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May 8, 2014
06:37 EDTMGM, LVS, MPEL, WYNNUnionPay to crack down on Macau money transfers, South China Morning Post says
China's state-backed payment card company, UnionPay, yesterday said it would crack down on illegal money transfers from mainland China to Macau casinos, according to The South China Morning Post. Shares of the operators of the top Macau casinos dropped sharply in China in the wake of the news, the publication added. Publicly traded companies that operate Macau casinos include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN). and Melco Crown (MPEL). Reference Link
News For WYNN;LVS;MGM;MPEL From The Last 14 Days
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April 28, 2015
10:51 EDTMPELMelco Crown downgraded to Neutral from Buy at Goldman
Goldman downgraded Melco Crown to Neutral and lowered the price target to $25.10 from $32.10 and said the company may not fully benefit from MSC opening given its partial ownership gives it less leeway to shift tables around.
10:05 EDTMPELOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Applied Materials (AMAT) downgraded to Neutral from Buy at Nomura... CGI Group (GIB) downgraded to Hold from Buy at Societe Generale... Celladon (CLDN) downgraded to Neutral from Buy at H.C. Wainwright... Coherent (COHR) downgraded to Neutral from Buy at B. Riley... Commerzbank (CRZBY) downgraded to Neutral from Overweight at JPMorgan... Continental Resources (CLR) downgraded to Neutral from Accumulate at Global Hunter... Crestwood Equity (CEQP) downgraded to Neutral from Overweight at JPMorgan... Crestwood Midstream (CMLP) downgraded to Neutral from Overweight at JPMorgan... Discovery (DISCA) downgraded to Sell from Neutral at UBS... Ericsson (ERIC) downgraded to Neutral from Buy at Goldman... First Merchants (FRME) downgraded to Market Perform from Outperform at Fig Partners... MDC Partners (MDCA) downgraded to Sector Perform from Outperform at RBC Capital... Medidata (MDSO) downgraded to Hold from Buy at Jefferies... Melco Crown (MPEL) downgraded to Underweight from Equal Weight at Morgan Stanley... SM Energy (SM) downgraded to Accumulate from Buy at Global Hunter... Springleaf (LEAF) downgraded to Neutral from Outperform at Macquarie... iGATE (IGTE) downgraded to Sector Perform from Outperform at RBC Capital.
08:39 EDTMGMMGM Resorts sends letter to shareholders to refute Land & Buildings accusations
In a letter to shareholders, MGM commented, "Today, we are also compelled to address 0.38% shareholder Land & Buildings' lawed proposal and mischaracterization of MGM's performance and investment decisions. In addition, we want to make clear why the Board members targeted by L&B are integral to the effectiveness of the MGM Board and the success of our business. Contrary to L&B's assertions, MGM is very well positioned to continue delivering value to shareholders and has a clear strategy in place to deliver on the company's potential... In addition to driving the implementation of this strategy, MGM's Board has and will continue to actively evaluate all strategic options for sustainable growth including a partial or total REIT conversion. Our full Board is the right one to oversee your investment in MGM and, as we recently disclosed, Evercore Group L.L.C. has been engaged and added to MGM's team of existing advisors to evaluate all strategic options.... Since 2012, MGM's Board has driven strong operating performance in net revenues and Adjusted Property EBITDA, achieving a 5% net revenue CAGR and 11% Adjusted Property EBITDA CAGR... In addition to implementing a successful strategy to drive MGM's strong operating performance, the Board has successfully positioned the Company for sustainable growth. The Board has thoughtfully allocated capital by enhancing existing properties and has also supported trend setting capital-light partnership strategies. The capital investments the Company is currently making will ensure long-term value creation. We believe L&B's assertion that we stop making those investments in the Company's future is completely unsupportable... If L&B is successful in removing the directors it has targeted, MGM will lose critical experience in labor and government relations, gaming and hospitality, media, international business, public utilities, energy, sustainability, and diversity programs, among other areas that are of critical importance to our business."
08:23 EDTMPELMelco Crown downgraded to Underweight on earnings revisions at Morgan Stanley
As previously reported, Morgan Stanley downgraded Melco Crown to Underweight from Equal Weigh and lowered its price target to $17 from $22. The firm has increased concerns that earnings revisions have yet to bottom due to regulatory pressures, oversupply concerns, and higher than expected operating expenses. Morgan Stanley expects a 50% increase in the number of rooms over the next 18 months and said valuation is not compelling at current levels.
08:03 EDTMPELMelco Crown downgraded to Underweight from Equal Weight at Morgan Stanley
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April 27, 2015
10:21 EDTWYNNWynn Resorts volatility elevated into Q1 and outlook
Wynn Resorts May weekly call option implied volatility is at 55, May is at 38, June is at 36, September is at 32; compared to its 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q1 results in late April 28.
