Markets News Stocks 

All of a sudden, traders are loving retail stocks again

“Their piqued interest can be seen in a measure of outstanding options on an exchange-traded fund tracking the retail sector” writes Joe Ciolli for businessinsider.com. But against all odds, retail stocks have been mounting a silent comeback in the stock market over the past month.It’s also within the realm of possibility that traders think retail stocks simply got oversold. And while the long-term future of the industry is still very much up in the air, it’s an encouraging sign that traders are betting on continued resilience. Source: businessinsider.com Share This:

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Ladbrokes shares jump on £3.9 billion takeover talks with GVC

“The cash-and-stock deal under discussion would give Ladbrokes shareholders around 46.5% of the merged company, while GVC shareholders would have 53.5%” writes News Editor for marketwatch.com. British bookmaker Ladbrokes Coral PLC LCL, +25.42% is in “detailed” talks with GVC Holdings PLC GVC, +5.61% over a takeover offer worth about 3.9 billion pounds ($5.2 billion), the two companies said in a joint statement Thursday.That would value Ladbrokes at £1.609 per share, plus the further value of up to 42.8 pence per share, the betting companies said.However, shareholders would be able to…

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GOP betting tax bill will boost economy before 2018, 2020 elections

“Now massive tax cuts are likely to come, too” reports washingtonpost.com. The benefits of the Republican tax plan are front-loaded, most analysts say, which probably will help the GOP in the 2018 and 2020 elections.On Monday, Trump spokeswoman Kellyanne Conway was dubbing the latest stock market highs as the “new normal.” Many have pointed out that the tax bill is deeply unpopular in polls.Even before the tax bill, most experts had been predicting the momentum would continue into 2018 and 2019 with more jobs, more business investment and higher wages.The result could…

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NJ sports gambling case: Supreme Court leans toward allowing bets

“The Trump administration is on the opposite side of the case, opposing the New Jersey law championed by Christie” reports foxbusiness.com. Chief Justice John Roberts and fellow conservative Justice Anthony Kennedy expressed skepticism about the restrictions that the federal law places on states.Industry analysts predicted that upwards of 20 states would legalize sports betting if the federal law is voided by the high court.Roberts said there was “something a little odd about” the federal law that goes against “the powers and prerogatives of the states.”. New Jersey’s sports gambling law…

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The Latest: Senator predicts New Jersey sports betting win

“The Latest on a Supreme Court hearing on a case that could make sports betting widely available (all times local): New Jersey state Sen” reports foxbusiness.com. Ray Lesniak is predicting that the Supreme Court will hand the state a victory in its yearslong efforts to legalize sports betting.Chris Christie says that if the Supreme Court rules in his state’s favor in a major sports betting case, then sports betting would quickly become available in the state.The justices could ultimately greenlight the expansion of sports gambling nationwide by striking down the…

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Supreme Court to hear arguments over sports-betting ban

“If the justices decide the federal ban is an unlawful intrusion on states’ rights, such a ruling could open up more of the country to sports wagering” reports foxbusiness.com. A U.S. Supreme Court case next week could dramatically reshape the landscape of American sports betting, with major ramifications for casino operators and European betting shops, as well as professional sports leagues and college athletics.In court filings, the leagues say there’s nothing unconstitutional about Congress preventing states from sanctioning sports betting.A 25-year-old federal law restricts sports betting to Nevada and three…

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High court betting case pits states against sports leagues

“The high court is weighing whether a federal law that prevents states from authorizing sports betting is constitutional” reports foxsports.com. Monday’s case pits New Jersey and other states against all four major U.S. professional sports leagues and the federal government.If the Supreme Court strikes down the law, dozens of states could quickly make sports betting legal. Source: foxsports.com Share This:

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Supreme Court hearing could open the country to more sports betting

“A U.S. Supreme Court case next week could dramatically reshape the landscape of American sports betting, with major ramifications for casino operators and European betting shops, as well as professional sports leagues and college athletics” writes Chris Kirkham for marketwatch.com. If the justices decide the federal ban is an unlawful intrusion on states’ rights, such a ruling could open up more of the country to sports wagering.A 25-year-old federal law restricts sports betting to Nevada and three other states, but a challenge to that ban by the state of New…

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Markets News Stocks 

JPMORGAN: There’s still a fortune to be made in the stock market by betting on tax reform

“Our analysis indicates the market is significantly underestimating the probability of tax reform passage.”” writes Joe Ciolli for businessinsider.com. After all, with so much uncertainty surrounding tax reform, those willing to risk positioning for upside could wind up reaping huge profits.But since so much uncertainty is still lingering around the tax plan, Quigg says traders have to pick their spots carefully.”The most significant near-term upside catalyst for equities is still ahead — passage of the US tax bill,” Shawn Quigg, an equity derivatives strategist at JPMorgan, wrote in a client…

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Market report: PPB and William Hill caught up in merger love triangle with Aussie bookie CrownBet

“Aussie bookie CrownBet was caught in the middle of a merger love triangle with UK firms William Hill and Paddy Power Betfair yesterday as the spate of consolidation deals in the gambling sector saw the two bookies fighting for a suitor” writes Allister Heath for telegraph.co.uk. Deal-making among betting firms has transformed the industry in recent years but GVC’s takeover attempt of Ladbrokes Coral was recently shelved by the uncertainty created by the upcoming conclusion of the Government’s review into the betting sector.The Chinese Ministry of Finance said that the…

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