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November 27, 2012
12:16 EDTMMR, LVS, DDS, GLW, BF.B, CAG, THO, ACAD, BFA, RAHOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after "core" durable goods orders and a reading on consumer confidence rose. Stock index futures were slightly lower in pre-market trading, even though the terms of a new debt deal for Greece had been outlined prior to the U.S. opening bell. The major averages spent the majority of the session in negative territory despite some better than expected domestic economic data, but managed to get back on the plus side of the ledger as the lunch hour arrived... ECONOMIC EVENTS: In the U.S., the Commerce Department said non-defense capital goods orders excluding aircraft rose 1.7% in October, versus expectations for a 0.5% decline. Total durable goods orders were unchanged for the month, versus expectations for them to decline 0.7%. The S&P Case-Shiller 20-city home-price index gained 0.4% in September compared to the prior month and prices in the 20 cities rose 3.0% year over year, which were both roughly in line with forecasts. The Conference Board's consumer confidence index rose to 73.7 in November, beating expectations and hitting its highest level in almost five years. The Richmond Fed manufacturing survey for November registered +9, compared to expectations for it to slide to -9 from the prior -7 reading. In Europe, the region's finance ministers, the ECB and the IMF reached an aid deal on Greece, which is expected to help the nation reduce its debt-to-GDP ratio to 124% by 2020... COMPANY NEWS: ConAgra Foods (CAG) agreed to acquire Ralcorp Holdings (RAH) for $90.00 per share, or about $6.8B including the assumption of debt. Shares of Ralcorp shot up 26.4% to $88.76 following the deal announcement and ConAgra also advanced 4.7% after the news... In the continuation of a recent trend, several companies declared new special dividends, with Dillard's (DDS) to pay a one-time dividend of $5.00 per share, Brown-Forman (BFA, BF.B) declaring one at $4.00 per share, and Las Vegas Sands (LVS) approving its own $2.75 per share special dividend... MAJOR MOVERS: Among the notable gainers was ACADIA Pharmaceuticals (ACAD), up 140% following its report of positive results from a trial of its treatment for Parkinson's disease psychosis, or PDP. Also higher were shares of Corning (GLW), up nearly 8% after the company said it now sees stronger than forecasted Q4 LCD glass volume and Topeka raised its rating on the shares to Buy. Among the noteworthy losers was McMoRan Exploration (MMR), which fell over 15% after being down yesterday as well after the company provided an update on its Gulf of Mexico exploration results and indicated ongoing well difficulties. Also lower were shares of Thor Industries (THO), down 10% after its disappointing quarterly report... INDICES: Near noon, the Dow was up 3.22, or 0.02%, to 12,970.59; the Nasdaq was up 5.79, or 0.19%, to 2,982.57; and the S&P 500 was up 2.32, or 0.16%, to 1,408.61.
News For B;LVS;ACAD;GLW;MMR;THO From The Last 14 Days
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October 2, 2015
12:25 EDTLVSMacau casino shares rally on report of possible government aid
Shares of Macau casino operators rallied after the government of Macau reported September revenue in line with forecasts and amid reports that the Chinese government may provide economic support to the city. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN). WHAT'S NEW: According to the Macau government website, gaming sector revenue for the month of September was down 33% year-over-year to 17.13B patacas, marking the 16th straight month of decline. Through September, Macau gaming revenue is down 36.2% compared to the first nine months of 2014. WHAT'S NOTABLE: Macau Chief Executive Officer Fernando Chui said that the government will pay "close attention" to gaming revenues in September and the fourth quarter and that he would reconsider any "non-essential" spending during a time of gaming industry consolidation. Chui previously said the city plans to announce a new tourism strategy "soon" to attract more visitors. In addition, Beijing plans to introduce additional policies this year to support Macau amid an economic adjustment, Bloomberg reports, citing local Macau broadcaster Teledifusao de Macao. According to Li Gang, director of the Chinese government's local liaison office in Macau, the report says Beijing might clarify the city's jurisdiction over certain land and sea waters, which may lead to the city having more space for development, and the government is also looking into how to increase the city's tourism. ANALYST OPINION: Any potential measures to help Macau's visitation "could be a great boon for the industry," Bloomberg cited JPMorgan analyst DS Kim as saying. PRICE ACTION: At midday, Las Vegas Sands was up 8.27 to $40.04, MGM Resorts rose 4.23% to $19.45, Wynn Resorts rallied 17.27% to $60.64, and Melco Crown jumped 10.13% to $15.00.
