PENN Entertainment stock surges 5.4% on optimism around updated organizational structure.

PENN Entertainment shares rose 5.4% to $14.58 after the company announced an updated organizational structure to reduce overhead and improve decision-making in its core casino and digital businesses. The stock move reflects optimism around PENN's ability to improve cash flow generation and support long-term performance. The company is expected to post a quarterly loss of $0.21 per share and revenues of $1.75 billion.