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Stock Market & Financial Investment News

News Breaks
June 11, 2014
11:45 EDTLVS, WYNN, MPEL, MGMMacau stocks rise after analyst calls sell-off excessive
Shares of companies that operate casinos in the Chinese region of Macau are advancing after Credit Suisse wrote that the recent sell-off in the stocks has been excessive. WHAT'S NEW: Investors have been concerned about decelerating revenue from the most prolific gamblers in Macau, commonly known as VIPs, Credit Suisse analyst Isis Wong wrote. However, Wong reported that other customers account for 60% of Macau casinos' earnings, adding that the non-VIP segment is still growing strongly, registering 36% growth so far this year. Additionally, the stocks' drop so far this month implies that investors are expecting the casinos' VIP revenue to tumble 25%, in-line with the drop in the wake of the financial crisis in the first half of 2009, according to Wong, who indicated that she thinks this scenario is unrealistic. Moreover, the average daily revenue of Macau casinos has actually been "very steady" over the past few months, the analyst stated. PRICE ACTION: In late morning trading, Melco Crown (MPEL) advanced 4% to $32, Wynn Reports (WYNN) rose 1.5% to $200, MGM Resorts (MGM) advanced 1.5% to $25, and Las Vegas Sands (LVS) gained 1% to $74.
News For MPEL;LVS;MGM;WYNN From The Last 14 Days
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March 18, 2015
16:23 EDTMGMMGM Resorts initiated with a Buy at Brean Capital
Target $27.
16:23 EDTMPELMelco Crown initiated with a Buy at Brean Capital
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16:00 EDTMGMOptions Update; March 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.20 to 26.10. Option volume leaders: AAPL RAD PBR TWTR FB TSLA CLF BP MGM according to Track Data.
10:00 EDTWYNN, MGM, LVSOn The Fly: Analyst Downgrade Summary
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09:13 EDTMGMMGM Resorts potential REIT conversion would unlock value, says Morgan Stanley
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08:28 EDTLVS, LVSLas Vegas Sands downgraded to Outperform from Buy at CLSA
CLSA downgraded Las Vegas Sands to Outperform and lowered its price target to $60 from $80 as part of Macau sector downgrade to reflect disappointing run rates year-to-date and expectations for more negative newsflow. See sector note for further information.
08:28 EDTWYNN, WYNNWynn Resorts downgraded to Outperform from Buy at CLSA
CLSA downgraded Wynn Resorts to Outperform and lowered its price target to $140 from $264 as part of Macau sector downgrade to reflect disappointing run rates year-to-date and expectations for more negative newsflow. See sector note for further information.
08:28 EDTMGM, MGMMGM Resorts downgraded to Outperform from Buy at CLSA
CLSA downgraded MGM Resorts to Outperform and lowered its price target to $25 from $29 as part of Macau sector downgrade to reflect disappointing run rates year-to-date and expectations for more negative newsflow. See sector note for further information.
08:24 EDTMGM, MGM, WYNN, WYNN, LVS, LVSMacau sector downgraded at CLSA
CLSA downgraded the Macau sector given disappointing run rates year-to-date and expectations for more negative newsflow. The firm said the anti-corruption campaign continues to pressure VIP and premium mass customer visits. CLSA now expects 2015 EBITDA growth of -26%, lowered its view of VIP growth to -32% from -14%, reduced mass growth to -17% from -2%, and now expects new Cotai projects ROIC to average only +18, down from +35% previously. As part of the sector view change, the firm downgraded Las Vegas Sands (LVS), MGM Resorts (MGM), and Wynn Resorts (WYNN) to Outperform from Buy.
05:55 EDTMGMStocks with implied volatility movement; MGM CY
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March 17, 2015
16:26 EDTMGMOn The Fly: Closing Wrap
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16:00 EDTMGMOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
10:11 EDTMGMMGM Resorts trades sharply higher as activist suggests REIT conversion
Land and Buildings laid out a proposal to unlock value in the shares by pursuing a REIT conversion at MGM Resorts. At the current price of $21.36, the stock is up over 8.6%. Resistance initially is at the session high at $21.50, and then at $21.76. Support is at the 50-day moving average at $20.73.
09:25 EDTMGMLand and Buildings proposes REIT conversion for MGM Resorts
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March 16, 2015
13:11 EDTWYNNWynn Resorts urges holders to vote the WHITE proxy card
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12:29 EDTWYNNElaine Wynn urges Wynn Resorts investors to take no action on proxy card
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10:02 EDTWYNN, MPELOn The Fly: Analyst Downgrade Summary
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09:37 EDTLVSActive equity options trading on open
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08:04 EDTMPELMelco Crown downgraded to Equal Weight from Overweight at Morgan Stanley
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08:01 EDTWYNNWynn Resorts downgraded to Equal Weight from Overweight at Morgan Stanley
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