10:18 EDTWYNNUnion group with Wynn ties launches Macau-focused site, Macau Daily Times says
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09:35 EDTMGMLand and buildings calls for MGM to eliminate Dead Hand Proxy Put provision
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April 24, 2015
13:17 EDTWYNNWynn Resorts says stockholders elect all director nominees at annual meeting
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12:58 EDTWYNNElaine Wynn comments on election results of the Wynn Resorts Annual Meeting
Elaine Wynn, co-founder and third-largest stockholder of Wynn Resorts issued the following statement regarding today's Wynn Resorts 2015 Annual Meeting of Stockholders: "While I am certainly disappointed by the result of today's vote, I am hopeful that I have once again served as an agent for change and improvement for this company, which I love so deeply. I have believed all along that this Board was better and would be held more responsible for its actions with me as a member of it. I am gratified to hear from so many investors that this proxy contest was a success in that it brought to light critical corporate governance concerns at Wynn Resorts such as independence, expertise and diversity in the Boardroom and the impact they have on key issues that our company is facing including compensation practices and succession planning. It remains to be seen if the directors of this company will deliver on the commitments they have made to greater independence, diversity and oversight of management. I, however, as the third-largest stockholder, remain committed to holding all accountable, and will now do so from a position of greater strength. Thank you, my fellow stockholders, for your continued support of me and the continued success of Wynn Resorts for our collective benefit."
10:00 EDTMPELOn The Fly: Analyst Downgrade Summary
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07:30 EDTMPELMelco Crown downgraded to Reduce from Neutral at Nomura
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April 23, 2015
09:18 EDTLVSOn The Fly: Pre-market Movers
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April 22, 2015
19:14 EDTLVSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Select Comfort (SCSS), up 3.3%... Alliance Fiber Optic (AFOP), up 6.9%... eBay (EBAY), up 6.2%... Cheesecake Factory (CAKE), up 5.6%... O'Reilly Automotive (ORLY), up 3.8%... Corelogic (CLGX), up 3.2%... Skechers (SKX), up 2.5%... AT&T (T), up 1.3%. ALSO HIGHER: ARRIS Group (ARRS), up 24.9% after acquiring Pace plc. for $2.1B in cash and stock... Esperion Therapeutics (ESPR), up 2.5% after being initiated with an Outperform at RBC Capital... Uniqure (QURE), up 3.7% after being initiated with an Outperform at BMO Capital. DOWN AFTER EARNINGS: Texas Instruments (TXN), down 6.7%... Las Vegas Sands (LVS), down 4.2%... Oceaneering International (OII), down 3.7%... F5 Networks (FFIV), down 2.8%... Xilinx (XLNX), down 3.3%... Qualcomm (QCOM), down 3%... Facebook (FB), down 2.2%... Tractor Supply (TSCO), down 3.1%. ALSO LOWER: Noble Corp (NE), down 1.2% after being downgraded to Underweight from Equal Weight at Morgan Stanley.
16:15 EDTLVSLas Vegas Sands slips lower after results
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16:05 EDTLVSLas Vegas Sands reports Q1 adjusted EPS 66c, consensus 72c
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15:30 EDTLVSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include eBay (EBAY), consensus 70c... Facebook (FB), consensus 40c... Texas Instruments (TXN), consensus 62c... Las Vegas Sands (LVS), consensus 72c... Qualcomm (QCOM), consensus $1.33... AT&T (T), consensus 62c... F5 Networks (FFIV), consensus $1.50... Plexus (PLXS), consensus 69c... Skechers (SKX), consensus $1.01... Select Comfort (SCSS), consensus 41c... Tractor Supply (TSCO), consensus 41c... Covanta (CVA), consensus (8c)... Crown Castle (CCI), consensus $1.09... Torchmark (TMK), consensus $1.05... Ameriprise (AMP), consensus $2.33... Polycom (PLCM), consensus 21c... Citrix (CTXS), consensus 65c... Core Laboratories (CLB), consensus 85c... Graco (GGG), consensus 78c... Cheesecake Factory (CAKE), consensus 48c... Equifax (EFX), consensus $1.02... SLM (SLM), consensus 7c... Xilinx (XLNX), consensus 50c... O'Reilly Automotive (ORLY), consensus $1.94... Susquehanna (SUSQ), consensus 18c... Raymond James (RJF), consensus 83c... SL Green Realty (SLG), consensus $1.49... CoreLogic (CLGX), consensus 31c... Oceaneering (OII), consensus 62c... Valmont (VMI), consensus $1.49... Brandywine Realty (BDN), consensus 32c... Weatherford (WFT), consensus 1c.
14:50 EDTMPEL, LVS, WYNNEarnings Watch: Macau revenue down 37% this year ahead of Las Vegas Sands report
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April 21, 2015
09:08 EDTLVSLas Vegas Sands dividend safe despite Macau prospects, says Susquehanna
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April 20, 2015
12:18 EDTWYNNWynn Resorts urges stockholders to vote for director nominees
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