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Stock Market & Financial Investment News

News Breaks
June 30, 2014
13:17 EDTCACQ, CZRCaesars submits application to develop Caesars New York
Caesars Acquisition (CACQ) and Caesars Entertainment (CZR) announced the proposed development of Caesars New York, an $880M luxury casino resort in Woodbury, New York. Caesars Acquisition, through its subsidiary, Caesars Growth Partners, submitted its application to the New York State Gaming Facility Location Board for a gaming license, which will be managed and operated by Caesars Entertainment and its affiliates. The application details plans for the resort and presents information about Caesars' operations and history. The resort is projected to attract more than 10 million visitors a year. Caesars New York will work closely with other businesses in the State to maximize the economic development opportunity in the region. Based on current estimates, Caesars projects an estimated total of $230M in anticipated annual tax revenues with $29M annually going to the local community and $10M to Orange County. The project is anticipated to create approximately 4,500 direct jobs including 1,500 construction jobs and approximately 3,000 permanent, well-paying, mostly union jobs. Caesars has entered into a neutrality agreement with the New York Hotel Trades Council and a project labor agreement with the Hudson Valley Building Trades Council with regard to the operation and construction of the proposed resort. In its application, Caesars has outlined a plan to open the resort approximately 24 months after receiving necessary permits and approvals.
News For CACQ;CZR From The Last 14 Days
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October 22, 2014
07:16 EDTCZRCaesar's wants to build $1B casino-resort in Phillipines, Bloomberg reports
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October 21, 2014
11:30 EDTCZROptions with decreasing implied volatility
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October 17, 2014
08:00 EDTCZRCaesar's prepared to begin formal discussions with certain bank debt creditors
Caesars and its subsidiary Caesars Entertainment Operating Company announced that they have executed non-disclosure agreements with certain beneficial holders of debt issued by CEOC, including senior secured term loans, pursuant to the third amended and restated credit agreement, dated as of July 25, 2014, enabling the commencement of formal discussions with the Bank Lenders.
October 15, 2014
14:10 EDTCZRPennsylvania reports September gaming revenue down 2.2% to $239.5M
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14:06 EDTCZRAtlantic City reports September gaming win down 12.8% to $209.4M
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October 14, 2014
11:28 EDTCZROptions with increasing implied volatility
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October 13, 2014
12:33 EDTCZROptions with increasing implied volatility
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October 10, 2014
16:22 EDTCZROn The Fly: Closing Wrap
Stocks on Wall Street had a bit of a see-saw trading day, but ended the session in the red once again. The Nasdaq took the brunt of the losses, falling over 2%, while the Dow's slide erased its gains for the year. ECONOMIC EVENTS: In the U.S., the import price index fell 0.5% in September, versus expectations for a 0.7% decline. Oil slumped to a four-year low during the session, as brent crude touched $88.11 intra-day, its lowest level since December 2010. COMPANY NEWS: The semiconductor sector was weak across the board after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector has entered a correction. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it does business with over 80,000 customers and that it built a significant amount of inventory in the distribution channel in the September quarter. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future. Microchip, which also pre-announced weaker than expected second quarter revenue, dropped $5.58, or 12.26%, to $39.96. Intel (INTC) fell $1.71, or 5.09%, to $31.91, Avago (AVGO) declined $9.24, or 11.46%, to $71.36, Texas Instruments (TXN) slipped $3.28, or 7.13%, to $42.74 and Micron (MU) dropped $2.71, or 8.86%, to $27.93. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rallied $6.48, or 35.76%, to $24.60 after the company announced last night that the Centers for Medicare & Medicaid Services, or CMS, had agreed to cover the company's colorectal cancer and pre-cancer test through Medicare. Also higher was Dave & Buster (PLAY), which gained $1.28 to $17.28 after commencing trading on the Nasdaq following its initial public offering. Among the noteworthy losers was Procera Networks (PKT), which was downgraded by at least four research firms and plunged $2.85, or 33.33%, to $5.70 after the company warned its Q3 revenue will miss expectations. Also lower were shares of Caesars (CZR), which dropped $1.92, or 17.36%, to $9.14 after disclosing in a regulatory filing that its Chief Accounting Officer resigned to accept a position with another company. INDEXES: The Dow fell 115.15, or 0.69%, to 16,544.10, the Nasdaq plunged 102.10, or 2.33%, to 4,276.24, and the S&P 500 dropped 22.08, or 1.15%, to 1,906.13.
12:45 EDTCZRCaesar's names Keith Causey Chief Accounting Officer
Caesars Entertainment Corporation announced the appointment of Keith Causey as senior VP and Chief Accounting Officer. He replaces Diane Wilfong, who has left the company to pursue another opportunity. There are no disagreements between Wilfong and Caesars Entertainment regarding the company's financial reporting, operations, policies or practices.
07:42 EDTCZRCaesar's reports resignation of Chief Accounting Officer
Caesars Entertainment disclosed in a regulatory filing that on October 6 Diane Wilfong resigned as SVP, Controller and Chief Accounting Officer to accept a position with another company. Her resignation will be effective on October 31. The company has identified a successor and expects to make an announcement shortly, Caesar's noted.
October 8, 2014
08:39 EDTCZRCaesar's subsidiary receives purported Notice of Default
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