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Stock Market & Financial Investment News

News Breaks
May 21, 2014
11:06 EDTPENN, LVS, IGT, MGM, WYNN, CZR, BYDAmerican Gaming Association drops support for online gambling, WSJ says
American Gaming Association head Geoff Freeman said in an interview that the disagreements among casinos has made online gambling, "an issue that the association cannot lead on," says the Wall Street Journal. Citing a "nasty" rift among major casino operators, the American Gaming Association has dropped its support for legalizing online gambling, added the Wall Street Journal. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN), International Game Technology (IGT), and Wynn Resorts (WYNN). Reference Link
News For WYNN;LVS;BYD;MGM;PENN;CZR;IGT From The Last 14 Days
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August 31, 2015
05:37 EDTMGMHulu, Epix announce extensive multi-year agreement
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August 28, 2015
09:34 EDTBYD, PENN, MGM, LVS, WYNN, CZRNevada 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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06:03 EDTWYNNWynn Resorts implied volatility of 63 at upper end of index
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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
16:01 EDTLVSOptions Update; August 21, 2015
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07:17 EDTMGM, WYNN, LVSMacau developments negative, says Wells Fargo
Wells Fargo says that its checks on Macau for August indicate that the region's revenues are trending flat to down this month. According to Wells, in August the region's revenues are historically up 4% versus July. The firm adds that comments by Macau casino owner Galaxy suggest that the market has not yet bottomed. Wells believes that the market has not yet stabilized and remains neutral on Macau stocks, although it remains upbeat on their long-term outlook. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN).
August 20, 2015
15:09 EDTPENNPenn National obtains final approval for $360M Tropicana Las Vegas transaction
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August 19, 2015
10:00 EDTIGTOn 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 EDTIGTInternational Game 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 EDTIGTOn 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.
10:00 EDTIGTOn The Fly: Analyst Downgrade Summary
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09:13 EDTIGTInternational Game initiated with a Buy at Union Gaming
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07:13 EDTWYNN, MGM, LVSMacau GGR poised to sink 37% in August, says Bernstein
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August 17, 2015
16:26 EDTIGTInternational Game downgraded to Underperform from Neutral at Sterne Agee CRT
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16:11 EDTIGTInternational Game awarded pivotal multi-hand poker U.S. patent
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