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  • Nov 20- Casino operator Wynn Resorts Ltd said it was not aware of any investigation after the Wall Street Journal reported that the company is being probed by U.S. federal authorities for possible violation of money-laundering laws. The Internal Revenue Service sent a letter to Wynn's outside lawyer Donald Campbell requesting information on the company's...

  • Valeant slashes stake in Allergan after losing bid Thursday, 20 Nov 2014 | 7:14 PM ET

    Nov 20- Valeant Pharmaceuticals International Inc said it cut its stake in Allergan Inc to 0.1 percent from 9.7 percent, three days after Actavis Plc trumped its offer for the Botox maker. Pershing Square Capital Management informed Valeant that PS Fund 1 sold all of its 2.2 million shares in Allergan allocated to Valeant USA, Valeant said in a regulatory filing.

  • NEW YORK, Nov 20- William Ruprecht, the long-serving chief executive of Sotheby's, is stepping down, the centuries-old auction house said on Thursday, roughly a year after activist investors including Daniel Loeb began demanding big changes. Activist investors had called for big changes at Sotheby's including the sale of its headquarters on the upper East...

  • Nov 20- GameStop Corp reported quarterly revenue and profit well below analysts' estimates as the delayed release of Assassin's Creed Unity and flagging videogame software sales more than offset high demand for PlayStation 4 and Xbox One consoles. GameStop said it expected fiscal 2014 diluted earnings of $3.40- $3.55 per share, compared to its earlier...

  • UPDATE 1-Hertz Global names John Tague as CEO Thursday, 20 Nov 2014 | 5:52 PM ET

    Nov 20- U.S. car rental company Hertz Global Holdings Inc named John Tague as chief executive, overlooking a candidate put forward by activist investor Jana Partners. Hertz had formed a search committee including two independent directors nominated by Icahn to find a replacement for Mark Frissora, who resigned in September. The Committee and the Board...

  • Nov 20- Apparel retailer Gap Inc cut its full-year earnings forecast as sales at the Gap brand continued to fall and demand for the cheaper Old Navy clothing slowed. Comparable sales growth at Old Navy stores slowed to 1 percent from 4 percent in the preceding quarter. The company cut its earnings forecast to $2.73- $2.78 per share from $2.95- $3.00 per share for the...

  • Tokyo, Nov 21- Blackstone Group LP, the world's largest private equity investor in real estate, said it will buy residential assets in Japan from General Electric Co' s property unit in a deal worth more than 190 billion yen, Japan's largest property deal this year. Blackstone will buy more than 10,000 apartment units in 200 properties in Japan's largest cities...

  • Hertz Global names John Tague as CEO Thursday, 20 Nov 2014 | 5:06 PM ET

    Nov 20- U.S. car rental company Hertz Global Holdings Inc named John Tague, former chief operating officer of United Airlines Inc, as its chief executive officer. Activist investor Jana Partners LLC, which owns an 8.3 percent stake in the company, had pushed for Dollar Thrifty CEO Scott Thompson as a candidate for the top job at Hertz. Hertz has owned up to a string of...

  • Nov 20- Marvell Technology Group Ltd forecast lower-than-expected revenue for the current quarter as weak demand for its chips used in third-generation mobile communication offset a rise in sales of its more profitable 4 G LTE chips. Marvell also took the brunt of weakness at its biggest customer Samsung Electronics Co Ltd.. Marvell has been investing...

  • Nov 20- Data analytics software maker Splunk Inc reported a better-than-expected 48 percent jump in quarterly revenue as it added more customers. Splunk, which uses a Google- like interface that makes it easy to search and navigate a company's database, said revenue rose to $116 million from $78.6 million in the third quarter ended Oct. 31. Splunk said net loss...

  • Gap revenue misses estimate Thursday, 20 Nov 2014 | 4:30 PM ET

    Nov 20- Apparel retailer Gap Inc reported lower-than-expected quarterly revenue, hurt by a 5.5 percent fall in the U.S. sales of its namesake brand. The company, which also owns the Banana Republic and Old Navy brands, said net sales fell slightly to $3.97 billion in the third quarter from $3.98 billion from a year earlier. Net income rose to $351 million, or 80 cents...

  • Nov 20- Blackstone Group LP, the world's largest alternative asset manager, said it will buy residential assets in Japan from GE Japan Corp for more than 190 billion yen. The business owns and operates more than 200 residential properties in Tokyo, Osaka, Nagoya and Fukuoka. "This transaction supports our global strategy to reduce our equity book as we continue to...

  • Nov 20- Chipmaker Marvell Technology Group Ltd reported lower-than-expected quarterly revenue, hurt by weak demand for its chips used in third-generation mobile communications. The company's net income rose to $115 million, or 22 cents per share, in the third quarter ended Nov. 1, from $103 million, or 21 cents per share, a year earlier. Revenue fell slightly to...

  • Assassin's Creed Unity delay hurts GameStop's revenue Thursday, 20 Nov 2014 | 4:15 PM ET

    Nov 20- GameStop Corp, the world's largest retailer of video game products, reported a marginal fall in quarterly revenue, hurt by the delayed release of action game Assassin's Creed Unity. Net income dropped to $56.4 million, or 50 cents per share, in the third quarter ended Nov. 1, from $68.6 million, or 58 cents per share, a year earlier. The Grapevine, Texas- based...

  • Nov 20- Delta Air Lines Inc confirmed on Thursday a $14 billion order for 50 widebody jets from Airbus Group NV, a victory for the European planemaker that replaces older generation aircraft from Boeing Co in Delta's fleet. It follows a closely fought competition with Boeing, which had offered its 787 Dreamliner. Airbus emerged as the front-runner in part after...

  • Splunk's revenue jumps 48 pct on customer additions Thursday, 20 Nov 2014 | 4:09 PM ET

    Nov 20- Data analytics software maker Splunk Inc reported a 48 percent jump in quarterly revenue as it added more customers. The net loss attributable to Splunk widened to $48.6 million, or 40 cents per share, from $16.6 million, or 16 cents per share, a year earlier. Revenue rose to $116 million from $78.6 million.

  • *Habit Restaurants shares more-than-double in debut. Nov 20- Shares of Habit Restaurants Inc more than doubled in their trading debut, underscoring the growing appetite among investors for stocks of fast casual restaurant chains- increasingly, the choice of health-conscious diners. Restaurants such as El Pollo Loco Holdings Inc and Zoe's Kitchen Inc, which...

  • *Arizona says "hundreds of thousands" put at risk. Nov 20- In the first lawsuit brought by a state against General Motors Co over recalls relating to a defective ignition switch, Arizona has accused the company of putting the public at risk by concealing safety issues and delaying the recalls. Documents produced to U.S. Congress and federal safety regulators...

  • Nov 20- Canada's Valeant Pharmaceuticals International Inc said it may buy back up to $2 billion worth of securities, replacing a previous $1.5 billion program under which it bought back no securities. The announcement comes a few days after acquisition-hungry Valeant's $54 billion offer to buy Botox maker Allergan Inc was trumped by Actavis Plc's $66...

  • Nov 20- Apache Corp slashed its capital budget for North America by a third as a sharp decline in oil prices over the past few months makes drilling less lucrative. A handful of companies, including Continental Resources Inc and Denbury Resources Inc have already cut spending plans and others are expected to follow suit. Apache said it expects to spend $4 billion...