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BX

Blackstone

$47.13

0.61 (1.31%)

, MGM

MGM Resorts

$27.88

-0.09 (-0.32%)

16:11
10/15/19
10/15
16:11
10/15/19
16:11

MGM Resorts sells Bellagio to Blackstone for $4.25B in sale-leaseback deal

Blackstone Real Estate Income Trust (BX), and MGM Resorts (MGM) announced that BREIT and MGM Resorts will form a 95%/5% BREIT-led joint venture to acquire the real estate assets of the Bellagio for $4.25B in a sale-leaseback transaction. As part of the transaction, MGM Resorts will lease the property from the joint venture and continue to manage, operate and be responsible for all aspects of the property on a day-to-day basis. MGM Resorts will sign a long-term lease and continue to be responsible for all operations and capital expenditures of the Bellagio, with the joint venture owning the property and receiving rent payments.

BX

Blackstone

$47.13

0.61 (1.31%)

MGM

MGM Resorts

$27.88

-0.09 (-0.32%)

  • 23

    Oct

  • 30

    Oct

BX Blackstone
$47.13

0.61 (1.31%)

10/08/19
10/08/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Target (TGT) initiated with a Strong Buy at Raymond James . 2. Tyler Technologies (TYL) initiated with an Outperform rating at Oppenheimer. 3. Kirkland Lake Gold (KL) initiated with a Neutral rating at Credit Suisse. 4. Blackstone (BX) and BlackRock (BLK) initiated with a Market Perform at BMO Capital. 5. Floor & Decor (FND) initiated with a Strong Buy at Raymond James. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/14/19
BOFA
10/14/19
DOWNGRADE
BOFA
Neutral
Blackstone downgraded to Neutral from Buy at BofA/Merrill
10/14/19
BOFA
10/14/19
DOWNGRADE
Target $52
BOFA
Neutral
BofA gets more selective in alternative asset managers, downgrades Blackstone
BofA Merrill Lynch analyst Michael Carrier downgraded Blackstone (BX) to Neutral from Buy with a price target of $52, down from $54, stating that he is getting a bit more selective within the alternative asset managers sector since valuation multiples have moved higher so far this year while estimates have moved lower. Despite his view that the firm is structurally very well positioned over the long-term, he sees more modest upside for the stock from here and prefers others with a higher portion of fee related earnings of that have upcoming fundraising catalysts, Carrier tells investors. To reflect a more typical level of fundraising ahead and the potential for slightly lower than expected realizations if geopolitical risks linger, Carrier also trimmed his price target for Ares Management (ARES) to $31 from $32 and lowered his target for target for KKR (KKR) shares to $31 from $32.
10/15/19
SBSH
10/15/19
DOWNGRADE
Target $19.5
SBSH
Neutral
Tallgrass Energy downgraded to Neutral from Buy at Citi
Citi analyst Timm Schneider downgraded Tallgrass Energy (TGE) to Neutral from Buy with a price target of $19.50, down from $23. After "some market jitters last week," Blackstone (BX) and Tallgrass Energy both released statements confirming the take-private offer is still alive and in front of the conflicts committee, Schneider tells investors in a research note. He believes Tallgrass units are worth ~$19 fundamentally after adjusting for the recent lowered Pony tariffs. With the lower contributions from Pony Express, the analyst assumes a one-time dividend cut of ~25% to an annualized $1.68 per share taking place in Q1 of 2020.
MGM MGM Resorts
$27.88

-0.09 (-0.32%)

08/02/19
BOFA
08/02/19
DOWNGRADE
Target $31
BOFA
Neutral
BofA/Merrill downgrades MGM to Neutral on balanced risk/reward
BofA/Merrill analyst Shaun Kelley downgraded MGM Resorts to Neutral from Buy with an unchanged price target of $31. The analyst views the risk/reward as more balanced at current share levels. Potential catalysts from the ramp of MGM Cotai in Macau, real estate optionality and the MGM 2020 Plan are balanced by rising cyclical risks, convention competition, and the company's high operating leverage, Kelley tells investors in a research note.
08/22/19
MSCO
08/22/19
NO CHANGE
MSCO
Las Vegas Sands' Osaka decision good for it and MGM, says Morgan Stanley
After Las Vegas Sands (LVS) announced that it is not pursuing a license in Osaka, choosing to focus on Tokyo and Yokohama, Morgan Stanley analyst Thomas Allen said he believes the company may be making the right long-term decision. He also views the news as a potential positive for MGM Resorts (MGM), which he thinks is now "in pole position" to win the Osaka license. Both MGM and Las Vegas Sands will face intense competition from other global gaming companies for licenses in Japan, added Allen.
09/06/19
JPMS
09/06/19
NO CHANGE
JPMS
JPMorgan sees number of events hurting Macau gross gaming revenue
A number of events are negatively impacting Macau gross gaming revenue performance, including increasing China-U.S. trade tensions, Hong Kong protests, slowing economic growth in Mainland China, and potential issues related to the city's largest junket, JPMorgan analyst Joseph Greff tells investors in a research note. As a result, the analyst lowered his Macau property level estimates for the four U.S. listed Macau operators, Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Resorts & Entertainment (MLCO) and Wynn Resorts (WYNN). Greff, however, continues to see value in the Macau operators. He keeps a Neutral rating on Las Vegas Sands and dropped his price target to $60 from $68, an Overweight rating on MGM and lowered his price target to $36 from $37, an Overweight rating on Melco and lowered his price target to $25 from $29, and an Overweight rating on Wynn Resorts with a slightly reduced price target of $136.
09/17/19
MSCO
09/17/19
NO CHANGE
MSCO
Las Vegas Sands, MGM, Wynn targets cut at Morgan Stanley on Macau estimate cuts
Morgan Stanley analysts Thomas Allen and Praveen Choudhary lowered their expectations for Macau, stating they now expects gross gaming revenue to decline 3% in 2019 and grow 3% in 2020. The analysts previously forecast a 1% decline in GGR for 2019 and an 8% increase in 2020. Allen lowered his price target on Las Vegas Sands (LVS) to $66 from $68, cut his target on MGM Resorts (MGM) to $31 from $32 and reduced his Wynn Resorts (WYNN) target to $115 from $129, explaining that the Wynn cut is most pronounced since it is most exposed to Macau and to the weak high-end there. He maintains an Overweight rating on Las Vegas Sands, which he views as the most defensive and with potential Japan upside. Allen has Equal Weight ratings on MGM and Wynn shares.

