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News Breaks
March 5, 2013
11:18 EDTMNST, SPLK, BYD, SHLD, QCOROptions with decreasing implied volatility: QCOR BYD MNST SHLD SPLK
News For QCOR;BYD;MNST;SHLD;SPLK From The Last 14 Days
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October 7, 2015
14:40 EDTBYDNRT Technology signs multi-year pact with Boyd for payments, kiosk solutions
NRT Technology announced that it has signed an exclusive multi-year agreement with Boyd Gaming to provide its 22 casino properties with NRT's full suite of Cash-to-Floor products, solutions and services. Under the terms of the agreement, Boyd Gaming will utilize NRT's QuickJack ticket redemption kiosks and SmartAcquirer ATM and Cash Advance platform for all of its cash access needs. In addition, NRT and Boyd will launch the SecureSmart end-to-end Encryption and Tokenization security solution. NRT will be Boyd Gaming's exclusive provider of ticket redemption kiosks and related bill-breaking and cash access services at all 22 Boyd casinos across the U.S., the company said.
October 6, 2015
15:25 EDTSPLKAmazon cloud announcement unlikely to sink Splunk, analysts say
Amazon (AMZN) appears to be signaling an expanded presence in cloud-based data analytics, sending shares of incumbents in the space lower and prompting several analysts to weigh in on the e-commerce giant's potential impact. AMAZON CLOUD: Amazon is expected to announce a new "big data" analytics addition to Amazon Web Services, according to an October 4 Wall Street Journal report. The article follows the launch last week of Amazon Elasticsearch, adding further data crunching capabilities to the company's cloud computing platform. Commenting on the news, William Blair analyst Bhavan Suri said that Splunk (SPLK) investor concerns over Amazon are overblown. Elasticsearch is likely to remain primarily a document search platform rather than a direct competitor to Splunk's offerings, while Amazon's expected analytics announcement looks more likely to challenge Tableau (DATA) and Qlik (QLIK), the analyst argues. Meanwhile, FBR analyst Daniel Ives said that a tangential move into the data analytics space "makes a ton of strategic and financial sense" for Amazon, as the market is only about 10% penetrated despite aggressive expansion from Microstrategy (MSTR), IBM (IBM), Microsoft (MSFT), SAP (SAP), and others. That said, Ives cautioned that Amazon's ability to again disrupt the cloud space with this latest entry appear limited in the near term, with many companies already showing preference for pure-play analytics firms. Amazon may ultimately have to make a larger acquisition by picking up a Qlik, Tableau, or Splunk to gain traction, the analyst contended. PRICE ACTION: Splunk shares are down fractionally in afternoon trading after some earlier volatility, while Tableau and Qlik are showing respective losses of roughly 3.14% and 1.86%.
08:53 EDTSPLKSplunk investor concerns over Amazon overblown, says William Blair
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05:43 EDTSPLKAmazon launch not immediate threat to Splunk, says UBS
UBS analyst Brent Thill attributes yesterday's weakness in shares of Splunk (SPLK) to Amazon's (AMZN) launch of its own Elasticsearch Service, which on the surface looks competitive to Splunk's Cloud offering. After speaking with Splunk management, however, Thill views Amazon's launch as more of a "Wall Street headline risk" than an immediate competitive threat to Splunk's financials. Amazon's product seems more high-level and less solution-centric compared to Spunk, Thill tells investors in a research note titled "All Analytics Not Created Equal." Shares of Splunk closed yesterday down $1.06 to $55.30. Thill keeps a Buy rating on the name with a $76 price target.
