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Stock Market & Financial Investment News

News Breaks
May 12, 2014
04:55 EDTIGT, IGT, IGT, MGM, MGM, MGM, MNTG, MNTG, MNTG, MCRI, MCRI, MCRI, GLPI, GLPI, GLPI, SGMS, SGMS, SGMS, BYI, BYI, BYI, PENN, PENN, PENN, BYD, BYD, BYD, CHDN, CHDN, CHDN, PNK, PNK, PNK, ISLE, ISLE, ISLEWells Fargo to hold a conference
5th Annual Wells Fargo Gaming Conference to be held in Las Vegas on May 12-14.
News For IGT;PNK;CHDN;BYD;PENN;BYI;SGMS;GLPI;MCRI;MNTG;MGM;ISLE From The Last 14 Days
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July 28, 2015
07:55 EDTBYDBoyd Gaming upgraded to Neutral at BofA/Merrill
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06:44 EDTBYDBoyd Gaming upgraded to Neutral from Underperform at BofA/Merrill
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July 24, 2015
17:13 EDTGLPI, PNKPinnacle Entertainment reports 21.3% stake in Gaming and Leisure Properties
July 23, 2015
19:06 EDTBYDOn The Fly: After Hours Movers
UP AFTER EARNINGS: Amazon (AMZN), up 17.2%... Marketo (MKTO), up 15.4%... Juniper Networks (JNPR), up 9.9%... NetGear (NTGR), up 9.2%... Qlik Technologies (QLIK), up 9.1%... LogMeIn (LOGM), up 9.9%... Pandora (P), up 10.3%... Mitek Systems (MITK), up 7.8%... Proofpoint (PFPT), up 5.1%... Supreme Industries (STS), up 4.7%... Skyworks (SWKS), up 3.6%... IGI Laboratories (IG), up 3.7%... Maxim Integrated Products (MXIM), up 4.1%... Boyd Gaming (BYD), up 4.1%... Trinity Industries (TRN), up 5%... Trinity Industries (N), up 3.2%... Starbucks (SBUX), up 4.5%. ALSO HIGHER: Qorvo (QRVO), up 2.7% after Skyworks reported quarterly results. DOWN AFTER EARNINGS: TrueCar (TRUE), down 33.1% after reporting quarterly results and cutting fiscal 2015 revenue guidance... Tripadvisor (TRIP), down 9.2%... Align Technology (ALGN), down 7.4%... Capital One (COF), down 4.9%... PMC-Sierra (PMCS), down 9.1%... athenahealth (ATHN), down 2.1%. ALSO LOWER: Sunesis Pharmaceuticals (SNSS), down 59.7% after giving vosaroxin regulatory update... Avalanche Biotechnologies (AAVL), down 5.6% after CEO Thomas Chalberg, Jr., Ph.D. resigns and Hans Hull name interim CEO.
17:32 EDTBYDBoyd Gaming raises FY15 Borgata adjusted EBITDA to $170M
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16:20 EDTBYDBoyd Gaming raises 2015 adjusted EBITDA outlook to $575M-$595M
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16:19 EDTBYDBoyd Gaming reports Q2 adjused EPS 24c, consensus 10c
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07:32 EDTMGMLas Vegas Sands results encouraging, says Stifel
After Las Vegas Sands (LVS) reported higher than expected Macau property-level EBITDA, Stifel says that the beat should cause analysts to raise their estimates for the company. The firm adds that the results are encouraging for all "Macau-centric operators." It raised its price target on Las Vegas Sands to $65 from $60 and keeps a Buy rating on the shares. Other companies with a major presence in Macau include Melco Crown (MPEL), Wynn Resorts (WYNN), and MGM (MGM).
07:08 EDTPENNPenn National sees Q3 EPS 18c, consensus 12c
Sees Q3 revenue $728.2M, consensus $710.61M.
07:08 EDTPENNPenn National raises FY15 EPS view to 58c from 46c
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07:07 EDTPENNPenn National reports Q2 EPS 19c, consensus 14c
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July 22, 2015
19:02 EDTMGMOn The Fly: After Hours Movers
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16:13 EDTMCRIMonarch Casino reports Q2 EPS 29c, consensus 27c
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July 21, 2015
09:21 EDTPNK, GLPIOn The Fly: Pre-market Movers
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07:59 EDTPNK, GLPIPinnacle 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 EDTPNK, GLPIGaming and Leisure to host conference call
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07:30 EDTPENNPenn National price target raised to $23 from $20 at Susquehanna
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07:14 EDTGLPI, PNKGaming 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 EDTPNK, GLPIGaming and Leisure Properties agrees to acquire Pinnacle real estate assets
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July 20, 2015
07:44 EDTPNK, BYD, PENN, GLPIRegional Gaming estimates raised at BofA/Merrill
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