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Stock Market & Financial Investment News

News Breaks
February 20, 2014
07:39 EDTMGMMGM Resorts should outperform market, says Stifel
Stifel expects MGM's stock to outperform in the near-term and longer term, driven by stronger FY14 convention bookings, higher than expected Q1 REVPAR guidance, and an encouraging Strip outlook. The firm raised its price target on the stock to $32 from $27 and keeps a Buy rating on the shares.
News For MGM From The Last 14 Days
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July 23, 2015
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).
July 22, 2015
19:02 EDTMGMOn The Fly: After Hours Movers
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July 15, 2015
09:05 EDTMGMMGM Resorts launches plans for 5,000-seat theater at Monte Carlo
MGM Resorts announced plans for an approximately 5,000-seat theater at Monte Carlo Resort and Casino on the west side of the Las Vegas Strip. While The Park and Arena are expected to open in April 2016, the Monte Carlo theater is projected to host its first act at the end of 2016.
08:26 EDTMGMMGM Resorts shares undervalued, says Stifel
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July 14, 2015
14:00 EDTMGMNew Jersey reports Atlantic City gaming win down 8.2% to $216.5M in June
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12:32 EDTMGMMGM Resorts initiated with a Buy at Gabelli
Target $25.
July 13, 2015
15:26 EDTMGMMacau casino operators rise as government hints at softened smoking stance
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12:19 EDTMGMOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after a last minute deal was struck to provide new aid to Greece and hopefully prevent its exit from the eurozone currency union. With Greece apparently off the table as a risk for the time being, investors will now be looking forward to the earnings season, which will begin in earnest this week, beginning with reports from some big banks and a number of tech giants. ECONOMIC EVENTS: In Europe, Greek Prime Minister Alexis Tsipras agreed to European demands for immediate action to qualify for up to $95B of financial assistance. The summit pact averted a worst-case scenario, but only established the basis for negotiations and the Greek parliament now has until Wednesday to pass into law key creditor demands. Greek banks, which have been closed for two weeks as the saga has unfolded, will stay closed until Wednesday, at least. In China, exports rose 2.1% from a year earlier during June and imports dropped 6.7%, leaving a trade surplus of $45.8B for the month, the nation's customs administration reported. In the U.S., the monthly budget statement for June is due at 2 pm EDT. COMPANY NEWS: Shares of Marathon Petroleum (MPC) advanced nearly 9% after MPLX (MPLX), the company's fee-based master limited partnership, agreed to acquire MarkWest Energy (MWE) in a unit-for-unit transaction plus a one-time cash payment to MarkWest unitholders. The deal implies a total enterprise value for MarkWest of approximately $20B, including the assumption of debt of approximately $4.2B, as of the close of trading on July 10. MarkWest surged over 11.5% higher after the news, while MPLX units slid 16%. MAJOR MOVERS: Among the notable gainers was Anacor Pharmaceuticals (ANAC), which jumped 56% after the company announced preliminary top-line results from its Phase 3 studies of its non-steroidal topical anti-inflammatory treatment of mild-to-moderate atopic dermatitis in children and adults. In two studies, crisaborole achieved statistically significant results on all primary and secondary endpoints and Wedbush raised Anacor's price target to $190 afterward, saying it sees the drug's sales reaching $2B in 2020. Also higher was Wynn Resorts (WYNN), which was among the Macau levered stocks that advanced after Macau Business indicated that an official in the territory said the government there might let casinos keep their smoking rooms. Among the noteworthy losers was Ascena Retail (ASNA), which dropped 15% after cutting its fiscal 2015 earnings guidance, citing its recent decision to accelerate its planned merchandise transition at Justice and to incorporate lower than expected top-line performance at Justice and dressbarn. Also lower were shares of Windstream (WIN), which fell 6% after UBS downgraded the stock to sell, saying the company's declining revenue and EBITDA trends will continue to weigh on shares. The firm cut its price target on the stock to $5 from $11.50. INDEXES: Near midday, the Dow was up 187.10, or 1.05%, to 17,947.51, the Nasdaq was up 66.37, or 1.33%, to 5,064.07, and the S&P 500 was up 18.92, or 0.91%, to 2,095.54.
07:46 EDTMGMMacau government may soften casino smoking ban, Macau Business says
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