this is "nightly busine" with tyler mathisen and sue herrera. emergen funding, the european central bank extends a financial lifeline to greece taking pressure off the banks for now. >> heavy-duty changes. the government moves to slash trk emi but at what cost to the market industry. market monitor, why our guest is making a big bet on small caps in what some consider one of the risky sectors. that and more tonight on "nightly" for friday june 19th. >> good evening, everyone and welcome. a triple digit decline tek we'll have more on that in a moment but we begin tonight with a critical weekend for one of the biggest concerns greece. the european central bank increasey lending to

that country's banks. the move came on reports that a growing number of favors in greece began withdrawing deposit over a debt agreement drags on and could come to a head when there is an emergency meeting. michelle has more than athens. >> greece remains at an impasse for a deal that would unlock 7 billion eroses worth of bailout money. in the meantime as those negotiat stall, the banks are under intense pressure. reuterss reports yesterday and e than 2 billion eroses have been withdrawn from the greece bank. the european central bank had to step in for the second time this week and give more liquidity to the bank that means that greeks will still be able to withdraw cash from atms over the weekend and through monday as well but there will be another decision from the ecb whether or not they

will continue supplying cash to the system because they too, are waiting to see a deal. if no deal gets done if greece ultimate leaves the eros the european central bank would be on the hook for more than 100 billioeroses so they are in a difficult situation. are waiting for monday night where the european leaders get together to discuss what can be done if anything. the president of the group calling for that superinten meeting is about coming one a solution. he said monday's meeting is about everyon being clear they understand the consequences of their decisions. the game of chicken needs to end, and so does the blame game because the this is not a game and there is no tim game time is running out because we're 11 days away from june 30th. that's the day greece has to repay the international monitory

fund the imf more than 1.5 billion eroses. they say they will not pay back unless the is a deal. as a result there are legal implicat the that would force the ecb to cut off the banks. it's becoming a critical time for greece and monday could be pivotal. "nightly businereport", michelle cabrera. meantime the greek prime minister addressed a forum hosted by president putin who had a lot to say about the state of russia's economy. more putetersburgpetersburg. there were a couple key messages presi putin wanted to put across in this speech one is the russians finding other ways of working around the sanctions with things like substitution and the other message was this is an

economy where you still come and do business. la russia is open for the world. we are open for economic scientif and human interaction and the civil representative and businesses from all over the world. in spite of theg crisis involving greek debt negotiatio prime minister alexis used the stage to remind why the organization was setup in the fir place. >> transla european union should go back to its initial principl of solidarity justice and social justice issuing economic measures will lead us nowhere. the so-called problem of greece is not just greece problem, it is the problem of the whole european union. >> apart from those comments

about the eu working togeth was short on criticism and said little that might jeopardize deal for the greeks. president putin said little also but might be perceived as rattling and a response to the current escalation of sanctions. th is jeff cutmore for "nightly b wall street the dow posting a triple digit loss amid concerns about greece. the dow jones average fell almost 1 close at 18,015 and s&p 500 shed 11. all three averages were higher with the s&p nas anddaq tu a rate hike will likely

happen but tops see to see stronger signs. the first official to speak publicly this week says he's in wait and see mode. >> with the economy reaching full strength we should start seeing signs underlying inflatn trends are coming back up. so far, that's just a forecast it's not a reality. in that regard the recent inflation readings to my mind are just okay. okay a very technical term but i have yet to see convincing signs that the underlying trend in inflation bottomed out and poised to move back to the 2% goal. seeing solid improvement in the labor market as wage growth starts to rise. > a big day for ipos is setting up a bigger week ahead. investors snatched up sharing of brazilian stake house chain fogo de dchao. he says the success can be

attributee formula. a big day for the company, and i think it just shows that when you bring out a unique differen concept when you perfect it when you take it to different markets and the public responds you know the result is what we're seeing today. so we're excited. >> body got off to a disappointing start. that company that ma softw for wellness firms, spas and beaus fell. the ceo is not worried. not getting distracted by the noise of the stock market. ou focus now is continuing to grow the business around the world. we the leading platform for the health and wellness services d happy where business is going and a great time to go public. by the close, s of fogo de chao soared and mind and

body off. tomorrow promises to be a big one. more from the new york stock exchange. t ipo market is finally starting to get going. next week will be the biggest week of the year roughly 14 companiee slated to go public and will likely raise north of $2 billion. why is the market finally starting to heat up? le most important factor is positive returns with th overall market healthy, ipos have done well. the renaissance capital ito set as basket of 60 recent ipos is approach the april historic high. others are pushing to go public now before the fed raises rates and market volatility increases. what is impressive about next week's crop of ipos is the breathe of th offering. there is severyo a giant credit analysis company with a $650 million offerin

