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Stock Market & Financial Investment News

News Breaks
April 26, 2012
09:49 EDTCZR, ZNGA, SGMSNY lottery's push toward online sales stalled, WSJ says
The New York State lottery's push to sell lottery tickets over the Internet has stalled, in one prominent battle that is part of broader struggle among state lotteries, casino operators, Internet companies and convenience stores that could determine how online gambling takes shape in the U.S., according to the Wall Street Journal. The report highlights Scientific Games (SGMS), Zynga (ZNGA) and Caesars Entertainment (CZR) among companies looking to move into or win business in this area. Reference Link
News For SGMS;ZNGA;CZR From The Last 14 Days
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August 28, 2015
09:34 EDTCZRNevada reports July statewide gaming win down 0.96% to $922.89M
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06:50 EDTCZRJudge says Caesars, bondholders should prepare for trial, WSJ reports
A federal judge said that Caesars Entertainment and a group of bondholders should prepare for hearings in a suit over Caesars' guarantees of billions of dollars of debt, the Wall Street Journal reports. Judge Shira A. Scheindlin of the U.S. District Court in Manhattan said that there is a discrepancy as to whether a series of asset moving deals last year constituted an out-court debt reorganization that proved harmful to the holders of over $6B in bond debt issued by Caesars, the report says. Reference Link
August 27, 2015
10:57 EDTCZRCaesars bondholders denied immediate ruling by judge, Bloomberg reports
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August 24, 2015
07:38 EDTCZRCaesars to pay $20M to settle anti-money laundering lapses charges, Reuters says
Caesars Entertainment has agreed to pay $20M to settle claims of anti-money laundering lapses, Reuters reports, citing a source familiar with the matter. The company will also enter into a deferred prosecution agreement with the DOJ, the report says. Reference Link
August 23, 2015
14:49 EDTCZRCaesars reaches restructuring support agreement with first lien bank lenders
Caesars Entertainment and Caesars Entertainment Operating Co. announced they have entered into a bank restructuring support agreement. The agreement, which is effective immediately, "secures the support" of CEOC's largest and most senior creditor constituencies and represents a "key milestone" in Caesars Entertainment and CEOC's efforts to implement a consensual restructuring of CEOC, according to Caesars. "CEOC's restructuring is now supported by CEOC's first lien bank lenders and first lien bondholders, which represent the most senior $12B of CEOC's capital structure," said the company. Caesars and CEOC continue to engage in discussions with junior creditors to build additional support for the previously announced second lien restructuring agreement. "However, the senior creditors' support of today's agreement paves the way toward a confirmable plan for the restructuring of CEOC," commented Caesars. The bank RSA is substantially similar to the previously announced bond RSA.
August 21, 2015
05:13 EDTSGMSScientific Games wins five-year instant games contract with Montana Lottery
Scientific Games announced that the company has signed a new contract to provide instant games and related services to the Montana Lottery. Awarded through a competitive procurement process, the five-year contract began August 8 and may be extended by the Lottery for an additional two years.
August 19, 2015
10:00 EDTSGMSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.
06:22 EDTSGMSScientific Games initiated with a Sell at Goldman
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August 18, 2015
19:47 EDTCZRCaesars creditors give ultimatum to Apollo Global, Bloomberg says
Earlier this month, creditors opposed to Caesars Entertainment's (CZR) bankruptcy plan demanded that Apollo Global (APO) -- one of the company's owners -- relinquish control of the bankrupt unit's parent company, reports Bloomberg, citing two people with knowledge of the matter. In exchange, the creditors offered to withdraw several lawsuits related to the bankruptcy, said the sources. Apollo rejected the ultimatum, though sources noted that talks are continuing. Reference Link
