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Nightly Business Report - Tuesday July 16 2013

Nightly Business Report - Tuesday July 16 2013

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Tonight on Nightly Business Report, from rising home prices to bidding wars – while that may sound like the perfect recipe for a housing bubble, NBR will tell you why that may not be the case.

And, which businesses win and which lose as the worst heat wave of the summer grips the northeast.
Tonight on Nightly Business Report, from rising home prices to bidding wars – while that may sound like the perfect recipe for a housing bubble, NBR will tell you why that may not be the case.

And, which businesses win and which lose as the worst heat wave of the summer grips the northeast.

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Published by: Nightly Business Report by CNBC on Jul 17, 2013
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<Show: NIGHTLY BUSINESS REPORT><Date: July 16, 2013><Time: 18:30:00><Tran: 071601cb.118><Type: SHOW><Head: NIGHTLY BUSINESS REPORT for July 16, 2013, PBS><Sect: News; Domestic><Byline: Susie Gharib, Bill Griffeth, Seema Mody, Diana Olick, Julia Boorstin, CourtneyReagan><Guest: Matthew Dodds><Spec: Yahoo (NASDAQ:YHOO); Business; Internet; Stock Markets; Housing; Economy;Environment; Food and Beverages; Products><Time: 18:30:00>ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen andSusie Gharib, brought to you by --(COMMERCIAL AD)SUSIE GHARIB, NIGHTLY BUSINESS REPORT ANCHOR: Nothing to shout about.Why Yahoo`s earning outlook may give investors reason for concern.
 
BILL GRIFFETH, NIGHTLY BUSINESS REPORT ANCHOR: Rising home prices.Falling inventory, bidding wars -- sound like a housing bubble? We`ll tellyou why that may not be the case.GHARIB: And the business of hot. Who wins and who loses as the worstheat wave of the summer grips the Northeast.We have all that and more tonight on NIGHTLY BUSINESS REPORT for Tuesday, July 16th.GRIFFETH: Good evening, everybody. I`m Bill Griffeth, in for Tyler Mathisen, along with Susie Gharib.There may not be a lot of celebrating at Yahoo (NASDAQ:YHOO) thisevening. It is the one anniversary of Marissa Mayer taking over the top job at the Internet giant. And after the close, the company posted a beaton second quarter earnings.However, they did miss on revenues. And the big concern turned out to be the warning for the third quarter.Seema Mody has more from the NASDAQ tonight -- Seema.SEEMA MODY, NIGHTLY BUSINESS REPORT CORRESPONDENT: Bill, well,Yahoo`s second quarter revenue came in short of expectations at $1.07
 
 billion, and that`s primarily due to a drop in its display advertisingrevenue. Yahoo`s earning, though, up 35 cents a share beat streetexpectations by 5 cents. Yahoo`s third quarter outlook disappointed thestreet. That`s when we saw shares move to the downside after-hours.BGC Partners (NASDAQ:BGCP) analyst Colin Gillis telling me that Yahoo(NASDAQ:YHOO) is still facing challenges as its core business and search isstruggling. Now, a couple of points made on Yahoo`s conference call. On theTumblr acquisition, Yahoo (NASDAQ:YHOO) says the combination of Tumblr andYahoo (NASDAQ:YHOO) is expected to grow Yahoo`s audience to more than 1 billion monthly visitors. Marissa Mayer says, I`m, quote, "encouraged byYahoo`s performance in the second quarter. Our business saw continuedstability and we launched more products than before."Shares of Yahoo (NASDAQ:YHOO) are down after-hours. However, Yahoo(NASDAQ:YHOO) has gained roughly 70 percent since Marissa Mayer took the job as CEO of Yahoo (NASDAQ:YHOO) one year back.Bill, back to you.GRIFFETH: All right. Seema Mody, thanks very much.GHARIB: On Wall Street today, a mixed bag of earnings pulled down

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