Paddy Power Betfair Plc agreed to combine its U.S. unit with closely held website FanDuel, as the Irish bookmaker seeks to gain from an expected rise in sports betting following a Supreme Court ruling this month.
Paddy Power will own 61 percent of the combined business after contributing its U.S. assets and $158 million of cash, the Dublin-based company said Wednesday in a statement. That ownership could increase to 80 percent after three years and 100 percent after five years through call and put options.
“We are excited to add FanDuel to the group’s portfolio of leading sports brands,” Peter Jackson, chief executive officer of Paddy Power, said in the statement. “This combination creates the industry’s largest online business in the U.S., with a large sports-focused customer base and an extensive nationwide footprint.”
It’s the first of a possible wave of deals involving betting companies in the U.S. after a Supreme Court decision May 14 that struck down the federal law which had barred single-game gambling in most of the country. Shares of U.S. casino companies and bookmakers rallied on anticipation of the decision, which means that sports betting could begin in a matter of weeks in casinos and racetracks in New Jersey, the state that had instigated the legal fight to introduce sports betting.
Best Casino Stocks To Watch For 2019: Banco Santander, S.A.(SAN)
Advisors' Opinion:- [By Paul Ausick]
Banco Santander SA (NYSE: SAN) traded down 4.5% Friday and posted a new 52-week low of $5.13 after closing Thursday at $5.37. The stock’s 52-week high is $7.57. Volume was approaching double the daily average of around 8.4 million. The company had no specific news.
- [By Lisa Levin]
Check out these big penny stock gainers and losers
Losers Petróleo Brasileiro S.A. - Petrobras (NYSE: PBR) fell 13.2 percent to $10.95 in pre-market trading after dropping 1.33 percent on Friday. Banco Santander, S.A. (NYSE: SAN) shares fell 8.7 percent to $5.33 in pre-market trading after declining 2.83 percent on Friday. Synchrony Financial (NYSE: SYF) fell 8 percent to $32.75 in the pre-market trading session. AerCap Holdings N.V. (NYSE: AER) shares fell 7.4 percent to $51.17 in pre-market trading. Inovio Pharmaceuticals, Inc. (NASDAQ: INO) fell 7.4 percent to $4.54 in pre-market trading. Tailored Brands, Inc. (NYSE: TLRD) fell 7 percent to $31.83 in pre-market trading. California Resources Corporation (NYSE: CRC) shares fell 6.5 percent to $30.29 in pre-market trading after dropping 10.60 percent on Friday. Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) fell 6.2 percent to $6.85 in pre-market trading. RedHill Biopharma Ltd. (NASDAQ: RDHL) fell 6 percent to $6.67 in pre-market trading. QEP Resources, Inc. (NYSE: QEP) shares fell 5.8 percent to $11.45 in pre-market trading after dropping 6.75 percent on Friday. Noah Holdings Limited (NYSE: NOAH) fell 5.5 percent to $61.53 in pre-market trading. CNH Industrial N.V. (NYSE: CNHI) shares fell 5.2 percent to $11.70 in pre-market trading - [By Ethan Ryder]
Whittier Trust Co. of Nevada Inc. lifted its holdings in Santander Group (NYSE:SAN) by 32.6% during the first quarter, Holdings Channel reports. The institutional investor owned 45,610 shares of the bank’s stock after buying an additional 11,224 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Santander Group were worth $299,000 at the end of the most recent reporting period.
- [By Shane Hupp]
COPYRIGHT VIOLATION WARNING: “Jefferies Group Analysts Give Sanofi (SAN) a €72.00 Price Target” was originally reported by Ticker Report and is the property of of Ticker Report. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/3353529/jefferies-group-analysts-give-sanofi-san-a-72-00-price-target.html.
- [By Ethan Ryder]
Shares of Sanofi SA (EPA:SAN) have received an average recommendation of “Hold” from the seventeen brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is €77.65 ($90.29).
- [By Paul Ausick]
Banco Santander SA (NYSE: SAN) traded down about 1% Monday to post a new 52-week low of $6.07 after closing Friday at $6.13. The stock’s 52-week high is $7.57. Volume was about 30% below the daily average of around 6.9 million shares. The Spanish bank had no specific news.
Best Casino Stocks To Watch For 2019: Universal Health Services, Inc.(UHS)
Advisors' Opinion:- [By Max Byerly]
Parametrica Management Ltd acquired a new stake in Universal Health Services (NYSE:UHS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,694 shares of the health services provider’s stock, valued at approximately $201,000.
- [By Logan Wallace]
TheStreet cut shares of Universal Health Services, Inc. Class B (NYSE:UHS) from a b rating to a c+ rating in a research note published on Friday morning.
