On Tuesday, Caesars Entertainment Corp (NASDAQ:CZR)’s shares inclined 4.15% to $6.52.
In the first week of June, MGM Resorts International (MGM), Wynn Resorts Ltd. and Caesars Entertainment Corp. (CZR) were in focus with the passing of two bills by the Governor of Nevada that would further whet the appetite for gambling and boost the state’s sports betting industry.
Further, Caesars Entertainment’s domestic charter service, Total Rewards Air clinched agreements with two airlines to expand its commercial operations. Meanwhile, the possible merger of MGM Resorts and Wynn Resorts brought the companies into limelight.
Company’s Total Rewards Air – a domestic charter service that offers fast and easy way to travel to casino resorts – has reached three-year agreements with Sun Country Airlines and Via Airlines to enhance its commercial operations. Per the agreement, Sun Country Airlines and Via Airlines will serve as the main operating partners for Total Rewards Air and will provide service to more than 100 origin cities across the U.S.
The new technology by Total Rewards Air will make flight and hotel packages booking easy. The expanded service will comprise more than 1,800 flights annually to the Total Rewards Air primary destination hubs of Atlantic City, Laughlin, NV, and Tunica and Biloxi, MS.
Caesars Entertainment Corporation, through its auxiliaries, provides casino-entertainment and hospitality services in the United States and internationally. It operates in four segments: Caesars Entertainment Resort Properties, Caesars Growth Partners Casino Properties and Developments, Caesars Interactive Entertainment, and Caesars Entertainment Operating Company.
Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP)’s shares gained 0.44% to $74.67.
Ctrip.com International, Ltd. (ADR) (CTRP) declared that The Priceline Group Inc. (PCLN) will invest an additional $250 million in Ctrip. The investment will be made via a convertible bond and Ctrip has granted permission to The Priceline Group to enhance its ownership in Ctrip through the acquisition of Ctrip’s American depositary shares in the open market so that, when combined with the shares issuable upon conversion of the new bond and the $500 million convertible bond issued to The Priceline Group in August 2014, The Priceline Group may hold up to 15% of Ctrip’s outstanding shares.
This investment follows a commercial relationship established between the two companies in 2012, which was expanded in August 2014 together with the $500 million investment by The Priceline Group. Right away following issuance of the new $250 million bond and assuming conversion of the two bonds, The Priceline Group will own securities representing about 10.5% of Ctrip’s outstanding shares.
Ctrip.com International, Ltd., together with its auxiliaries, provides travel services for hotel accommodations, transportation ticketing services, packaged tours, and corporate travel administration in the People’s Republic of China. It also offers independent leisure travelers bundled packaged-tour products, counting group tours, semi-group tours, and private tours or packaged tours with various transportation arrangements, such as cruise, bus, or self-driving.
At the end of Tuesday’s trade, T. Rowe Price Group Inc (NASDAQ:TROW)‘s shares dipped -0.65% to $78.10.
- Rowe Price Group Inc (TROW) declared that it closed its Health Sciences Fund and similar portfolios for institutional clients at 4 p.m. ET recently. The decision to close the fund was made to maintain the integrity of the fund’s investment strategy and to protect the interests of existing shareholders. While the fund is closed to new investors, it will continue to accept additional investments from existing shareholders and from participants in an employer-sponsored retirement plan for which the fund serves as an investment option. New IRAs may also be opened through a direct rollover from an employer-sponsored retirement plan.
- Rowe Price Health Sciences Fund, which launched on December 29, 1995, seeks long-term capital appreciation from the stocks of companies involved in health care, medicine, and life sciences. It has been managed since February 15, 2013, by Taymour Tamaddon, who has been an investment professional at T. Rowe Price since 2004. The Health Sciences Fund received an Overall Morningstar RatingTM of five stars as of April 30, 2015. Its ticker symbol is PRHSX.
This is the first time the Health Sciences Fund has closed to new investors. The pace of inflows into the fund has raised dramatically in recent years. With $14.8 billion in total assets in the Health Sciences Strategy as of April 30, 2015–counting $14.1 billion in the Health Sciences Fund–assets have risen by $5.9 billion since the end of 2013. The strategy had nearly $1.8 billion of inflows during that time, counting $1.1 billion this year through April 30. Closing the fund to new investors will assist ensure that additional inflows do not overwhelm the portfolio manager’s ability to meet the fund’s investment objective.
- Rowe Price has a history of closing funds to maintain the integrity of an investment strategy and to protect the interests of existing shareholders. Other T. Rowe Price mutual funds that are presently closed to new investors are the Capital Appreciation Fund, High Yield Fund, Mid-Cap Growth Fund, Mid-Cap Value Fund, New Horizons Fund, and Small-Cap Stock Fund.
- Rowe Price Group, Inc. is a publicly owned asset administration holding company. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It invests in the public equity and fixed income markets across the globe.
TCF Financial Corporation (NYSE:TCB), ended its Tuesday’s trading session with 1.33% gain, and closed at $16.76.
TCF Inventory Finance, Inc., a partner of TCF National Bank and an indirect partner of TCF Financial Corporation (TCB), and Ariens Company (Ariens) declared recently a definitive agreement to provide inventory financing to more than 1,500 Ariens and Gravely dealers across the United States and Canada. TCFIF will be the exclusive financing provider for its portfolio of lawn and garden equipment.
The Ariens Company portfolio of brands comprises some of the oldest and most respected names in the outdoor power equipment industry. The multi-year planned alliance with TCFIF will enable dealers to stock a wide selection of all Ariens® and Gravely® products counting snow blowers, riding mowers, walk behind mowers, and commercial outdoor power equipment.
TCF Financial Corporation operates as the bank holding company for TCF National Bank that provides various retail and commercial banking products and services. The company’s Lending segment offers retail lending services, counting consumer loans for personal, family, and household purposes, such as home purchases, debt consolidation, and financing of home improvements.
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