by the drop in the
value of the yen.
Shares of Toyota (NYSE:TM) up $119.70, up more than 3 percent on the
day.
GHARIB: Earnings and revenues at News Corp (NASDAQ:NWS) also came in
above estimates. The company expects to complete its split into two
companies near the end of June. News Corp (NASDAQ:NWS) shares fell about a
percent to $31.86. That was in the regular session and then they surged in
after-hours trading.
MATHISEN: Activision shares hit a new 52-week high ahead of its
earnings report today and profits did rise 19 percent in the quarter on the
debut of its "Starcraft 2" game. But guidance was cautious because of
concerns about the next generation of video game consoles and fewer
subscribers to its "World of Warcraft" game.
Shares of Activision closed at $16.26. That is up more than 2 percent
and then they lost ground after-hours, dropping more than 5 percent as you
see on that chart.
Wendy`s profits down 83 percent, hurt by higher food costs and
increased marketing expensive. Wendy`s revenues improved a little bit, and
the company raised its full-year profit estimates. But investors did sell
off, shares falling more than 5 1/2 percent, to close at $5.77.
GHARIB: And business is percolating at Green Mountain Coffee Roasters
(NASDAQ:GMCR). It reported strong profits, raised guidance and announced a
new five-year agreement with Starbucks (NASDAQ:SBUX). That deal expands
the number of Starbucks (NASDAQ:SBUX) product available on Green Mountain`s
Keurig platform beyond North America.
Shares rose more than 1.5 percent to $59.48. And then they soared
after-hours, adding as much as 10 percent.
MATHISEN: Delta Air Lines is doing something it has aren`t done in a
decade, issuing a dividend. It`s part of the company`s plan to return more
than $1 billion to shareholders over the next three years. Delta`s board
also approved a stock buyback program for $500 million. This comes as the
airlines work to reduce its debt and boost profits.
And earlier today, I talked to Delta CEO Richard Anderson and I begun
by asking him about airline`s financial performance.
(BEGIN VIDETAPE)
RICHARD ANDERSON, DELTA AIR LINES CEO: We did it with really good
revenue performance, extraordinary cost performance, and really good
execution across our sales and operating plan.
MATHISEN: Let`s talk a little bit about how you have been able to do
two critical things to the traveling public. One is boost your own time
performance, the other is reduce the number of complaints that have been
reaching the Department of Transportation.
What are you doing operational to improve performance?
ANDERSON: Well, the first thing is we want to run as close to a
perfect airline as possible. No cancellations and unless the weather gives
us a problem, we want to run in the mid-90s with on-time performance.
And second, we`ve incented (ph) all of our employees to put themselves
in the shoes of our customers because as our founder said, we have a
responsibility over and above the price of the ticket, and we have made
that ring true with our employees. They`re doing a phenomenal job and our
customers are recognizing it.
MATHISEN: The story in "The Wall Street Journal" today, a study from
MIT indicating that one of the reasons the airline business is doing better
financially is that you have reduced the number of flights particularly to
a second and third-tier markets.
How has the reduction in the number of flights and in capacity help
you achieve better financial results?
ANDERSON: Well, many of those markets were served by 50-seat regional
jets which are $100 a barrel fuel are uneconomic. So it`s very basic.
It`s taking out uneconomic flying because many of those markets are what we
call very thin markets. There just aren`t that many passengers in those
markets.
And once the 50-seat jet becomes uneconomic because of fuel prices,
it`s imperative if we`re going to be successful as an enterprise that we
not subsidize that flying.
MATHISEN: Let`s talk a little bit about the international business.
You`re about to open a new $1.2 billion terminal at JFK airport in New
York. You`ve also expanded at your service at LaGuardia.
How important is the international business to you right now?
Obviously, a big new terminal is not something that you`re going to
amortize over just one year. But are you concerned about how vigorous the
economy is in Europe with respect to that new terminal?
ANDERSON: Well, we actually plan long term for a relatively mild GDP
growth around the world and we build our capacity and build our plan on
that basis. At JFK, we`ll have the premium facility at JFK, number one
carrier from New York across the transatlantic with our partners at KLM and
Air France and Alitalia.
And, very quickly, Sir Richard Branson, Virgin, Atlantic and Delta
will be together in terminal 4.
So, we`re optimistic about our positioning and it`s an unrepeatable
position strategically for us in JFK, and we`ll be very successful for our
share owners. So, we can raise that dividend one day.
MATHISEN: Give us an update on the status of the deal between you and
Virgin Atlantic. You`re going to take a 49 percent stake in it. It is
pending some antitrust approvals, where does this stand?
ANDERSON: Well, we are -- we have four levels of approval, the
British government, the E.U., DOT and DOJ. And we`re making good progress
on all four fronts and we expect to close by September.
MATHISEN: Let`s talk a little bit about one thing that has helped
your revenue but hurts the traveling public in the pocketbook, and that is
change fees. They`ve been just boosted industry wide from generally $150
to $200 for making a change. How do you justify that?