- [By Stephan Byrd]
Quorum Health (NYSE: QHC) and Universal Health Services (NYSE:UHS) are both medical companies, but which is the superior stock? We will compare the two companies based on the strength of their analyst recommendations, valuation, dividends, institutional ownership, profitability, earnings and risk.
- [By Shane Hupp]
Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in shares of Universal Health Services, Inc. Class B (NYSE:UHS) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,800 shares of the health services provider’s stock after acquiring an additional 1,400 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Universal Health Services, Inc. Class B were worth $3,878,000 at the end of the most recent reporting period.
- [By Reuben Gregg Brewer]
An aging baby boomer population is set to boost results at HCP, Inc. (NYSE:HCP) and Universal Health Services, Inc. (NYSE:UHS) for years to come. But is it better to own physical assets, like real estate investment trust HCP, or run them, like health facility operator Universal? In the end, these two companies are very similar but also differ in many ways. Here's what you need to know to pick the one that's right for you.
- [By Shane Hupp]
Nomura Asset Management Co. Ltd. boosted its stake in shares of Universal Health Services, Inc. Class B (NYSE:UHS) by 130.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,657 shares of the health services provider’s stock after buying an additional 30,365 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.06% of Universal Health Services, Inc. Class B worth $6,353,000 as of its most recent SEC filing.
Best Casino Stocks To Watch For 2019: Colony Starwood Homes(SFR)
Advisors' Opinion:- [By Ethan Ryder]
Starwood Waypoint Homes, formerly Colony Starwood Homes, is an internally managed real estate investment trust (REIT). The Company was formed primarily to acquire, renovate, lease and manage residential assets in select markets across the United States. It is focused on acquiring single-family rental (SFR) homes through a variety of channels, renovating these homes to the extent necessary and leasing them to qualified residents.
- [By Joseph Griffin]
Severfield (LON:SFR) insider Alan Dunsmore acquired 159 shares of Severfield stock in a transaction dated Wednesday, May 16th. The shares were acquired at an average price of GBX 79 ($1.07) per share, with a total value of £125.61 ($170.39).
Best Casino Stocks To Watch For 2019: MB Financial Inc.(MBFI)
Advisors' Opinion:- [By Shane Hupp]
Bank of New York Mellon Corp lowered its position in shares of MB Financial Inc (NASDAQ:MBFI) by 1.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,311,121 shares of the bank’s stock after selling 24,208 shares during the quarter. Bank of New York Mellon Corp owned about 1.56% of MB Financial worth $61,229,000 as of its most recent SEC filing.
- [By Shane Hupp]
CoBiz Financial (NASDAQ:COBZ) and MB Financial (NASDAQ:MBFI) are both finance companies, but which is the better investment? We will contrast the two businesses based on the strength of their earnings, profitability, valuation, analyst recommendations, risk, institutional ownership and dividends.
- [By Garrett Baldwin]
Markets have been under pressure once again by the U.S. Federal Reserve. Inflation levels are going through the roof… but the people in charge of managing it have been lying to Americans for years. Now, it's time to get even. Money Morning Liquidity Specialist Lee Adler has the perfect way to make a lot of money when no one is looking. Read it here.
The Top Stock Market Stories for Monday Markets are cheering news that the supposed trade war between the United States and China is "on hold," according to U.S. Treasury Secretary Steven Mnuchin. Mnuchin and U.S. President Donald Trump's top economic advisor, Larry Kudlow, announced that both nations have reached an agreement, one that established a framework to help address ongoing trade imbalances between the two countries. The prices of crude oil is in focus after Venezuelan President Nicolas Maduro won reelection over the weekend. The election featured a very low turnout and a very large outcry that the vote was rigged. Maduro has a 75% disapproval rating and has been the face of the OPEC member's widespread mismanagement and economic collapse. Prior to the election, a member of the Trump administration said that the United States would not recognize the authenticity of the election. The United States is considering additional sanctions on Venezuela. Today is a major day for mergers and acquisition activity. Today, Blackstone Group LP (NYSE: BX) announced plans to purchase U.S. hotel operator LaSalle Hotel Properties (NYSE: LHO) for a whopping $3.7 billion. The deal comes at a time that the travel industry is experiencing one of the best periods in a decade. If you're looking for a way to make money ahead of Memorial Day weekend, we show you how here. Four Stocks to Watch Today: GOOGL, GE, MBFI, FITB Alphabet Inc. (Nasdaq: GOOGL) is under pressure this morning after a harsh piece aired last night on "60 Minutes." The segment discussed the organization's power and influence. It also featured inter
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