09:44 EDTLVSOptions with increasing volume
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09:13 EDTLVSOn The Fly: Pre-market Movers
HIGHER: Wynn Resorts (WYNN), up 6.7% after reports indicate Chinese government may enact new policies to support Macau's economy. Shares of fellow Macau casino operators Las Vegas Sands (LVS) and MGM Resorts (MGM) are also higher in pre-market trading. UP AFTER EARNINGS: Micron (MU), up 3.3%... CalAmp (CAMP), up 9%. DOWN AFTER EARNINGS: Progress Software (PRGS), down 14.5%. ALSO LOWER: Valeant (VRX), down 4.5% after being downgraded to Equal Weight from Overweight at Morgan Stanley... Keurig Green Mountain (GMCR), down 3.4% after disclosing that its president of U.S. sales and marketing resigned... AIG (AIG), down 3% after being downgraded to Market Perform from Outperform at FBR Capital... Gilead (GILD), down 2% following a downgrade to Equal Weight at Morgan Stanley.
07:41 EDTLVSChina reported to mull new support for Macau, Bloomberg says
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07:35 EDTLVSMacau reports September casino revenue down 33% to 17.13B patacas
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October 1, 2015
16:19 EDTTHOThor Industries raises quarterly dividend to 30c per share from 27c per share
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13:04 EDTBBarnes Group acquires Priamus System Technologies, terms not disclosed
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September 30, 2015
09:31 EDTLVSLas 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).
07:42 EDTLVSMacau casinos have new concern with junket embezzlement scandal, WSJ says
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September 29, 2015
10:00 EDTGLWOn The Fly: Analyst Initiation Summary
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10:00 EDTTHOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Apache (APA) upgraded to Overweight from Neutral at Simmons... Autoliv (ALV) upgraded to Neutral from Sell at Goldman... Bristol-Myers (BMY) upgraded to Buy from Neutral at UBS... Bunge (BG) upgraded to Outperform from Market Perform at BMO Capital... Cerner (CERN) upgraded to Outperform from Sector Perform at RBC Capital... Continental AG (CTTAY) upgraded to Conviction Buy from Buy at Goldman... Digital Realty (DLR) upgraded to Overweight from Sector Weight at KeyBanc... FTD Companies (FTD) upgraded to Buy from Neutral at Sidoti... Intermolecular (IMI) upgraded to Outperform from Market Perform at Northland... Johnson & Johnson (JNJ) upgraded to Buy from Hold at Deutsche Bank... LDR Holding (LDRH) upgraded to Outperform from Market Perform at Northland... Lincoln National (LNC) upgraded to Overweight from Neutral at Piper Jaffray... McDonald's (MCD) upgraded to Outperform from Neutral at Credit Suisse... Micron (MU) upgraded to Outperform from Market Perform at Wells Fargo... Nautilus (NLS) upgraded to Buy from Neutral at B. Riley... Nevsun Resources (NSU) upgraded to Outperform from Sector Perform at Scotia... Nexstar (NXST) upgraded to Buy from Hold at Jefferies... Omega Protein (OME) upgraded to Buy from Neutral at DA Davidson... Raytheon (RTN) upgraded to Buy from Neutral at UBS... Republic Airways (RJET) upgraded to Buy from Hold at Deutsche Bank... Swiss Re (SSREY) upgraded to Neutral from Underweight at JPMorgan... Thor Industries (THO) upgraded on positive trends, checks at BMO Capital... Verint (VRNT) upgraded to Outperform from Market Perform at William Blair.
09:16 EDTACADLadenburg to hold a conference
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08:57 EDTTHOThor Industries upgraded on positive trends, checks at BMO Capital
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08:04 EDTGLWCorning initiated with a Neutral at Sterne Agee CRT
Target $19.
06:53 EDTLVSMacau casino shares drop as Neptune warns of VIP gamers, Reuters says
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06:16 EDTTHOThor Industries upgraded to Outperform from Market Perform at BMO Capital
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September 28, 2015
15:37 EDTLVSLas 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
07:50 EDTLVSUBS and Deutsche Bank to co-host a forum
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September 25, 2015
09:12 EDTACADLeerink biotech analyst holds an analyst/industry conference call
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08:02 EDTGLWCorning coverage assumed with a Neutral at Goldman
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