transunion and plastic processing equipment, i can't remember the last time i saw an ipo for a company in the capital equipment sup place the are three cloud and four health care firms including biotech and three energy-rel companies. a cole company and also on the docket in the coming weeks is sun guard and accounting and software firm and blue b are the largest maker of all natural dog and cat food.h about the pet food but $1 billion in sales. they filed nine days ago and have a shot going public in the next few weeks. for "nightly businessreport", i'm bob at the new york stock exchange. > he was on in march and picks pure fun, cybersecurity up 20%,

how about that? jd.com gained 15% and calavo growers is 6% higher. chief investment officer at global financial private bank, chris, i want you to repeat that perf promise me you can do that. let's start, though by the way, welcome, first of all. let's start by the way with what you'll be watching in the markets next week. i assume it will be greece. the sooner we can stop talng about it as far as i'm concerned, the better but we must thing about it. >> obviously. if russia came with a bunch of cash, it would be good for the bears and the bulls will love it if they have a deal they can push further down the road. my view is that if the bears come you want to buy europe maybe a week or two after the bad news is out. >> what would you do domestical chris? let's go through stock picks you have. alps medical, you did so well with your previous picks, why do you like this one? >> well i think it's certainly in a hot area the biotech area.

the biggest problemr goes out, how do they know which is right? do you go by seattle genetics or blue burg bio or whatever and come to phase three and fail and whoops you lose your money. this spreads it out evenly and that's the advantage of etf and in such a hit or miss type of a situation, but it's a hot area and i think that they have lots of emerging names and it's a great way to play it. you don't get burned if one fails and you get good upside if this whole area moves forward. >> your second pick is perk and elmer, an old line company, i think of it as biotech for chicken. excellent, yes. there is no question. they are a tool maker. they are trying to improve the efficien of biotech companies. although they are tied to the industry they don't have the volatility and variability that goes with it, and certainly

their human area is on fire because everybody wants start biotech and derive from it from their tools, processes tha work. >> let's go on to your last pick which is astek industries. what exactly do they do and why do you like them? >> absolutely. i like the bet. when you see both sides of the isle talk positively you have to perk your ears up. they all want to have infrastr and even the long islay will get potholes filled if they vote for what that company does, cements and really big for ports and rail yards and particularly for roads. so i think y going to see that particularly with an election next year that the there will be a big push towards using what this company produces. as we get into july earnings

begin. what are you looking for there, quickly, chris? >> i think we're going to see for the first time some stumbles. i don't know whether everything is going to be like oracle but i think you'll see the potential for a correctio where the bubble boys and weak hands get flushed out and again will be an opportunit to buy. >> the bubble boys and weak hands, have a happy father's day. thank you, tyler. d still ahead, crack down the tough new rules the epa is proposing repealing the affordable care act would cost the billi dollars.

that accore l budget office a new report today found that repealing the president's health ca law would increase deficits by more than $350 billion over ten years. but the report also showed that the number would be much less if economic g larger we par rate are concerned. unemployment rates rose in half of all states last month. the labor department says the rates were driven higher by people looking for work who didn't immediately find jobs. rates fell in nine states and in washington d.c. they were unchanged in 16. nebraska has the lowest unemployme rate at 2.6% west virginia highest at 7.2%. federal regulators unveiled new prope standards for big trucks today. the goal in lower fuel cost by the next decade but some

industry officials are concerned. morgan brennan has our story. >> tougher mileage standards for trucks. in t latest move to curve carbon p from the national highway traffic safety administ will apply to semi trucks buses and large fans. manufactur from 2021 to 2027. they make up less than 5% of cars but account for 10% of cami could reduce greenhouse gases and save 1 of oil and cut fuel cost by $170 billion over the lifetime of the trucks. the guidel fu trucks 40% more fuel efficien than those on the road. the changes may be expensive to implemen but long-term should be offset by fuel savings. t tickapproach and the

truck is more efficient over time. that's much more sane way to approach the rules as opposed to simply making it solely the responsi of the trailer or solely the responsibility of the truck or engine. >> response was mixed. some engin say it will take new technology and will cost 10 to $12,000 per truck. the trucking industry group said it supports the aims of the standard so the key will be timing. to make sure the changes can be safely implemented. so which companies will best be able to meet the new guidelines? companies that are willing to keep a new fleet, have a balance sheet to buy trucks and take advantage of more efficient designs as they come about. so companies like ente knight transpor covenant transpor or swift chance

transporta for "nightly busine report", i'm morgan brennan. shares of kb homes sprang on an earnings beat and that's where we begin market focus. an increase in demand helped top estimates on the top and bottom lines. the of homes the company delivered climbed and thee advanced. shares rose 9.5% to 16.37. sales growth in china did east mitt herb she car max disappointed y reported slightly than weaker sales growth. this is used car sales slowed while new car sales continue to surge. the stock was off nearly 4% to $69.27. increasing so it can legally lyally

challengee ye mylan and continued with it's hostile bid. it fell to $60 a share. mylan was off by 1% to 71.6$71.62. china rejected gilliad, the drug has become controversial and cost $1,000 a pill. shares were off $1.41 to $119.80 and post holdings lowered estimates of the impact of the bird flu outbreak on its egg supply. follows a round of testing of its chicken flock. shares were almost 5% higher post day to $52.03. tiger woods has been in the rough and it's been rough. today at the u.s. open he finished 16 over par.

