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Stock Market & Financial Investment News

News Breaks
November 8, 2012
09:39 EDTBYD, WYNN, LVS, PENN, HOT, MPEL, MGMNevada reports September gaming win up 3.3% to $892.75M
News For HOT;WYNN;MGM;PENN;BYD;MPEL;LVS From The Last 14 Days
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March 3, 2015
06:44 EDTWYNN, MGM, LVSMacau gambling revenue fell 49% in February, NY Times reports
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06:43 EDTMGM, MPEL, LVS, WYNNMacau reports February casino revenue down 48.6% to 19.54B patacas
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06:26 EDTHOTStarwood initiated with a Sector Perform at RBC Capital
Target $84.
March 2, 2015
05:49 EDTHOTStarwood expects to grow portfolio by more than 40 new hotels across Europe
Starwood announced it is on track to open more than 40 new hotels and resorts across Europe in the next five years, expanding its portfolio by almost 30% with openings in both fast-growing and established markets. Further underlining its long-term growth strategy, Starwood is set to open five new hotels in Turkey this year, including The St. Regis Istanbul which just opened on March 1. In 2014 Starwood experienced a record year of deal signings in Europe with almost 60% more signed deals than in the previous year, largely driven by conversion deals. Starwood continues to see increased interest from owners looking to maximize the value of their assets quickly, with many conversion opportunities amidst growing demand coming from the UK, Germany, France and Southern Europe. The pace of franchise deal signings is expected to continue through 2020 with developers seeing the added value Starwood’s brands deliver to their real estate strategies, particularly in mature markets such as the UK, Germany and France. In Europe, the company’s mid-market portfolio is poised to exceed 50% of Starwood’s development pipeline with more than 15 new hotel openings expected across the three brands by the end of 2017. Aloft will more than double its portfolio in Europe with hotels opening in St. Petersburg and London over the next two years, in addition to two hotels in Germany, opening this summer. Four Points by Sheraton, Starwood’s fastest growing brand will also expand in emerging markets with eight openings planned in Turkey and Russia by 2017. The eco-centric Element brand, introduced to Europe with the opening of Element Frankfurt Airport Hotel last year, will debut in Amsterdam before year-end, and become part of an Aloft and Element dual-hotel development in the historic Tobacco Dock section of East London in 2017.
February 27, 2015
09:35 EDTWYNN, BYD, PENN, LVS, MGMNevada reports January statewide gaming win up 7.75% to $952.7M
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09:35 EDTWYNNActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL MCD GOOG MNST BAC TSLA NFLX SINA AMZN WYNN
February 26, 2015
08:29 EDTWYNN, LVS, MPEL, MGMDeutsche cuts 2015 Macau growth forecast to down 21.4%
Deutsche Bank lowered its 2015 Macau gross gaming revenue forecast to down 21.4% from down 8.4% saying the demand issues will not be solved by expanding capacity. The firm's confidence in a Macau turnaround remains "muted," but it continues to view shares of MGM Resorts (MGM) as "meaningfully undervalued." It views Buy-rated Wynn Resorts (WYNN) as better suited for longer term investors at this stage, and lowered its price target for the stock to $170 from $176. Deutsche also cut its price target for Hold-rated Las Vegas Sands (LVS) to $49 from $53.
February 25, 2015
10:01 EDTMPELOn The Fly: Analyst Downgrade Summary
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09:36 EDTLVS, MGMActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL HPQ PBR FSLR MRVL TSLA LVS ABX TWTR MGM
07:30 EDTMPELMelco Crown downgraded to Neutral from Outperform at Credit Suisse
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05:12 EDTHOTStarwood and Uber announce global partnership
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February 24, 2015
16:42 EDTWYNNOn The Fly: Closing Wrap
Stocks on Wall Street began the day almost unchanged as investors awaited the testimony from Federal Reserve Chair Janet Yellen before a Senate panel. Following her prepared remarks, which suggested the central bank will not rush to raise interest rates, buyers stepped in to push the market higher. The Dow moved to all-time highs, as did the S&P, while the Nasdaq extended its most recent streak that saw the index close higher for nine consecutive sessions for the first time that has happened since 2009. ECONOMIC EVENTS: In the U.S., Federal Reserve Chair Janet Yellen stated in prepared testimony to Congress that the central bank considers it "unlikely" that economic conditions will warrant an increase in the target range for the federal funds rate for "at least the next couple" of FOMC meetings. Yellen also said that while the drop in oil prices will have negative effects on energy producers and will probably result in job losses in this sector, it will likely be a significant overall net positive for the U.S. economy. The S&P Case-Shiller 20-city house price index reported a seasonally adjusted monthly increase of 0.9%, versus expectations for an increase of 0.6%. Markit's services PMI for February came in at 57.0, versus consensus of 54.5. The Conference Board consumer confidence index declined in February to 96.4, which was down from last month's revised 103.8 figure and below the consensus 99.5 forecast. The Richmond Fed manufacturing index for February came in at 0, versus the consensus expectation for a reading of 6. In Europe, eurozone finance ministers approved Greece's reform proposals and extended the country's bailout program by four more months. COMPANY NEWS: Home Depot (HD) advanced $4.47, or 3.98%, to $116.75 after the Dow member's earnings beat expectations. The home improvement giant also hiked its quarterly dividend by 26% and authorized an $18B share repurchase program. MAJOR MOVERS: Among the notable gainers was SunPower (SPWR), which rose $5.00, or 17.99%, to $32.80 after its quarterly results topped expectations and the company announced that its in advanced talks to form a joint YieldCo vehicle with peer First Solar (FSLR). First Solar shares also advanced $5.06, or 10.19%, to $54.70 during the session, though its shares are fractionally lower in after-hours trading after the company issued its own earnings report. Among the noteworthy losers was Rosetta Resources (ROSE), which fell $3.29, or 15.04%, to $18.58 after its weaker than expected Q4 report and lowered guidance was followed by at least five analyst downgrades of its stock. Also lower were shares of Wynn Resorts (WYNN), which slid $7.33, or 4.75%, to $147.00 after reports indicated that Macau's government views overcrowding from tourists as a serious problem and plans to review the mainland’s individual visit scheme with authorities after Chinese New Year. INDEXES: The Dow rose 92.35, or 0.51%, to 18,209.19, the Nasdaq gained 7.15, or 0.14%, to 4,968.12, and the S&P 500 added 5.82, or 0.28%, to 2,115.48.
11:19 EDTHOTStarwood announces debut of Aloft and Element brands in Dubai in 2018
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09:52 EDTWYNN, MPEL, MGM, LVSMacau to review mainland’s individual visit scheme, Macau Business Daily says
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07:30 EDTPENNJPMorgan to hold a conference
Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 24 at 7:40 am; not all company presentations may be webcasted. Webcast Link
February 23, 2015
09:59 EDTPENNOn The Fly: Analyst Upgrade Summary
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07:46 EDTWYNNJPMorgan to hold a conference
Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 23 at 8:20 am; not all company presentations may be webcasted. Webcast Link
07:08 EDTPENNPenn National upgraded at BofA/Merrill
As previously reported, BofA/Merrill upgraded Penn National to Buy from Neutral. The firm views Penn National as the regional stock to own for a segment recovery and notes January 2015 gross gaming revenues had the biggest increase since 2006 and February is tracking strong. This, and improving low end consumer commentary at other operators and easy comps, makes risk-reward more favorable. Price target raised to $20 from $17.
06:22 EDTPENNPenn National upgraded to Buy from Neutral at BofA/Merrill
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February 20, 2015
10:30 EDTBYDOptions with decreasing implied volatility
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