ANDERSON: Essentially, what the change fees do is prevent a situation
where someone buys a ticket and then changes it over and over and over
again, which in essence makes it an option on any flight, any day on any
seat. We can`t run the airline that way. We`ve got to be pretty specific,
just like hotels are and rental car companies, about wanting you to stick
about your reservation.
(END VIDEOTAPE)
MATHISEN: Shares of Delta hit a 52-week high today. They closed at
$18.66 a share, and the stock is up 67 percent over the past year.
GHARIB: Still ahead on the program: one hospital charges $320,000 for
a procedure. Another, $20,000 for the same procedure. But will knowing
about these price swings help drive down health care costs?
Well, first, let`s take a look at how the international markets closed
today.
(MUSIC)
MATHISEN: Jeffrey Skilling, the disgraced former CEO of Enron, struck
a deal with the Justice Department that could get him freed from federal
prison in just four years. That is 10 years earlier than the sentence
handed down at this 2006 conviction for fraud, conspiracy and insider
trading, crimes that contributed to the collapse of the Texas-based energy
giant in 2001.
A federal judge has to approve the agreement at a resentencing in June
before he gets that earlier release.
Scott Cohn has been following this story for years.
Tell us how this story came about, Scott.
SCOTT COHN, NIGHTLY BUSINESS REPORT CORRESPONDENT: Well, this was
a
classic negotiation. Remember back in 2006 when this trial took place of
Enron`s Jeff Skilling and the late Ken Lay. The wounds from the dot-com
bubble were still fresh.
Judge Sim Lake in Houston sentenced Jeff Skilling to 24 years and four
months in prison, a harsh sentence -- one of the harshest for white-collar
crime.
A federal court in 2009 ruled that that sentence was too harsh and he
should get more like 15 years, but the resentencing has been on hold
because Skilling had a number of appeals they had to work through,
including going to the U.S. Supreme Court which sent it back to the Court
of Appeals which still upheld the conviction.
Skilling wants some freedom. He`s 59 years old. The government wants
to be done with this case and there`s some $40 million in restitution that
Skilling owed to the victims, but that all was all tied up.
Now, this all of this goes away. The money could be distributed.
Skilling gets his freedom. The 19 convictions for fraud, conspiracy and
insider trading stand, Skilling can`t appeal to them anymore.
GHARIB: You know, Scott, it was amazing and what was surprising to
hear this decision, is that we`ve seen before other convicted, high-profile
CEOs not having any success in getting time off.
There`s Allen Stanford. There was Dennis Kozlowski of Tyco. What did
Skilling do that they didn`t do and that he got this time off?
COHN: Well, one of the issues is the case against Skilling had flaws
and the Appeals Court mentioned that. The Supreme Court, as I said, kicked
it back and so he had a little bit of leverage here.
He was set to go to the district court and the judge who sentenced him
said there was misconduct and the elite and the justice department team of
prosecutors who handled this case. That would have opened up a whole new
can of worms, more appeals, potentially a new trial and everyone has just
decided now. Let`s get on with life.
MATHISEN: Is getting the judge`s approval in this case a foregone
conclusion? Is that really remaining a hurdle?
COHN: That is a hurdle. Remember the judge handed down a very harsh
sentence to begin with. He still does the same judge still has to approve
this deal. Now, he`s been aware of the negotiations that have been going
on. He`s been holding conference calls with the defense attorneys and the
prosecutors. But that doesn`t mean he`s signed off on it.
It will now be up to him and the sentencing will take place on June
21st and we`ll see.
MATHISEN: All right. Scott Cohn, thank you very much.
GHARIB: The overhaul of the nation`s health care system has focused a
bright spotlight on what hospitals charge insurers, Medicare and patients
who don`t have any medical coverage for certain procedures. And the
results are startling. The data shows different hospitals often charge
vastly different prices for the same procedure.
Hampton Pearson has more on the massive discrepancies and cost and how
they may impact your premiums.
(BEGIN VIDEOTAPE)
HAMPTON PEARSON, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-
over):
Call it hospital sticker shock. First time ever government data on the
huge gaps and hospital charges for the same procedures nationwide. 2011
data on what 3,300 hospitals billed Medicare for the 100 most common
procedures all now in a massive database that consumers can access. No
comment from the hospital industry, but the Obama administration says it`s
the kind of transparency that could be a game-changer when it comes to
lowering hospital costs.
TODD PARK, U.S. CHIEF TECHNOLOGY OFFICER: The history of the
marketplace is that transparent market places are more competitive. And
more competitive market places drive down cost. And that`s certainly the
hope here.
PEARSON: A few examples, a hip replacement costs $321,000 at a
medical center in Upland, Pennsylvania, but just over $20,000 at an Akron,
Ohio, orthopedic facility.
Treating a heart attack costs $210,000 at a medical center in
Pennington, New York, but just under $7,100 at the Huron Medical Center in
Bad Axe, Michigan.
The bill for gall bladder surgery topped $150,000 at a medical center
in Bayonne, New Jersey, but just over $5,100 in a hospital in Danville,
Arkansas.
Most patients don`t get hit with the full bill because they`re paid by
either government or private insurance, who negotiate lower payments. But
those wide-ranging costs are reflected in premiums.
