New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 11, 2014
12:28 EDTBYD, PENN, PNK, ISLE, MCRI, DDECasino operators climb after hedge fund discloses Boyd Gaming stake
The shares of a number of U.S. casino operators focused on properties outside of Las Vegas are rising after a hedge fund announced a significant stake in one of the companies in the sector, Boyd Gaming (BYD). WHAT'S NEW: Hedge fund Elliott Management last night disclosed that it had obtained 4.99% of Boyd's outstanding shares and an additional 2.05% exposure to the stock through derivatives. Elliott’s filing status allows the fund to seek talks with Boyd’s management or its board regarding a variety of strategic alternatives, but the filing said the fund has no present plan or proposal to engage management. ANALYST REACTION: In a note to investors earlier today, research firm Janney Capital called Boyd Gaming shares expensive. The company is unlikely to be sold for much above its current share price, given the stock's high valuation, wrote the firm, which has a $9 price target and Neutral rating on the stock. WHAT'S NOTABLE: Companies that own U.S. casinos outside of Las Vegas have reported largely disappointing results in recent weeks, with Pinnacle Entertainment (PNK) and Isle of Capri (ISLE) announcing results that missed expectations. Meanwhile, Penn National (PENN) reported lower than expected fourth quarter revenue and provided weaker than expected first quarter guidance last month. Separately, well-known investor Leon Cooperman disclosed on February 25 that he had sold his stake in Penn National last quarter. Another in the space, Monarch Casino (MCRI), reported higher than expected revenue but profits that came in below analysts' consensus estimate. PRICE ACTION: In early afternoon trading, Pinnacle Entertainment jumped 5.4% to $25.60, Isle of Capri advanced 2.5% to $8.72, Dover Downs Gaming (DDE) climbed 1.9% to $1.58, and Boyd Gaming jumped 18% to $13.90. Bucking the trend, Penn National slid 0.9% to $12.77 and Monarch Casino dropped 1.5% to $18.95.
News For BYD;PENN;PNK;ISLE;MCRI;DDE From The Last 14 Days
Check below for free stories on BYD;PENN;PNK;ISLE;MCRI;DDE the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 25, 2014
09:32 EDTPENN, BYDNevada reports June statewide gaming win up 14.4% to $906.9M
Subscribe for More Information
July 24, 2014
16:41 EDTMCRIMonarch Casino reports Q2 EPS 18c, consensus 29c
Reports Q2 revenue $47.8M, consensus $48.5M. The company said, "We are disappointed with our second quarter results as operations were impacted by higher operating expenses and lower revenue at both Atlantis and Monarch Black Hawk. The year over year comparison also reflects a one-time $560,000 accounting benefit in the 2013 second quarter. Atlantis revenue declined as a result of increased promotional activity by our competitors and lower levels of convention and meeting business while ongoing construction disruption impacted our Black Hawk operation."
14:40 EDTPNKPinnacle Entertainment urged to separate real estate into REIT by Orange Capital
Subscribe for More Information
14:07 EDTPENNPenn National sell-off a buying opportunity, says Brean Capital
Subscribe for More Information
13:14 EDTPNKPinnacle Entertainment pullback a buying opportunity, says Brean Capital
Subscribe for More Information
09:09 EDTBYDBoyd Gaming announces senior executive appointments
Boyd Gaming announced several senior executive appointments. Chris Gibase has been appointed to the newly created position of CMO. Gibase previously served as Senior VP, Operations, for 10 years. Boyd Gaming also has named two executives – Steve Schutte and Vince Schwartz – to the position of Senior VP, Operations. Additionally, Boyd Gaming has expanded the responsibilities of Ted Bogich, Senior VP, Operations of Midwest properties. In his new role, Bogich will be responsible for Blue Chip, Par-A-Dice, Kansas Star, Delta Downs and Evangeline Downs. Gibase, Bogich, Schwartz and Schutte will report directly to Paul Chakmak, Executive VP and COO.
08:18 EDTDDEDover Downs reports Q2 EPS 1c, one estimate 2c
Subscribe for More Information
08:06 EDTPNKPinnacle Entertainment reports Q2 adjusted EPS 37c, consensus 47c
Subscribe for More Information
07:16 EDTPENNPenn National cuts FY14 EPS view to 2c from 12c, consensus 14c
Subscribe for More Information
07:15 EDTPENNPenn National sees Q3 EPS 6c, consensus 3c
Sees Q3 revenue $633.5M, consensus $627.42M.
07:08 EDTPENNPenn National reports Q2 EPS 3c, consensus 7c
Subscribe for More Information
July 14, 2014
14:04 EDTPENN, BYDNJ reports Atlantic City June gaming win $236M
Subscribe for More Information

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