this is nightly business report with tyler mathisen and sue herera. >> landmark ruling. the highest court in the land keeps the president's controvel affordable care act in tact. just crush it nike reports a blowout quarter. will the dow component and the largest footwear maker set the tone for trading tomorrow? deal. greek talks breakdown without an agreement, as the deadline to get some all that and more for "nightly business report." >> good evening and welcome, the supreme co hands a big win to president obama and a cutting deneat to opponents of his signatur health care law. the justices upheld a key

provision of th affordable care act. subsidies that millions u for coverage allowing the largest govt sponsored health insurance expansion in decades to remain in tact. federal subsidies are legal under the law. and with that ruling shares of hospital stocks took off. hca, tenet, community health and universal health services all gained at least 7%. with some rising double-digits and hitting all time highs. the same was true for insurers which sa hampton pearson has more on the ruling by one of the justices an >> aca is here to stay. >> jubilant supporters of the affordab

it's the second time president obama has won a constitutional challeng to his most significan domestic achievement. today after more than 50 votes in congress to repeal or weaken this law. after a presidential election based in part on preserving or repealing this law. after multiple challenges to this law before the supreme court, the affordable care act is here to stay. >> in a 6-3 ruling the justices said the subsidies that more than 8 million americans now receive to make health insurance more affordable do not depend on where they live. >> opponents argued a strict reading of the law said those subsidies should only be available through state run exchanges. chief justice john roberts speaking for the court majority disagreed. the credits are necessary for the federal exchanges to function like their state exchange counterpart. and to avoid the type ka lamb to us results that congressmen the to avoids.

justices antonin and scalia it makes tax credits available everywhere. we should start calling this law scotus car on capitol hill house speaker john boehn said republicans winu >> it's raising costs for american families small businesses and it's just fundameny broken. >> in the fine years since the affordab care act became law, more than 10 million people signed up for health insurance, more than 6 million in 34 states will keep their subsidies. still to come, in the remaining days of this term of the supreme court. a possible landmark decision on same sex marriage. hampton pearson, nightly business report at the supreme court. as we reported humana and

aetna shares moved higher following t supreme cou decision. shares of humana jumped even further midafternoon on a bloomberg repor that aetna is close to buying it according to that report, a deal could be signed as early as this weekend. humana has received an offer from cigna, but the board prefers the aetna offer. >> c.c. conley joins us now toe about today's supreme t decision and what it will mean overall for the industry. c.c. welcome, good to see you. >> nice to see you. >> if investors interest in health care stocks were any gauge, this was a good ruling for hospital companies and insurers. you agree? >> yes, absolutely. certain the is so critically impo to businesses. but even more so we did some calc if those subsidies had been overturned by the court today

next year alone, health insuranc companies would have lost $36 billion in premium revenue. hospitals would have lost about $9 billion in consumer health ca spending. there were real financial implicatio to this. >> what about for employers. employers now have more sure footing on this particulart are the ramifications for them? >> for many employers, the affordab care act has offered one additional option. if they want to direct their employee to tho exchanges that we've been talking about today. but still 150 million americans are still in that employer based health insurance market. so the aca has not had a major impact on them employers are facing some additional fees and, of course, in 2018 were bracing for a cadillac tax on high priced plans. that's somethi that's worrying many employers. one of the things that

worries households is the rising cost of health care insurance and the premium increases that many of them expect to face or have alr faced when they buy that insurance on those health ca exchange. the health insurance exchanges. what do you forecast for the rise in premiums over the next couple years on those exchanges? >> the pricing on the exchanges and the increases in the first few years has tracked very closely to the rest of our health insurance market. so nobody should be pleased with their health insurance costs these days. they still exceed gdp which is just too h unsustaina that's not unique to the exchanges. seeing that for all insurance across the board, average increases somewhere between 4 and 6%. >> this is basically a new health ce economy. do you anticipat there will be new entrance into this

particul sector of the economy? >> yes, absolutely. and keep your eye on these new entrance. th nontraditional players, many of them are start-ups that are getting vc funding right now, also we're seeing players from the retail sector and from technolo that are moving into health care it's a $2.9 trillion sector and growing. they see a lot of opportun woo away cus that are cost conscious and they're looking for much greater convenience than they've gotten so far. >> final question it's a quick one. consolidatn in quick players in health insurance, you expect that to continue? >> we do expect health care consolidn to continue. businesses are looking for economies of scale, and a much bigger ftp >> thank you very much. the supreme court upheld a housing discrimination need not be

intentional to be illegal. it's a blow to lenders and insurers it upholds a legal strategy that civil rights groups and the federal used for decades to fight lending and zoning laws. >> the rally in health care stocks was not enough to lift the broader market. stocks cleared near their lows as concerns of resolution to greece's debt crisis weighed. the dow jones dropped 75 points finished at 17,890. the nasdaq gave up 10 points and the s&p 500 lost 6. >> late day earnings from nike which saw profits rise by 24%. the world's largest footwear maker reported earnings of 98 cents per share. revenues were also better than expected coming in at 7.78 billion, up more than 4 1/2% from a year ago. the report sent shares initially higher to an all time high after

