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Stock Market & Financial Investment News

News Breaks
March 7, 2013
05:55 EDTBKW, BKW, PENN, PENN, CAR, CAR, IGT, IGT, MAR, MAR, RHP, RHP, BJRI, BJRIJPMorgan to host a forum
Gaming, Lodging, Restaurant & Leisure Management Access Forum is being held in Las Vegas on March 7-8.
News For BKW;PENN;CAR;IGT;MAR;RHP;BJRI From The Last 14 Days
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February 23, 2015
07:08 EDTPENNPenn National upgraded at BofA/Merrill
As previously reported, BofA/Merrill upgraded Penn National to Buy from Neutral. The firm views Penn National as the regional stock to own for a segment recovery and notes January 2015 gross gaming revenues had the biggest increase since 2006 and February is tracking strong. This, and improving low end consumer commentary at other operators and easy comps, makes risk-reward more favorable. Price target raised to $20 from $17.
06:22 EDTPENNPenn National upgraded to Buy from Neutral at BofA/Merrill
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February 19, 2015
14:59 EDTCARAvis Budget downgraded to Market Perform from Outperform at Avondale
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13:02 EDTMARMarriott files automatic mixed securities shelf
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12:45 EDTBJRIOn The Fly: Midday Wrap
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10:31 EDTMARMarriott sells Miami Beach EDITION for $230M in cash proceeds
Marriott announced it has sold The Miami Beach EDITION hotel for cash proceeds of $230M. The sale is the second in a series of three anticipated sales of Marriott-owned EDITION hotels to companies ultimately owned by the Abu Dhabi Investment Authority. The agreement with ADIA for the sale of these three EDITION hotels was announced when the first, The London EDITION, was sold to ADIA in January 2014. Marriott expects to sell the third, The New York EDITION to ADIA in the first quarter of 2015. Marriott noted that it retains the long-term management agreement for the hotel.
10:27 EDTMARMarriott says 'bullish' about demand trends in North America
Says "very optimistic" about long-term. Sees Q1 group revenue pace for company operated full service hotels up 6%, FY group pace up 5%. Sees special corporate room rates from continuing accounts up 5%-6% in 2015. Says "bullish" about demand trends in North America. Says strong dollar may discourage international travel, but doesn't see this as significant headwind to North America operations. Says Brazil trends likely to remain weak, but "bullish" about long-term growth potential. Sees FY15 fee revenue up 9%-11%, incentive fees up in a low double digit rate. Expects fee revenue to be constrained by unfavorable forex. Sees total fee revenue reduced by forex by $15M-$20M in FY15. Sees cash returned to shareholders in 2015 at least as much as 2014. Sees Q1 fee revenue up at mid teens rate. Comments made on the Q4 earnings conference call.
09:12 EDTBJRI, MAROn The Fly: Pre-market Movers
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08:40 EDTBJRIBJ's Restaurants price target raised to $60 from $55 at Stifel
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February 18, 2015
18:55 EDTMAR, BJRIOn The Fly: After Hours Movers
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16:42 EDTCARAvis Budget sees FY15 EPS ex-items $3.15-$3.75, consensus $3.56
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16:40 EDTCARAvis Budget reports Q4 EPS ex-items 23c, consensus 20c
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16:36 EDTMARMarriott sees FY15 EPS $3.00-$3.12, consensus $3.03
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16:34 EDTMARMarriott sees Q1 EPS 68c-72c, consensus 66c
For Q1, the company expects comparable systemwide RevPAR on a constant dollar basis will increase 5 to 7% in North America, 4 to 6% outside North America and 5 to 7% worldwide.
16:33 EDTMARMarriott reports Q4 EPS 68c, consensus 65c
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16:19 EDTBJRIBJ's Restaurants gaps up after earnings beat, levels to watch
In the extended session the stock was last at $51, just below the 52-week high at $51.30. Additional resistance levels above the 52-week high are at $51.68 and $53.39.
16:12 EDTBJRIBJ's Restaurants sees opening at least 15 new sites in FY15
The company plans to open at least 15 new restaurants in fiscal 2015 and has, to date, opened new restaurants in Nanuet, New York and Slidell, Louisiana, in Q1. With the exception of the Nanuet location, all of the restaurants opened in Q4 and Q1 are the company's new 7,400 square foot prototype. This new prototype has been well received by guests and costs approximately $4M on a gross basis, which is approximately $1M less than the prior prototype.
16:11 EDTBJRIBJ's Restaurants reports Q4 EPS 31c, consensus 21c
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15:35 EDTMAR, CARNotable companies reporting after market close
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09:10 EDTMARMarriott volatility increases into Q4 results and outlook
Marriott overall option implied volatility of 25 is near its 26-week average of 23 according to Track Data, suggesting non-directional price movement into the expected release of Q4 on February 19.
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