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Stock Market & Financial Investment News

News Breaks
January 17, 2013
14:34 EDTCZR, ASCA, PENN, PNK, LVSLas Vegas Sands seeks $1B in potential sale of Penn. casino, Bloomberg says
Las Vegas Sands (LVS) is looking to sell its casino in Pennsylvania for as much as $1B, though efforts to sell have been complicated by the asking price and potential buyers being involved in other deals, according to Bloomberg, citing people familiar with the situation. Reference Link
News For LVS;PENN;CZR;PNK;ASCA From The Last 14 Days
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July 22, 2015
16:03 EDTLVSLas Vegas Sands reports Q2 adjusted EPS 60c, consensus 61c
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15:26 EDTLVSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
15:09 EDTCZRBankruptcy judge rules Caesar's must face suits, Bloomberg reports
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14:56 EDTCZRJudge won't halt creditor lawsuits against Caesar's parent, WSJ reports
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14:51 EDTCZRCaesar's halted for circuit breaker after falling to $6.31
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14:01 EDTCZRCaesar's July weekly 7 straddle priced for 33% movement into court ruling
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14:01 EDTCZRCaesar's July weekly volatility spikes to 490 into court ruling
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13:02 EDTLVSLas Vegas Sands technical notes ahead of earnings
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12:04 EDTCZRCaesar's volatility spikes into court ruling
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06:41 EDTLVSLas Vegas Sands volatility elevated into Q2 and outlook
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July 21, 2015
16:28 EDTCZROn The Fly: Top stock stories for Tuesday
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12:21 EDTCZROn The Fly: Top stock stories at midday
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09:21 EDTPNKOn The Fly: Pre-market Movers
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07:59 EDTPNKPinnacle 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 EDTPNKGaming 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 EDTPNKGaming 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 EDTPNKGaming and Leisure Properties agrees to acquire Pinnacle real estate assets
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05:07 EDTCZRCaesar's, CEOC, reach agreement with group of second lien noteholders
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July 20, 2015
07:44 EDTPNK, PENNRegional Gaming estimates raised at BofA/Merrill
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