• HEDGEYE’S MARKET BRIEF
    Our FREE Investing Newsletter
    Get Exclusive Summer Sale Discounts

    By joining our email marketing list you agree to receive marketing emails from Hedgeye. You may unsubscribe at any time by clicking the unsubscribe link in one of the emails. Not available for current subscribers to that product. Use of Hedgeye and any other products available through hedgeye.com are subject to our Terms Of Service and Privacy Policy New users only.

Keith shorted IGT in the Hedgeye Virtual Portfolio at $17.05.  According to his model, TRADE support was broken at $17.26 and TREND support is at $15.62.

As we mentioned in "REPLACEMENT REVERSAL" (12/2/11), IGT may have pulled forward slot demand in their previous quarter and some casino capex budgets may have already been exhausted.  We believe total North American replacement sales growth in CYQ4 will be negative and IGT will lose share sequentially.  IGT's Investor Day is ongoing; we'll update on any incremental news.

IGT: TRADE UPDATE - IGT2