we'd have to go way back to Jan to find a SPY close BELOW the 8 EMA....forming a lower high , lower low........the day is still young, can she fight?
SPY
6 month daily with the 8 EMA
recon, your find on QCOM coming to fruition......gap up and runs
more red days in the last week than in a month on the spy - -pretty telling....
and yeah QCOM under siege by buyers it looks like - something coming down the road and someone knows.
..anatomy of the candle will be telling
SPY is down 2.1% from its recent high, historically 5% corrections occur approx 2.5 times a yr. Is there a macro event that can scare the market into a more violent fall--perhaps brexit next week or A breakdown in trade talks with USA and China.
czr MUST hold current level (at the low of late Feb); a double bottom to form or it breaks. Big week comin up
czr MUST hold current level (at the low of late Feb); a double bottom to form or it breaks. Big week comin up
Officially out of the stock. It just starting not to smell right. If there is a buyout I have been reading it could be a stock swap. Also, they could declare bankruptcy and collect on the bonds. Either way to much risk. Bought @$8.77 sold @8.69. A total loss plus commission of $94. I can live with that. Good Luck to those of you who are left.
There doesn't seem to be much behind Icahn's stake other than pushing for a sale of Caesars Entertainment. I recently highlighted that Eldorado Resorts(NASDAQ: ERI) and Tilman Fertitta's Landry's empire are interested in merging with the company. A deal with Eldorado would likely come in the form of a stock merger, potentially in combination with even more debt for the company. Landry's may have to complete a buyout with billions in new debt on top of the $9.0 billion of debt already on Caesars' balance sheet. Both are extremely risky, and a stock buyout in particular isn't guaranteed to add value for Caesars' shareholders long-term because the value of shares could ultimately decline.
Outside of a sale, there isn't a lot for Icahn to push for. Caesars has already moved most of its real estate assets to VICI Properties (NYSE: VICI), a REIT set up as part of Caesars' bankruptcy process. There aren't many other assets to strip from the company and monetize immediately.
https://finance.yahoo.com/news/carl-icahn-push-sale-caesars-125400521.html
Outside of a sale, there isn't a lot for Icahn to push for. Caesars has already moved most of its real estate assets to VICI Properties (NYSE: VICI), a REIT set up as part of Caesars' bankruptcy process. There aren't many other assets to strip from the company and monetize immediately.
https://finance.yahoo.com/news/carl-icahn-push-sale-caesars-125400521.html
Down day
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[FONT="]8.07-0.28 (-3.35%)As of 11:01AM EDT. Market open.
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[FONT="]8.07-0.28 (-3.35%)As of 11:01AM EDT. Market open.
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Only Carl knows what is going to happen. I don't.
[FONT="]<header id="tgt1-Lead-0-HeadComponentTitle" class="canvas-header" data-yaft-module="tdv2-applet-CommonHeader">[h=1]Carl Icahn Ups Caesars Stake as He Pushes for Sale[/h]</header>
GuruFocus.com
,GuruFocus.com•<time class="date Fz(11px) Mb(4px) Fz(13px) C(#9ea2af)" datetime="2019-03-14T23:29:41.000Z" itemprop="datePublished" style="color: rgb(158, 162, 175); font-size: 11px; margin-bottom: 4px;">March 14, 2019</time>
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[FONT="]<header id="tgt1-Lead-0-HeadComponentTitle" class="canvas-header" data-yaft-module="tdv2-applet-CommonHeader">[h=1]Carl Icahn Ups Caesars Stake as He Pushes for Sale[/h]</header>
GuruFocus.com
,GuruFocus.com•<time class="date Fz(11px) Mb(4px) Fz(13px) C(#9ea2af)" datetime="2019-03-14T23:29:41.000Z" itemprop="datePublished" style="color: rgb(158, 162, 175); font-size: 11px; margin-bottom: 4px;">March 14, 2019</time>
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<article itemprop="articleBody" data-uuid="f3c48d43-6412-3922-82d2-8e2a9bfaddb9" data-type="story">- By Holly LaFon
Activist investor Carl Icahn (Trades, Portfolio) this week increased his holding of Caesars Entertainment Corp. (CZR) as he expands his control of the company in hopes of putting it up for sale.
The Icahn Enterprises founder purchased 20,724,421 shares of the company Monday, increasing his holding 20.88%, GuruFocus Real Time Picks shows. The transactions marked Icahn's third such reported buy in a little over a month. He disclosed that he had started the position on Feb. 7, after the company's stock had tumbled almost 60% over the previous five years. He added to it on March 7.
