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Stock Market & Financial Investment News

News Breaks
February 26, 2013
13:36 EDTBYD, LVS, ZNGA, MPEL, CZR, HOT, PENN, WYNN, MGMNJ online-gambling bill expected to be signed today, WSJ reports
New Jersey governor Chris Christie is expected to sign a new law allowing online gambling in the state, according to a Wall Street Journal report that says the bill is expected to be signed shortly before or after the governor's state budget address scheduled for 3:00 pm ET this afternoon. Reference Link
News For ZNGA;MGM;HOT;LVS;WYNN;CZR;BYD;PENN;MPEL From The Last 14 Days
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April 9, 2015
13:09 EDTZNGAOn The Fly: Midday Wrap
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09:36 EDTLVS, ZNGAActive equity options trading on open
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09:31 EDTHOTStarwood downgraded to Neutral from Buy at Cleveland Research
09:27 EDTZNGAOn The Fly: Pre-market Movers
HIGHER: Pier 1 Imports (PIR), up 5.8% after earnings beat estimates, dividend boosted, and shares upgraded at Wedbush... Novogen (NVGN) rose after announcing that Australian studies revealed its experimental drug, Anisina, killed melanoma cells irrespective of their mutational status. Shares of small-cap Novogen rose 35% in pre-market trading following the company's report on the studies... TASER (TASR), up 3.8% after announcing UK order from London for 178 AXON body cameras... United Continental (UAL), up 2.8% after narrowing Q1 PRASM forecast... Walgreens Boots Alliance (WBA), up 2.4% after reporting Q2 results. LOWER: Zynga (ZNGA), down 12% after announcing last night that current CEO Don Mattrick will depart the company and the board and Mark Pincus, Zynga's founder and chairman, will return to the role of CEO... Alcoa (AA), down 2% after reporting Q1 financial results and giving 2015 guidance... Cliffs Natural (CLF), down 4.6% after BMO Capital cut it rating to the equivalent of sell and halved its price target on the stock to $4.
08:31 EDTMGMMGM Resorts and Infinity World announce approval of $400M special dividend
MGM Resorts and Infinity World Development announced a special dividend and the adoption of an annual distribution policy by CityCenter Holdings. CityCenter approved a $400M special dividend, which will be paid on or about April 30, 2015. The owners will each receive $200M, representing their pro rata share. In addition, CityCenter has approved the adoption of a regular dividend policy pursuant to which it will make annual distributions of up to 35% of excess cash flow subject to approval by the CityCenter board.
08:27 EDTZNGANeedham sees little to be positive about in Zynga news
Needham thinks "very little" in Zynga's CEO transition can be construed positively. It notes the founder, who was replaced less than two years ago after a poorly executed IPO and subsequent revenue decline, is being brought back to replace a more recent CEO whose turnaround efforts it views as "having been incomplete at best." The firm suspended its rating on Zynga amid uncertainty over the company's fundamental prospects.
07:55 EDTZNGAZynga core thesis remains unchanged, says UBS
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06:00 EDTHOTStarwood implied volatility of 40 at upper end of index
05:57 EDTZNGAStocks with implied volatility above IV index mean; ZNGA ALU
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April 8, 2015
19:46 EDTZNGAOn The Fly: After Hours Movers
UP AFTER EARNINGS: Apogee (APOG), up 6.4%... Pier 1 Imports (PIR), up 4.4%. ALSO HIGHER: Inovio Pharmaceuticals (INO), up 5.6% after being selected by DARPA to lead $45M Ebola prevention program. DOWN AFTER EARNINGS: Alcoa (AA), down 3.5%... Bed Bath & Beyond (BBBY), down 3.5%. ALSO LOWER: Zynga (ZNGA), down 10.3% after announcing CEO transition... Memorial Production (MEMP), down 2.9% after filing to sell 4.6M common units owned by MRD Holdco... Regulus (RGLS), down 2.2% after filing to sell 3.3M shares for Isis Pharmaceuticals.
