With Optimism About A Macau Recovery, Is Wynn Stock A Buy? Nasdaq
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Wynn Resorts was our top performer, followed by one of our newest holdings and two technology giants.
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On CNBC’s “ Halftime Report Final Trades ,” Jim Lebenthal of Cerity Partners chose General Motors Company (NYSE: GM ), saying that discretionary stocks had “held up pretty well” for the last three months. “There is a reason for that strength. It’s undervalued, with good demand,” he added. Bryn Talkington of Requisite Capital Management said Wynn Resorts, Limited (NASDAQ: WYNN ) could … Full story available on Benzinga.com
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Shares of casino operators Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) spiked about 12% following the news that Macau, a Special Administrative Region of China, is easing COVID-led restrictions and will soon allow visitation. Easing Restrictions Is a Positive This is a sigh of relief for Wynn Resorts and Las Vegas Sands. Notably, Macau is a gambling hub and a significant source of revenue for these companies. The strict COVID restrictions led to a plunge in tourism, thereby impacting the revenue and profitability of these companies. For instance, Las Vegas Sands’ revenue from Macau operations fell 43% in the first six months of 2022.
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U.S. stocks closed lower with the Dow Jones dropping more than 300 points on Monday. Here is the list of some big stocks recording gains in the previous session. Melco Resorts & Entertainment Limited (NASDAQ: MLCO ) rose 25.5% to close at $6.65 after Macau officials signaled that COVID-19 travel restrictions will be lifted. Citigroup analyst George Choi also maintained Melco with a Buy rating and raised the price target from $11 to $11.50. Inpixon (NASDAQ: INPX ) jumped 21.5% to close at $0.1407 after the company announced it signed a definitive merger agreement with KINS Technology for KINS to acquire Inpixon''s enterprise apps business. Wynn Resorts, Limited (NASDAQ: WYNN ) gained 12% to close at $66.80 after Macau … Full story available on Benzinga.com
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At the close in the New York Stock Exchange, the Dow Jones fell 1.11% to hit a 52-week low, the S&P 500 fell 1.03%, and the NASDAQ Composite fell 0.60%. Walmart Inc was the top gainer among the components of the Dow Jones index today, up 1.25 points (0.96%) to close at 131.31. Apple Inc rose 0.34 points (0.23%) to close at 150.77. Procter & Gamble Company rose 0.13 points or 0.10% to close at 135.71. The biggest losers were The Travelers Companies Inc, which shed 4.88 points or 3.14% to end the session at 150.60. Boeing Co was up 2.99% or 3.92 points to close at 127.34, while Chevron Corp was down 2.63% or 3.81 points to close at 140.96. . Leading gainers among the components of the S&P 500 in today''s trading were Wynn Resorts Limited, which rose 11.99% to 66.80, Las Vegas Sands Corp, which gained 11.81% to close at 39.66. as well as Costco Wholesale Corp, which rose 2.98% to end the session at 480.30. The losers were DISH Network Corporation, which shed 6.12% to close at 14.27. Shares of The AES Corporation shed 5.48% to end the session at 22.96.
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Stocks that traded heavily or had substantial price changes Monday: Tronox, Best Buy fall; Wynn Resorts, PG&E rise
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NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday: Wynn Resorts Ltd., up $7.15 to $66.80. The casino operator gained ground on reports that the gambling haven of Macao will ease some travel restrictions starting in November. Atlas Corp., up 43 cents to $13.95. A consortium of companies raised its buyout offer for the asset management company. PG&E Corp., up 14 cents to $12.75. The utility company will be added to the S&P 500 index Oct. 3. Generac Holdings Inc., up $5.01 to $181.58. The generator maker announced the release of a new portable power station. Amazon.com Inc., up $1.37 to $115.15. The internet retailer announced a two-day sale on certain items for Prime members in October. United Airlines Holdings Inc., down $1.17 to $31.90. The White House is announcing an initiative that will eventually allow consumers to see a more complete price on airline tickets. Best Buy Co., down $3.46 to $65.32. Retailers and other companies that rely on direct consumer spending slipped as recession fears grow.
