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Stock Market & Financial Investment News

News Breaks
February 7, 2013
09:10 EDTIGTOrange Capital recommends International Game commence tender
Orange Capital said it has issued an open letter to the board of International Game Technology in response to the company’s recent share price performance and election contest with the Ader Group. The letter stated in part, "IGT’s valuation is near its all-time low on the basis of net income and cash flow. We believe this reflects the investment community’s lack of faith in the operating strategy and capital allocation decisions of IGT management and the Board of Directors. Based on the Company’s fiscal 2013 guidance, IGT will generate approximately $400 million of after-tax free cash flow. This represents nearly 10% of the Company’s current market capitalization. Specifically, we have two recommendations for the Board: 1. Immediately commence a “Dutch Auction” tender offer for 25% of IGT’s outstanding shares; and 2. Amicably resolve the ongoing election contest with the Ader Group by agreeing to reconstitute the Board to include the Ader Group’s director nominees."
News For IGT From The Last 14 Days
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July 21, 2014
10:02 EDTIGTOn The Fly: Analyst Downgrade Summary
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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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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
July 14, 2014
06:02 EDTIGTInternational Game announces comprehensive systems solution with Northern Quest
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