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Stock Market & Financial Investment News

News Breaks
February 11, 2013
14:02 EDTMGM, HOT, LVS, WYNN, CZR, BYD, PENN, MPELNew Jersey reports Atlantic City January casino win fell 13.2% to $205.6M
News For MGM;HOT;LVS;WYNN;CZR;BYD;PENN;MPEL From The Last 14 Days
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September 30, 2014
08:43 EDTCZRApollo wins approval for transfer of Caesar's loyalty program, NY Post says
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08:03 EDTHOTStarwood to relocate global HQ to India in March 2015 for month-long immersion
Starwood Hotels & Resorts Worldwide announced that it will relocate its global headquarters from the United States to India in March 2015 for a month-long immersion. Starwood President & CEO Frits van Paasschen and the company’s top executives will split their time between Mumbai and Delhi, conducting day-to-day business from this important global destination with immense potential for outbound travel. Following the company’s successful relocations to China in 2011 and Dubai in 2013, this third leadership move underscores Starwood’s unique approach to cultivating a global culture and fostering relationships in key growth markets.
07:33 EDTMPELDeutsche Bank to hold a conference
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September 29, 2014
14:03 EDTLVSLas Vegas Sands volatility elevated as shares trade near 1-year low
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10:40 EDTHOTStarwood to launch W brand in Marrakech in 2017
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09:40 EDTHOTStarwood debuts Luxury Collection Castle Hotel
The Luxury Collection, part of Starwood Hotels & Resorts Worldwide announces the opening of Castle Hotel, a Luxury Collection Hotel, Dalian. Owned by the Dalian Yifang Group and managed by Starwood Hotels & Resorts, Castle Hotel marks Luxury Collection’s first hotel in Liaoning, China.
07:23 EDTPENN, WYNN, MGM, BYD, LVSUBS & Deutsche Bank to co-host a forum
Gaming Investment Forum to be held in Las Vegas on September 29-30 with webcasted company presentations to begin on September 29 at 12 pm; not all company presentations may be webcasted. Webcast Link
September 26, 2014
17:22 EDTHOTStarwood Hotels expands presence in Nigeria with the signing of Four Points
Starwood Hotels & Resorts Worldwide announced the signing of Four Points by Sheraton Ikot Ekpene, a new build hotel scheduled to debut in 2015. Owned by the Akwa Ibom State Government, Four Points by Sheraton Ikot Ekpene marks Starwood’s 10th hotel in Nigeria and second hotel in the state of Akwa Ibom, after Le Meridien Ibom Hotel & Golf Resort.
09:33 EDTLVS, PENN, MGM, CZR, BYD, WYNNNevada reports August statewide gaming win down 3.66% to $920.29M
Nevada reports August Las Vegas Strip gaming win down 6.08% to $553.19M. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
September 25, 2014
06:41 EDTPENNBarclays remains positive on Penn National
Barclays said gaming repeal efforts are subsiding in Massachusetts and upcoming catalysts for Penn National are not being reflected in shares. The analyst remains positive on Penn National's outlook and expects the opening of 1250 slots at Plainridge Park in June 2015 could add $3 per share in valuation and potential permitting and construction delays for Wynn (WYNN) could give Penn a head start. Lastly, Barclays believes the Hollywood Jamui project expected in 2016 could add $2 per share in valuation. Shares are Overweight rated.