the closing bell. the one key takeaway from nike's earnings. >> another solid quarter for nike. th futures, what nike sees ahead around the globe. those orders came in 13%. strong and above analysts estimate of 11%. nike gets more than half of its business overseas. the strong dollar hurts, if you add in those effects, futures orders were oath up 2%. looking by geography, nike is seeing the most growth in china. after that, eastern oureurope and japan. the one weak spot for nike right now is emerging markets where economies hav slowed. the bottom line this company continue to innovate and leverage a very strong brand around the world, helping drive what has been profitability this

quarter and in the past. nike's beaten earnings estimates 90% of the time over the last five years. for nightly business report i'm sarah eisen. more on greece now with the meeting of finance ministers ended today without an agreement on greece's debt and with just days until the deadline the pressure is mounting. more from brussels where the high lev >> another day passes here in brussels. and still no deal. the president of the urogroup said the door remains open. >> they're going to look at the last proposals, as i said. if anything of that is usual, we will use it of course. we are very on a number of issues quite far apart. it's going to -- >> the hopes that the greek will come up with fresh proposals. the greek fund selects.

he suggested there were other people around the table that also disagreed with what the creditors are dion madding of the greeks. that doesn't necessarily sound like a man who's willing to compromi at this stage, pa pressures the governmt faces back home in greece. remember this is another day toward the imf payment that's due on tuesday of next week at the end of june. we did get a warning from the imf today, the would be no leeway for the greeks on that payment, it would be consider a default. even if there were talks on going to try to reach a solution. there also was a bright spot the suggestio that they would not pay greece the money they owe them if the eurozone leaders don't agree to have debt relief in the future that could be music to alexei's ears and a way to sell this deal back home. for now, a deal is what we're still waiting for. these talks will continue. for nightly business report julia chassley in brussels.

>> greece is just one issue e global financial markets are paying close attention to. there are a number of others as well. including the health of earnings and as carl icahn pointed out yesterday, a potentially overheated market. more on what investors need to watch over the next couple months. there's a slew of bigger picture concerns that investors are paying close attention to as we hit the heart of the summer season. on of the biggest concerns comes from across the atlantic in europe. will greece be able to meet its debt obligations and will it stay in the european union? >> something does happen with greece and they do fall out of the eurozone if you hurt sentiment, whether it's business sentiment or consumer sentiment, that's not good for business. >> our nation's central bank continues to be a source of worry. the fed won't be ratcheting up interest rates in a rapid manner

but uncertainty remains. if they only do a minor increase later this year there's a lot of anxiety about whether the global economy can handle that after having interest rates near zero for so long. i think it continues to hang over the market. >> there's the upcoming earnings season. companies have been able to keep profit growth alive, will the trend continue? many of them took a hit, because u.s. dollars have been very strong versus other currencies around the world. that eats into foreign profits that later have to be converted to u.s. dollars. the dollar is another wild card in the market. because key one profits were signific impacted by the dollar's strength. we've had some dollar weakness here in q 2. i think the impact is going st dissipated. it still is a head wind for many of the companies, especially the larger names in the s&p 500. >> those are just a handful of the concerns that are facing investors.

the reason why many are trying to plan for recent market volatility in weeks ahead. night busines report i'm dominick chew. >> the battle to build the next generation bomber is heating up. there's 55 billion at stake. some of america's biggest ♪ the house of representatives voted to renew assistance for american workers hurt by trade. the aid program would have expired f the senate already passed the worker aid bill which now goes to the president for him to sign. > consumers are loosening the

grip on their wallets, persona which measures spending on everything from autos to health care rose at its fastest pace in six years, up a% from may a month earlier, that's according to the commerce department. this report is another sign that the economy is rebounding from a tough winter. personal income also increased point 5% last month. >> the labor market remains healthy. filings for unemployment benefits held below 300,000 for the 16th consecutive week. jobless claims increased modestly last week. and now to the oil markets, where crude prices fell for a second straight day. there's a new report that shows opec's risky strategy of not cutting produn when prices were tumbling may have backfired. oil prices have been hovering around 60 dollars the last month.

opec's strategy to maintain producti in a relatively low priced envir is working. nathaniel bolton however, the cartel reported that for 2014 it's market share dropped, to the lowest in a decade. a seemingly simple fact but is making market participants believe opec's strategy isn't a strategy at all, it's actually the group's only option. >> this is opec's waterloo moment. e onl thing i can see is cut get the prices up and worry about market share later. a perceived boone for u.s. shale. producers are not being squeezed. productn ramped to over 9.6 billion barrels a day. it appears there's a sea change occurring. opec once known to be the global swd be relinquig tha title to shale. >> how are the shale players going to manage this.

