New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 6, 2014
04:55 EDTBYD, BYD, SGMS, SGMS, SBUX, SBUX, PENN, PENN, MGAM, MGAM, MCRI, MCRI, YUM, YUM, FUN, FUN, DRI, DRI, SIX, SIXCredit Suisse to hold a conference
3rd Annual Gaming, Lodging, Leisure & Restaurants Conference to be held in New York on August 6-7.
News For BYD;DRI;FUN;YUM;MCRI;MGAM;PENN;SBUX;SGMS;SIX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
November 18, 2014
16:41 EDTDRIDarden to eliminate 25 open support positions
Subscribe for More Information
16:40 EDTDRIDarden Chief Human Resources Officer Ng to transition from position
Daisy Ng, Chief Human Resources Officer, will transition out of her role after more than nine years with Darden. Danielle Kirgan, currently SVP, Human Resources, Specialty Restaurant Group and Total Rewards, will assume Ng's position effective January 5, 2015. Ng will assist in the transition and support the work of the board including the work of the Compensation Committee.
16:39 EDTDRIDarden CFO Richmond to retire
Subscribe for More Information
16:37 EDTDRIDarden announces restructuring, strategic actions
Darden Restaurants announced several leadership changes and strategic actions in order to increase the focus on restaurant operations and improve the guest experience. These changes will better position Darden to win the battle for market share across all of its concepts. In addition to improving focus and providing better support for the company's restaurants, the announcement will lead to approximately $20M in annualized cost savings through a reduction in General and Administrative expenses. The company expects savings of approximately $10M this fiscal year which will mitigate anticipated near-term cost increases in dairy, beef and other commodities. Darden Interim CEO Gene Lee stated, "Winning market share, improving same-restaurant-sales and achieving best-in-class profitability are our key operational objectives going forward, so we need to fine-tune our approach to the business to make sure we are laser-focused on these initiatives. The actions announced today are critically important steps in becoming more efficient in how we support the restaurants. This includes limiting the number of distractions that divert our attention from what matters most – continually working to improve the food and service we offer our guests."
16:35 EDTDRIDarden reports restructuring, closes aviation department, CFO retirement
Subscribe for More Information
09:06 EDTSGMSBally Technologies to host special shareholder meeting
Special shareholder meeting to vote to approve the merger agreement between Bally and Scientific Games with Bally becoming a wholly-owned subsidiary of Scientific Games will be held at Bally's Las Vegas offices on November 18 at 6 pm.
07:29 EDTPENN, BYD, SGMSDeutsche Bank to hold a conference
Subscribe for More Information
November 14, 2014
13:13 EDTSGMSScientific Games volatility increases on wide price movement
Scientific Games November call option implied volatility is at 99, December is at 96, January is at 92, April is at 77; compared to its 26-week average of 81 according to Track Data, suggesting large near term price movement.
06:16 EDTSBUXEU says Starbucks tax deal in Netherlands may be illegal state aid, WSJ says
The European Union said the tax deal struck by Starbucks (SBUX) in the Netherlands amounts to illegal state aid, reports the Wall Street Journal. European Commission regulators said it reached a preliminary view that the tax deal violated guidelines produced by the Organization for Economic Cooperation and Development. It said the tax deal "tolerates questionable adjustments which allow Starbucks Manufacturing BV to lower the resulting corporate income tax basis in the Netherlands." The EU is also investigating tax arrangements of Apple (AAPL) in Ireland and Amazon (AMZN) and Fiat S.p.A. (FIATY) in Luxembourg. Reference Link
November 13, 2014
14:05 EDTPENN, BYDNew Jersey reports Atlantic City gaming win down 4.4% to $207.23M
Subscribe for More Information
10:27 EDTBYDHigh option volume stocks
Subscribe for More Information
08:35 EDTDRIDarden announces corporate governance reforms
Darden Restaurants is implementing a number of reforms and the board has also recommended changes that would require shareholder approval at the company's 2015 Annual Meeting of Shareholders. The changes include, but are not limited to: termination of the company's Shareholder Rights Plan – the company has eliminated the Poison Pill by amending the Rights Agreement to expire on November 28, 2014 rather than May 25, 2015; the company has adopted a majority voting standard in uncontested elections; the company has amended its political engagement and disclosure policy to provide additional disclosure of its political contributions and lobbying efforts; the board has resolved to recommend for shareholder approval, at the company's next annual meeting, an amendment to the Charter to provide a 10% voting threshold to call a special meeting; the board has recommended for shareholder approval an amendment to the relevant provisions of the Charter to eliminate the supermajority requirement. The board also adopted a revised peer group for compensation benchmarking, which better matches the company's size and profile. This new peer group will assist the board in further aligning compensation practices with shareholder interests.
