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Stock Market & Financial Investment News

News Breaks
February 19, 2013
05:55 EDTSODA, SODA, SIX, SIX, OC, OC, NFX, NFX, MGM, MGM, GRMN, GRMN, DTE, DTE, DISH, DISH, DVN, DVN, XRAY, XRAY, AEE, AEECompanies reporting Before the Market Open on Wednesday, February 20
Notable companies reporting before the opening bell on Wednesday include Ameren (AEE), DENTSPLY International (XRAY), Devon Energy (DVN), DISH Network (DISH), DTE Energy (DTE), Garmin (GRMN), MGM Resorts International (MGM), Newfield Exploration (NFX), Owens Corning (OC), Six Flags Entertainment (SIX), and Sodastream (SODA).
News For AEE;XRAY;DVN;DISH;DTE;GRMN;MGM;NFX;OC;SIX;SODA From The Last 14 Days
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June 22, 2015
15:04 EDTDISHT-Mobile could abandon DISH for Comcast, Forbes contributor says
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09:30 EDTOCOwens Corning upgraded to Buy from Neutral at Northcoast
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June 19, 2015
07:38 EDTMGMMacau official says monthly revenue could hit four year low, says Wells Fargo
Wells Fargo reports that a Macau official said that the region's gaming revenue may hit the lowest level in over four years this month. The official said that the region's June gambling revenue could be more than 20% below the average for the first five months of this year, the firm added. Wells says that Macau's gaming industry remains challenged, and it remains neutral on the sector. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN), and Melco Crown (MPEL).
June 18, 2015
08:59 EDTNFXNewfield Exploration upgraded on Anadarko Basin potential at Stifel
As noted earlier, Stifel upgraded Newfield to Buy from Hold. As reasons for the upgrade, the firm cited the company's success in the Anadarko Basin and its belief that the STACK and SCOOP portions of the region could unlock significant value for the company.Target $48.
06:33 EDTNFXNewfield Exploration upgraded to Buy from Hold at Stifel
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June 17, 2015
17:40 EDTDISHComcast 'isn't interested' in T-Mobile, Washington Post says
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10:57 EDTOCCiti says sell Owens Corning after roof pricing bump fails to stick
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10:22 EDTDISHComcast not interested in pursuing T-Mobile, DJ says
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10:13 EDTDISHDeutsche Telekom shopping T-Mobile to Comcast, FT reports
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10:00 EDTDVNOn The Fly: Analyst Downgrade Summary
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07:32 EDTDVNDevon Energy downgraded on weak 2016 outlook at Oppenheimer
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07:26 EDTDISHDeutsche Telekom, Comcast in talks over possible T-Mobile sale, Reuters says
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07:00 EDTOCCiti says sell Owens Corning, cuts target to $36
Following its latest asphalt shingle roofing channel checks, Citi cut its 2015 earnings for Owens Corning to $1.86 from $1.88, its 2016 estimate to $2.38 from $2.83 and 2017 estimate to $2.69 from $3.20. Citi says prices are flat with April as the May asphalt roofing industry selling price increase failed to find its way through the channel. It also notes asphalt input/production prices are moving higher. The firm cut its price target for Owens Corning to $36 from $38 and recommends selling the stock. It keeps a Sell rating on the name.
06:40 EDTDVNDevon Energy downgraded to Perform from Outperform at Oppenheimer
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05:59 EDTMGMStocks with implied volatility movement; MGM CBI
Stocks with implied volatility movement; MGM Resorts (MGM) 35, Chicago Bridge & Iron (CBI) 47 according to iVolatility.