ROBERT ZIRKELBACH, AMERICA`S HEALTHINSURANCE PLANS: The data is
very
clear. Premiums track directly with the underlying cost of medical care.
As the cost of providing care increases, as the price has increased, that`s
having a direct impact on what consumers and employers are paying for
healthcare services.
PEARSON: The government sees businesses and consumers using the
information to make better choices and put pressure on hospitals to lower
costs.
For NIGHTLY BUSINESS REPORT, I`m Hampton Pearson in Washington.
(END VIDEOTAPE)
MATHISEN: Also on the medical front today, a new test is now
available that can help distinguish between aggressive forms of prostate
cancer and the less threatening once. The hope is that the test could
significantly increase the number of men who would monitor their tumor
rather than undergo surgery or radiation. Shares of Genomic Health
(NASDAQ:GHDX), the company that makes the test, rose more than 6 percent
today.
And coming up, we`ll take you inside a computer lab with a new war
against cyber terrorism that`s being wedged.
But, first, take a look now at how commodities, treasuries, currencies
fared today.
(MUSIC)
GHARIB: On Capitol Hill today, computer hacking in the spotlight. A
Senate committee looked at the growing threat of sophisticated computer
hacking attacks on corporations and government agencies, sometimes at the
hands of China`s military.
Now, one company in Upstate New York is at the forefront of the new
cyber battlefield, tracking down and stopping those violations.
Eamon Javers has more.
(BEGIN VIDEOTAPE)
EAMON JAVERS, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over):
On
the front lines of the cyber war, things look much different than U.S.
military veterans are used to, just ask former U.S. Major General David
Fastabend.
DAVID FASTABEND, EXELIS ADVANCED INFORMATION SYSTEMS: Unlike
most of
my experience in the military, where I had clear, technical advantage,
there`s lots of us in the United States that are compared to the people
that are coming at us don`t have so much technical advantage.
JAVERS: In the Army, Fastabend who now oversees advanced information
systems for defense contracting firm Exelis always had the upper hand when
it came to technology and manpower.
But in cyberspace, that`s not always the case. Under-equipped
corporate I.T. departments can find themselves tangling with elite Chinese
army units probing every nook and cranny of the U.S. defense and industrial
base.
FASTABEND: You find you have an adversary that`s adapting very, very
quickly.
JAVERS: And that`s forcing the United States to adapt quickly, too.
On Monday, for the first time, the Pentagon made it clear what many in the
U.S. government had discussed obliquely before. The U.S. government is
being raided by hackers working for the Chinese military.
DAVID HELVEY, DEPUTY ASST. SEC. OF DEFENSE FOR EAST ASIA: The
Chinese
military continues to explore the role of military operations in cyberspace
as a feature of modern warfare.
JAVERS (on camera): The struggle between hackers and their targets is
playing out inside defense companies and technology firms all across the
country, but not all of them will have the kind of robust capability that
you`ll see here inside Exelis` Rome, New York Cyber Incident Response
Center.
(voice-over): The firm`s analysts tore through inbound cyber attacks
to isolate and understand the constantly-evolving malware trying to
penetrate their systems. And for all of that, Exelis cyber security
analyst Vernon McCandlish says he has a grudging respect for the adversary
he tangles with each day.
VERNON MCCANDLISH, EXELIS CYBER SECURITY ANALYST: What really
surprises me about it is the creativity that they come at you with. It`s
one of those things where we will sometimes sit there and go, that`s really
cool. It`s evil, but it`s cool.
JAVERS: For NIGHTLY BUSINESS REPORT, I`m Eamon Javers in Rome, New
York.
(END VIDEOTAPE)
GHARIB: A recent report from Semantics said targeted attacks were up
42 percent last year. Now, one-third of them were aimed at U.S.
manufacturing and small businesses.
MATHISEN: And finally tonight, the number of the day for all of you
Sesame Street fans is $121 billion. That according to the new study was
the total cost of traffic congestion in America in 2011, the last year for
which it was measured. It works out to $818 per commuter.
So which city has the slowest of the slow jams? According to INRIX, a
traffic information group, the winner or loser is Los Angeles. Based on
INRIX`s measure, Los Angeles led the nation or trailed it with a traffic
index of 28.8. That means it takes 28.8 percent more time to make a trip
during peak hours in L.A. than when there is no traffic.
Last year`s title holder was Honolulu. It finished second this time.
San Francisco, Austin, and New York City round up the top five.
And last year, Susie, the average American wasted 38 hours sitting in
traffic. That`s a workweek!
GHARIB: I was going to say, yes, that`s a couple of day.
MATHISEN: One of the cities that cropped on this list was Bridgeport,
Connecticut. I would never have guessed it was in the top 10.
GHARIB: I would have said Washington, D.C., the Beltway traffic --
MATHISEN: It was I think number six, Washington, D.C., and it`s
gotten worse in Washington, D.C., my hometown.
GHARIB: That`s it for NIGHTLY BUSINESS REPORT for tonight. I`m Susie
Gharib. Thanks so much for joining us.
MATHISEN: And I`m Tyler Mathisen. That`s it for me as well. Have a
great evening, everybody. And we hope to see you back here tomorrow night.
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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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.
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