November 12, 2014
11:44 EDTSIX, FUNSeaWorld sinks to 52-week low after Q3 profit, attendance fall
Shares of theme park and entertainment company SeaWorld (SEAS) are plunging after the company’s profit, attendance and adjusted EBITDA all fell significantly on a year over year basis. The also forecast fiscal year 2014 revenue and adjusted EBITDA to be down from last year. WHAT'S NEW: This morning, SeaWorld reported Q3 adjusted earnings per share of $1.01, missing analysts' $1.13 consensus by 12 cents. Revenue for the quarter was $495.84M, compared to analysts' consensus estimates of $495.4M. Adjusted EBITDA in the quarter was $209.1M, a decrease of $45.3M, or 18%, compared to the third quarter of 2013. Attendance in Q3 ws 8.4M, down from 8.9M a year ago. The company believes the decline in attendance results from a combination of factors including negative media attention in California along with a challenging competitive environment, particularly in Florida. The competitive challenges in Florida relate to significant new attraction offerings at competitor destination parks, along with a delay in the scheduled opening of one of the company's new rides at its Busch Gardens Tampa park. The decrease in total revenue in the third quarter was primarily driven by a 5.2% decline in attendance, along with a 2.9% decline in total revenue per capita from $60.74 in the third quarter of 2013 to $58.99. WHAT’S NOTABLE: Looking ahead, SeaWorld forecast FY14 revenue and adjusted EBITDA to be down 6%-7% and 14%-16%, respectively. The FY14 revenue consensus ahead of the company's report was $1.37B. The company also said it expects to take a restructuring charge of up to $13M in Q4 related to its cost reduction initiatives. The company sees FY14 capital expenditures to be in the range of $155M-$165M and fiscal year 2015 CapEx to be in the range of $185M-$195M. Jim Atchison, the company's Chief Executive Officer, noted that the attendance trends the company experienced in the latter part of the second quarter continued into Q3. He called 2014 a “challenging year,” and said the company was executing a cost savings plan that is expected to deliver approximately $50M of annual cost savings by the end of 2015. He also said the company was adjusting its attraction and marketing plans to address immediate top-line concerns. PRICE ACTION: In late morning trading, SeaWorld fell $2.24, or 12.04%, to $16.36 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $16.53. Including today's pull back, the shares have lost approximately 48% over the past 12 months. OTHERS TO WATCH: Other companies in the theme park space include Disney (DIS), up 0.03%, Six Flags (SIX), down 0.16%, and Cedar Fair (FUN), up 0.76%.
11:21 EDTMGAMMultimedia Games downgraded to Hold from Buy at Stifel
Subscribe for More Information
07:48 EDTSIX, FUNWells Fargo to hold a conference
5th Annual Technology, Media & Telecom Conference is being held in New York on November 12-13.
07:06 EDTMGAMMultimedia Games reports Q4 EPS 12c, may not compare to consensus 30c
Reports Q4 revenue $50.5M, consensus $54.76M. Financial results for the three and twelve month periods ended September 30, 2014 include a pre-tax impact of $6.6 million in selling, general and administrative expenses related to acquisition costs and expenses associated with both the pending acquisition of Multimedia Games (MGAM) by GCA (GCA) and Multimedia Games’ recent acquisition of PokerTek
November 11, 2014
10:00 EDTDRIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcentra Capital (ABDC) upgraded to Outperform from Market Perform at Keefe Bruyette... Ambac Financial (AMBC) upgraded to Neutral from Sell at MKM Partners... Banco Bilbao (BBVA) upgraded to Buy from Reduce at Nomura... Darden (DRI) upgraded at KeyBanc... ICU Medical (ICUI) upgraded to Overweight from Neutral at Piper Jaffray... IMAX (IMAX) upgraded to Buy from Neutral at Goldman... Juniper (JNPR) upgraded to Buy from Neutral at Nomura... Michaels (MIK) upgraded to Overweight from Equal Weight at Morgan Stanley... Midcoast Energy (MEP) upgraded to Outperform from Neutral at Credit Suisse... Midstates Petroleum (MPO) upgraded to Outperform from Market Perform at Northland... Monroe Capital (MRCC) upgraded to Outperform from Neutral at RW Baird... NuVasive (NUVA) upgraded to Outperform from Market Perform at Cowen... ONEOK Partners (OKS) upgraded to Outperform from Neutral at Credit Suisse... ORBCOMM (ORBC) upgraded to Overweight from Equal Weight at First Analysis... Pattern Energy (PEGI) upgraded to Outperform from Neutral at Macquarie... Targa Resources Partners (NGLS) upgraded to Outperform from Neutral at Credit Suisse... Time Warner (TWX) upgraded to Conviction Buy from Neutral at Goldman... Tremor Video (TRMR) upgraded to Buy from Hold at Jefferies... Western Gas Partners (WES) upgraded to Outperform from Neutral at Credit Suisse... Yamana Gold (AUY) upgraded to Overweight from Neutral at HSBC... Zynga (ZNGA) upgraded to Buy from Hold at Jefferies.
08:55 EDTDRIDarden upgraded at KeyBanc
Subscribe for More Information
06:43 EDTDRIDarden upgraded to Buy from Hold at KeyBanc
November 10, 2014
07:36 EDTYUMPizza Hut to unveil major menu expansion, CNBC reports
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use