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Stock Market & Financial Investment News

News Breaks
May 2, 2014
10:27 EDTWYNN, LVS, MGM, MPELWynn 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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October 30, 2014
08:07 EDTMGMMGM Resorts reports Q3 net revenue at domestic results up 2%
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08:06 EDTMGMMGM Resorts: MGM China reports Q3 12% increase in EBITDA to $214M
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08:06 EDTMGMMGM Resorts: Las Vegas continues to improve with revenue growth of 3%
The company added, "While we expected to have some negative impact to margins during the quarter as a result of the disruptions related to our investments in Delano at Mandalay Bay and the Strip frontage at Monte Carlo, we were also negatively affected by lower year over year table games hold and an increase in certain expenses. Looking forward, we remain highly focused on increasing revenues and expanding margins while driving operating leverage in an improving market."
08:05 EDTMGMMGM Resorts reports Q3 EPS 4c, consensus 6c
Reports Q3 revenue $2.49B, consensus $2.49B
October 28, 2014
16:23 EDTWYNNWynn Resorts raises quarterly dividend 20% to $1.50 per share
Wynn Resorts also announced that the company has approved a new quarterly cash dividend of $1.50 per common share, a 20% increase from its previous regular dividend. The company has also approved an additional cash dividend of $1.00 per share. The total dividend of $2.50 per share will be payable on November 25 to stockholders of record on November 12.
16:22 EDTWYNNWynn Resorts reports Q3 adjusted EPS $1.95, consensus $1.84
Reports Q3 revenue $1.37B, consensus $1.37B.
09:34 EDTMGM, LVS, WYNNNevada reports September statewide gaming win down 5.97% to $901.7M
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08:07 EDTLVSLas Vegas Sands 17M share Block Trade priced at $60.00
The deal range was $59.90-$60.25. Barclays acted as sole book running manager for the offering.
October 27, 2014
13:31 EDTWYNNWynn Resorts weekly volatility elevated into Q3 and outlook
Wynn Resorts October weekly call option implied volatility is at 49, November is at 30, December is at 29, January is at 26; compared to its 26-week average of 31 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 28.
October 23, 2014
18:34 EDTMGMEaton contracted to provide MGM Resorts with power management solutions
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10:01 EDTMPELOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 3D Systems (DDD) downgraded to Hold from Buy at Brean Capital... Angie's List (ANGI) downgraded to Hold from Buy at Needham... Avalon Rare Metals (AVL) downgraded to Neutral from Buy at Citigroup... Axiall (AXLL) downgraded at Cowen... BB&T (BBT) downgraded to Neutral from Buy at Goldman... Boeing (BA) downgraded at Credit Suisse... Boulder Brands (BDBD) downgraded to Hold from Buy at Canaccord... Citrix (CTXS) downgraded to Hold from Buy at Drexel Hamilton... ClickSoftware (CKSW) downgraded to Hold from Buy at Lake Street... DTS, Inc. (DTSI) downgraded to Underweight from Neutral at JPMorgan... GulfMark Offshore (GLF) downgraded to Market Perform from Outperform at Cowen... Home Loan Servicing (HLSS) downgraded to Neutral from Buy at Compass Point... ICON plc (ICLR) downgraded to Equal Weight from Overweight at First Analysis... IPC The Hospitalist Co. (IPCM) downgraded to Market Perform at Wells Fargo... Melco Crown (MPEL) downgraded to Neutral from Buy at Nomura... Mercer (MERC) downgraded at Credit Suisse... ONEOK Partners (OKS) downgraded to Neutral from Buy at BofA/Merrill... Owens Corning (OC) downgraded to Neutral from Overweight at JPMorgan... Regency Energy Partners (RGP) downgraded to Neutral from Buy at BofA/Merrill... The Medicines Co. (MDCO) downgraded to Neutral from Buy at BofA/Merrill... Tupperware Brands (TUP) downgraded to Neutral from Overweight at JPMorgan... Union Bankshares (UBSH) downgraded at RW Baird... VOC Energy Trust (VOC) downgraded at RBC Capital... Yelp (YELP) downgraded to Hold from Buy at Stifel.
09:15 EDTMGMNRG Energy and MGM Resorts to install convention center solar array
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09:07 EDTMPELMelco Crown downgraded to Neutral from Buy at Nomura
October 21, 2014
15:35 EDTWYNNNotable companies reporting before tomorrow's open
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