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Stock Market & Financial Investment News

News Breaks
March 28, 2014
09:30 EDTCZR, PENN, LVS, MGM, WYNN, BYDNevada reports February gaming win down 13.7% to $926.08M
Nevada reports Las Vegas Strip February gaming win down 20.2% to $555.67M. 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).
News For WYNN;LVS;BYD;MGM;PENN;CZR From The Last 14 Days
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March 18, 2015
16:23 EDTMGMMGM Resorts initiated with a Buy at Brean Capital
Target $27.
16:00 EDTMGMOptions Update; March 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.20 to 26.10. Option volume leaders: AAPL RAD PBR TWTR FB TSLA CLF BP MGM according to Track Data.
10:00 EDTLVS, MGM, WYNNOn The Fly: Analyst Downgrade Summary
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09:13 EDTMGMMGM Resorts potential REIT conversion would unlock value, says Morgan Stanley
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08:28 EDTLVS, LVSLas Vegas Sands downgraded to Outperform from Buy at CLSA
CLSA downgraded Las Vegas Sands to Outperform and lowered its price target to $60 from $80 as part of Macau sector downgrade to reflect disappointing run rates year-to-date and expectations for more negative newsflow. See sector note for further information.
08:28 EDTWYNN, WYNNWynn Resorts downgraded to Outperform from Buy at CLSA
CLSA downgraded Wynn Resorts to Outperform and lowered its price target to $140 from $264 as part of Macau sector downgrade to reflect disappointing run rates year-to-date and expectations for more negative newsflow. See sector note for further information.
08:28 EDTMGM, MGMMGM Resorts downgraded to Outperform from Buy at CLSA
CLSA downgraded MGM Resorts to Outperform and lowered its price target to $25 from $29 as part of Macau sector downgrade to reflect disappointing run rates year-to-date and expectations for more negative newsflow. See sector note for further information.
08:24 EDTMGM, MGM, WYNN, WYNN, LVS, LVSMacau sector downgraded at CLSA
CLSA downgraded the Macau sector given disappointing run rates year-to-date and expectations for more negative newsflow. The firm said the anti-corruption campaign continues to pressure VIP and premium mass customer visits. CLSA now expects 2015 EBITDA growth of -26%, lowered its view of VIP growth to -32% from -14%, reduced mass growth to -17% from -2%, and now expects new Cotai projects ROIC to average only +18, down from +35% previously. As part of the sector view change, the firm downgraded Las Vegas Sands (LVS), MGM Resorts (MGM), and Wynn Resorts (WYNN) to Outperform from Buy.
07:15 EDTCZRCaesar's says disputes raise 'substantial doubt' about 'going concern' status
Caesar's stated in a regulatory filing after the close Monday that the company is subject to currently pending or threatened litigation and demands for payment by certain creditors asserting CEC is obligated under the former parent guarantee of certain CEOC defaulted debt. The litigation pending against CEOC, and in certain cases against CEC and its other subsidiaries, have been stayed due to the Chapter 11 bankruptcy process, however, certain litigation and the demands against CEC are continuing outside of the Chapter 11 bankruptcy process. "We believe that the Litigation claims and Demands against CEC are without merit and intend to defend ourselves vigorously. At the present time, we believe it is not probable that a material loss will result from the outcome of these matters," Caesar's stated. The noteholder disputes are in their very preliminary stages and discovery has begun on the unsecured note lawsuits, the company noted. "Should these matters ultimately be resolved through litigation outside of the CEOC Financial Restructuring, and were a court to find in favor of the claimants in any of these Noteholder Disputes, such determination could have a material adverse effect on our business, financial condition, results of operations, and cash flows. Accordingly, we have concluded that the material uncertainty related to certain of the Litigation proceeding against CEC raises substantial doubt about the company’s ability to continue as a going concern," Caesar's added.
05:55 EDTMGMStocks with implied volatility movement; MGM CY
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March 17, 2015
16:26 EDTMGMOn The Fly: Closing Wrap
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16:00 EDTMGMOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
10:11 EDTMGMMGM Resorts trades sharply higher as activist suggests REIT conversion
Land and Buildings laid out a proposal to unlock value in the shares by pursuing a REIT conversion at MGM Resorts. At the current price of $21.36, the stock is up over 8.6%. Resistance initially is at the session high at $21.50, and then at $21.76. Support is at the 50-day moving average at $20.73.
09:25 EDTMGMLand and Buildings proposes REIT conversion for MGM Resorts
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March 16, 2015
13:11 EDTWYNNWynn Resorts urges holders to vote the WHITE proxy card
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12:29 EDTWYNNElaine Wynn urges Wynn Resorts investors to take no action on proxy card
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10:02 EDTWYNNOn The Fly: Analyst Downgrade Summary
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09:37 EDTLVSActive equity options trading on open
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08:01 EDTWYNNWynn Resorts downgraded to Equal Weight from Overweight at Morgan Stanley
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06:07 EDTCZRStocks with implied volatility above IV index mean; BBRY CZR
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