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Stock Market & Financial Investment News

News Breaks
January 10, 2013
10:13 EDTCCI, AMT, MKL, MO, WYNN, TCO, SNCR, R, NWSA, EVR, DAL, CS, CGV, ALKS, ACEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ACE Ltd. (ACE) upgraded to Outperform from Market Perform at Wells Fargo... Alkermes (ALKS) upgraded to Overweight from Equal Weight at Morgan Stanley... CGG Veritas (CGV) upgraded to Neutral from Sell at Citigroup... Credit Suisse (CS) upgraded to Buy from Neutral at Nomura... Delta Air Lines (DAL) upgraded to Buy from Sell at Goldman... Evercore Partners (EVR) upgraded to Buy from Neutral at Goldman... News Corp. (NWSA) upgraded to Outperform from Market Perform at Bernstein... Ryder (R) upgraded to Buy from Neutral at Goldman... Synchronoss (SNCR) upgraded to Outperform from Market Perform at Wells Fargo... Taubman Centers (TCO) upgraded to Overweight from Equal Weight at Evercore... Wynn Resorts (WYNN) upgraded to Buy from Neutral at Lazard Capital... Altria Group (MO) upgraded to Buy from Hold at Stifel Nicolaus... Markel (MKL) upgraded to Neutral from Underperform at Macquarie... American Tower (AMT) upgraded to Overweight from Equal Weight at Evercore... Crown Castle (CCI) upgraded to Overweight from Equal Weight at Evercore.
News For ACE;ALKS;CGV;CS;DAL;EVR;NWSA;R;SNCR;TCO;WYNN;MO;MKL;AMT;CCI From The Last 14 Days
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October 15, 2014
14:10 EDTWYNNPennsylvania reports September gaming revenue down 2.2% to $239.5M
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14:06 EDTWYNNAtlantic City reports September gaming win down 12.8% to $209.4M
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12:46 EDTDALAirline stocks down following report that second ebola patient traveled on plane
The CDC announced earlier that a second health care worker who has been diagnosed with the Ebola virus traveled by air on October 13, a day before she reported symptoms. The CDC is reaching out to passengers who flew on Frontier Airlines flight 1143 Cleveland to Dallas/Fort Worth due to the proximity in time between the evening flight and first report of illness the following morning. Publicly traded companies in the space are trading lower following the report, including American Airlines (AAL) down 3.65% to $30.35, Delta Air Lines (DAL) down 4.39% to $31.37, JetBlue (JBLU) down 2.69% to $9.95, Southwest (LUV) down 2.5% to $29.24, and United Continental (UAL) down 5.5% to $40.66. Reference Link
06:05 EDTACEACE Limited creates new distribution unit in Asia Pacific
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06:00 EDTACEACE Limited creates new distribution, client management unit in Asia Pacific
ACE Group announced the creation of a new unit to focus solely on the execution of distribution strategies across the Asia Pacific region. Enabling a high-level and efficient conduit between ACE and its distribution partners throughout the vast territory stretching from South Korea to Australia and New Zealand, this unit will focus on maximizing ACE’s product offering including portfolio-based solutions, facilities, joint product design and execution initiatives with key brokers in the region. Additionally, the unit will serve the unique needs of ACE’s large clients domiciled in Asia Pacific with the ultimate mission to ensure efficient trading across all commercial lines of business; providing distribution partners and clients with relevant and timely products backed by the strength of ACE’s balance sheet.
October 14, 2014
11:49 EDTDALStocks with call strike movement; TWTR DAL
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10:01 EDTWYNNOn The Fly: Analyst Downgrade Summary
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09:45 EDTCCICorvex letter to be well received by Crown Castle holders, says Wells Fargo
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08:46 EDTCCICrown Castle confirms receipt of shareholder letter
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08:32 EDTDALDelta Air Lines volatility increases into Q3 and revenue growth concerns
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08:13 EDTCCICorvex says Crown Castle, Verizon deal would 'diversify' revenues
Corvex said, "A Verizon (VZ) tower deal would diversify Crown Castle's (CCI) revenues and deepen the company's relationship with arguably the U.S.'s strongest wireless company and operator of the country's most robust network. As the largest and most-focused U.S. tower operator and the largest operator of legacy carrier portfolios, Crown Castle could be the best strategic acquirer of Verizon's tower assets. That does not mean the company will be best positioned financially to provide the highest and best bid though. Based on recent press articles, the potential sale price for the Verizon towers could be approximately $6B. However, we strongly believe that the company should not issue any equity at recent prices, and certainly not to acquire more tower assets at premium prices when Crown Castle continues to trade at a material discount to both transaction multiples and publicly traded peers."
