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Daily Highlights: 10/26/09

Mon, 26 Oct 2009 13:02:47 GMT

Asian shares were mostly higher Monday with S.Korean shares helped by upbeat economics.Bank failures in US exceed 100 for this year, most closings since 1992.China's September coal imports increase 7% from August as economy recoversOil prices slipped to near $80 a barrel in AsiaDollar falls versus Euro as recovery signs, stock gains sap safety demand.Japan to punish BNP Paribas's unit over convertible bond, share price manipulation.Japan's PM Hatoyama says recovery 'unpredictable,’ unemployment may worsen.S Korea's Q3 GDP rises 2.9% - fastest quarterly pace in more than seven years.SEC considering filing securities fraud charges against ICAP's US subsidiary.[More...]

Analyst Comments: AGIX, Scientific Games, Sohu.com, Barclays, COSI, Cleveland-Cliffs,Potash Corp, Freddie Mac, OSI Pharma

Wed, 08 Oct 2008 12:39:00 GMT

For those of you still holding onto AtheroGenics (AGIX), the research-based pharmaceutical company with two clinical-stage drug development programs (according to Zacks senior drug industry analyst Jason Napodano, CFA, who published a report on AGIX last week), the company has just announced today it has filed for Chapter 11 bankruptcy. The question now seems to be who, if anyone, will pick up the pieces of the late-phase candidates AGIX had been developing.? But for anyone shocked by today's announcement, they shouldn't be.? From the same AGIX report: "The company recently released phase III data on lead compound AGI-1067 that did not meet the primary end point." And this: "In September 2008 AtheroGenics announced it will not repay the its 4.5% Convertible Notes due September 2, 2008, nor will it make its scheduled[More...]

Analyst Comments: Garmin, Acergy, PeopleSupport, Calgon Carbon, Weatherford, Scientific Games, Philip Morris, Cleveland Bio

Tue, 30 Sep 2008 12:42:00 GMT

Garmin, Ltd. (GRMN) is an OEM (original equipment manufacturer) of GPS-based equipment. June quarter results were short of the consensus on both the top and bottom lines. All segments were up double-digits in 2007, and are expected to be up again in 2008. Pricing pressures continue to intensify, however, negating some of the growth in units. Management is optimistic about material prices offsetting ASP pressures in 2008. We see increasing revenue and gradually decreasing profitability for the company. However, being a market leader, the company should fare better than most of the other smaller players. Consequently, we view the declining share price as an opportunity to accumulate shares. We reiterate our BUY rating. Sejuti Banerjea contributed to this report. [More...]

Big Drop In Oil And A Big Rise In The Dollar Ignites Another Bear Rally.

Mon, 11 Aug 2008 06:57:00 GMT

How do we know it is a bear rally? Easy. Volume. Volume would not be heavy on the selloffs and light on the rebounds like it has been if this was real institutional investors. Besides that I ask you, if you were a bank or a mutual fund, would you be buying stocks knowing what kind of macro environment we are coming upon? I would think not.The biggest surprise to Friday’s trading is the complete reversal of action from Thursday. After Thursday ran right into the 50 and 200 DMA resistance points on various indexes, it sure seemed like the trend was ready to push lower. But just when the market looks like it wants to breakdown, it breaks upwards. That is what markets due in bear markets. They do this to throw the shorts off. They make the longs and bears look bad until eventually both give up (like I have done a while ago). This is the right thing for the market to do. But the problem belongs with traders. Most will get frustrated and leave the game behind.[More...]

Fewer Jobs Were Lost

Fri, 01 Aug 2008 15:53:00 GMT

Good morning. Investors are reacting to the jobs report where nonfarm payrolls fell by 51K in July (consenses expectations were at 70K) while the unemployment rate increased to 5.7% (a four-year high and above the 5.6% consensus expectation). Since Decemb[More...]

Few Thoughts and a Look at the Earnings in the Coming Week

Mon, 28 Jul 2008 05:15:00 GMT

WITH RESPECT TO THE US’ GDP GROWTH, THE NATIONAL BUREAU OF ECONOMIC RESEARCH SEES A SIGNIFICANT DECLINE IN ECONOMIC ACTITIVY SPREAD ACROSS THE ECONOMY, WHICH WILL LAST MORE THAN A FEW MONTHS - WSJ - According to Robert Hall, economist at Stanford University, US economic data that has been reported provide (...)[More...]

NASDAQ Technical Picture

Mon, 28 Jul 2008 05:15:00 GMT

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Analyst Comments: Terex, Interstate Hotels, Scientific Games, LTX Corporation, Weatherford

Thu, 03 Jul 2008 14:55:00 GMT

The U.S. mining equipment manufacturer Terex Corporation (TEX) reported first quarter EPS of $1.59, above our estimate of $1.35 and up 35.9% y-o-y, amid strong demand, higher margins and share repurchases. Going forward, volumes are expected to remain str[More...]