this after a shot unheard of 85 two weeks ago leaving many to wonder wheth his professional career is over. so if tiger can't be a winner on the course is his business a loser? to discuss that is dean crutch field, the brand expert with his firm dean crutch field associates. to see you, dean. >> nice to be back. >> i guess that is the question if he's not doing well on t course which he certainly is not doing right now, how is that going to impact his businessw debttriml is it to him? >> it is detrimental to his franchis one of the greatest names across millions of homes from the to asia. he is iconic with success. if he's not winning and playing poorly as he certainly did yesterday when he shot an 80, it w mess and 85 two

week want to use his clubs, gear golf balls? >> i think poor performance today doesn't determine poor performa tomorro but it's a game of sports sometimes you're on and sometimes you're off and seems to be a growing trend which would b a concern for some of the major sponsors that want to see tiger woods on best performanc and so do his fans and customers of his products. nonetheles we have to recognize the accomplishment that he's made in his career. yo know, he is the and he still is that name and got ped stole and hard to take away. perhaps he's lost integrity because of previous situations but you say his credibility remains untouched. i think so. if you loo et cetera, pe no integrity or credibility or at least raised questions on the sport. this is not the case of tiger woods. he has that credibility. he owns that credibility.

it's hard to take it away this performae vineer. >> do you think he'll remain a large brand the way arnold s and jack nickelous has? it's obvious ti woods has that equity and gives him the sense he does investments with. i think no one can guarantee anything this is tiger woods we're talking about. he's a titan of sports. so i think the equity put into other businesses as he looks to grow by diversifying his portfolio of investments is something to assure success based on the name he's earned and the years he's lead the sport. dean, we'll leave it there. thank you for joining us again. >> thank you. > coming up all in the family meet three generations from the same family who all started ver

here is what to watch next week, the e gdp, the all inclusive, all eyes all eyes on greece as an emergency held monday to discuss the deteriorating situation and lots of housing data lots lots, lots, existing and new home sales, next week. born to be a businessman, some say there is an

entreprene gene you have or don't. ahead of father's day weekend, kate rogers talked to three generations of entrepreneurs in e same family about three very different businesses they started. i don't know. >> 91-year-old victor is talking about running his own business and with his family's track record he may be on to somethint entrepreneur dna. in 1956 victor and his r d launched counter parts making women skirts and eventually panels keep up with the changing times. it grew into a $100 million business and selling across the country in major retailers like macy's. we had the best pants in the business. buyers crying when they couldn't get deliveries. must be good pants, huh? >> yeah. so paul did you grow up watching your father as an entreprene my d put me to work right

away and wanted me to see what it was like to actually you know earn a paycheck be your own boss, but learn from the bottom up. >> from there, paul went on to open his own company, laser park a 12,000 square foot gaming facility in times square in the 1990s. for a decade they hosted birthday parties and laser tag drawing celebrities fro j fox to brad pitt. >> we were voted the number one place for children's birthday parties in the first year. >> counter parts eventually folded in 1990 due to increased competit overseas and laser tag closed after a ten-year run becaus of a shift to online gaming but the entrepreneur speak co a crack at being his boss. he launched his startup, your neighbor in 2012. it's a yelp style platform that provides real estate for new

york c burr owes. do you think it's in your genes? >> sure based on my father and grandfatr havin their business i thought based on i guess the family track record i would have a good chance of doing it and being able successful victor, what do you think grandson following in your footsteps. he's his own and he's doing his own. as far as i'm concerned. "nightly busine report i'm kate rogers. >> and we end tonight' on a somber night. ralph roberts the founder of comcast died at 95. roberts founded comcast when he bought a small cable system in mississii in 1963 and knee the company into what is today the nation's largest video, high speed internet and phone provider. t is the parent company of cnbc. his son brian serves as comcast chairman and ceo. a family affair there, as well.

humble man, a quiet one. >> generous and he'll be greatly missed. indeed he will. >> that does it for "nightly for tonight. i'm sue herrera. thanks for joining us, have a gaett father's day. >> thank you, sue. good father's day, we'll see you on monday.

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