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Stock Market & Financial Investment News

News Breaks
March 4, 2013
10:11 EDTXONE, ULTA, SIG, PNK, HIIQ, COH, PVA, VRA, TIF, SBH, ONCY, GPS, TBBK, HMIN, TJX, ROST, KORS, FNPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Coach (COH) initiated with a Buy at Sterne Agee.. Fifth & Pacific (FNP) initiated with a Buy at Sterne Agee... Gap (GPS) initiated with an Underperform at Sterne Agee... Health Insurance Innovations (HIIQ) initiated with a Buy at Citigroup... Michael Kors (KORS) initiated with a Neutral at Sterne Agee... Oncolytics Biotech (ONCY) initiated with an Overweight at Piper Jaffray... Pinnacle Entertainment (PNK) initiated with a Buy at BofA/Merrill... Ross Stores (ROST) initiated with a Neutral at Sterne Agee... Sally Beauty (SBH) initiated with a Buy at Sterne Agee... Signet Jewelers (SIG) initiated with a Neutral at Sterne Agee... TJX (TJX) initiated with a Buy at Sterne Agee... Tiffany (TIF) initiated with a Neutral at Sterne Agee... Ulta Salon (ULTA) initiated with a Buy at Sterne Agee... Vera Bradley (VRA) initiated with an Underperform at Sterne Agee... Home Inns (HMIN) initiated with an Outperform at Credit Suisse... ExOne (XONE) initiated with a Buy at BB&T... ExOne (XONE) initiated with an Outperform at FBR Capital... The Bancorp (TBBK) initiated with a Buy at BTIG... Penn Virginia (PVA) initiated with an Outperform at Wells Fargo.
News For COH;FNP;GPS;HIIQ;KORS;ONCY;PNK;ROST;SBH;SIG;TJX;TIF;ULTA;HMIN;VRA;XONE;TBBK;PVA From The Last 14 Days
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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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07:30 EDTULTAUlta Salon price target raised to $180 from $173 at JPMorgan
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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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06:07 EDTGPSONUG: Yahoo hires VP of global network from Symantec
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July 20, 2015
16:13 EDTPVAPenn Virginia CEO announces retirement
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08:35 EDTROSTRoss Stores to open 27 new locations in July
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07:44 EDTPNKRegional Gaming estimates raised at BofA/Merrill
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July 17, 2015
07:54 EDTCOHCoach near-term risk remains but could create opportunity, says UBS
UBS believes near-term risk remains for Coach but sees underlying trends creating the potential for a buying opportunity. The firm noted its concerns surrounding the company's heavy promotions but sees the brand improving with millennials. UBS reiterated its Neutral rating and lowered its price target to $34 from $40 on Coach shares.
July 16, 2015
10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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09:21 EDTKORSMichael Kors downgraded to Mixed from Positive at OTR Global
OTR Global downgraded Michael Kors to Mixed following checks that indicate U.S. Department Store sales are below goals and feedback that popularity is waning due to over distribution.
07:58 EDTPVAPenn Virginia stock should outperform on asset sale, says SunTrust
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July 15, 2015
19:03 EDTPVAOn The Fly: After Hours Movers
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16:15 EDTPVAPenn Virginia sells East Texas assets for $75M
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11:24 EDTKORSStocks with call strike movement; AAL KORS
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11:12 EDTSIGSignet Jewelers management to meet with Topeka
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10:01 EDTPVAOn The Fly: Analyst Downgrade Summary
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05:37 EDTPVAPenn Virginia downgraded to In-Line from Outperform at Imperial Capital
Imperial Capital downgraded Penn Virginia to In-Line saying a significant reduction to 2016 capital expenditures is likely if the company is not sold. The firm cut its price target for shares to $3.75 from $7.
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