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Stock Market & Financial Investment News

News Breaks
May 2, 2014
10:27 EDTMGM, LVS, MPEL, WYNNWynn Resorts climbs after results beat expectations
Shares of Wynn (WYNN) and other casino owners are advancing after Wynn reported stronger than expected results last night. WHAT'S NEW: Wynn reported first quarter earnings per share, excluding certain items, of $2.32, versus analysts' consensus estimate of $2.07. The company's revenue was also higher than expected. Wynn stated that revenue from its operations on the Chinese peninsula of Macau had surged 14% to $1.13B in Q1 versus the year ago period. Wynn's revenue from Las Vegas dropped 1.5% from year ago levels, but the occupancy of its hotels in the city jumped 12.6%, while revenue per available room rose 12.7%. However, its gambling winning rate in the city declined. ANALYST REACTION: In a note to investors earlier today, research firm Sterne Agee responded to the company's results by upgrading the stock to Buy from Neutral. The stock had dropped 17% from its 52-week highs as of yesterday's close on worries about demand in Macau, but these worries are mostly unfounded, Sterne Agee analyst David Bain wrote. The company is poised to see its earnings before interest taxes depreciation and amortization, or EBITDA, on Macau more than double after it opens up a new casino, Wynn Palace, in about 18 months, Bain believes. He thinks that the stock has reached an attractive entry point and has a $260 price target on the shares. PRICE ACTION: In early trading, Wynn jumped 6.8% to $220.75, Las Vegas Sands (LVS) rose 2.2% to $81.12, MGM Resorts (MGM) advanced 3.4% to $26.26, and Melco Crown (MPEL) gained 6.6% to $36.62.
News For WYNN;LVS;MGM;MPEL From The Last 14 Days
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September 3, 2015
13:45 EDTWYNNWynn Resorts estimates lowered on Macau weakness at Argus
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September 2, 2015
10:00 EDTWYNNOn The Fly: Analyst Upgrade Summary
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08:22 EDTWYNN, WYNNWynn Resorts upgraded to Buy from Outperform at CLSA
CLSA upgraded Wynn Resorts to Buy from Outperform based on share underperformance and lowered its price target to $104 from $117 on shares.
September 1, 2015
07:03 EDTWYNN, MPEL, LVS, MGMMacau 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 31, 2015
05:37 EDTMGMHulu, Epix announce extensive multi-year agreement
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August 28, 2015
09:34 EDTMGM, LVS, WYNNNevada reports July statewide gaming win down 0.96% to $922.89M
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August 27, 2015
06:03 EDTWYNNWynn Resorts implied volatility of 63 at upper end of index
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August 21, 2015
16:01 EDTLVSOptions Update; August 21, 2015
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07:17 EDTWYNN, MPEL, MGM, LVSMacau 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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