24/7 Wall St. » IGT

Slot-Machine Maker Buys Facebook Casino Gamemaker (IGT, ZNGA)

Paul Ausick — Fri, 13 Jan 2012 18:53:18 +0000

With the Facebook IPO bus scheduled to leave the station sometime this year, there is very likely to be rush to get onboard. Slot machine maker International Gaming Technology (NYSE: IGT) is going to pay up to $500 million for Facebook social casino game maker Double Down Interactive LLC. The deal pays $250 million in cash upfront, with another $85 million in retention benefits and $165 million in performance-based payouts.

Recently public gamemaker Zynga Inc. (NASDAQ: ZNGA) could reap the benefits of more interest in games, especially casino games, on Facebook. IGT is paying about $100 for each of Double Down’s approximately 5 million players. Zynga claims 30 million players for its online poker game. That’s about half Znyga’s current market cap.

IGT’s shares are down about -2% at noon today at $17.40, in a 52-week range of $13.38-$;19.15. Znyga’s shares are up about 2% at $8.62, in a range of $7.97-$11.50. Zynga’s shares went public at $10, so the company still qualifies as a busted IPO.

Paul Ausick

Filed under: Casinos, Mergers and Buy Outs, Video Games Tagged: IGT, ZNGA

Top Analyst Upgrades & Downgrades (AKAM, GAS, AAPL, ARMH, B, COST, XOM, FR, HTH, IART, IGT, MRK, P, PENN, PVH, RBS, SCCO, THOR)

Administrator — Mon, 09 Jan 2012 13:09:46 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Monday morning.

Akamai Technologies, Inc. (NASDAQ: AKAM) Cut to Sell from Neutral at Citigroup.
AGL Resources Inc. (NYSE: GAS) Started as Underperform and named as Bear of the Day at Zacks.
Apple Inc. (NASDAQ: AAPL) Reiterated Buy with $460.00 price target objective by Argus; maintained Conviction Buy List and target raised to $550 from $520 at Goldman Sachs.
ARM Holdings PLC (NASDAQ: ARMH) Started as Underperform at Bernstein.
Barnes Group Inc. (NYSE: B) named as value stock of the day at Zacks.
Costco Wholesale Corporation (NASDAQ: COST) Cut to Underperform at Bernstein.
Exxon Mobil Corporation (NYSE: XOM) Reiterated Buy at Goldman Sachs.
First Industrial Realty Trust (NYSE: FR) Cut to Neutral at Credit Suisse.
Hilltop Holdings, Inc. (NYSE: HTH) Raised to Outperform as Bull of the Day at Zacks.
Integra LifeSciences Holdings Corp. (NASDAQ: IART) Cut to Hold at Argus.
International Game Technology (NYSE: IGT) Removed from US Focus List at Credit Suisse.
Merck & Co. Inc. (NYSE: MRK) Downgraded to Hold at Jefferies.
Pandora Media Inc. (NYSE: P) Started as Buy at Needham.
Penn National Gaming Inc. (NASDAQ: PENN) Added to the US Focus List at Credit Suisse.
PVH Corporation (NYSE: PVH) Started as Buy at Stern Agee.
The Royal Bank of Scotland Group plc (NYSE: RBS) Raised to Neutral at JPMorgan.
Southern Copper Corporation (NYSE: SCCO) Cut to Hold at Deutsche Bank.
Thoratec Corporation (NASDAQ: THOR) Cut to Market Perform at Wells Fargo.

If you enjoyed the top analyst upgrades and downgrades, you can sign up in the box below to join our morning email list to receive news directly in your inbox each morning. We also include additional research notes, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.

JON C. OGG

Filed under: Analyst Calls Tagged: AAPL, AKAM, ARMH, B, COST, FR, gas, HTH, IART, IGT, MRK, P, PENN, PVH, RBS, SCCO, THOR, XOM

Top Analyst Upgrades & Downgrades (MT, AVNR, CTRN, ETH,INTC, IGT, KALU, LVS, MA, MGM, MNTA, NOR, SFD, SO, SE, URBN, V, WYNN)

Administrator — Tue, 13 Dec 2011 13:35:40 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Tuesday morning.