80 Stocks Returning 8%+ this Week

Mon, 28 Apr 2008 05:45:46 GMT

Our daily look into the weekly top gainers shows a big difference this week than most of the year - a lot of smaller issues in the $2-$3B market cap made the list and as I signaled mid week, we are seeing some return to the retailers, and financials. Last[More...]

Observations and Stocks for Friday - Apr 11 2008 12:51AM

Fri, 11 Apr 2008 04:45:46 GMT

The interview of the day is with Dmitry Medvedev. Russia’s president-elect talks in depth with FT editor Lionel Barber about the social and economic course for Russia.[More...]

CIT, Discover Financial, Intel are big movers

Wed, 15 Jul 2009 22:08:00 GMT

NEW YORK - Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market:
Shares were halted in late trading of the insurer as the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. debated whether to bail out the firm.
Scientific Games Corp., up 30 cents at $15.92

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Movers: GM, Ambac, Lehman Brothers, Chevron, Biogen, Elan, Cigna

Mon, 04 Aug 2008 14:48:00 GMT

General Motors (GM) posts $11.21 second quarter adjusted loss per share, vs. $2.29 EPS from continuing operations a year ago, on 18% revenue drop.
Chevron (CVX) posts $2.90, vs. $2.52, second quarter EPS on 48% revenue rise.
Sun Microsystems (JAVA) posts $0.35, vs. $0.50, fourth quarter non-GAAP EPS on 1.4% lower revenue.

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Scientific Games Chosen as Preferred Bidder for Hoosier Lottery Systems Contract

Wed, 26 Aug 2009 19:56:00 GMT

Scientific Games has announced that it has been chosen by the Hoosier Lottery as the preferred bidder to negotiate an integrated Lottery Gaming System contract, which includes a full suite of online and instant ticket pass through systems, as well as a new range of lottery equipment, including the 'next-generation' WAVE terminal. The contract begins August 2010, will have an initial term of six years, and will provide for four, one-year extension options. The contract was awarded after a competitive bid process with two other vendors, and base revenue to Scientific Games is expected to total approximately $12 million per year.[More...]

Scientific Games Awarded Vermont Lottery Primary Instant Ticket Contract

Thu, 20 Aug 2009 12:26:00 GMT

Scientific Games announced it has been selected as the primary vendor to supply instant tickets for the Vermont Lottery, upon completion of an open and competitive procurement process. The contract, which is expected to begin January 16, 2010, has an initial term of two years with two one-year extension options. Revenue to Scientific Games is based on a price per thousand and is estimated to total approximately $1 million per year.[More...]

Scientific Games Awarded New Arkansas Instant Ticket Contract

Fri, 14 Aug 2009 12:26:00 GMT

Scientific Games announced it has been selected as the cooperative services provider and the primary vendor to supply instant tickets to the newly formed Arkansas Scholarship Lottery, upon completion of an open and competitive procurement process. The contract begins in August 2009, has an initial term of seven years and includes three one-year contract extension options. Scientific Games will handle the manufacturing, warehousing and distribution of instant tickets and will be compensated based on a percentage of instant ticket retail sales.[More...]

Scientific Games Announces Second Quarter 2009 Results

Thu, 30 Jul 2009 21:46:00 GMT

Signed an agreement to accelerate the termination of our lottery systems contract in Mexico
Second quarter 2009 revenue was $225.0 million compared to $306.0 million in the second quarter of 2008.
The decline in year-over-year revenue was primarily attributable to $25.1 million of lower hardware and software sales in the Company's Lottery Systems and Diversified Gaming Groups, $15.5 million from the negative impact of foreign exchange rates, $12.7 million from the impact of operating under the revised terms of previously announced lottery contract awards, $11.6 million due to China instant tickets now being produced in China by our joint venture, a $9.2 million decline in sales in our licensed properties division, and a $6.2 million decline in phone card sales.

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Scientific Games Amends Loteria Electronica Lottery Systems Contract to Include Instant Tickets and Cooperative Services in Puerto Rico

Thu, 30 Jul 2009 21:24:00 GMT

-- Scientific Games announced that it has amended its online lottery system and marketing contracts with Loteria Electronica de Puerto Rico to include the supply of instant tickets and cooperative services. The amendment begins July 2009 and will run for the remainder of the lottery systems contract through 2012, with options to extend for two additional two-year increments. The company will handle the manufacturing and distribution of instant tickets throughout Puerto Rico, including shipping, warehousing, telemarketing, distribution and will advise on game design and marketing issues as well as support on retail network optimization and expansion. Revenues to Scientific Games for this contract will be based on a percentage of total lottery sales .[More...]

Scientific Games, Inc. Sued A Second Time By Gameologist Group LLC For Another Willful Infringement On The BLING BLING Trademark With State Lottery

Thu, 30 Jul 2009 14:10:00 GMT

Balestriere Lanza PLLC announced today that its client, the Gameologist Group LLC , a New Jersey based and minority-owned small business, filed a lawsuit in New York Supreme Court against Scientific Games, Inc. seeking to prevent Scientific from deliberately infringing on the BLING BLING Trademark. This is the second such lawsuit that Gameologist has filed against Scientific for its infringement on the BLING trademark.[More...]