June 16, 2015
16:24 EDTMGMOn The Fly: Top stock stories for Tuesday
Stocks began the day slightly lower but began to move higher shortly after the open. The market began to drift higher before the noon hour as European markets closed in positive territory. Investors are now looking toward and positioning ahead of the week's big event, namely tomorrow's scheduled policy announcement from the Federal Reserve and the associated press conference by Chairwoman Janet Yellen. ECONOMIC EVENTS: In the U.S., housing starts were down 11.1% to a 1.036M rate in May, versus expectations for a decline of 4%. Building permits were up 11.8% to a 1.275M rate, versus expectations for a decline of 3.5% in May. In Europe, the ZEW index of economic sentiment in Germany plunged to 31.5 this month from a reading of 41.9 in May. COMPANY NEWS: Gap (GPS) held its annual investor meeting today, but made its big news last night prior to the meeting by announcing that it will close about 175 of its namesake brand's stores in North America over the next few years. Gap estimated an annualized sales loss of approximately $300M associated with the closures and sees one-time costs primarily associated with these actions to be in the range of approximately $140M-$160M, the company noted. Gap shares advanced 55c, or 1.44%, to $38.75 following the announcement and meeting... Kirk Kerkorian, the founder of MGM Resorts (MGM) and one of the company's largest shareholders, died Monday night, the company confirmed. Kerkorian owned Tracinda Corporation, a private investment firm that disclosed a 16.19% stake in MGM Resorts and stated that its position in the common stock became subject to the terms of Kerkorian's will upon his death. The will instructs the executor of Kerkorianís estate, Anthony Mandekic, to execute an orderly disposition of Tracindaís position in the common stock, the firm stated. MAJOR MOVERS: Among the notable gainers was Coty (COTY), which advanced $5.04, or 19.35%, to $31.09 after The New York Post and Reuters reported that the company had won an auction to buy three Procter & Gamble (PG) beauty businesses valued at $12B. Shares of P&G, meanwhile, added 98c, or 1.25%, to $79.10 following the reports. Also higher were shares of NCR Corp. (NCR), which rose $3.36, or 10.71%, to $34.73 after Reuters reported that private equity firms Blackstone (BX) and Carlyle Group (CG) are planning to jointly bid for the company in a deal that could be worth over $10B, including debt. Among the noteworthy losers was Avalanche Biotechnologies (AAVL), which dropped $21.83, or 56.15%, to $17.05 after the company reported the results of a study of its AVA-101 drug for wet age-related macular degeneration, or wet AMD. Also lower were shares of Oshkosh (OSK), which fell $3.59, or 7.14%, to $46.71 after cutting its FY15 adjusted EPS view to $3.75-$4.00 from $4.00-$4.25, noting that sales and earnings for its third quarter, principally in its access equipment segment, have been hurt by several factors including severe weather conditions, potential rental industry consolidation and, to a lesser extent, new product launch delays. INDEXES: The Dow rose 113.31, or 0.64%, to 17,904.48, the Nasdaq added 25.58, or 0.51%, to 5,055.55, and the S&P 500 gained 11.86, or 0.57%, to 2,096.29.
14:34 EDTMGMTracinda reports MGM Resorts stake subject to terms of Kerkorian will
Tracinda Corporation disclosed a 16.19% stake in MGM Resorts and stated that upon the death of Kirk Kerkorian on June 15, Tracindaís position in the common stock became subject to the terms of the Kerkorian will. That instrument instructs the executor of Kerkorianís estate, Anthony Mandekic, to execute an orderly disposition of Tracindaís position in the common stock. The timing of when Mandekic will be formally appointed as executor is not currently known, Tracinda said, adding that once such appointment has been formalized, Mandekic will be able to implement the directions of the Kerkorian will with respect to the orderly disposition of the common stock. "However, Tracinda continues to believe that there is substantial value in the assets of MGM Resorts and that the company is a good long-term investment," Tracinda stated in the filing.
10:58 EDTMGMCasino stocks strengthen after report of investor Kerkorian death
10:55 EDTMGMMGM Resorts founder Kerkorian dies at 98, LV Review-Journal reports
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08:08 EDTMGMMacau Q2 estimates lowered below consensus at Morgan Stanley
Following a trip to Macau, Morgan Stanley said the market is still far from a turnaround and trends are still weakening. The firm does not expect Q2 to-date GGR results of (36%) to improve, below its prior estimate of (30%), and lowered forecasts. Morgan Stanley's Q2 Macau property-level EBITDA estimate for MGM Resorts (MGM) falls to $121M vs. consensus of $141M, Wynn Resorts (WYNN) lowered to $200M vs. consensus of $210M, and Las Vegas Sands (LVS) drops to $521M vs. consensus of $549M.
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