Arcelor Mittal (NYSE: MT) Started as Equal Weight at Barclays.
Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) Reiterate as “Buy” with a $6 price target by Canaccord Genuity.
Citi Trends, Inc. (NASDAQ: CTRN) Maintained Underperform as Bear of the Day at Zacks.
Ethan Allen Interiors Inc. (NYSE: ETH) Started as Hold at Argus.
Intel Corporation (NASDAQ: INTC) Maintained Outperform but cut estimates at Credit Suisse; maintained Hold with $24 price target objective at Canaccord Genuity.
International Game Technology (NYSE: IGT) resumed with “Outperform” rating at Wells Fargo.
Kaiser Aluminum Corporation (NASDAQ: KALU) Started as Buy at BofA/Merrill Lynch.
Las Vegas Sands Corporation (NYSE: LVS) resumed with “Outperform” rating at Wells Fargo.
Mastercard Incorporated (NYSE: MA) Started as Buy at Nomura.
MGM Resorts International (NYSE: MGM) resumed with “Outperform” rating at Wells Fargo.
Momenta Pharmaceuticals Inc. (NASDAQ: MNTA) reiterate as Buy with a $23 price target objective by Canaccord Genuity.
Noranda Aluminum Holding Corp. (NYSE: NOR) Started as Buy at BofA/Merrill Lynch.
Smithfield Foods Inc. (NYSE: SFD) named as Value stock of the day at Zacks Investment Research.
Southern Co. (NYSE: SO) Cut to Hold from Buy for short-term coverage but maintained a Buy for long-term at Argus.
Spectra Energy Corporation (NYSE: SE) Maintained Outperform as Bull of the Day at Zacks Investment Research.
Urban Outfitters Inc. (NASDAQ: URBN) Maintained Neutral and lowered estimates at Credit Suisse; Maintained Underperform with $17 price target objective by Jefferies.
Visa, Inc. (NYSE: V) Started as Buy at Nomura.
Wynn Resorts Ltd. (NASDAQ: WYNN) resumed with “Market Perform” at Wells Fargo.

JON C. OGG

Filed under: Analyst Calls Tagged: AVNR, CTRN, ETH, IGT, INTC, KALU, LVS, MA, MGM, MNTA, MT, NOR, SE, SFD, SO, URBN, V, WYNN

Top Analyst Upgrades & Downgrades (RATE, BWLD, DLLR, DLTR, TV, HA, IGT, JNPR, LVS, LNKD, MPEL, NOV, PCX, PM, SBGI, SBUX)

Administrator — Wed, 27 Jul 2011 12:25:13 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Wednesday morning.

Bankrate Inc. (NYSE: RATE) Started as Buy at Citigroup; Started as buy at Stifel Nicolaus; Started as Outperform at RBC.
Buffalo Wild Wings Inc. (NASDAQ: BWLD) Raised to Outperform at Raymond James.
Dollar Financial (NASDAQ: DLLR) Reiterated Buy as Bull of the Day at Zacks.
Dollar Tree, Inc. (NASDAQ: DLTR) Raised to Overweight at Piper Jaffray.
Grupo Televisa S.A. (NYSE: TV) Cut to Underperform as Bear of the Day at Zacks.
Hawaiian Holdings, Inc. (NASDAQ: HA) Raised to Neutral at BofA/ML.
International Game Technology (NYSE: IGT) Reiterated Outperform but raised target to $24 at Credit Suisse.
Juniper Networks, Inc. (NYSE: JNPR) removed from Conviction Buy List at Goldman Sachs; also downgraded at William Blair, Oppenheimer, and Citigroup.
Las Vegas Sands (NYSE: LVS) Reiterated Outperform and raised target to $60 from Credit Suisse.
LinkedIn Corporation (NYSE: LNKD) Started as Market Perform at William Blair.
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) Reiterated Buy and raised target to $19.10 at Citigroup.
National Oilwell Varco (NYSE: NOV) Reiterated Buy and raised target to $100 at Canaccord Genuity.
Patriot Coal Corporation (NYSE: PCX) Removed from Conviction Buy List at Goldman Sachs.
Phillip Morris International Inc. (NYSE: PM) Reiterated Buy and raised target to $80 at Argus.
Sinclair Broadcast Group Inc. (NASDAQ: SBGI) Cut to Neutral at JPMorgan.
Starbucks Corporation (NASDAQ: SBUX) Raised to Buy at Janney Capital.

You are invited to join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: BWLD, DLLR, DLTR, HA, IGT, JNPR, LNKD, LVS, MPEL, NOV, PCX, PM, RATE, SBGI, SBUX, TV

Top Analyst Upgrades & Downgrades (ASH, AVNR, CASC, DEO, IGT, IART, LNKD, MCK, MMI, OVTI, SUN, WDC)

Administrator — Tue, 28 Jun 2011 12:33:32 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Tuesday morning.