Balestriere Lanza PLLC Announces Second Lawsuit by Gameologist Group LLC Against Scientific Games, Inc. for Another Willful Infringement on the Bling Bling Trademark With State Lottery

Thu, 30 Jul 2009 11:55:00 GMT

NEW YORK, NY -- -- 07/30/09 -- Balestriere Lanza PLLC announced today that its client, the Gameologist Group LLC , a New Jersey based and minority-owned small business, filed a lawsuit in New York Supreme Court against Scientific Games, Inc. seeking to prevent Scientific from deliberately infringing on the BLING BLING Trademark. This is the second such lawsuit that Gameologist has filed against Scientific for its infringement on the BLING trademark.[More...]

Scientific Games Awarded Delaware State Lottery Sports Wagering System Contract

Wed, 29 Jul 2009 22:19:00 GMT

Scientific Games announced that it has been awarded the contract to operate the Delaware State Lottery Sports Wagering System and Bookmaking Services, which includes a statewide network of lottery sports wagering terminals at the three racetracks , connected through a central processing system, with supporting sports book services. The system will provide communications, monitoring, sports book risk management, and accounting services for the lottery sports wagering operation. Scientific Games was chosen with the highest point total in all evaluation categories in a competitive procurement process. The contract begins in the third quarter of this year, will have an initial term of six years and will provide for four one-year extension options.[More...]

Scientific Games to Release Second Quarter Results July 30, 2009 Conference Call July 31, 2009 at 8:30AM EDT

Mon, 20 Jul 2009 12:25:00 GMT

Scientific Games plans to release financial results for the second quarter ended June 30, 2009 on July 30, 2009 after market close. The conference call is scheduled for July 31, 2009 at 8:30 AM Eastern Time.To access the call live via webcast, please visit www.scientificgames.com and click on the webcast link under the Investors tab. To access the call by telephone, please dial 396-2356 or 847-8709 fifteen minutes before the start of the call. The Conference ID# is 61696901. The call will be archived for replay on the Company's website for 30 days.About Scientific GamesScientific Games Corporation is a leading integrated supplier of instant tickets, systems and services to lotteries worldwide, a leading supplier of server based gaming machines and systems, Amusement and Skill with Prize betting terminals, interactive sports betting terminals and systems, and wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut, Maine and the Netherlands and is a leading supplier of prepaid phone cards to telephone companies. Scientific Games' customers are in the United States and more than 60 other countries. For more information about Scientific Games, please visit our web site at www.scientificgames.com. Company Contact:[More...]

Scientific Games Awarded Contract With Ladbrokes

Wed, 15 Jul 2009 12:27:00 GMT

Scientific Games announced its wholly owned subsidiary The Global Draw Ltd, has been awarded a three year contract to supply multi-game server based gaming terminals to 78 Ladbrokes betting shops in the United Kingdom, which will house approximately 302 terminals.Ladbrokes operates more than 8,100 gaming machines in its 2,170 betting shops in Great Britain and Northern Ireland. Under the terms of the deal, The Global Draw will provide its full turn-key solution incorporating the company's back office management system and its Nevada dual screen gaming terminals, which provide a wide range of B2 and B3 gaming content all fully supported and maintained by a dedicated team of field service engineers.The long-term contract represents the first time the two companies have worked together and allows for The Global Draw to supply further machines to the Ladbrokes estate in the future depending on performance.Previously Ladbrokes has had a sole gaming machine supplier, but the Company is now moving to a portfolio of suppliers to increase the range of content available to customers, with The Global Draw first to sign an agreement.Richard Ames, managing director of Ladbrokes Retail, said: 'The betting industry is highly competitive and machines are an increasingly important part of the customer offer. This agreement with The Global Draw means that over time we will be able to offer new machines and new games to a number of our customers and continue to improve machine performance within our retail estate.'Phil Horne, managing director of The Global Draw, added: 'We are proud of the gaming solution and high quality standard of service we offer our customers. Adding Ladbrokes to our portfolio is hugely satisfying and makes us the only operator to have installations with all of the country's major bookmakers. We very much look forward to working together.'The Global Draw is a leading supplier of dual screen B2/B3 gaming machines to the UK betting shop industry with more than 12,500 terminals operating in around 3,400 shops.About Scientific GamesScientific Games Corporation is a leading integrated supplier of instant tickets, systems and services to lotteries worldwide, a leading supplier of server based gaming machines and systems, Amusement and Skill with Prize betting terminals, interactive sports betting terminals and systems, and wagering systems and services to pari-mutuel operators. It is also a licensed pari-mutuel gaming operator in Connecticut, Maine and the Netherlands and is a leading supplier of prepaid phone cards to telephone companies. Scientific Games' customers are in the United States and more than 60 other countries. For more information about Scientific Games, please visit our web site at www.scientificgames.com. Company Contact:[More...]