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Stock Market & Financial Investment News

News Breaks
June 26, 2014
12:01 EDTMGM, LVS, MPEL, WYNNCasino stocks higher after Macau clarifies UnionPay terminals rule
Casino stocks are moving higher today after Macau's Secretary for the Economy and Finance, Francis Tam clarified rules for UnionPay terminals. WHAT'S NEW: Secretary Tam said jewelers and pawnshops in casinos will still be allowed to use their present China UnionPay terminals to take payments next month, according to a report from MacauBusiness. Tam added that jewelers and pawnshops would simply be prohibited from adding new card devices. PRICE ACTION: In midday trading, shares of Las Vegas Sands (LVS) are up 2.6%, Wynn Resorts (WYNN) shares are up 2.9%, Melco Crown (MPEL) shares up 4.6% and MGM Resorts International (MGM) shares are up 2.78%.
News For LVS;WYNN;MPEL;MGM From The Last 14 Days
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March 31, 2015
10:19 EDTLVSLas Vegas Sands moves up on speculation of an asset spin-off
Las Vegas Sands April weekly 56 and 57 calls are active on total call volume of 7,900 contracts (800 puts) on speculation of an asset spin-off. April weekly call option implied volatility is at 38, April is at 32, May is at 34; compared to its 26-week average of 29 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
10:09 EDTLVSRumor: Las Vegas Sands moves up on speculation of an asset spin-off
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09:33 EDTLVS, WYNN, MGMNevada reports February statewide gaming win down 1.08% to $916.09M
Reports February Las Vegas Strip gaming win down 4.38% to $531.35M. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
March 30, 2015
10:00 EDTMPELOn The Fly: Analyst Downgrade Summary
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06:24 EDTMPELMelco Crown downgraded to Underperform from Neutral at BofA/Merrill
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March 25, 2015
09:40 EDTMPELBernstein global gaming analyst holds analyst/industry conference call
Global Gaming Analyst Umansky discusses initiation on the global gaming industry, focusing on Macau and Singapore, with rating of Outperform for MPEL, Genting Singapore and Sands China and a Market Perform rating for Galaxy Entertainment, MGM China, Wynn Macau and SJM Holdings on an Analyst/Industry conference call to be held on March 30 at 10 am.
07:18 EDTWYNNElaine Wynn sends open letter to Wynn Resorts stockholders
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March 24, 2015
08:08 EDTWYNNWynn Resorts sends letter to stockholders regarding board nominees
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March 23, 2015
11:44 EDTWYNNWynn Resorts calls active amid activist investor speculation
Wynn Resorts March 135 and 136 weekly calls are active on 4K contracts (1K puts) amid activist investor speculation. March weekly call option implied volatility is at 33, April is at 29, May is at 32, June is at 30; compared to its 26-week average of 28 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
11:28 EDTWYNNRumor: Wynn Resorts moves up amid activist investor speculation
10:01 EDTMPELOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Allied World (AWH) initiated with a Market Perform at Keefe Bruyette... Capnia (CAPN) initiated with a Buy at Maxim... Catamaran (CTRX) initiated with a Buy at Mizuho... CyberArk (CYBR) initiated with a Buy at BofA/Merrill... Inotek Pharmaceuticals (ITEK) initiated with a Buy at Canaccord... Kinder Morgan (KMI) initiated with a Buy at Argus... MGM China (MCHVF) initiated with a Market Perform at Bernstein... Maxim Integrated (MXIM) initiated with a Buy at Summit Research... Melco Crown (MPEL) initiated with an Outperform at Bernstein... Microsemi (MSCC) initiated with an Outperform at BMO Capital... Sands China (SCHYY) initiated with an Outperform at Bernstein... Tetraphase (TTPH) initiated with a Buy at Nomura... Vista Outdoor (VSTO) initiated with a Sector Weight at KeyBanc... Wynn Macau (WYNMF) initiated with a Market Perform at Bernstein.
07:39 EDTMPELMelco Crown initiated with an Outperform at Bernstein
Target $32.
07:15 EDTMGMCredit Suisse to hold a conference
18th Annual Asian Investment Conference is being held in Hong Kong on March 23-27.
March 20, 2015
12:24 EDTMGMLand and Buildings issues statement in response to filing of MGM Resorts proxy
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10:11 EDTWYNNElaine Wynn sends letter to Wynn Resorts investors
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March 19, 2015
16:26 EDTWYNNOn The Fly: Closing Wrap
Stocks on Wall Street opened lower but turned mixed early in the day and remained that way for most of the session. The Dow and S&P spent most of the day deep in negative territory, while the Nasdaq managed to stay just above the flat line. Investors had a chance to digest yesterday’s comments from the Fed and may have re-considered whether it latest policy stance was as dovish as originally believed. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average after the close last night, replacing AT&T (T). Shares of Apple finished their first day in the blue chip index down 97c, or 0.76%, at $127.50, while AT&T fell 39c, or 1.16%, to $33.20... Coffee giant Starbucks (SBUX) rose $1.92, or 2%, to close at $97.76 after hitting a new all-time high of $99.20 earlier. The move follows the company's investor day meeting yesterday, where it unveiled plans for two pilots of delivery services, reported a partnership to expand the distribution of its ready-to-drink products in China, and announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992. Goldman Sachs and Wells Fargo were both unphased by the record highs and predicted the rally is not over for Starbucks in upbeat notes on the stock today. MAJOR MOVERS: Among the notable gainers was Amicus Therapeutics (FOLD), which rose $3.11, or 33.26%, to $12.46 after reporting positive results in meetings with the EMA and FDA. Also higher was Wynn Resorts (WYNN), which gained $7.19, or 5.85%, to $130.11 after research firm Brean Capital last night initiated coverage of the stock and several casino peers with Buy ratings. Among the noteworthy losers was Transocean (RIG), which fell $1.09, or 7.15%, to $14.16 after saying that it intends to scrap four rigs and noting that with those it has announced plans to scrap a total of 16 floaters. Also lower after its earnings report was diversified apparel company Vince Holding (VNCE), which fell $3.50, or 16.36%, to $17.89. INDEXES: The Dow fell 117.16, or 0.65%, to 17,959.03, the Nasdaq gained 9.55, or 0.19%, to 4,992.38, and the S&P 500 declined 10.23, or 0.49%, to 2,089.27.
13:30 EDTWYNNWynn Resorts rallies with peers, levels to watch
The stock was last at $128.90, just off the high of the day at $129.12. At current price, next resistance is at $130.96. Given the sharp decline in price over the last year, there is a great deal of technical damage to repair. It would take a move above the 50-day moving average, last at $144.87, to turn the shares back to bullish. Support is at $126.63.
13:00 EDTLVS, MGM, MPEL, WYNNCasino operators jump after analyst starts with Buy ratings
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10:02 EDTMPEL, WYNN, MGM, LVSOn The Fly: Analyst Initiation Summary
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09:37 EDTWYNNActive equity options trading on open
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