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Stock Market & Financial Investment News

News Breaks
July 10, 2014
11:21 EDTIGT, APO, CG, BYI, SGMS, MGAMInternational Game Technology rises as GTECH reportedly prepares bid
Shares of International Game Technology (IGT) are higher this morning after a press report said the company will soon get an acquisition offer from GTECH. IGT is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms. WHAT'S NEW: Citing La Repubblica, Bloomberg reported that IGT is on the verge of receiving an offer from GTECH, an Italian lottery operator. The offer is said to be worth about $4B in cash and stock. WHAT'S NOTABLE: IGT hired Morgan Stanley to explore a sale of the company on June 9, Reuters reported, citing sources familiar with the matter. In addition to GTECH, the company has reportedly attracted interest from Apollo Global (APO), Carlyle Group (CG) and MacAndrews & Forbes. On June 16, GTECH confirmed exploratory talks with IGT and said it had engaged advisors to assist it in exploring a potential transaction with IGT. PRICE ACTION: International Game Technology is trading up 39c, or 2.6%, to $15.50 in late-morning trading, after being up nearly 6% earlier. OTHERS TO WATCH: Shares of peer IGT Bally Technologies (BYI) are down fractionally, while Scientific Games (SGMS) is down about 0.4% to $10.08. Shares of Multimedia Games (MGAM), which also designs and manufactures gaming machines, are down about 1.8% to $28.18.
News For IGT;APO;CG;BYI;SGMS;MGAM From The Last 14 Days
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July 21, 2014
09:03 EDTBYIBally Technologies partners with Mohegan Sun
Bally Technologies has partnered with Mohegan Sun in Uncasville, Conn., for the world’s largest installation of table game progressive jackpots. Bally’s new Game Manager 2 software will be used to track progressive jackpots on 43 tables across Mohegan Sun’s three casinos: Casino of the Earth, Casino of the Sky, and Casino of the Wind. The Mohegan Sun upgrade marks the installation of the greatest number of table game progressives Bally has performed in North America.
06:26 EDTIGTInternational Game downgraded to Hold from Buy at Stifel
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06:12 EDTIGTStocks with implied volatility below IV index mean; LO IGT
Stocks with implied volatility below IV index mean; Lorillard (LO) 16, International Game (IGT) 14 according to iVolatility.
July 18, 2014
11:25 EDTIGTOptions with decreasing implied volatility
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07:14 EDTCGBlackstone, KKR, TPG discussing deal collusion suit settlement, Reuters says
Blackstone (BX), KKR (KKR) and TPG Capital are in discussions to settle a U.S. case accusing the firms of conspiring not to outbid one another and other buyout companies on takeovers of firms, according to Reuters, citing two people familiar with the matter. If all three companies settled, the Carlyle Group (CG) would be the only private equity company still up against a trial among 11 firms originally accused of colluding in agreements before the financial crisis occurred. Reference Link
06:05 EDTIGTStocks with implied volatility below IV index mean; LO IGT
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July 17, 2014
11:12 EDTIGTOptions with decreasing implied volatility
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10:00 EDTIGTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21st Century Fox (FOXA) downgraded to Buy from Strong Buy at ISI Group... Charter (CHTR) downgraded to Hold from Buy at Jefferies... Covidien (COV) downgraded to Hold from Buy at Needham... Diageo (DEO) downgraded to Underweight from Neutral at JPMorgan... GNC Holdings (GNC) downgraded to Hold from Buy at Jefferies... International Game (IGT) downgraded to Market Perform from Outperform at BMO Capital... JAVELIN Mortgage (JMI) downgraded to Market Perform from Outperform at JMP Securities... Macquarie Group (MQBKY) downgraded to Underweight from Neutral at JPMorgan... PNC Financial (PNC) downgraded to Neutral from Buy at Compass Point... PetSmart (PETM) downgraded to Sector Perform from Outperform at RBC Capital... Rexam (REXMY) downgraded to Hold from Buy at Deutsche Bank.
10:00 EDTIGTOn The Fly: Analyst Upgrade Summary
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09:27 EDTIGTInternational Game downgraded to Neutral from Buy at Sidoti
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07:35 EDTIGTInternational Game downgraded to Market Perform from Outperform at BMO Capital
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05:58 EDTIGTStocks with implied volatility below IV index mean; LO IGT
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05:32 EDTIGTInternational Game upgraded to Neutral from Sell at Goldman
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July 16, 2014
17:03 EDTIGTInternational Game downgraded to Market Perform from Outperform at Wells Fargo
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10:54 EDTIGTInternational Game unlikely to get higher bid, says Brean Capital
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10:35 EDTIGTOptions with decreasing implied volatility
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08:28 EDTIGTInternational Game sees deal with GTECH accretive to cash EPS in first year
Expects EBITDA synergies of more than $280M. Comments taken from slides for conference call to discuss IGT's merger agreement with GTECH.
05:58 EDTIGTInternational Game to host conference call
Conference call to discuss merger agreement with GTECH will be held on July 16 at 8:30 am. Webcast Link
05:31 EDTIGTInternational Game to be acquired by GTECH for $4.7B cash, stock
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05:26 EDTIGTInternational Game to be acquired by GTECH for $4.7B cash, stock
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