Ashland Inc. (NYSE: ASH) Reiterated Buy with $79 target at Argus.
Avanir Pharmaceuticals, Inc. (NASDAQ: AVNR) Reiterated Buy with $6 target at Canaccord Genuity.
Cascade Corporation (NASDAQ: CASC) maintained strong buy as value at Zacks.
Diageo plc (NYSE: DEO) Cut to Hold at Citigroup.
International Game Technology (NYSE: IGT) Added to Focus List at Credit Suisse.
Integra LifeSciences Holdings Corporation (NASDAQ: IART) Reiterated Buy and $61 target at Canaccord Genuity.
LinkedIn Corporation (NYSE: LNKD) Started as Overweight at JPMorgan; Started as Buy at BofA/ML.
McKesson Corporation (NYSE: MCK) Raised to Outperform as Bull of the Day at Zacks.
Motorola Mobility Holdings, Inc. (NYSE: MMI) Cut to Underperform at BMO.
OmniVision Technologies Inc. (NASDAQ: OVTI) Raised to Buy at Canaccord Genuity.
Sunoco, Inc. (NYSE: SUN) maintained Underperform as Bear of the Day at Zacks.
Western Digital Corporation (NYSE: WDC) Reiterated Hold at Argus.

JON C. OGG

Filed under: Analyst Calls Tagged: ASH, AVNR, CASC, DEO, IART, IGT, LNKD, MCK, MMI, OVTI, SUN, WDC

Top Analyst Upgrades & Downgrades (AGU, CCJ, CHK, ETR, IGT, JDSU, LVS, LINE, NE, OKE, OPEN, SBUX, TXN, TOL)

Administrator — Mon, 14 Mar 2011 12:22:43 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Monday morning.

Agrium Inc. (NYSE: AGU) Raised to Buy at TD.
Cameco Corp. (NYSE: CCJ) Cut to Hold at TD.
Chesapeake Energy Corporation (NYSE: CHK) Reiterated Hold at Argus.
Entergy Corporation (NYSE: ETR) Cut to Underperform at BofA/ML.
International Game Technology (NYSE: IGT) Reiterated Outperform at Credit Suisse.
JDS Uniphase Corporation (NASDAQ: JDSU) Raised to Buy at Citigroup.
Las Vegas Sands Corp. (NYSE: LVS) Cut to Hold at Jefferies.
Linn Energy, LLC (NASDAQ: LINE) Started as Buy at Stifel Nicolaus.
Noble Corp. (NYSE: NE) Raised to Overweight at JPMorgan.
ONEOK Inc. (NYSE: OKE) Cut to Hold at Argus.
OpenTable, Inc. (NASDAQ: OPEN) Cut to Neutral at Merriman.
Starbucks Corporation (NASDAQ: SBUX) Reiterated Outperform and raised target to $41 at Credit Suisse.
Texas Instruments Inc. (NYSE: TXN) Raised to Positive at Susquehanna.
Toll Brothers Inc. (NYSE: TOL) Cut to Sell at Stifel Nicolaus.

You can join our free daily email distribution list to hear more about analyst upgrades and downgrades, top day trader and active trader alerts, dividend trends, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: AGU, CCJ, CHK, ETR, IGT, JDSU, LINE, LVS, NE, OKE, OPEN, SBUX, TOL, TXN

Top Analyst Upgrades & Downgrades (BP, CIEN, IGT, JASO, MRO, MBI, RHT, CRM, STX, STM, STRA, TLAB, TSO, VZ, WDC)

Administrator — Wed, 26 Jan 2011 13:13:32 +0000

These are some of this Wednesday’s top analyst calls with upgrades, downgrades, and initiations seen from Wall Street research firms.

BP plc (NYSE: BP) Cut to Hold at Societe Generale.
CIENA Corporation (NASDAQ: CIEN) Cut to Neutral at BofA/ML.
International Gaming Technology (NYSE: IGT) Raised to Hold at Argus.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) Cut to Neutral at Collins Stewart.
Marathon Oil Corporation (NYSE: MRO) Raised to Overweight at Morgan Stanley.
MBIA Inc. (NYSE: MBI) Raised to Hold at S&P Equity Research (late Tuesday call)..
Red Hat, Inc. (NYSE: RHT) Raised to Buy at Stifel Nicolaus.
Salesforce.com (NYSE: CRM) Raised to Buy at Roth Capital.
Seagate Technology PLC (NASDAQ: STX) Raised to Buy at BofA/ML.
STMicroelectronics NV (NYSE: STM) Cut to Sell at S&P Equity Research.
Strayer Education Inc. (NASDAQ: STRA) Cut to Underperform and listed as Bear of the Day at Zacks.
Tellabs Inc. (NASDAQ: TLAB) Cut to Underperform at BofA/ML.
Tesoro Corporation (NYSE: TSO) Raised to Outperform and called Bull of the Day at Zacks.
Verizon Communications Inc. (NYSE: VZ) Raised to Buy at Goldman Sachs.
Western Digital Corporation (NYSE: WDC) Raised to Buy at BofA/ML.