>> shale has 2,000 wells that are sitting at the point of completion. prices rally to 60, 65 dollars, those are coming online within a matter of weeks. you'll see this roller coaster of prices begin to happen again. >> everything cou change after the summer. driving demand wanes. for nightly business report i'm jackie deangelis. >> we begin tonight's market focus with another disappointing quarter from barnes and noble, demand for the retailer's nook tablets continue to fall. customers sta away from its stores. it's loss was narrower than expected. barnes and noble disclosing a manageme shift today. michael huckabee will leave his post and become executive chairman of the book store group a round of job cuts in the meantime at general mills, the food company expects to

eliminate up to 65 positions abroad and invest more in innovation this as the firm adapts to changing consumer tastes and economic challenges across the board. shares off a fraction to 56.49. >> kroger hiking its dividend and buyi half billion dollars worth of its stock. this as the grocery chain has reported stronger result quarters. the dividend going to be paid to shareholders in september. shares were up just a little bit there, a penny, 72.95 was the close. winnebago out with earnings. as the motor homemaker shipped more vehicles. the firm attributes the increase to americans spending more on big ticket items and on the improving economy. shares popped 9% to 22.57. >> mcdonald's is selling stores in taiwan in an effort to expand

its franchise business in china. the company tries to turn around its fortunes in asia and cut its costs. the chief of the burger chain says they're trying to bring back thel recently for example, we made an announcement that we're going to withdraw the use of optics out of the chicken supply chain. the customers recognize and they're grateful they can have aspirati quality. they can bias pirational quality. shares slipped just a fraction to 95.79. trans union making its wall stre debut today. they raised about $665 million in its trading debut. shares are priced at about $22.50 a piece. that was the high end of the range. stock closed at 25.40, a gain of 13%. micron reports earnings and revenue after the estimates. the chipmaker blaming the miss on the personal computer sector.

shares slid after the close. the stock was off a fraction to 24.02. the animal health companies was halted late in the day, after it was approached by valiant pharmaceuticals about a takeover. had a market cap of $25 billion before the report of that approach shares shot up 11% on that report. valiant also rising into the close. > tax drivers took to the streets across france to protest the expansion of the ride hailing service uber. taxi drivers burned tires, blocked traffic as part of a nationwide strike which turned chaotic in some areas. the drivers say uber's lower cost service is taking away which company will build the next generation bomber? the air force is expected to make a decision this summer. for companies like boeing, lonorthrop there's $55 billion on the line. jane wells has more.

>> the next defense contract will be the bomb, well, real. a cost of $2 billion per aircraft. w the air force wants a new bomber at a quarter of the pr >> northrop is competing for the deal. total value of the contract could reach $70 billion. as the b-2 ages along with older b-1s and b-52s, it's anyone's guess who will win the secretive contract. northrop has expertise in building bombers, boeing knows how to build a lot of aircrafts. since this will be the last big contract for a manned combat aircraft for 20 years, whoever loses may have to get out of that business. in fact some analysts wonder if northrop wins will boeing's incoming ceo be under pressure to buy his rival. lockheed is okay either way, as

it has the massive f-35 contract. california and florida are offering hundreds of millions of dollars in tax credits, hoping to land those manufacturing jobs but they may have to wait a while, there's always the possibil that when the contract is announced later this summer who loses will protest that decision because so muc is on the line. for nightly business report jane wells, los angeles. coming up will the companies that help people find love find love themselve ♪ an update on the taylor swift apple exchange we told you about earlier this week the artist deciding today to let

apple music stream her 1989 album, making it the only service allowed to do so. this after miss swift wrote a public letter to the company about its policy not to pay artists during the trial period. apple surprisingly changed the policy only a few hou >> interactive group found some ors today, shares rose 5% after the company said it would spin off its online dating group called the match group. julia bore ston has more on this multibilli dolla industry. >> barry diller is planning an ipo for iac's match group in the fourth quarter, giving investors the opportunity to bet on the biggest portfolio of digital dating company. >> in a match group, we have dozens of dating services. that go from very narrow niches to extremely broad niches. match.com is the broadest.

they all probably eat off of each other, but the thing is people tend to use multiple services. match is the largest service in the portfolio, with million subscribers, and more than 850 million in revenue last year. tender is just starting to make money from the 16,000 swipes the app has every second. it recently announced a premium version. >> this is a quick silver to get you over the hump of being bold. that's >> the group owns freemium and how about we. >> the dating business which comprises of 30% of iac's first quarter revenue, helped drive shares up 80% so far this year. >> benefiting from the explosion of mobil devices so people can use dating services con stan thely. and network effects. mean the more people who use the services the more valuable they become. investors like the company offers a range of products.

>> you can find long lasting love you can find something to do tonight and everything in the middle. >> it's a crowded space with giants including e harmony and hinge and coffee meets bagel. digital daters can be fickle. we can always expect another hot start-up to steal attention from other apps. online dating is a rare business that loses customers when it's successful. for nightly business report juliaa borstyn, los angeles. which state ranks higr top states for business. now we have a list of the wor kbluing including things like cost of living and quality of life. first, rhode island west virg and the worst state for business hawaii. it may be difficult to conjure

up sympathy for a state known for hula dancers. they have the worst infrastruc in the nation. >> now we're going to get le >>. that does it for nightly business report tonight. have a great evening, everybody, hope to se

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