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Stock Market & Financial Investment News

News Breaks
August 7, 2014
09:26 EDTWYNNWynn Resorts upgraded at Craig-Hallum
As previously reported, Craig-Hallum upgraded Wynn Resorts to Buy from Hold. The analyst upgraded shares citing an attractive entry point and believes shares now discount concerns of the Chinese government corruption crackdown, junket credit availability and economic uncertainty. The firm expects meaningful top-line growth in 2016 when Wynn Palace in Cotai opens and believes it is one of the front runners for a Japan casino license. Price target is $244.
News For WYNN From The Last 14 Days
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June 26, 2015
09:32 EDTWYNNNevada reports May Statewide gaming win up 3.33% to $1.0B
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June 19, 2015
07:38 EDTWYNNMacau official says monthly revenue could hit four year low, says Wells Fargo
Wells Fargo reports that a Macau official said that the region's gaming revenue may hit the lowest level in over four years this month. The official said that the region's June gambling revenue could be more than 20% below the average for the first five months of this year, the firm added. Wells says that Macau's gaming industry remains challenged, and it remains neutral on the sector. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN), and Melco Crown (MPEL).
June 16, 2015
08:08 EDTWYNNMacau Q2 estimates lowered below consensus at Morgan Stanley
Following a trip to Macau, Morgan Stanley said the market is still far from a turnaround and trends are still weakening. The firm does not expect Q2 to-date GGR results of (36%) to improve, below its prior estimate of (30%), and lowered forecasts. Morgan Stanley's Q2 Macau property-level EBITDA estimate for MGM Resorts (MGM) falls to $121M vs. consensus of $141M, Wynn Resorts (WYNN) lowered to $200M vs. consensus of $210M, and Las Vegas Sands (LVS) drops to $521M vs. consensus of $549M.

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