TODAY'S FREE FLY STORIES

CDLX

Cardlytics

$39.85

0.17 (0.43%)

, TWOU

2U

$22.58

0.77 (3.53%)

18:44
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18:44
Hot Stocks
Fly Intel: After Hours Movers »

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CDLX

Cardlytics

$39.85

0.17 (0.43%)

TWOU

2U

$22.58

0.77 (3.53%)

OPNT

Opiant Pharmaceuticals

$15.95

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DDOG

Datadog

$34.40

0.89 (2.66%)

PTE

PolarityTE

$2.89

-0.41 (-12.42%)

ADPT

Adaptive Biotechnologies

$28.35

0.01 (0.04%)

ADT

ADT Inc.

$7.70

-0.02 (-0.26%)

BDSI

BioDelivery Sciences

$5.86

0.02 (0.34%)

AQMS

Aqua Metals

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-0.065 (-4.29%)

YY

YY

$65.12

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HUYA

Huya

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-1.05 (-4.15%)

RUN

Sunrun

$14.49

0.08 (0.56%)

VRAY

ViewRay

$2.48

-0.145 (-5.53%)

DZSI

Dasan Zhone

$8.34

0.5 (6.38%)

HIIQ

Health Insurance Innovations

$23.27

-1.71 (-6.85%)

CBPX

Continental Building

$35.76

3.73 (11.65%)

KNSL

Kinsale Capital Group

$88.98

1.78 (2.04%)

BOXL

Boxlight

$1.94

0.19 (10.86%)

SSTI

ShotSpotter

$20.36

(0.00%)

TVTY

Tivity Health

$18.56

0.145 (0.79%)

GEVO

Gevo

$2.57

0.065 (2.59%)

CSIQ

Canadian Solar

$17.51

0.65 (3.86%)

SDC

SmileDirectClub

$11.02

-0.83 (-7.00%)

SWKS

Skyworks

$101.59

1.22 (1.22%)

VREX

Varex Imaging

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0.1 (0.31%)

TLRY

Tilray

$21.57

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NXTC

NextCure

$37.41

-1.45 (-3.73%)

HALO

Halozyme

$16.77

0.18 (1.09%)

CYBR

CyberArk

$115.30

1.45 (1.27%)

I

Intelsat

$20.39

-2.845 (-12.24%)

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MU

Micron

$46.89

0.64 (1.38%)

18:44
11/12/19
11/12
18:44
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18:44
Hot Stocks
Micron CEO: We are focused on new product introductions »

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  • 20

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WSFS

WSFS Financial

$44.57

0.12 (0.27%)

18:34
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18:34
Hot Stocks
WSFS Financial names Rodger Levenson chairman of the board »

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  • 13

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REAL

RealReal

$18.30

0.08 (0.44%)

18:34
11/12/19
11/12
18:34
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18:34
Hot Stocks
RealReal CEO: Our brand is to keep fakes off the market »

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USB

U.S. Bancorp

$58.49

-0.16 (-0.27%)

18:31
11/12/19
11/12
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18:31
Hot Stocks
U.S. Bancorp receives Fed board of governors approval for capital distribution »

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IKTSY

Intertek

$0.00

(0.00%)

18:29
11/12/19
11/12
18:29
11/12/19
18:29
Upgrade
Intertek rating change  »

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CBPX

Continental Building

$35.76

3.73 (11.65%)

, CODYY

Saint-Gobain

$0.00

(0.00%)

18:27
11/12/19
11/12
18:27
11/12/19
18:27
Hot Stocks
Saint-Gobain to acquire Continental Building in roughly $1.4B deal »

Saint-Gobain (CODYY) and…

CBPX

Continental Building

$35.76

3.73 (11.65%)

