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Stock Market & Financial Investment News

News Breaks
January 11, 2013
10:42 EDTMPELTaiwan probes illegal money transfers for use in Macau casinos
Taiwanese prosecutors in the Taipei district said yesterday they were investigating an unnamed firm they suspected of circumventing forex rules to carry out huge money transfers for use in Macau casinos, according to report from Macaubusiness.com, citing the AFP. Prosecutors declined to identify the firm, but Wells Fargo said in a note to investors this morning that press reports suggest MCE International, a subsidiary of Melco Crown (MPEL), may be one company in question. Wells analyst Cameron McKnight said any weakness in Melco shares following the news of the investigation would present a buying opportunity, as the probe may not be may not be specific to gaming or to Melco Crown. McKnight said Melco may report strong Q4 results when it announces earnings in early February and kept an Outperform rating on shares. Melco Crown declined 36c, or about 1.9%, to $18.70 in morning trading.
News For MPEL From The Last 14 Days
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December 19, 2014
09:04 EDTMPELMelco Crown identified as top 2015 gaming pick at Sterne Agee
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December 17, 2014
11:09 EDTMPELMacau gaming facts in SCMP article are not new, says JPMorgan
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December 16, 2014
15:37 EDTMPELChina to start crackdown on illicit funds to Macau, SCMP says
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December 9, 2014
13:06 EDTMPELMelco Crown management to meet with Sterne Agee
Meeting to be held in New York on December 11 hosted by Sterne Agee.

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