September 30, 2015
09:31 EDTBYDLas Vegas reports August gaming win down 1.4% to $908.24M
Las Vegas strip August gaming win fell 4.7% to $527.38M. Publicly traded companies in the casino space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
09:12 EDTSHLDSears volatility at low end of 52-week range
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07:07 EDTBYDDeutsche Bank to hold a conference
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September 28, 2015
15:37 EDTBYDLas Vegas Sands abandons plans for South Florida casino, LVRJ says
Las Vegas Sands' (LVS) senior vice president of government relations confirmed published reports that the company has abandoned its effort to build a casino-resort in South Florida, reported the Las Vegas Review Journal. The report, which noted that Wynn Resorts (WYNN), MGM Resorts (MGM), Boyd Gaming (BYD) and Genting Berhad were also involved in the Florida efforts, said that Sands will now focus its attention on a potential development in Georgia. Reference Link
10:18 EDTSHLDJ.C. Penney rises after CEO meeting prompts upgrade
Shares of J.C. Penney (JCP) are rising in morning trading after a Sterne Agee CRT analyst upgraded the retailer to Buy with a $13 price target following a meeting with the company's new chief executive officer. WHAT'S NEW: Sterne Agee CRT analyst Charles Grom upgraded J.C. Penney this morning to Buy from Neutral with a $13 price target after recently spending time with new CEO Marvin Ellison at the company's headquarters. Grom said he came away from the meeting "more confident" in the company's turnaround plan, adding that Ellison has the "right demeanor" and business sense to lead the company and "right the ship." Ellison took over as CEO of the retailer on August 1, replacing previous CEO Myron "Mike" Ullman. Sterne's Grom said that while the firm has previously been critical of the retailer's strategy, he believes the initiatives, led by Ellison, are "refreshing" and could boost the company's EBITDA. Grom thinks Ellison is the right person to help revive J.C. Penney and believes the company can surpass its long-term EBITDA target of $1.2B by 2017, saying that this goal "may prove to be a floor rather than a ceiling." Additionally, the analyst sees "multiple levers" to drive same-store sales higher. Despite his optimism in J.C. Penney's recovery story, the analyst notes that U.S. consumer spending is shifting away from traditional items in department stores toward move service-oriented products, traditional mall traffic trends remain "suppressed" and weather trends across the U.S. in August and September were not "ideal" for mall-based retailers. WHAT'S NOTABLE: J.C. Penney recently named John Tighe as executive vice president and chief merchant, effective October 1. Tighe, most recently senior vice president and senior general merchandise manager for the men's, children's, footwear, handbag and intimate apparel divisions, will succeed Elizabeth "Liz" Sweney, the company said. On August 31, Deutsche Bank analyst Paul Trussell upgraded J.C. Penney to Buy from Hold and raised his price target on the stock to $12 from $10, calling the company a "self-help story." Trussell noted that the company has already improved its merchandise mix and is now moving toward better pricing and fewer markdowns. Trussell said that the company's target of mid-single digit same-store sales growth looks "achievable" and its brands and assortment "look right." OTHERS TO WATCH: Other department store operators include Macy's (M), Kohl's (KSS) and Sears Holdings (SHLD). PRICE ACTION: J.C. Penney is up 1.5% to $9.57 in morning trading and is up nearly 50% year-to-date.
07:50 EDTBYDUBS and Deutsche Bank to co-host a forum
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September 24, 2015
10:01 EDTMNSTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 8point3 Energy (CAFD) upgraded to Market Perform from Underperform at Avondale... AEGON (AEG) upgraded to Buy from Neutral at Goldman... AMC Networks (AMCX) upgraded to Buy from Hold at Evercore ISI... Citi ups Ralph Lauren (RL) to Buy on valuation, cost savings... Kate Spade (KATE) upgraded to Overweight from Equal Weight at Stephens... L'Oreal (LRLCY) upgraded to Buy from Hold at Societe Generale... Marriott (MAR) upgraded on historical performance, growth outlook at SunTrust... Monster Beverage (MNST) upgraded to Buy from Neutral at Goldman... Nimble Storage (NMBL) upgraded to Buy from Neutral at Longbow... Qualys (QLYS) upgraded to Neutral from Underperform at Macquarie... Ralph Lauren (RL) upgraded to Buy from Neutral at Citi... Trex Company (TREX) upgraded to Outperform from Neutral at Wedbush... Valero Energy Partners (VLP) upgraded on better than expected transaction at SunTrust.
07:44 EDTSPLKSplunk premium valuation defensible, says UBS
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06:51 EDTMNSTMonster Beverage upgraded to Buy from Neutral at Goldman
Goldman upgraded Monster Beverage (MNST) to Buy and increased its price target to $165 from $160. Analyst Judy Hong said Monster shares have underperformed the market since August, primarily due to issues with the distributor transition and uncertainty on the timing of cash returns. Hong views valuation as attractive ahead of Monster's entry into the China energy market in early 2016, which she believes could add 11c-27c to 2017 earnings. Further, the analyst is modeling a $5B tender announcement in early 2016, twice the amount the market is forecasting, following the close of the Coca-Cola (KO) deal. This is the key driver for Hong's above consensus 2016 earnings estimate of $4.20 versus $3.96.

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