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Stock Market & Financial Investment News

News Breaks
June 6, 2014
08:26 EDTWYNN, LVS, MGMMacau operators still have positive catalysts, says Wells Fargo
Wells Fargo believes that the growth of the Macau VIP market has decelerated, but the firm still expects Macau casino operators to benefit from strong mass trends and profitability. The firm expects Q2 Macau estimates for Las Vegas Sands (LVS), Wynn Resorts (WYNN) and MGM Resorts (MGM) to be revised slightly lower, but Wells does not see any downside risk to 2014 estimates. It keeps Outperform ratings on Las Vegas Sands, Melco Crown, and MGM Resorts. It keeps a Market Perform rating on MGM Resorts.
News For LVS;WYNN;MGM From The Last 14 Days
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April 29, 2015
07:16 EDTWYNNWynn Resorts downgraded to Neutral from Positive at Susquehanna
April 28, 2015
19:18 EDTMGM, LVS, WYNNCasino stocks drop after Wynn's Q1 earnings report
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19:10 EDTWYNN, LVS, MGMOn The Fly: After Hours Movers
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16:16 EDTWYNNWynn Resorts reduces quarterly dividend to 50c
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16:15 EDTWYNNWynn Resorts reports Q1 adjusted EPS 70c, consensus $1.33
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15:44 EDTWYNNWynn Resorts technical comments before results
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15:06 EDTWYNNNotable companies reporting after market close
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08:39 EDTMGMMGM Resorts sends letter to shareholders to refute Land & Buildings accusations
In a letter to shareholders, MGM commented, "Today, we are also compelled to address 0.38% shareholder Land & Buildings' lawed proposal and mischaracterization of MGM's performance and investment decisions. In addition, we want to make clear why the Board members targeted by L&B are integral to the effectiveness of the MGM Board and the success of our business. Contrary to L&B's assertions, MGM is very well positioned to continue delivering value to shareholders and has a clear strategy in place to deliver on the company's potential... In addition to driving the implementation of this strategy, MGM's Board has and will continue to actively evaluate all strategic options for sustainable growth including a partial or total REIT conversion. Our full Board is the right one to oversee your investment in MGM and, as we recently disclosed, Evercore Group L.L.C. has been engaged and added to MGM's team of existing advisors to evaluate all strategic options.... Since 2012, MGM's Board has driven strong operating performance in net revenues and Adjusted Property EBITDA, achieving a 5% net revenue CAGR and 11% Adjusted Property EBITDA CAGR... In addition to implementing a successful strategy to drive MGM's strong operating performance, the Board has successfully positioned the Company for sustainable growth. The Board has thoughtfully allocated capital by enhancing existing properties and has also supported trend setting capital-light partnership strategies. The capital investments the Company is currently making will ensure long-term value creation. We believe L&B's assertion that we stop making those investments in the Company's future is completely unsupportable... If L&B is successful in removing the directors it has targeted, MGM will lose critical experience in labor and government relations, gaming and hospitality, media, international business, public utilities, energy, sustainability, and diversity programs, among other areas that are of critical importance to our business."
April 27, 2015
10:21 EDTWYNNWynn Resorts volatility elevated into Q1 and outlook
Wynn Resorts May weekly call option implied volatility is at 55, May is at 38, June is at 36, September is at 32; compared to its 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q1 results in late April 28.