16:37 EDTZNGAZynga down 8% after announcing CEO transition
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16:17 EDTZNGAZynga CEO Mark Pincus statement regarding return
"Don joined us in a very important time in our evolution. I sincerely thank him for his leadership in better serving our players in a mobile first world and for delivering world class quality and value to our consumers," said Mark Pincus. "The team's hard work for our mobile players has resulted in bookings growing from 27% mobile bookings when Don joined to 60% by the end of last year. Further, to deliver unique and differentiated value to our mobile players, Don and the team acquired NaturalMotion. NaturalMotion has surprised and delighted the world with Clumsy Ninja and CSR Racing resulting in more than 160 million installs to date. I am inspired by our upcoming products it is the most exciting slate of mobile games in Zynga's history with titles like Empires & Allies, Dawn of Titans and FarmVille: Harvest Swap. These games are coming on the heels of one of the most successful mobile launches in our history with Wizard of Oz Slots, which was launched this past November by our Spooky Cool team in Chicago." Pincus continued, "Now that we are a mobile first company, it's time to renew our focus on our founding mission to connect the world through games and our vision to make play and social games a mass market activity. I am returning to the company that I love in order to accelerate innovation in the most popular categories like Action Strategy and strengthen our focus on our core areas like Invest and Express. I look forward to partnering with our leaders to intensify our focus on social experiences for the millions of consumers who play our games." At his request, Pincus will receive an annual salary of $1 in connection with his appointment to CEO.
16:14 EDTZNGAZynga to resume trading at 4:35pm ET
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16:12 EDTZNGAZynga CFO says Q1 was a 'strong quarter'
"Q1 was a strong quarter and we are confident in the outlook we gave during our Q4 2014 earnings call on February 12, 2015. Our teams are heads down and focused on our mobile-first product slate and we will be sharing details related to our product progress and financial performance during our Q1 earnings call on May 7, 2015," said David Lee, CFO, Zynga.
16:05 EDTZNGAZynga CEO Don Mattrick to depart; Mark Pinus to return to CEO role
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16:05 EDTZNGAZynga CEO Don Mattrick to depart; Mark Pinus to return to CEO role
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16:00 EDTZNGAZynga trading halted, pending news
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April 7, 2015
07:48 EDTHOTStarwood volatility elevated
Starwood April call option implied volatility is at 44, May is at 38, August is at 29; compared to its 26-week average of 24 according to Track Data, suggesting large near term price movement.
April 6, 2015
05:15 EDTWYNNElaine Wynn recommends holders 'WITHHOLD' their votes for company nominees
Elaine Wynn, co-founder, board member and third-largest stockholder of Wynn Resorts, commented on the recommendation from Institutional Shareholder Service, or ISS, that Wynn stockholders WITHHOLD their vote for management's nominees for the Wynn Resorts board at the upcoming 2015 Annual Meeting. In response, Elaine Wynn has issued the following statement: "I believe the stockholders of Wynn Resorts deserve better than the choices presented to them by the company this proxy season, and the only way to achieve meaningful value creation for my fellow stockholders is to vote the GOLD card FOR my reelection at the upcoming Annual Meeting. The ISS report raises a number of important concerns about the performance of the board. I firmly believe my judgment, considerable experience, important diversity and willingness to challenge the status quo makes me the best positioned candidate to guard and grow stockholders' interest and identify additional diverse candidates with independent voices, As the third largest stockholder, my interests inextricably align with my fellow stockholders, giving me a unique perspective on protecting and increasing the value of our collective investment in the future. The company, by contrast, continues to disseminate comments designed to obscure the truth, as they did tonight in their statement on the ISS recommendation, and it is my hope that other stockholders recognize my value and vote FOR my reelection using the GOLD proxy card."
05:10 EDTWYNNISS recommends Wynn Resorts holders vote against Elaine Wynn
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