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Stock Market & Financial Investment News

News Breaks
March 14, 2014
10:14 EDTXOXO, NGS, X, NUE, HMY, AU, PLUG, ONTY, DKL, PNK, HWCC, COVSOn The Fly: Analyst Downgrade Summary
AngloGold (AU) downgraded to Underperform from Neutral at Macquarie... Covisint (COVS) downgraded to Neutral from Outperform at Credit Suisse... Delek Logistics (DKL) downgraded to Neutral from Buy at Goldman... Harmony Gold (HMY) downgraded to Underperform from Neutral at Macquarie... Houston Wire & Cable (HWCC) downgraded to Underperform at Raymond James... Nucor (NUE) downgraded to Neutral from Outperform at Credit Suisse... Oncothyreon (ONTY) downgraded to Hold from Buy at Cantor... Pinnacle Entertainment (PNK) downgraded to Hold from Buy at Deutsche Bank... Plug Power (PLUG) downgraded to Neutral from Buy at Roth Capital... U.S. Steel (X) downgraded to Underperform from Neutral at Credit Suisse... Natural Gas Services (NGS) downgraded to Equalweight from Overweight at Capital One... XO Group (XOXO) downgraded to Neutral from Buy at B. Riley.
News For AU;COVS;DKL;HMY;HWCC;ONTY;NUE;PNK;PLUG;X;NGS;XOXO From The Last 14 Days
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July 29, 2015
05:12 EDTXU.S. Steel sees FY15 adjusted EBITDA $700M-$900M
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05:10 EDTXU.S. Steel reports Q2 EPS with-items ($1.79), may not compare to consensus (10c)
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July 28, 2015
10:33 EDTX, NUEAK Steel, other producers file trade cases related to cold-rolled steel
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10:00 EDTPLUGOn The Fly: Analyst Initiation Summary
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08:22 EDTPLUGPlug Power initiated with a Buy at Craig-Hallum
Target $3.50.
July 27, 2015
16:35 EDTDKLDelek Logistics raises quarterly distribution 3.8% to 55c per unit
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07:08 EDTPLUGPlug Power acquires full control of HyPulsion JV for $11.47M in stock
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July 24, 2015
17:13 EDTPNKPinnacle Entertainment reports 21.3% stake in Gaming and Leisure Properties
07:02 EDTXU.S. Steel July weekly volatility elevated into Q2 and outlook
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July 23, 2015
09:03 EDTNUENucor reports Q2 average sales price ton down 8%
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09:02 EDTNUENucor reports Q2 EPS 39c, consensus 26c
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July 21, 2015
09:21 EDTPNKOn The Fly: Pre-market Movers
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07:59 EDTPNKPinnacle Entertainment to host conference call
Conference call to discuss agreement that Gaming and Leisure Properties, Inc. will acquire real estate assets will be held on July 21 at 11 am. Webcast Link
07:53 EDTPNKGaming and Leisure to host conference call
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07:14 EDTPNKGaming and Leisure Properties agrees to acquire Pinnacle real estate assets
Gaming and Leisure Properties (GLPI) and Pinnacle Entertainment (PNK) jointly announced that they have entered into a definitive agreement under which GLPI will acquire substantially all of Pinnacle's real estate assets in an all-stock transaction. Under the terms of the agreement, which was unanimously approved by both companies' boards, Pinnacle's operating business and the real property of Belterra Park Gaming & Entertainment will be spun off into a separately traded public company and the real estate assets held by the remaining company will be acquired by GLPI. Pinnacle shareholders will receive a fixed exchange ratio of 0.85 GLPI common shares per Pinnacle share for PropCo. Pinnacle shareholders will also receive one share of OpCo common stock for each share of Pinnacle they own. The agreed-upon exchange ratio gives PropCo an implied enterprise value of $4.75B, implying 12.6x initial year PropCo adjusted earnings before interest, taxes, depreciation and amortization, or 13.2x including transaction-related