New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 26, 2014
13:20 EDTCZR, CACQCaesar's says will defend against insolvency allegations made against CEOC
Caesar's (CZR) disclosed in a regulatory filing that on March 21, the company along with Caesars Entertainment Operating Company, or CEOC, Caesars Entertainment Resort Properties, Caesars Acquisition (CACQ) and Caesars Growth Partners received a letter from a law firm acting on behalf of unnamed clients who claim to hold Second-Priority Secured Notes of CEOC, alleging, among other things, that CEOC is insolvent and that CEOC’s owners improperly transferred or seek to transfer valuable assets of CEOC to affiliated entities. Caesar's stated: "CEC strongly believes there is no merit to the Letter’s allegations and will defend itself vigorously and seek appropriate relief should any action be brought. If a court were to order rescission of the 2013 Transactions or enjoin consummation of the Contemplated Transaction that could cause CEOC, CERP and Planet Hollywood to default under existing debt agreements, and there can be no assurance that CEOC’s, CERP’s or Planet Hollywood’s assets would be sufficient to repay the applicable debt. In addition, if the Contemplated Transaction were consummated and a court were to find that those transfers were improper, that could trigger a default under the debt that Caesars Growth Partners is contemplating raising to finance such transfers. These consequences could have a material adverse effect on CEC’s business, financial condition, results of operations and prospects."
News For CZR;CACQ From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 29, 2015
11:09 EDTCZRCaesar's denied fast appeal route by judge, WSJ reports
A U.S. bankruptcy court judge ruled that Caesars Entertainment Operating Co., the main operating unit of Caesar's Entertainment, may not bypass the district court and take its challenge of his ruling that allows creditors’ lawsuits against the parent to proceed directly to a circuit court of appeals, reported The Wall Street Journal. Reference Link
July 28, 2015
10:00 EDTCZRNevada reports June statewide gaming win down 8.4% to $830.94M
Reports June Las Vegas Strip gaming win down 16.3% to $445.51M. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
July 22, 2015
16:27 EDTCACQ, CZROn The Fly: Top stock stories for Wednesday
Stocks began the session in negative territory and remained there throughout the day. Uninspiring earnings reports from Apple (AAPL) and Microsoft (MSFT) were enough to push the Nasdaq lower and the rest of the market followed. There was good news on the housing sector, with both existing home sales and a housing market index coming in with good data, but it was not enough to overcome the tech selloff. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: Shares of Apple dropped $5.79, or 4.43%, to $124.96 after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. A number of suppliers to Apple declined in tandem with the tech giant. Skyworks Solutions (SWKS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report... Microsoft declined $1.88, or 3.97%, to $45.40 after reporting its Q4 Devices and Consumer revenue declined 13% and its Windows OEM revenue decreased 22% as revenue was impacted by PC market declines following the XP end-of-support refresh cycle. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose $5.84, or 10.14% to $63.42 after St. Jude Medical (STJ) announced an agreement to acquire the company for $63.50 per share in a transaction valued at $3.4B. Shares of St. Jude, meanwhile, edged down by 4c to $76.67. Also higher following earnings reports were shares of Intuitive Surgical (ISRG) and Chipotle Mexican Grill (CMG), advancing about 8.5% and 7.8%, respectively. Among the noteworthy losers was Caesars Entertainment (CZR), which dropped $3.26, or 40.65%, to $4.76 following reports that a judge ruled the company must face certain creditor lawsuits that could force a bankruptcy. Caesars Acquisition (CACQ) also dipped after the news, falling $1.13, or 14.52%, to $6.65. Also lower was XOMA (XOMA), which plummeted $3.46, or 78.61%, to 94c and saw downgrades at numerous research firms after the company's Phase 3 gevokizumab study did not meet its primary endpoint. INDEXES: The Dow fell 65.60, or 0.37%, to 17,853.69, the Nasdaq lost 36.35, or 0.7%, to 5,171.77, and the S&P 500 declined 5.06, or 0.24%, to 2,114.15.
15:09 EDTCZRBankruptcy judge rules Caesar's must face suits, Bloomberg reports
Subscribe for More Information
14:56 EDTCZR, CACQJudge won't halt creditor lawsuits against Caesar's parent, WSJ reports
Subscribe for More Information
14:51 EDTCZRCaesar's halted for circuit breaker after falling to $6.31
Subscribe for More Information
14:01 EDTCZRCaesar's July weekly 7 straddle priced for 33% movement into court ruling
Subscribe for More Information
14:01 EDTCZRCaesar's July weekly volatility spikes to 490 into court ruling
Subscribe for More Information
12:04 EDTCZRCaesar's volatility spikes into court ruling
Subscribe for More Information
July 21, 2015
16:28 EDTCZROn The Fly: Top stock stories for Tuesday
Subscribe for More Information
12:21 EDTCZROn The Fly: Top stock stories at midday
Subscribe for More Information
05:07 EDTCZRCaesar's, CEOC, reach agreement with group of second lien noteholders
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