Icahn paid $8.45 per share of the entertainment giant Monday, close to the $8.50 to $8.55 he paid for the March 7 shares and $8.73 to $9.39 range he paid for his initial shares in January and February.
The stock has declined 5.9% since Icahn's disclosure Monday to close at $8.16 Thursday. It is also down 11.8% from Feb. 7, the date he first announced his position. As of Thursday, he owns approximately 119,975,363 shares of Caesars, good for a 17.75% stake.
Icahn's share increase came as he muscles for influence with the company to impose his plans. On March 1, he added three directors to its board, with the right to add a fourth member if the board approves a new CEO within the following 45 days, to explore strategic alternatives.
"I believe the best path forward for Caesars requires a thorough strategic process to sell or merge the company to further develop its already strong regional presence, which will allow Caesars to continue to take advantage of the Caesars Rewards program bringing more and more players into Caesars' Vegas market," Icahn said in a release announcing the board shakeup. "I expect this to make Caesars the most powerful competitor in Vegas, the gaming capital of the world."
Caesars emerged from bankruptcy in October 2017 after its involvement with a private-equity firm left it with $24 billion of debt in 2015. The new Ceasars Entertainment started operations with less debt and more cash flow, and was restructured into a real estate investment trust.
As of Dec. 31, Caesars' balance sheet reflected $8.8 billion of debt and $1.5 billion of cash. The company's revenue jumped 72.4% to $8.39 billion in 2018, boosted primarily by an acquisition. It also posted gains in Ebitdar (earnings before interest, taxes, depreciation, amortization and rent) in both its Las Vegas and other U.S. segments for the year due to increased efficiency and sales. Losses in its international segment mounted to $68 million from $18 million a year prior as it saw lower winnings from games and rising expenses.
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Activist investor Carl Icahn (Trades, Portfolio) this week increased his holding of Caesars Entertainment Corp. (CZR) as he expands his control of the company in hopes of putting it up for sale.
- Warning! GuruFocus has detected 2 Warning Signs with CZR. Click here to check it out.
- CZR 15-Year Financial Data
- The intrinsic value of CZR
- Peter Lynch Chart of CZR
The Icahn Enterprises founder purchased 20,724,421 shares of the company Monday, increasing his holding 20.88%, GuruFocus Real Time Picks shows. The transactions marked Icahn's third such reported buy in a little over a month. He disclosed that he had started the position on Feb. 7, after the company's stock had tumbled almost 60% over the previous five years. He added to it on March 7.
Icahn paid $8.45 per share of the entertainment giant Monday, close to the $8.50 to $8.55 he paid for the March 7 shares and $8.73 to $9.39 range he paid for his initial shares in January and February.
The stock has declined 5.9% since Icahn's disclosure Monday to close at $8.16 Thursday. It is also down 11.8% from Feb. 7, the date he first announced his position. As of Thursday, he owns approximately 119,975,363 shares of Caesars, good for a 17.75% stake.
Icahn's share increase came as he muscles for influence with the company to impose his plans. On March 1, he added three directors to its board, with the right to add a fourth member if the board approves a new CEO within the following 45 days, to explore strategic alternatives.
"I believe the best path forward for Caesars requires a thorough strategic process to sell or merge the company to further develop its already strong regional presence, which will allow Caesars to continue to take advantage of the Caesars Rewards program bringing more and more players into Caesars' Vegas market," Icahn said in a release announcing the board shakeup. "I expect this to make Caesars the most powerful competitor in Vegas, the gaming capital of the world."
Caesars emerged from bankruptcy in October 2017 after its involvement with a private-equity firm left it with $24 billion of debt in 2015. The new Ceasars Entertainment started operations with less debt and more cash flow, and was restructured into a real estate investment trust.
As of Dec. 31, Caesars' balance sheet reflected $8.8 billion of debt and $1.5 billion of cash. The company's revenue jumped 72.4% to $8.39 billion in 2018, boosted primarily by an acquisition. It also posted gains in Ebitdar (earnings before interest, taxes, depreciation, amortization and rent) in both its Las Vegas and other U.S. segments for the year due to increased efficiency and sales. Losses in its international segment mounted to $68 million from $18 million a year prior as it saw lower winnings from games and rising expenses.
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yeah, this was going to be a big week for czr either way; form a double bottom or break-- it broke. WYNN broke as well. The whole sector hasn't followed the SPY's recent run. From their recent late Feb swing highs; WYNN down 13.5%, CZR down 14.3% (LVS, MGM not as bad) .................don't follow any fundamental stuff AT ALL, lol
keep in mind CZR is UP 17 % ytd
keep in mind CZR is UP 17 % ytd