08:11 EDTCCICorvex sees Crown Castle to trade closer to 3.5% dividend yield over time
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08:10 EDTCCICorvex says Crown Castle has 'exceptional growth opportunities' ahead
Corvex said, "We are optimistic that many of you share our view that Crown Castle (CCI) is a great business with exceptional growth opportunities in the years ahead. However, we also believe many of you share our frustration over the company's stock price underperformance relative to peers and the market over the last eighteen months, and the company's persistent market discount relative to its peers and its own intrinsic value. We believe Crown Castle shares some of these same frustrations, and we commend management for soliciting input from its shareholders on this issue as well as the company's activities generally. We recently met with management at Crown Castle's headquarters in Houston and have had several follow-up conversations, continuing the productive dialogue we have had with the company for several years. Given the recent published speculation of a potential Verizon (VZ) towers transaction, we felt compelled to reach out publicly to fellow shareholders at this time as well, to further stimulate the capital allocation discussion which has intensified among investors and analysts in recent weeks. We firmly believe Crown Castle's valuation can be improved dramatically and sustainably through a change in the company's capital allocation plan, reducing Crown Castle's cost of capital and enhancing its ability to continue to grow and compound shareholder value over the long term. Based on our analysis, we see a near-term opportunity for Crown Castle to drive a 27% re-rating in its equity, and the potential for over 60% upside in 15 months. Once the company's equity currency has strengthened, Crown Castle can aggressively pursue a Verizon towers transaction, creating even greater long-term value for shareholders. However, if the company does not have the right cost of capital, it should not be pursuing acquisitions or issuing equity, whether for Verizon's towers or any other transaction. We make our case to shareholders and the company below, as well as in the attached presentation. Our analysis suggests a change in capital allocation could result in Crown Castle's stock trading for in excess of $100.00 per share within a short time frame, and compounding further from there. Based on recent public commentary by management, we think Crown Castle may be considering the same actions we suggest."
08:07 EDTCCICorvex sends letter to Crown Castle regarding capital allocation
Corvex Management released a letter to Crown Castle shareholders outlining a proposal to improve the company's capital allocation strategy to strengthen Crown Castle's valuation, reduce its cost of capital, and enhance the company's ability to continue to grow and compound shareholder value. The company said, "Given the increased public debate around Crown Castle's capital allocation policy as well as the potential for a Verizon towers transaction in the near future, we feel compelled to share our views publicly. We believe Crown Castle's valuation can be improved dramatically and sustainably by changing its capital allocation plan, expanding the company's investor base and closing its discount to peers and intrinsic value. We commend management for soliciting input from us and our fellow shareholders regularly, and we look forward to working together to create value for all Crown Castle shareholders."
08:07 EDTWYNNWynn Resorts downgraded at BofA/Merrill
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07:15 EDTALKSBiotech Industry Organization to hold a summit
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06:38 EDTWYNNWynn Resorts downgraded to Neutral from Buy at BofA/Merrill
Price target lowered to $195 from $210.
October 13, 2014
15:12 EDTDALDelta Air Lines volatility increases as shares trend lower
Delta Air Lines October call option implied volatility is at 94, November is at 68, December is at 51; compared to its 26-week average of 38 according to Track Data, suggesting large near term price movement.
11:20 EDTDALStocks with call strike movement; FSLR DAL
First Solar (FSLR) January 65 call option implied volatility increased 4% to 54, Delta Air Lines (DAL) January 36 call option implied volatility increased 8% to 47 according to IVolatility.
06:56 EDTEVRBlackstone spin off could spur more deals, Reuters columnist says
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