10:00 EDTSGMSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abercrombie & Fitch (ANF) initiated with an Underperform at Wolfe Research... Abiomed (ABMD) initiated with a Buy at CRT Capital... Aeropostale (ARO) initiated with a Peer Perform at Wolfe Research... American Eagle (AEO) initiated with an Outperform, Top Pick at Wolfe Research... American Electric (AEP) initiated with a Buy at Mizuho... Benefitfocus (BNFT) initiated with an Overweight at First Analysis... Blue Buffalo Pet Products (BUFF) initiated with an Equal Weight at Morgan Stanley... Capitala Finance (CPTA) initiated with an Equal Weight at Stephens... Chico's (CHS) initiated with a Peer Perform at Wolfe Research... Children's Place (PLCE) initiated with an Outperform at Wolfe Research... Chimerix (CMRX) initiated with an Outperform at FBR Capital... Ciena (CIEN) initiated with a Market Perform at Northland... Crane (CR) initiated with an Outperform at William Blair... Entergy (ETR) initiated with a Neutral at Mizuho... Express (EXPR) initiated with an Outperform, Top Pick at Wolfe Research... Finisar (FNSR) initiated with a Market Perform at Northland... Francesca's (FRAN) initiated with a Peer Perform at Wolfe Research... Gap (GPS) initiated with an Underperform at Wolfe Research... Infinera (INFN) initiated with an Outperform at Northland... International Game (IGT) initiated with a Buy at Union Gaming... Juno Therapeutics (JUNO) initiated with an Outperform at FBR Capital... L Brands (LB) initiated with a Peer Perform at Wolfe Research... Luca Technologies (LUCA) initiated with an Outperform at Northland... Lumentum (LITE) initiated with an Outperform at Northland... M/A-COM (MTSI) reinstated with a Buy at Jefferies... MRV Communications (MRVC) initiated with an Outperform at Northland... Michael Kors (KORS) initiated with a Peer Perform at Wolfe Research... NN, Inc. (NNBR) initiated with a Buy at Stifel... NeoPhotonics (NPTN) initiated with an Outperform at Northland... Oclaro (OCLR) initiated with an Outperform at Northland... Scientific Games (SGMS) initiated with a Buy at Sterne Agee CRT... SolarCity (SCTY) initiated with a Neutral at UBS... Summit Materials (SUM) initiated with a Neutral at Citi... Tech Data (TECD) initiated with an Underperform at BofA/Merrill... Urban Outfitters (URBN) initiated with a Peer Perform at Wolfe Research... Zumiez (ZUMZ) initiated with an Underperform at Wolfe Research... lululemon (LULU) initiated with a Peer Perform at Wolfe Research.
09:13 EDTSGMSScientific Games initiated with a Hold at Union Gaming
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August 17, 2015
16:24 EDTSGMSScientific Games initiated with a Buy at Sterne Agee CRT
Target $18.
August 14, 2015
13:03 EDTCZROmega Advisors gives quarterly update on stakes, discloses stake in Google
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12:29 EDTZNGAKing Digital sinks after posting weaker than expected network metrics
Shares of King Digital (KING), an interactive entertainment company for the mobile world, are sinking after the company reported weaker than expected network metrics in the second quarter. WHAT'S NEW: After the close on Thursday, King Digital reported Q2 adjusted earnings per share of 49c and revenue of $500M, ahead of analysts' consensus estimates of 43c and $490.03M, respectively. King reported Q2 total gross bookings of $529M, above the high end of its previously provided guidance range, but down 12% sequentially and 13% year over year. Excluding the impact of changes in foreign exchange rates, King said gross bookings would have decreased by approximately 11% sequentially, and by approximately 6% y/y. King noted that 81%, or $430M, of gross bookings were derived from the mobile audience. The company said "Candy Crush Saga," "Candy Crush Soda Saga" and "Farm Heroes Saga" ranked within the top 10 grossing games in App Store and Play Store in the U.S. during Q2. King said its monthly unique users fell 1% to 340M in Q2, down from 345M last year, while monthly active users were 501M vs. 485M last year; daily active users were 142M in Q2 vs. 138M last year. The company said year-over-year increases in monthly active users and daily active users were primarily due to the introduction of new games, particularly "Candy Crush Soda Saga," partially offset by decline in "Candy Crush Saga" and other more mature games. It said increases also reflect growth in activity from mobile players, partially offset by continued decrease in activity from Facebook (FB) players. WHAT'S NOTABLE: Looking ahead, King Digital said it expects gross bookings in the third quarter of $460M-$485M based on the timing of game releases and recent trends. The company sees fourth quarter bookings "fairly consistent sequentially." ANALYST REACTION: This morning, JPMorgan analyst Doug Anmuth downgraded King Digital Entertainment to Neutral from Overweight citing an elevated risk profile following the company's Q2 results. King's network metrics were weaker than expected while a key component of the company's pipeline, the upcoming mid-core game, is pushed to 2016, Anmuth said. He cut the price target for shares to $17 from $20. PRICE ACTION: In early afternoon trading, King Digital fell $1.81, or 11.84%, to $13.40 on nearly four times its average daily trading volume. Including today's pull back, the shares have lost approximately 3% over the past year. OTHERS TO WATCH: Other companies in the mobile gaming space include Glu Mobile (GLUU), Zynga (ZNGA), Shanda Games (GAME), Activision Blizzard (ATVI), Electronic Arts (EA) and Take-Two Interactive (TTWO).

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