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Wynn Resorts Ltd (NASDAQ: WYNN ) shares were on the move Monday after Macau officials signaled COVID-19 travel restrictions could be lifted. Despite Monday''s surge, one investor saw significantly more upside in the beaten-down casino operator. What To Know: For the first time in nearly three years, mainland travelers and permit group tours were set to resume in China''s special administrative region. Currently, Chinese tourists to Macau were required to book a visa appointment, which was followed by an approval process that could last up to a week. Cerity Partners'' Jim Lebenthal owns Wynn shares and … Full story available on Benzinga.com
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Gainers: Studio City International Holdings (MSC) +40%. Melco Resorts & Entertainment (MLCO) +29%. Splash Beverage Group (SBEV) +13%. Las Vegas Sands (LVS) +12%. Wynn Resorts (WYNN) +12%
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Gainers LAVA Therapeutics N.V. (NASDAQ: LVTX ) shares jumped 97% to $4.71 after the company and Seagen Inc (NASDAQ: SGEN ) announced an exclusive license agreement in which Seagen will work to develop, manufacture and commercialize LAVA-1223. Melco Resorts & Entertainment Limited (NASDAQ: MLCO ) gained 33% to $7.05 after Macau officials signaled that COVID-19 travel restrictions will be lifted. Citigroup analyst George Choi also maintained Melco with a Buy rating and raised the price target from $11 to $11.50. DIRTT Environmental Solutions Ltd. (NASDAQ: DRTT ) surged 31.6% to $0.42. Inpixon (NASDAQ: INPX ) jumped 28.4% to $0.1488 after the company announced it signed a definitive merger agreement with KINS Technology for KINS to acquire Inpixon''s enterprise apps business. Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE ) rose 28.3% to $0.9847 after the company announced FF Top will dismiss its lawsuit against the company and its board of directors. The company also announced a new $100 million financing commitment.
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These are the stocks posting the largest moves in midday trading.
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These are the stocks posting the largest moves in midday trading.
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Stocks to watch: WYNN, PLTR, AIG, CHGG. See how each stock has trended in early market trading.
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New York real estate heavyweight Related Companies is partnering with Wynn to pursue a casino license, with plans for a project in Manhattan.
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New York real estate heavyweight Related Companies is partnering with Wynn to pursue a casino license, with plans for a project in Manhattan.
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Wynn Resorts'' shares have recently outperformed the broader market. But see why I reduce my rating on WYNN stock from buy to hold.
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At the close of the New York Stock Exchange, the Dow Jones fell 1.01% to a one-month low, the S&P 500 index fell 1.13%, and the NASDAQ Composite fell 0.95%. The leading performer among the components of the Dow Jones index today was Apple Inc, which gained 2.42 points (1.57%) to close at 156.90. Quotes Boeing Co rose by 1.06 points (0.73%), ending trading at 145.94. 3M Company lost 0.12 points or 0.10% to close at 116.52. The biggest losers were Nike Inc, which shed 4.79 points or 4.47% to end the session at 102.42. Caterpillar Inc was up 2.26% or 4.12 points to close at 177.99, while Home Depot Inc was down 2.23% or 6.25 points to close at 274. 17. Leading gainers among the components of the S&P 500 in today''s trading were Wynn Resorts Limited, which rose 2.90% to hit 67.80, Valero Energy Corporation, which gained 2.63% to close at 107.42, and also shares of Expedia Inc, which rose 2.09% to end the session at 104.63. The fallers were shares of Ford Motor Company, which fell 12.32% to close at 13.09.
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The company wants a judge to throw out a sexual harassment complaint filed earlier this month by a massage therapist at the Strip resort. An Oct. 25 hearing is set.
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Wynn Resorts Limited (WYNN)’s stock has witnessed a price hike of 5.86% from the previous close with its current price standing at $69.75. Its current price is -29.55% under its 52-week high of $99.00 and 38.94% more than its 52-week low of $50.20. Based on the past 30-day period, the stock price is -0.01% below […]
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Casino companies with exposure to Macau including Wynn Resorts Ltd (NASDAQ: WYNN ) and Las Vegas Sands Corp (NYSE: LVS ) are trading higher Tuesday amid reports Hong Kong could cut back on quarantine measures that have slowed travel in recent years. Hong Kong chief executive John Lee said Tuesday that the city aims to relax COVID-19 rules including mandatory hotel quarantine, per Bloomberg . Lee told reporters in a weekly briefing that infections in Hong Kong have fallen to about 6,000 per day. "We know exactly where … Full story available on Benzinga.com
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NEW YORK , Sept. 20, 2022 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for WYNN, AAPL, DIS, KO, and HSY. … Full story available on Benzinga.com
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Futures Slide As Hawkish Rikshock Sends Dollar, Yields Higher Again Ahead Of Fed Market sentiment was quite cheerful heading into the overnight session, with futures hitting a third-day high of 3,936 thanks to yesterday'' late day delta squeeze (plunge in VIX as both calls and especially puts were sold) but then it quickly soured after first German PPI came in at a mindblowing 45.8% (vs expectations of 37.1%) the highest on record since World War II… ...but what really spooked futures was the record hike by the Swedish central bank, the Riksbank, which pushed the repo rate higher by a more than expected 100bps to 1.75%, and even though the central bank eased back on terminal rate expectations, the market still saw the Riksbank surprise as potentially indicative of what the BOE and Fed may do in the coming hours. As such, European stocks fell with US equity futures, giving up early gains, as traders braced for another supersized US rate hike amid rising anxiety the Federal Reserve could overtighten and raise the odds of a hard landing.
