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Stock Market & Financial Investment News

News Breaks
June 12, 2014
06:30 EDTMPELMelco Crown shares cheapest among Macau names, says Citigroup
Citigroup says shares of Melco Crown are the cheapest in the Macau gaming space trading at 25% discount to the sector. Citi lowered its 2014 Macau GGR growth forecast to 13% from 22%, but only drops its 2014-2016 earnings estimates for Melco Crown by 1%-4%. The firm calls Melco its top pick in Macau and keeps a Buy rating on the name with a $55 price target.
News For MPEL From The Last 14 Days
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September 1, 2015
07:03 EDTMPELMacau reports August casino revenue down 35.5% to 18.62B patacas
Information on monthly gross revenue from games of fortune published on Macau government website. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN).
August 21, 2015
07:17 EDTMPELMacau developments negative, says Wells Fargo
Wells Fargo says that its checks on Macau for August indicate that the region's revenues are trending flat to down this month. According to Wells, in August the region's revenues are historically up 4% versus July. The firm adds that comments by Macau casino owner Galaxy suggest that the market has not yet bottomed. Wells believes that the market has not yet stabilized and remains neutral on Macau stocks, although it remains upbeat on their long-term outlook. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Crown (MPEL) and Wynn Resorts (WYNN).

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