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March 14, 2014
08:22 EDTLVS, MPEL, WYNN, MGMMacau growth should be strong in 2014, says Wells Fargo
Wells Fargo expects 2014 to be another strong year for growth in Macau, and the firm reports that Q1 Macau gaming revenue is tracking up about 20% year-over-year, well above expectations. The firm expects Las Vegas Sands (LVS), Melco Crown (MPEL), MGM (MGM) and Wynn Resorts (WYNN) to beat Q1 Macau consensus property EBITDA estimates by 3%-6%. Wells thinks valuations in the sector remains undemanding, and expects margins among companies in the space to rise.
News For WYNN;LVS;MGM;MPEL From The Last 14 Days
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January 28, 2016
08:33 EDTLVSOptions expected to be active
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08:18 EDTLVSLas Vegas Sands long-term risk/reward 'compelling,' says Stifel
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January 27, 2016
19:30 EDTWYNN, MGM, LVSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Facebook (FB), up 11.4%... Mellanox (MLNX), up 6.4%... Paypal (PYPL), up 5%... Crown Castle (CCI), up 2.2%... Citrix (CTXS), up 2.4%... Las Vegas Sands (LVS), up 1%... SanDisk (SNDK), up 1%. ALSO HIGHER: Radius Health (RDUS), up 1.2% after announcing a clinical collaboration with Novartis (NVS)... LinkedIn (LNKD) is up 2.4%, Alphabet (GOOG, GOOGL) is up 2.2% and 2.6%, respectively, Netflix (NFLX) is up 1%, (AMZN) is up 2%, and Twitter (TWTR) is up marginally after Facebook reported quarterly results... MGM Resorts (MGM) is up 2.2% and Wynn Resorts (WYNN) is up 2.2%. DOWN AFTER EARNINGS: ServiceNow (NOW), down 16.5%... eBay (EBAY), down 12.8%... United Rentals (URI), down 9.7%... Juniper Networks (JNPR), down 9.6%... Silicon Graphics (SGI), down 9.1%... Discover Financial (DFS), down 7.4%... InvenSense (INVN), down 6.1%... Core Laboratories (CLB), down 4.3%... Vertex Pharmaceuticals (VRTX), down 1.1%. ALSO LOWER: Incyte (INCY), down 12.8% after announcing that it will halt the Phase 2 sub-study of ruxolitinib or placebo in combination with regorafenib after a planned interim analysis of the high CRP subgroup demonstrated that ruxolitinib plus regorafenib did not show a sufficient level of efficacy to warrant continuation.
19:17 EDTLVS, WYNN, MGMMacau-linked casino names climb after Las Vegas Sands posts quarterly results
Casino stocks with exposure to Macau are higher in after-hours trading after Las Vegas Sands reported fourth quarter sales and profit. WHAT'S NEW: Las Vegas Sands reported Q4 adjusted earnings per share of 62c and hold-normalized adjusted EPS of 64c, against analyst estimates of 65c, and Q4 revenue of $2.86B, below consensus expectations of $2.92B. The company reported Four Seasons Macau adjusted property Earnings Before Income Tax, Depreciation, and Amortization, or EBITDA, was down 29% to $65.8M in Q4, while Sands Macau Q4 adjusted property EBITDA was $51.3M. In Singapore, the Marina Bay Sands adjusted property EBITDA was $338.2M, and on a hold-normalized basis, adjusted property EBITDA was $374.8M. WHAT'S NOTABLE: Las Vegas Sands also increased its quarterly dividend to 72c per share from 65c per share. During the company's earnings conference call, CEO Sheldon Adelson said management has "steadfast confidence" in both the company and Macau's future. Adelson added that the company is optimistic in returning excess capital to shareholders through share repurchases and dividends. PRICE ACTION: Shares of Las Vegas Sands are higher by roughly 1% to $42.00 in after-hours trading. OTHERS TO WATCH: Following Las Vegas Sands' Q4 results, Wynn Resorts (WYNN) is up 2.44% and MGM Resorts (MGM) is up 2.21%.
16:25 EDTLVSLas Vegas Sands up 1% after reporting Q4 results, dividend increase
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16:24 EDTLVSLas Vegas Sands reports Q4 Marina Bay Sands adjusted property EBITDA $338.2M
The impact of the stronger U.S. dollar negatively impacted the financial results and key performance indicators of Marina Bay Sands in Singapore in the current quarter. Low win percentage on table games play also negatively impacted our reported financial results. The property generated adjusted property EBITDA of $338.2M. On a hold-normalized basis, adjusted property EBITDA was $374.8M. On a constant-currency basis, hold-normalized adjusted property EBITDA decreased 10.1%. On a constant-currency basis, and excluding the property tax refund from the prior year quarter, hold-normalized adjusted property EBITDA increased 11.8%. Rolling Chip win percentage of 2.39% in Q4 of 2015 was below the expected range and considerably below the 3.58% achieved in Q4 of 2014. Rolling Chip volume was $10.12B for the quarter. Non-Rolling Chip drop was $976.4M during the quarter with a Non-Rolling Chip win percentage of 28.5%. Slot handle increased 6.3% to $3.32B for the quarter compared to the year-ago quarter. Total mass win-per-day during the quarter was $4.6M and was an all-time quarterly record for the property in local currency terms.
16:22 EDTLVSLas Vegas Sands reports Sands Macao Q4 adjusted property EBITDA $51.3M
Sands Macao's adjusted property EBITDA was $51.3M. Non-Rolling Chip drop was $716.4M during the quarter, while slot handle was $661.5M. Rolling Chip volume was $2.7B for the quarter. The property realized 3.18% win on Rolling Chip volume during the quarter, below the 3.57% generated in the year-ago quarter.
