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Stock Market & Financial Investment News

News Breaks
February 6, 2013
08:18 EDTMGM, HOT, LVS, WYNN, CZR, BYD, PENN, MPELChina to crack down on Macau junket operators, The Times says
Beginning in late February, after the Chinese New Year holiday, police operations in more than six big Chinese cities plan to crackdown on Macau "junket" operators as part of a wider anti-corruption campaign, according to The Times of London. Reference Link
News For MGM;HOT;LVS;WYNN;CZR;BYD;PENN;MPEL From The Last 14 Days
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October 14, 2014
08:07 EDTWYNNWynn Resorts downgraded at BofA/Merrill
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08:07 EDTLVSLas Vegas Sands downgraded at BofA/Merrill
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07:33 EDTLVSLas Vegas Sands weakness a buying opportunity, says Susquehanna
Susquehanna said the recent weakness in Las Vegas Sands creates an attractive entry point for long term investors. The firm remains comfortable with its estimates and took a more conservative stance in Macau following September results. Susquehanna maintains its Positive rating and $79 price target on the stock.
06:38 EDTWYNNWynn Resorts downgraded to Neutral from Buy at BofA/Merrill
Price target lowered to $195 from $210.
06:38 EDTLVSLas Vegas Sands downgraded to Neutral from Buy at BofA/Merrill
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October 13, 2014
12:33 EDTCZROptions with increasing implied volatility
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10:02 EDTPENNPenn National exceeds construction diversity vendor goals of Plainridge Casino
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07:36 EDTLVSLas Vegas Sands October volatility elevated into Q3 and Macau outlook
Las Vegas Sands October call option implied volatility is at 66, November is at 40, December is at 36, January is at 35; compared to its 26-week average of 29 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 16.
06:32 EDTMPELMelco Crown shares could rally $10 on Osaka win, says Citigroup
Citigroup estimates shares of Melco Crown could rally up to $10 should the company win a gaming license in Osaka, Japan. Citi expects the gaming bill in Japan to be passed in November, and notes Melco is a major candidate in Osaka. The firm believes the upcoming opening of City of Dreams Manila will be a "game changer" to the Philippines gaming market. It lowered its price target for shares to $43 from $46 and keeps a Buy rating on the name.
06:28 EDTLVSLas Vegas Sands shares could rally $10 on Tokyo win, says Citigroup
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06:25 EDTMGMMGM Resorts win in Japan could add $11 per share, says Citigroup
Citigroup estimates shares of MGM Resorts could rally $11 should the company win a gaming license in Osaka, Japan. Citi expects the gaming bill in Japan to be passed in November, and notes MGM is a major candidate in Osaka. The firm says the Macau slowdown has the least impact on MGM. It lowered its price target for shares to $31 from $32 and keeps a Buy rating on the name.
October 10, 2014
16:22 EDTCZROn The Fly: Closing Wrap
Stocks on Wall Street had a bit of a see-saw trading day, but ended the session in the red once again. The Nasdaq took the brunt of the losses, falling over 2%, while the Dow's slide erased its gains for the year. ECONOMIC EVENTS: In the U.S., the import price index fell 0.5% in September, versus expectations for a 0.7% decline. Oil slumped to a four-year low during the session, as brent crude touched $88.11 intra-day, its lowest level since December 2010. COMPANY NEWS: The semiconductor sector was weak across the board after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector has entered a correction. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it does business with over 80,000 customers and that it built a significant amount of inventory in the distribution channel in the September quarter. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future. Microchip, which also pre-announced weaker than expected second quarter revenue, dropped $5.58, or 12.26%, to $39.96. Intel (INTC) fell $1.71, or 5.09%, to $31.91, Avago (AVGO) declined $9.24, or 11.46%, to $71.36, Texas Instruments (TXN) slipped $3.28, or 7.13%, to $42.74 and Micron (MU) dropped $2.71, or 8.86%, to $27.93. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rallied $6.48, or 35.76%, to $24.60 after the company announced last night that the Centers for Medicare & Medicaid Services, or CMS, had agreed to cover the company's colorectal cancer and pre-cancer test through Medicare. Also higher was Dave & Buster (PLAY), which gained $1.28 to $17.28 after commencing trading on the Nasdaq following its initial public offering. Among the noteworthy losers was Procera Networks (PKT), which was downgraded by at least four research firms and plunged $2.85, or 33.33%, to $5.70 after the company warned its Q3 revenue will miss expectations. Also lower were shares of Caesars (CZR), which dropped $1.92, or 17.36%, to $9.14 after disclosing in a regulatory filing that its Chief Accounting Officer resigned to accept a position with another company. INDEXES: The Dow fell 115.15, or 0.69%, to 16,544.10, the Nasdaq plunged 102.10, or 2.33%, to 4,276.24, and the S&P 500 dropped 22.08, or 1.15%, to 1,906.13.
12:45 EDTCZRCaesar's names Keith Causey Chief Accounting Officer
Caesars Entertainment Corporation announced the appointment of Keith Causey as senior VP and Chief Accounting Officer. He replaces Diane Wilfong, who has left the company to pursue another opportunity. There are no disagreements between Wilfong and Caesars Entertainment regarding the company's financial reporting, operations, policies or practices.
10:49 EDTBYDHigh option volume stocks
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09:38 EDTMGMActive equity options trading on open
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09:14 EDTLVSLas Vegas Sands estimates lowered at Craig-Hallum
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07:42 EDTCZRCaesar's reports resignation of Chief Accounting Officer
Caesars Entertainment disclosed in a regulatory filing that on October 6 Diane Wilfong resigned as SVP, Controller and Chief Accounting Officer to accept a position with another company. Her resignation will be effective on October 31. The company has identified a successor and expects to make an announcement shortly, Caesar's noted.
October 9, 2014
10:00 EDTMGMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Acuity Brands (AYI) upgraded at Oppenheimer... Agnico-Eagle (AEM) upgraded to Buy from Hold at Desjardins... Apple (AAPL) upgraded to Outperform from Perform at Oppenheimer... Bank of Montreal (BMO) upgraded to Buy from Hold at Canaccord... Basic Energy (BAS) upgraded to Hold from Underperform at Jefferies... BreitBurn Energy (BBEP) upgraded to Outperform from Perform at Oppenheimer... Golden Minerals (AUMN) upgraded at Roth Capital... Helmerich & Payne (HP) upgraded to Buy from Hold at Jefferies... II-VI (IIVI) upgraded to Buy from Neutral at DA Davidson... LivePerson (LPSN) upgraded at Credit Suisse... Luminex (LMNX) upgraded to Market Perform at Cowen... MGM Resorts (MGM) upgraded at Craig-Hallum... New Gold (NGD) upgraded to Buy from Hold at Desjardins... New Source Energy (NSLP) upgraded to Outperform from Perform at Oppenheimer... Pacific Coast Oil (ROYT) upgraded to Buy from Hold at Stifel... Pioneer Energy (PES) upgraded to Buy from Hold at Jefferies... Precision Drilling (PDS) upgraded to Strong Buy from Outperform at Raymond James... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Resource Capital (RSO) upgraded to Buy from Hold at MLV & Co.... Toyota (TM) upgraded to Buy from Neutral at BofA/Merrill... Transocean (RIG) upgraded to Outperform from Sector Perform at Iberia... Universal Technical (UTI) upgraded to Outperform from Market Perform at Wells Fargo... Vulcan Materials (VMC) upgraded to Buy from Neutral at Longbow.
08:39 EDTMGMMGM Resorts upgraded at Craig-Hallum
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07:43 EDTMGMMGM Resorts upgraded to Buy from Hold at Craig-Hallum
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