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Stock Market & Financial Investment News

News Breaks
May 2, 2014
10:27 EDTMPEL, WYNN, MGM, LVSWynn 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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January 28, 2015
16:04 EDTLVSLas Vegas Sands reports Q4 adjusted EPS 92c, consensus 81c
Reports Q4 revenue $3.42B, consensus $3.51B.
15:37 EDTLVSNotable companies reporting after market close
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15:25 EDTLVSLas Vegas Sands January weekly 56 straddle priced for 4.3% movement into Q4
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14:22 EDTLVSLas Vegas Sands technical notes ahead of earnings
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08:17 EDTLVSLas Vegas Sands volatility elevated into Q4 and outlook
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January 26, 2015
10:00 EDTMPELOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Axle (AXL) upgraded to Overweight from Neutral at JPMorgan... Bed Bath & Beyond (BBBY) upgraded to Outperform from Perform at Oppenheimer... DRDGOLD (DRD) upgraded to Neutral from Underweight at JPMorgan... DealerTrack (TRAK) upgraded to Buy from Hold at Stifel... DreamWorks Animation (DWA) upgraded to Buy from Neutral at B. Riley... First Niagara (FNFG) upgraded to Buy from Hold at Jefferies... Fortinet (FTNT) upgraded to Buy from Neutral at Citigroup... Garmin (GRMN) upgraded at RBC Capital... Harmony Gold (HMY) upgraded to Overweight from Neutral at JPMorgan... Invesco (IVZ) upgraded to Positive from Neutral at Susquehanna... Kansas City Southern (KSU) upgraded at Raymond James... McDonald's (MCD) upgraded to Overweight from Equal Weight at Stephens... Melco Crown (MPEL) upgraded to Buy from Hold at Union Gaming... Monro Muffler (MNRO) upgraded to Neutral from Reduce at SunTrust... Pier 1 Imports (PIR) upgraded to Outperform from Perform at Oppenheimer... Piper Jaffray (PJC) upgraded to Neutral from Underperform at Macquarie... Randgold (GOLD) upgraded to Overweight from Neutral at JPMorgan... Rockwell Collins (COL) upgraded to Buy from Hold at Argus... Telefonica (TEF) upgraded to Neutral from Underperform at BofA/Merrill... Triumph Group (TGI) upgraded at RBC Capital... Unilever (UL) upgraded to Buy from Underperform at BofA/Merrill... WWE (WWE) upgraded to Neutral from Underperform at Macquarie.
08:17 EDTMPELMelco Crown upgraded to Buy from Hold at Union Gaming
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January 23, 2015
08:20 EDTLVSSands China names Sheldon Adelson as CEO
The board of directors of Sands China Ltd. announced that: (A) Sheldon Gary Adelson, the Chairman and a non-executive director of the company, will be appointed as the CEO of the company and re-designated as an executive director of the company, in each case, with effect from March 6. After the appointment and re-designation, Adelson will be the Chairman, the CEO and an Executive Director of the company; (B) Robert Glen Goldstein, a Non-Executive Director, will be appointed as the Interim President and re-designated as an Executive Director of the company, in each case, with effect from March 6. After the appointment and re-designation, Goldstein will be the Interim President and an Executive Director of the company; and (C) Goldstein will also be appointed as a member of the CAPEX Committee with effect from March 6.
January 22, 2015
10:03 EDTWYNN, LVS, MGMOn the Fly: Analyst Initiation Summary
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09:43 EDTLVSActive equity options trading
Active equity options trading according to Track Data: AAPL DG ABX AMZN FXCM LVS FFIV INFI SD
08:17 EDTWYNNWynn Resorts initiated with a Buy at Union Gaming Research
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08:17 EDTMGMMGM Resorts initiated with a Buy at Union Gaming Research
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08:17 EDTLVSLas Vegas Sands initiated with a Buy at Union Gaming Research
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January 21, 2015
10:01 EDTWYNN, LVSOn The Fly: Analyst Downgrade Summary
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07:55 EDTLVSLas Vegas Sands downgraded to Neutral from Buy at Nomura
Nomura downgraded Las Vegas Sands to Neutral to reflect lower Macau EBITDA forecasts following Beijing's tightening and enforcing of travel and capital flow regulations. The Price target lowered to $54 from $70.
07:55 EDTWYNNWynn Resorts downgraded to Neutral from Buy at Nomura
Nomura downgraded Wynn Resorts to Neutral to reflect lower Macau EBITDA forecasts following Beijing's tightening and enforcing of travel and capital flow regulations. The Price target lowered to $149 from $209.
January 20, 2015
17:24 EDTWYNNWynn Resorts decreases base salary of CEO Stephen Wynn
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16:00 EDTMGMOptions Update; January 20, 2015
iPath S&P 500 VIX Short-Term Futures down 36c to 35.12 Option volume leaders: AAPL TSLA TWTR GILD NFLX MGM ABX AMAT JNJ C according to Track Data.
January 18, 2015
16:07 EDTWYNN, LVS, MPEL, MGMMacau junket operator reduces operations, Bloomberg says
As China’s anti-graft drive reduces customer traffic in Macau, David Group, a junket operator that serves higher-spending casino customers, is closing some rooms in the city, says Bloomberg. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN) and Melco Crown (MPEL). Reference Link
January 16, 2015
06:18 EDTLVSSands China CEO Edward Tracy to retire, effective March 6
he board of directors of Sands China Ltd. announces the retirement of Edward Matthew Tracy as President and CEO of the company, a director of the company, a member of the Sands China Capital Expenditure Committee, and a director of various subsidiaries of the company, in each case, with effect from March 6. Tracy has decided to retire. He will be engaged by the company as a consultant from March 7. Tracy will continue to work with the senior management team during the transition and consultancy. Tracy has confirmed that he has no disagreement with the Board, and there are no matters that need to be brought to the attention of the shareholders of the company in respect of his retirement. It is proposed that the Nomination Committee of the Board will meet on January 23 and, in accordance with its terms of reference, consider candidates and make recommendations to the Board on the appointment of a new CEO.
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