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Stock Market & Financial Investment News

News Breaks
February 4, 2013
16:35 EDTCYBX, APKT, BUD, BSFT, MCO, CZR, SONS, MHPOn The Fly: Closing Wrap
Stocks on Wall Street were down on the day after the averages opened sharply lower following Friday's run-up and never mounted a rally. The averages moved lower through the day as January's gains put investors in a position for profit taking. Among notable companies reporting earnings after the close are Gilead (GILD) and Yum! Brands (YUM)... ECONOMIC EVENTS: In the U.S., the ISM New York area reading of 56.7 was ahead of the expected reading of 53.0. A separate report showed factory orders increased 1.8% in December, versus an expected increase of 2.3%. In Europe, Spanish and Italian government bond yields rose following political developments in both countries. In China, non-manufacturing PMI ticked up to 56.2 from 56.1 last month... COMPANY NEWS: Shares of McGraw-Hill (MHP), lost $8.04, or 13.78%, to $50.30 after the Wall Street Journal said the company's S&P Ratings Service is set to face a civil lawsuit from the Department of Justice related to mortgage bond ratings it made before the 2008 financial crisis. CNBC's David Faber later reported that settlement talks between S&P and the Justice Department broke down as the DoJ was seeking a "10 figure settlement and admission of wrongdoing." The company came out and said the threatened civil lawsuit is without legal merit and unjustified... Shares of Acme Packet (APKT) gained $5.66, or 23.65%, to $29.59 after agreeing to be acquired by Oracle (ORCL) for $29.25 per share. Acme Packet's peers gained following the news, as Sonus Networks (SONS) rose 46c, or 20.18%, to $2.74 while Broadsoft (BSFT) rose $3.58, or 10.23%, to $38.56, though shares of Oracle declined $1.08, or 2.97%, to $35.13... MAJOR MOVERS: Among the notable gainers was Cyberonics (CYBX), up $2.46, or 5.55%, to $46.81 after a former employee dropped a lawsuit against the company. Also higher were shares of Caesar's Entertainment (CZR), up 90c, or 11.52%, to $8.71 after the company said it is pursuing a strategic transaction to transfer complementary and growth-related assets into a separate entity. Among the noteworthy losers was Moody's (MCO), which fell $5.90, or 10.66%, to $49.45 after news that ratings peer S&P would be charged with a civil lawsuit by the DoJ relating to CDO ratings made before the financial crisis, though CNBC's David Faber said the potential suit did not involve Moody's. Also lower were shares of AB InBev (BUD), down $4.61, or 5%, to $87.67 after shares were downgraded to Neutral with an $89 price target at BofA Merrill Lynch... INDICES: The Dow was down 129.71, or 0.93%, to 13,880.08; the Nasdaq was down 47.93, or 1.51%, to 3,131.17; and the S&P 500 was down 17.46, or 1.15%, to 1,495.71.
News For MHP;MCO;APKT;SONS;BSFT;CYBX;CZR;BUD From The Last 14 Days
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December 15, 2014
13:41 EDTCZRCaesar's to skip $225M junior bondholder payment, Bloomberg reports
Caesars Entertainment plans to skip a $225M interest payment to junior creditors of its biggest unit, Caesars Entertainment Operating Co., which will start the clock on a 30-day grace period as the company continues debt restructuring talks with its senior bondholders, according to Bloomberg, citing two people with knowledge of the matter. Reference Link
13:31 EDTCZRCaesar's said to plan to skip junior bond payment, Bloomberg reports
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10:36 EDTCZROptions with increasing implied volatility
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December 12, 2014
16:19 EDTCZROn The Fly: Closing Wrap
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14:04 EDTCZRAtlantic City reports November gaming win down 10.3% to $202.5M
New Jersey reported total Atlantic City gaming win from current operators for the month of November was $202.5M, compared to the $181.7M for November 2013, reflecting an 11.5% increase. Total gaming win from the industry including discontinued operators reflects a 10.3% decrease compared to $225.7M in November 2013. As of November 30, 506,172 Internet gaming accounts have been created, up 5.7% from the 479,073 accounts as of October 31. For the month, Internet Gaming Win including discontinued operators was $8.7M. 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).
12:05 EDTCZROptions with increasing implied volatility
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10:01 EDTSONSOn The Fly: Analyst Initiation Summary
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08:54 EDTCZRCaesar's closer to bankruptcy for CEOC after bondholder pact, WSJ says
Caesars Entertainment has struck a tentative deal with senior bondholders on a debt-restructuring plan that would put Caesars Entertainment Operating Co. into bankruptcy protection and convert it into a REIT, said The Wall Street Journal, citing people familiar with the matter. The report noted that the company still needs to agree to terms with creditors who hold CEOC's senior loans. Reference Link
06:21 EDTSONSSonus initiated with a Buy at B. Riley
Target $5.25.
December 11, 2014
10:13 EDTSONSOn The Fly: Analyst Initiation Summary
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05:44 EDTCZRStocks with implied volatility movement; CZR CVX
Stocks with implied volatility movement; Caesar's (CZR) 126, Chevron (CVX) 33 according to iVolatility.
December 10, 2014
16:18 EDTSONSSonus initiated with a Buy at B. Riley
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08:28 EDTMCOMoody's to hold a teleconference
Teleconference entitled, "North American Leveraged Finance 2015 Outlook" is being held on December 10 at 1:30 pm. Webcast Link
06:31 EDTBUDAB InBev to move U.S. sales and marketing base from St. Louis, WSJ reports
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December 9, 2014
12:30 EDTMCOWells Fargo to hold a symposium
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10:23 EDTSONSOn The Fly: Analyst Initiation Summary
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08:34 EDTMCOMcGraw Hill Financial CMBS suspension company specific, says UBS
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06:39 EDTSONSSonus initiated with an Outperform at Wedbush
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December 8, 2014
11:51 EDTCYBXCyberonics reports new results from E-36, E-37 studies
Cyberonics announced new results from two multi-site clinical studies of the AspireSR generator, E-36 and E-37, at the AES Annual Meeting in Seattle, Washington. Investigators presented results from the European E-36 study and the U.S. E-37 study, which assessed the acute impact of the AspireSR generator on seizure duration and termination, as well as the long-term evaluation of safety, clinical benefit of the automatic stimulation feature, and quality of life. Assessments of seizure severity and quality of life were made using validated scales scored by patients and physicians. The acute impact of the AspireSR generator on seizure duration and termination was evaluated during the Epilepsy Monitoring Unit stay period experienced by all patients in both studies. Seizure activity was recorded using concurrent video-EEG and ECG monitoring. Patients in both studies experienced termination of seizures as well as reduced seizure duration during automatic stimulation compared to historical controls. The AspireSR generator is currently investigational in the U.S. and not approved for commercial use. The AspireSR generator attained the CE Mark and is now available in an increasing number of European countries.
December 7, 2014
18:15 EDTCZRCaesar's REIT plan faces creditor resistance, WSJ says
Caesar's plan to convert its largest unit into a real-estate investment trust or REIT is facing some objections from creditors, muddling the casino operators ambition of reducing the unitís $18.4B debt, says the Wall Street Journal. Reference Link
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