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News Breaks | | | | February 6, 2013 | | 09:58 EDT |  | LVS, MPEL, WYNN | Casino stocks fall on Macau worries
Several stocks of casino owners with facilities in Macau are dropping, after The U.K. Times reported earlier this week that China will "crack down" on Chinese companies that bring wealthy people to the gambling mecca. China is looking to stem the money laundering that occurs in Macau, and the changes will start in late February, the newspaper reported. In a note to investors earlier today, however, Sterne Agee analyst David Bain wrote that the Chinese government's initiative is unlikely to have a long-term impact on stocks. After speaking with sources on the region, Bain wrote that his contacts expect the government's moves to be "almost symbolic." The crackdown will only affect visits to Macau by wealthy Chinese citizens "on the margins," the analysts quotes his sources as saying. China is unlikely to launch major enforcement actions against money laundering, since doing so could destabilize the country's economy, wrote Bain. In early trading, Las Vegas Sands (LVS) fell 2% to $53.57, Wynn (WYNN) gave back 3% to $122, and Melco Crown (MPEL) tumbled 4.5% to $19.70. | |
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News For LVS;WYNN;MPEL From The Last 14 Days Check below for free stories on LVS;WYNN;MPEL the last two weeks. |
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| May 14, 2013 | | 14:23 EDT |  | LVS | Las Vegas Sands loses $70M verdict in Macau suit, AP reports
 Subscribe for More Information | | | 14:14 EDT | | LVS | Las Vegas Sands loses trial over Macau license claims, Bloomberg reports
Subscribe for More Information | | | 14:12 EDT | | LVS | Verdict reached in breach of contract suit against Las Vegas Sands, AP says
The jury, which deliberated for about two days, is expected to announce its ruling soon, Associated Press added. Reference Link | | | 10:01 EDT |  | MPEL | On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AVG Technologies (AVG) downgraded to Neutral from Buy at Goldman... Cigna (CI) downgraded to Hold from Buy at Jefferies... Cree (CREE) downgraded to Neutral from Buy at Sterne Agee... Melco Crown (MPEL) downgraded to Neutral from Buy at UBS... SolarCity (SCTY) downgraded to Neutral from Buy at Roth Capital... KB Home (KBH) downgraded to Market Perform from Outperform at Raymond James... Ryland Group (RYL) downgraded to Underperform from Market Perform at Raymond James... Alere (ALR) downgraded to Hold from Buy at Craig-Hallum... Evolution Petroleum (EPM) downgraded to Hold from Buy at MLV Equity... Oil States (OIS) downgraded to Hold from Buy at BB&T... VIVUS (VVUS) downgraded to Neutral from Buy at Lazard Capital. | | | 09:55 EDT |  | LVS | Las Vegas Sands shares can be boosted by capital returns, says BofA/Merrill
Subscribe for More Information | | | 06:15 EDT | | MPEL | Melco Crown downgraded to Neutral from Buy at UBS
Subscribe for More Information | | | May 13, 2013 | | 09:39 EDT |  | LVS | Active equity option families trading
Active equity option families trading on open according to Track Data: AAPL C TSLA LVS GILD FSLR | | | May 10, 2013 | | 14:04 EDT | | LVS, WYNN | New Jersey reports Atlantic City casino win $228.5M in April
Subscribe for More Information | | | 09:33 EDT | | LVS, WYNN, MPEL | Nevada reports March Las Vegas Strip gaming win up 13% to $507.6M
Subscribe for More Information | | | 09:32 EDT | | MPEL, WYNN, LVS | Nevada reports March statewide gaming win up 7% to $914.78M
Subscribe for More Information | | | | May 8, 2013 | | 08:02 EDT |  | MPEL | Melco Crown reports Q1 adjusted EPADS 24c, consensus 23c
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