CODYY

Saint-Gobain

$0.00

(0.00%)

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  • 13

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PYPL

PayPal

$102.07

-0.61 (-0.59%)

, FB

Facebook

$194.47

4.9 (2.58%)

18:22
11/12/19
11/12
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18:22
Hot Stocks
PayPal CFO: We are a better company, stronger workforce with veterans »

In an interview on…

PYPL

PayPal

$102.07

-0.61 (-0.59%)

FB

Facebook

$194.47

4.9 (2.58%)

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  • 21

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EADSY

Airbus

$0.00

(0.00%)

, AFLYY

Air France-KLM

$0.00

(0.00%)

18:22
11/12/19
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18:22
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18:22
Periodicals
Airbus says could stretch A220 jet to carry more passengers, Reuters says »

Philippe Balducchi, head…

EADSY

Airbus

$0.00

(0.00%)

AFLYY

Air France-KLM

$0.00

(0.00%)

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CCNE

CNB Financial

$33.10

-0.23 (-0.69%)

18:21
11/12/19
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18:21
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18:21
Syndicate
CNB Financial offering up to $40M in 'at-the-market' common stock »

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BA

Boeing

$362.89

-4.08 (-1.11%)

, ALK

Alaska Air

$70.87

-1.015 (-1.41%)

18:18
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11/12
18:18
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18:18
Periodicals
U.S. carriers willing to take 737 jets before training clearance, Reuters says »

Certain U.S. airline…

BA

Boeing

$362.89

-4.08 (-1.11%)

ALK

Alaska Air

$70.87

-1.015 (-1.41%)

LUV

Southwest

$57.87

-0.4 (-0.69%)

DAL

Delta Air Lines

$57.23

(0.00%)

JBLU

JetBlue

$19.31

-0.44 (-2.23%)

UAL

United Airlines

$92.73

-0.77 (-0.82%)

SAVE

Spirit Airlines

$37.86

-0.9 (-2.32%)

AAL

American Airlines

$29.51

-1.08 (-3.53%)

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PBR

Petrobras

$15.65

-0.146 (-0.92%)

18:15
11/12/19
11/12
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18:15
Hot Stocks
Petrobras discloses teaser for sale of assets in Uruguay »

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YY

YY

$65.12

-0.28 (-0.43%)

18:05
11/12/19
11/12
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18:05
Hot Stocks
YY reports Q3 global average mobile MAUs 470.1M from 433.5M in Q2 »

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  • 12

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HUYA

Huya

$24.28

-1.05 (-4.15%)

18:04
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18:04
Hot Stocks
Huya sees Q4 revenue up 55.5%-60.8% YoY »

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YY

YY

$65.12

-0.28 (-0.43%)

18:03
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18:03
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18:03
Earnings
Breaking Earnings news story on YY »

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HUYA

Huya

$24.28

-1.05 (-4.15%)

18:03
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18:03
Earnings
Huya reports Q3 EPS 7c, consensus 11c »

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YY

YY

$65.12

-0.28 (-0.43%)

18:01
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18:01
Earnings
YY reports Q3 adjusted EPS 90c, consensus 80c »

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  • 12

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LAZ

Lazard

$38.51

-0.03 (-0.08%)

18:00
11/12/19
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18:00
Hot Stocks
Lazard CAO sells 40,000 class A common shares »

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BA

Boeing

$362.89

-4.08 (-1.11%)

17:53
11/12/19
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17:53
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17:53
Periodicals
Boeing moves pilot to new job following leaked messages, Reuters says »

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  • 14

    Nov

AVYA

Avaya

$12.53

0.08 (0.64%)

, RNG

RingCentral

$172.89

2.57 (1.51%)

17:45
11/12/19
11/12
17:45
11/12/19
17:45
Syndicate
Avaya files to sell 1.75M shares of RingCentral Class A common stock »

Avaya Holdings (AVYA)…

AVYA

Avaya

$12.53

0.08 (0.64%)

RNG

RingCentral

$172.89

2.57 (1.51%)

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17:45
11/12/19
11/12
17:45
11/12/19
17:45
General news
Breaking General news story  »

Minneapolis Federal…

NVTR

Nuvectra

$1.41

0.085 (6.44%)

17:37
11/12/19
11/12
17:37
11/12/19
17:37
Hot Stocks
Nuvectra to file voluntary petition for reorganization under Chapter 11 »

Nuvectra announced that…

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XELB

Xcel Brands

$1.60

(0.00%)

17:34
11/12/19
11/12
17:34
11/12/19
17:34
Hot Stocks
Xcel Brands, Hilco Global acquire intellectual property of Longaberger »

Xcel Brands and Hilco…

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  • 13

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PSNL

Personalis

$10.17

-0.55 (-5.13%)

17:32
11/12/19
11/12
17:32
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17:32
Hot Stocks
Personalis expands oncology portfolio, launching cancer genome sequence service »

Personalis announced the…

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KTB

Kontoor Brands

$36.07

0.06 (0.17%)

17:28
11/12/19
11/12
17:28
11/12/19
17:28
Initiation
Kontoor Brands initiated  »

Kontoor Brands initiated…

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