Based Eldorado Resorts buying Isle of Capri Casinos

Sep 24, 2016, 00:34
Based Eldorado Resorts buying Isle of Capri Casinos

Stifel Nicolaus has downgraded Isle of Capri Casinos (NASDAQ:ISLE) to Hold in a report released on 09/20/2016. Tech companies also rose.

Eldorado Resorts has agreed to buy Missouri-based Isle of Capri Casinos for $1.7 billion in combined stocks and cash, a move that will add 13 casino-resorts to the Reno-based company's portfolio. Brent crude, used to price global oils, rose 92 cents, or 2 percent, to $46.66 a barrel in London. Global stock markets started the new trading week strongly Monday, Sept. 19, 2016, as investors appeared to put last week's jitters behind them as they awaited the outcome of the latest policy meetings of the U.S. Federal Reserve and Bank of Japan later this week.

Isle of Capri Casinos, Inc.is a developer, owner and operator of branded gaming facilities and related dining, lodging and entertainment facilities in regional markets in the United States. JPMorgan Chase rose 37 cents to $66.19 and Wells Fargo regained 58 cents, or 1.3 percent, to $46.01. American International Group Inc. now owns 14,398 shares of the company's stock valued at $264,000 after buying an additional 1,400 shares in the last quarter.

As InvestorPlace reported earlier today, "Eteplirsen, otherwise known as Exondys 51, has been approved for the treatment of Duchenne muscular dystrophy, particularly in patients with a rare form of DMD". Schlanger is being replaced by President Steven Zatz, who is in charge of WebMD's advertising and sponsorship business. The transaction consideration represents an approximate 36% premium over the closing share price of Isle of Capri on September 16, 2016. (NYSE:MGT) [Trend Analysis] moved down reacts as active mover, shares a loss -22.70% to traded at $2.52 and the percentage gap among open changing to regular change was -5.83%. Microsoft picked up 47 cents to $57.72 and IBM added $2.32, or 1.5 percent, to $156.16.

USA government bond prices slipped. The transaction is expected to be right away accretive to Eldorado's free cash flow and diluted earnings per share, inclusive of identified cost synergies of about $35 million in the first year following the completion of the transaction and giving effect to Isle's formerly declared divestiture of Isle of Capri Casino Hotel Lake Charles.

1 Year Target estimate of U.S. Bancorp is $44.88. The euro rose to $1.1177 from $1.1165.

Gold rose $7.60 to $1,317.80 an ounce. 1 analysts call it Overweight, while 0 think it is Underweight. South Korea's Kospi added 0.8 percent and Hong Kong's Hang Seng index rose 0.9 percent. (NASDAQ:ISLE) [Trend Analysis] swings ardently in active trading session, it increases of 30.18% to close at $22.04. Australia's stock market suspended trading after a couple of hours due to technical glitches.

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