JON C. OGG

Filed under: Analyst Calls Tagged: BP, CIEN, CRM, IGT, JASO, MBI, MRO, RHT, STM, STRA, STX, TLAB, TSO, VZ, WDC

Top Analyst Upgrades and Downgrades (AMGN, T, BCSI, BP, CMCSA, COP, EMC, XOM, IGT, NTAP, Q, S, TSO, TSL, VZ, VMW)

Administrator — Tue, 14 Dec 2010 13:17:13 +0000

These are some of this Tuesday’s key analyst upgrades, downgrades, and initiations seen in Wall Street research calls.

Amgen Inc. (NASDAQ: AMGN) Raised to Overweight at Piper Jaffray.
AT&T Inc. (NYSE: T) Started as Buy at Nomura.
Blue Coat Systems Inc. (NASDAQ: BCSI) Started as Buy at UBS.
BP plc (NYSE: BP) Started as Hold at Jefferies.
Comcast Corporation (NASDAQ: CMCSA) Started as Buy at Nomura.
ConocoPhillips (NYSE: COP) Started as Buy at Jefferies.
EMC Corp. (NYSE: EMC) Started as Buy at Janney.
Exxon Mobil Corp. (NYSE: XOM) Started as Hold at Jefferies.
International Game Technology (NYSE: IGT) Started as Overweight at Morgan Stanley.
NetApp, Inc. (NASDAQ: NTAP) Started as Neutral at Janney.
Qwest Communications International Inc. (NYSE: Q) Started as Buy at Nomura.
Sprint Nextel Corp. (NYSE: S) Started as Neutral at Nomura.
Tesoro Corporation (NYSE: TSO) Cut to Neutral at BofA/ML.
Trina Solar Ltd. (NYSE: TSL) Raised to Buy at S&P Equity Research (late-Monday call)
Verizon Communication Inc. (NYSE: VZ) Started as Neutral at Nomura.
VMware, Inc. (NYSE: VMW) Started as Neutral at Janney.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.

JON C. OGG

Filed under: Analyst Calls Tagged: AMGN, BCSI, BP, CMCSA, COP, EMC, IGT, NTAP, Q, S, T, TSL, TSO, VMW, VZ, XOM

Top 10 Analyst Upgrades and Downgrades (AAPL, BYI, BHP, DWA, FRO, IGT, CSCO, JPM, PCLN, RS)

Administrator — Wed, 16 Jun 2010 12:07:05 +0000

These are ten of this Wednesday’s top analyst calls with upgrades, downgrades, and initiations seen in Wall Street research notes:

Apple Inc. (NASDAQ: AAPL) Raised estimates and Target to $348.00 at Piper Jaffray.
Bally Technologies, Inc. (NYSE: BYI) Cut to Sell at Goldman Sachs.
BHP Billiton Ltd. (NYSE: BHP) Cut to Underweight at JPMorgan (Cazenove).
DreamWorks Animation SKG Inc. (NASDAQ: DWA) Cut to Neutral at Goldman Sachs.
Frontline Ltd. (NYSE: FRO) Removed from Conviction Buy List at Goldman Sachs.
International Game Technologies (NYSE: IGT) Cut to Sell at Goldman Sachs.
Cisco Systems, Inc. (NASDAQ: CSCO) Started as Overweight with $32 target at Atlantic Securities.
J.P. Morgan Chase & Co. (NYSE: JPM) Started as Outperform at FBR Capital.
Priceline.com Incorporated (NASDAQ: PCLN) Raised to Buy with $240 target at Goldman Sachs.
Reliance Steel & Aluminum (NYSE: RS) Raised to Buy at UBS.

JON C. OGG

Filed under: Analyst Calls Tagged: AAPL, BHP, BYI, CSCO, DWA, FRO, IGT, JPM, PCLN, RS

Top Analyst Downgrade/Cautious Calls (AIG, ARRS, CHK, DVN, IGT, PEP, RIMM)

247wallst — Tue, 06 Oct 2009 12:00:13 +0000

These are Tuesday’s top pre-market analyst downgrades or cautious research calls seen out of Wall Street:

American International Group (NYSE: AIG) Resumed as Neutral at UBS, so technically not a downgrade.
Arris (NASDAQ: ARRS) Cut to Underperform at Jefferies.
Chesapeake (NYSE: CHK) Cut to Underperform at Credit Suisse.
Devon Energy (NYSE: DVN) Cut to Underperform at Credit Suisse.
International Game Tech (NYSE: IGT) Cut to Buy from Conviction Buy List at Goldman Sachs.
Pepsico (NYSE: PEP) removed from the Focus List at Credit Suisse.
Research in Motion (NASDAQ: RIMM) Started as Underperform at Bernstein.

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JON C. OGG
OCTOBER 6, 2009

Posted in Analyst Calls Tagged: AIG, ARRS, CHK, DVN, IGT, PEP, RIMM