September 23, 2014
08:45 EDTBYDBofA/Merrill China and U.S. auto analysts hold analyst/industry conference call
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September 22, 2014
10:15 EDTMPEL, WYNN, LVSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actavis (ACT) downgraded to Equal Weight from Overweight at Barclays... Aetna (AET) downgraded to Neutral from Buy at BofA/Merrill... Auxilium (AUXL) downgraded to Hold from Buy at Stifel... CARBO Ceramics (CRR) downgraded to Neutral from Buy at Sterne Agee... Commerzbank (CRZBY) downgraded to Underperform from Neutral at Exane BNP Paribas... Concur (CNQR) downgraded to Neutral from Buy at Nomura... Dresser-Rand (DRC) downgraded to Neutral from Accumulate at Global Hunter... Finish Line (FINL) downgraded to Equal Weight from Overweight at Morgan Stanley... General Communications (GNCMA) downgraded to Hold from Buy at Drexel Hamilton... InvenSense (INVN) downgraded to Neutral from Outperform at RW Baird... Las Vegas Sands (LVS) downgraded to Market Perform from Outperform at Wells Fargo... Lindsay Corp. (LNN) downgraded at Sterne Agee... Melco Crown (MPEL) downgraded to Market Perform from Outperform at Wells Fargo... Outerwall (OUTR) downgraded to Sell from Neutral at B. Riley... PSEG (PEG) downgraded to Hold from Buy at Jefferies... Realogy (RLGY) downgraded to Underperform from Neutral at Credit Suisse... Regal-Beloit (RBC) downgraded to Accumulate from Buy at Global Hunter... SABMiller (SBMRY) downgraded to Market Perform from Outperform at Bernstein... Saba Software (SABA) downgraded to Neutral from Buy at B. Riley... Suburban Propane (SPH) downgraded to Market Perform from Outperform at Wells Fargo... Swiss Re (SSREY) downgraded to Underperform from Neutral at Exane BNP Paribas... Towers Watson (TW) downgraded to Buy from Conviction Buy at Goldman... Valmont (VMI) downgraded at Sterne Agee... Walgreen (WAG) downgraded to Equal Weight from Overweight at Barclays... Watts Water (WTS) downgraded to Neutral from Buy at Janney Capital... Wynn Resorts (WYNN) downgraded to Market Perform from Outperform at Wells Fargo... Yahoo (YHOO) downgraded to Neutral from Buy at BofA/Merrill.
07:37 EDTMPEL, WYNN, MGM, LVSLarge-Cap Gaming sector downgraded at Wells Fargo
Wells Fargo downgraded the Large-Cap Gaming sector to Market Weight from Overweight while cutting its ratings on Las Vegas Sands (LVS), Wynn Resorts (WYNN) and Melco Crown (MPEL) to Market Perform from Outperform. Wells believes near-term uncertainty in Macau has increased, making the risk/reward on shares balanced for the next 6-12 months. The firm thinks second half of 2014 and 2015 EBITDA estimates still need to come down another 10%. Wells cuts its price target range for Las Vegas Sands to $60-$70 from $80-$85, for Wynn to $180-$200 from $245-$250 and for Melco to $28-$31 from $38-$40. The firm keeps a Market Perform rating on MGM Resorts (MGM) with a slightly reduced price target range of $23-$26.
07:12 EDTMPELMelco Crown downgraded to Market Perform from Outperform at Wells Fargo
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07:12 EDTWYNNWynn Resorts downgraded to Market Perform from Outperform at Wells Fargo
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07:12 EDTLVSLas Vegas Sands downgraded to Market Perform from Outperform at Wells Fargo
September 19, 2014
10:06 EDTMGMOn The Fly: Analyst Downgrade Summary
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07:29 EDTMGMMGM Resorts downgraded to Hold from Buy at Argus
Argus downgraded MGM Resorts based on disappointing Macau gaming revenue.
07:03 EDTPENNPenn National names CEO Timothy Wilmott to board of directors
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September 18, 2014
06:47 EDTWYNN, MPEL, LVS, MGMMacau stocks getting closer to bottom, says JPMorgan
JPMorgan says most Macau stocks have a 2:1 upside/downside ratio, making the risk/rewards favorable. The firm prefers MGM Resorts (MGM) and Wynn Resorts (WYNN) over Melco Crown (MPEL) and Las Vegas Sands (LVS) in the near-term, but keeps Overweight ratings on all four names. JPMorgan lowered its price target for Las Vegas Sands to $69 from $83, for Melco to $31 from $40, for MGM to $30 from $31 and for Wynn to $210 from $239. The firm says the stocks are getting closer to a bottom.
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