16:21 EDTLVSLas Vegas Sands reports Q4 Four Seasons Macao adjusted property EBITDA $65.8M
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16:20 EDTLVSLas Vegas Sands raises quarterly dividend to 72c per share from 65c per share
Las Vegas Sands announced that its next recurring quarterly dividend of 72c per common share will be paid on March 31, to Las Vegas Sands shareholders of record on March 22.
16:16 EDTLVSLas Vegas Sands reports Sands China revenue down 21.7% to $1.66B
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16:15 EDTLVSLas Vegas Sands reports Macao adjusted property EBITDA $575.3M
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16:12 EDTLVSLas Vegas Sands reports hold-normalized adjusted EPS 64c, consensus 65c
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16:11 EDTLVSLas Vegas Sands reports Q4 adjusted EPS 62c, consensus 65c
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14:34 EDTLVSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Facebook (FB), consensus 68c... Qualcomm (QCOM), consensus 90c... Texas Instruments (TXN), consensus 69c... McKesson (MCK), consensus $3.13... PayPal (PYPL), consensus 35c... Las Vegas Sands (LVS), consensus 65c... eBay (EBAY), consensus 50c... Crown Castle (CCI), consensus $1.10... Vertex (VRTX), consensus 17c... Discover (DFS), consensus $1.30... SanDisk (SNDK), consensus 89c... ServiceNow (NOW), consensus 8c... Lam Research (LRCX), consensus $1.43... Citrix Systems (CTXS), consensus $1.19... Hologic (HOLX), consensus 42c... Juniper (JNPR), consensus 59c... Cavium (CAVM), consensus 28c... Cirrus Logic (CRUS), consensus 81c.
14:31 EDTLVSLas Vegas Sands January weekly 42 straddle priced for 4.7% movement into Q4
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14:25 EDTLVSEarnings Watch: Analyst sees 'no surprises' in Las Vegas Sands report
Las Vegas Sands (LVS) is expected to report fourth quarter earnings after the close on Wednesday, January 27, with a conference call scheduled for 4:30 pm ET. Las Vegas Sands is a resort developer with principal operations in Macao, Singapore, and the U.S. EXPECTATIONS: Analysts are looking for earnings per share of 65c on revenue of $2.92B. The consensus EPS range is 61c-72c, while revenue expectations range from $2.84B-$3.02B, according to First Call. LAST QUARTER: On October 21, Sands reported third quarter adjusted earnings per share of 66c versus expectations for 64c, and Q3 revenue of $2.89B against a consensus estimate of $2.97B. Additionally, Las Vegas Sands reported Q3 adjusted property EBITDA of $1.05B, and Q3 Macao adjusted property EBITDA of $536.8M. CEO Sheldon Adelson said at the time, "While the operating environment in Macao, particularly in the high-end gaming segments, remained challenging during the quarter, our focus on the higher margin mass and non-gaming segments and the geographic diversification of our cash flows allowed us to again deliver in excess of $1B of adjusted property EBITDA during the quarter and weather this cyclical downturn better than the industry overall. We remain sharply focused on the consistent execution of our global growth strategy, which leverages the power of our unique convention-based Integrated Resort business model." STREET RESEARCH: Following the Q3 earnings report, on October 27, Las Vegas Sands was initiated with a Buy at Gabelli with a $60 price target. On the same day, the company was downgraded to Equal Weight from Overweight at Barclays with its price target lowered to $45 from $55. Barclays analyst Felicia R. Hendrix said she believed the 2016 gross gaming revenue growth for Macau would be negative given continued VIP and premium mass revenue declines and slower than expected growth in the mass segment. On January 25, Deutsche Bank analyst Carlo Santarelli said in his Q4 preview of Las Vegas Sands that he sees "no major surprises" in the report, adding, "while we believe Q4 earnings are more than likely a supportive to modestly positive catalyst for shares, we expect medium to longer term trading to be largely Macau market sentiment driven." Santarelli has a Hold rating and a $42 price target on Las Vegas Sands shares. PRICE ACTION: Over the last three months, Las Vegas Sands shares have fallen about 12%. In afternoon trading ahead of Wednesday's earnings report, shares are higher by more than 2.5% to $41.95.
14:07 EDTWYNNWynn Resorts says Macau contractor disputes assessment of damages
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January 26, 2016
13:50 EDTLVSLas Vegas Sands technical notes ahead of earnings
The shares have been in a steady downtrend since the trend began in March 2013. At the current price of $40, the stock would need to take out the $45 area on the upside to break the current downtrend. This would be a technical positive and bullish for future price. Next resistance would be at $47.42. If the news continues to be bearish, the downtrend is likely to extend. First support below $40 is at $38.32. Thereafter support is at $36.77 and the 52-week low at $34.88.
09:57 EDTLVSJanuary weekly straddle priced for % movement.
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January 25, 2016
09:53 EDTWYNNWynn Resorts rises after Steve Wynn buys shares
Shares of Wynn Resorts are rising in early trading after a regulatory filing from late Friday night showed that Chairman and CEO Steve Wynn, via the Wynn Family Limited Partnership, acquired 572,850 shares of the company's common stock at average prices between $53.21 and $59.19 in multiple transactions on January 20-22. In early trading Monday morning, Wynn Resorts shares gained 6.5% to $63.01.
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