10:18 EDTWYNNUnion group with Wynn ties launches Macau-focused site, Macau Daily Times says
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09:35 EDTMGMLand and buildings calls for MGM to eliminate Dead Hand Proxy Put provision
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April 24, 2015
13:17 EDTWYNNWynn Resorts says stockholders elect all director nominees at annual meeting
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12:58 EDTWYNNElaine Wynn comments on election results of the Wynn Resorts Annual Meeting
Elaine Wynn, co-founder and third-largest stockholder of Wynn Resorts issued the following statement regarding today's Wynn Resorts 2015 Annual Meeting of Stockholders: "While I am certainly disappointed by the result of today's vote, I am hopeful that I have once again served as an agent for change and improvement for this company, which I love so deeply. I have believed all along that this Board was better and would be held more responsible for its actions with me as a member of it. I am gratified to hear from so many investors that this proxy contest was a success in that it brought to light critical corporate governance concerns at Wynn Resorts such as independence, expertise and diversity in the Boardroom and the impact they have on key issues that our company is facing including compensation practices and succession planning. It remains to be seen if the directors of this company will deliver on the commitments they have made to greater independence, diversity and oversight of management. I, however, as the third-largest stockholder, remain committed to holding all accountable, and will now do so from a position of greater strength. Thank you, my fellow stockholders, for your continued support of me and the continued success of Wynn Resorts for our collective benefit."
April 23, 2015
09:18 EDTLVSOn The Fly: Pre-market Movers
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April 22, 2015
19:14 EDTLVSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Select Comfort (SCSS), up 3.3%... Alliance Fiber Optic (AFOP), up 6.9%... eBay (EBAY), up 6.2%... Cheesecake Factory (CAKE), up 5.6%... O'Reilly Automotive (ORLY), up 3.8%... Corelogic (CLGX), up 3.2%... Skechers (SKX), up 2.5%... AT&T (T), up 1.3%. ALSO HIGHER: ARRIS Group (ARRS), up 24.9% after acquiring Pace plc. for $2.1B in cash and stock... Esperion Therapeutics (ESPR), up 2.5% after being initiated with an Outperform at RBC Capital... Uniqure (QURE), up 3.7% after being initiated with an Outperform at BMO Capital. DOWN AFTER EARNINGS: Texas Instruments (TXN), down 6.7%... Las Vegas Sands (LVS), down 4.2%... Oceaneering International (OII), down 3.7%... F5 Networks (FFIV), down 2.8%... Xilinx (XLNX), down 3.3%... Qualcomm (QCOM), down 3%... Facebook (FB), down 2.2%... Tractor Supply (TSCO), down 3.1%. ALSO LOWER: Noble Corp (NE), down 1.2% after being downgraded to Underweight from Equal Weight at Morgan Stanley.
16:15 EDTLVSLas Vegas Sands slips lower after results
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16:05 EDTLVSLas Vegas Sands reports Q1 adjusted EPS 66c, consensus 72c
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15:30 EDTLVSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include eBay (EBAY), consensus 70c... Facebook (FB), consensus 40c... Texas Instruments (TXN), consensus 62c... Las Vegas Sands (LVS), consensus 72c... Qualcomm (QCOM), consensus $1.33... AT&T (T), consensus 62c... F5 Networks (FFIV), consensus $1.50... Plexus (PLXS), consensus 69c... Skechers (SKX), consensus $1.01... Select Comfort (SCSS), consensus 41c... Tractor Supply (TSCO), consensus 41c... Covanta (CVA), consensus (8c)... Crown Castle (CCI), consensus $1.09... Torchmark (TMK), consensus $1.05... Ameriprise (AMP), consensus $2.33... Polycom (PLCM), consensus 21c... Citrix (CTXS), consensus 65c... Core Laboratories (CLB), consensus 85c... Graco (GGG), consensus 78c... Cheesecake Factory (CAKE), consensus 48c... Equifax (EFX), consensus $1.02... SLM (SLM), consensus 7c... Xilinx (XLNX), consensus 50c... O'Reilly Automotive (ORLY), consensus $1.94... Susquehanna (SUSQ), consensus 18c... Raymond James (RJF), consensus 83c... SL Green Realty (SLG), consensus $1.49... CoreLogic (CLGX), consensus 31c... Oceaneering (OII), consensus 62c... Valmont (VMI), consensus $1.49... Brandywine Realty (BDN), consensus 32c... Weatherford (WFT), consensus 1c.
14:50 EDTWYNN, LVSEarnings Watch: Macau revenue down 37% this year ahead of Las Vegas Sands report
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April 21, 2015
09:08 EDTLVSLas Vegas Sands dividend safe despite Macau prospects, says Susquehanna
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