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Stock Market & Financial Investment News

News Breaks
May 12, 2014
09:50 EDTMPELMelco Crown long-term story, valuation still compelling, says Janney Capital
Janney Capital attributes recent weakness in Melco Crown shares on a recent report that UnionPay was cracking down on illegal use of payment cards and a story regarding a junket operator who was said to have disappeared with over $1B. Janney said the UnionPay action was mostly related to mobile and the firm doesn't expect it to have a long-term impact. Janney also said its sources indicate the junket operator figure was overblown by the press. The firm maintains its Buy rating and $50 fair value estimate on Melco.
News For MPEL From The Last 14 Days
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August 7, 2014
09:08 EDTMPELOn The Fly: Pre-market Movers
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08:58 EDTMPELMelco Crown announces $500M share repurchase program
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08:58 EDTMPELMelco Crown reports Taiwan branch office indicted for alleged banking violations
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08:25 EDTMPELMelco Crown reports Q2 EPS 26c, consensus 36c
Reports Q2 revenue $1.19B, consensus $1.3B.
August 6, 2014
15:18 EDTMPELMelco Crown technical remarks ahead of earnings
In the prior three months the shares have broadly underperformed the broader averages, falling over 16% including today's drop in price. The move today has put the shares right at the $30 area, which is critical for the longer-view technical health of the shares. While there has been a sharp decline from peak price earlier this year at $45.70, a breakdown below $30 would turn the long-term trend to bearish. If there is negative news, particularly concerning Macau operations where the company is heavily focused, the shares could fall further. Next support below $30 would be at $28,74, $26.53, and $25.53 which is the 52-week low. If the news is better than expected, resistance levels to watch as potential upside objectives would be at $31.97, $35.31, and $36.84. There is a minimal short-base in the name which could exacerbate downside in the event that news is more negative than anticipated.

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