fees and expenses. Pro forma for the transaction, existing Pinnacle shareholders will own 100% of OpCo and approximately 56M shares in GLPI, representing an approximate 27% equity interest in the larger, post-transaction GLPI. Pinnacle's OpCo will continue to own and operate other assets, including Belterra Park Gaming & Entertainment, the Heartland Poker Tour, Pinnacle's interest in Retama Park, gaming licenses, gaming equipment as well as approximately 450 acres of developable land, principally in Lake Charles and Baton Rouge, adjacent to real estate GLPI would acquire. After the close of the transaction, which the companies expect will be completed in the first quarter of 2016, Pinnacle will operate the leased gaming facilities under a triple-net 10-year Master Lease agreement with GLPI that will have five subsequent, five-year extension periods at Pinnacle's option. Pinnacle will initially pay GLPI $377M in rent in the first year after close, which will result in a lease coverage ratio of 1.9x adjusted property earnings before interest, taxes, depreciation, amortization and rent/lease expense. GLPI anticipates the transaction will deliver low double-digit percentage accretion to its pro forma adjusted funds from operations per share in the first year after close. Under the triple-net lease structure, GLPI will benefit from the continued revenue growth of Pinnacle's operating assets. The combined REIT expects to continue to distribute at least 90% of its annual taxable income as dividends, and the first full year dividend per share is expected to increase by approximately a low double-digit percentage.
07:12 EDTPNKGaming and Leisure Properties agrees to acquire Pinnacle real estate assets
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July 20, 2015
16:22 EDTAUOn The Fly: Top stock stories for Monday
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07:44 EDTPNKRegional Gaming estimates raised at BofA/Merrill
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July 17, 2015
10:05 EDTNGSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Accretive Health (ACHI) downgraded to Market Perform from Outperform at Cowen... Allergan (AGN) downgraded to Outperform from Top Pick at RBC Capital... Best Buy (BBY) downgraded to Underperform from Buy at BofA/Merrill... Cablevision (CVC) downgraded to Hold from Buy at Jefferies... Credit Suisse (CS) downgraded to Hold from Buy at Deutsche Bank... Domino's Pizza (DPZ) downgraded to Sector Weight from Overweight at KeyBanc... First Quantum Minerals (FQVLF) downgraded to Neutral from Outperform at Credit Suisse... First Republic (FRC) downgraded to Market Perform from Outperform at FBR Capital... Fresenius SE (FSNUY) downgraded to Neutral from Buy at Goldman... Golden Minerals (AUMN) downgraded to Neutral from Buy at Roth Capital... JD Wetherspoon (JDWPY) downgraded to Reduce from Neutral at Nomura... NV5 Holdings (NVEE) downgraded to Neutral from Accumulate at Global Hunter... National Oilwell (NOV) downgraded to Sell from Neutral at UBS... Natural Gas Services (NGS) downgraded to Neutral from Buy at Global Hunter... Primoris (PRIM) downgraded to Neutral from Accumulate at Global Hunter... Receptos (RCPT) downgraded to Hold from Buy at Evercore ISI... SKF AB (SKFRY) downgraded to Hold from Buy at Deutsche Bank... STAG Industrial (STAG) downgraded to Sell from Neutral at UBS... SolarWinds (SWI) downgraded to Hold from Buy at Deutsche Bank... Syntel (SYNT) downgraded to Market Perform from Outperform at William Blair... TECO Energy (TE) downgraded to Neutral from Buy at UBS... Tangoe (TNGO) downgraded to Underweight from Equal Weight at Barclays... Tegna (TGNA) downgraded to Hold from Buy at Evercore ISI.
09:02 EDTNGSNatural Gas Services downgraded to Neutral from Buy at Global Hunter
Global Hunter downgraded Natural Gas Services to Neutral and lowered its price target to $23 from $26. The firm believes the company's production-related compression rental business will be pressured as drilling declines and sees limited upside for shares.
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