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Stock Market & Financial Investment News

News Breaks
May 2, 2014
10:27 EDTWYNN, MGM, LVS, 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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May 29, 2015
09:46 EDTWYNNWynn Resorts management to meet with JPMorgan
Meeting to be held in New York on June 1 hosted by JPMorgan.
09:31 EDTLVS, WYNN, MGMNevada reports April Statewide gaming win up 5.4% to $897.93M
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May 28, 2015
08:07 EDTLVSLas Vegas Sands recommends shareholders reject TRC Capital's mini-tender offer
Las Vegas Sands received notice of an unsolicited mini-tender offer by TRC Capital to purchase up to 2,500,000 shares of LVS's common stock at a price of $47.63 per share in cash, without interest. The offering price is approximately 4.61% below the closing price per share of LVS's common stock on May 26, 2015, the last trading day before the mini-tender offer was commenced. The offer is for approximately 0.31% of the outstanding shares of LVS's common stock. LVS does not endorse this unsolicited mini-tender offer and recommends that shareholders reject the offer because the offer price is below the current market price for LVS shares and is subject to numerous conditions, including TRC Capital obtaining sufficient financing necessary to consummate the offer. LVS also recommends that any shareholders who have tendered shares to TRC Capital withdraw those shares by providing the written notice described in the offering documentation before the expiration of the offer, which is currently scheduled for 12:01 a.m. Eastern Time on June 25, 2015.
May 26, 2015
20:50 EDTLVSBernstein to hold a conference
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07:29 EDTLVSLawsuit against Las Vegas Sands to proceed in U.S., Guardian reports
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May 22, 2015
06:03 EDTWYNNStocks with implied volatility below IV index mean; OCR WYNN
Stocks with implied volatility below IV index mean; Omnicare (OCR) 7, Wynn Resorts (WYNN) 30 according to iVolatility.
May 20, 2015
08:37 EDTWYNN, MGMMorgan Stanley to hold a conference
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May 19, 2015
16:39 EDTMGMLand and Buildings will not nominate slate at MGM 2015 annual meeting
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06:02 EDTMGMMGM Resorts signs agreement with Revionics
Revionics announced that MGM Resorts International has signed a multi-year agreement for Revionics Price Optimization to enhance retail pricing strategies throughout its U.S. properties, including Bellagio, MGM Grand, Mandalay Bay, The Mirage and other properties.
May 18, 2015
15:23 EDTWYNNWynn Resorts management to meet with JPMorgan
Meeting to be held in New York on May 21 hosted by JPMorgan.
10:01 EDTLVSOn The Fly: Analyst Downgrade Summary
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07:40 EDTLVSLas Vegas Sands downgraded to Neutral from Buy at Goldman
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