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At the close of the New York Stock Exchange, the Dow Jones fell 0.56% to a one-month low, the S&P 500 fell 1.13% and the NASDAQ Composite fell 1.43%. UnitedHealth Group Incorporated was the top performer in the Dow Jones Index today, up 13.14 points or 2.58% to close at 522.91. JPMorgan Chase & Co rose 1.75 points or 1.51% to close at 117.87. Goldman Sachs Group Inc rose 4.36 points or 1.33% to close at 331.62. The losers were Salesforce Inc, which shed 5.50 points or 3.43% to end the session at 154.78. Microsoft Corporation was up 2.71% or 6.84 points to close at 245.38, while Visa Inc Class A was down 2.03% or 4.04 points to close at 195. .37. Leading gainers among the S&P 500 index components in today''s trading were Humana Inc, which rose 8.37% to 497.24, Wynn Resorts Limited, which gained 7.48% to close at 65.23, and shares of Paramount Global Class B, which rose 5.16% to close the session at 23.05. The losers were Adobe Systems Incorporated, which shed 16.79% to close at 309.13. Shares of Albemarle Corp shed 6.49% to end the session at 286.75.
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Hudson Yards developer Related Companies is putting its money on a hot horse from Vegas in the turbulent race to open a casino resort.
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The company co-founded by the Tampa Bay Buccaneers quarterback will offer body coaching starting next week at Wynn''s Encore Fitness Center.
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The company co-founded by the Tampa Bay Buccaneers quarterback will offer body coaching starting next week at Wynn’s Encore Fitness Center.
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Wynn Resorts, Limited (NASDAQ: WYNN ) is among the gaming stocks with the most compelling risk-reward, according to Credit Suisse. The Wynn Resorts Analyst: Benjamin Chaiken upgraded the rating for Wynn Resorts from Neutral to Outperform, while revising the price target to $117. The Wynn Resorts Thesis: There is upside to trends in Vegas, “driven in … Full story available on Benzinga.com
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Here are Thursday''s biggest calls on Wall Street.
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A Wynn Resorts massage therapist alleges the company is a racketeering enterprise in which she was forced to act as an “on-call sexual servant.”
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While few enjoy the pain of red ink in the markets when volatility strikes, forward-thinking investors can use the current circumstances to load up on intriguing stocks to buy. To be sure, fear has once again crept into the equities sector. Primarily, Federal Reserve chair Jerome Powell sounded the alarm on inflation. During his policy speech at the annual economic symposium at Jackson Hole, Wyoming, Powell reiterated his hawkish intentions . Adding to the woes for bullish investors is that other international central banks stand poised to deliver similar directives. For instance, record inflation in the Eurozone recently pushed the 10-year German bund yield to a two-month high. Therefore, this dynamic increases the odds the European Central Bank will tighten its monetary policy aggressively. Ordinally, that wouldn’t bode well for stocks to buy. However, certain companies may perform better than others during this drought. Whether that’s because they’re particularly relevant or are structured for resilience during downcycles, investors should consider the below sell-off stocks to buy.
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Wynn reports strong earnings in the U.S. but is dragged down by Macau results CNBC
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Red Rock Resorts has a plan to take on Caesars, MGM, Wynn, and other Strip mega-resort/casino operators in their own backyard.
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https://www.investing.com/news/pro/wynn-resorts-pt-raised-to-71-at-ubs-432SI-2874039
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Encore Boston Harbor reported a 66 percent share of gaming revenue collected in Massachusetts in July, beating MGM Springfield and Plainridge Park Casino.
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Encore Boston Harbor reported a 66 percent share of gaming revenue collected in Massachusetts in July, beating MGM Springfield and Plainridge Park Casino.
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Check out Jefferies Group Stock Picks » Download GuruFolio Report of Jefferies Group (Updated on 08/14/2022) Related Stocks: QQQ , WYNN , SPY , EMB , CNMD ,
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Casino revenue from Wynn’s other locations grew, but revenue from Macau operations fell in Q2. See why WYNN is for patient investors with a high risk appetite.
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Las Vegas couldn''t be going much better for Wynn Resorts (NASDAQ: WYNN). The company generated a whopping $226.7 million of adjusted EBITDA (a proxy for cash flow from a casino/resort) in the second quarter of 2022, nearly double what it generated a year ago.
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https://www.investing.com/news/pro/wynn-resorts-pt-lowered-to-77-at-wells-fargo-432SI-2870180
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The casino operator made some changes to its portfolio and it battles Caesars, Wynn for Strip dominance.
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Wynn Resorts, Limited (NASDAQ: WYNN ) reported its second-quarter 2022 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same. Moreover, the top line also declined year over year. Craig Billings, CEO of Wynn Resorts, Limited, stated, "Our second quarter financial results reflect continued strength at both Wynn Las Vegas and Encore Boston Harbor. Our teams'' ongoing focus on five-star hospitality and new experiences at our market-leading properties combined with very strong customer demand drove a new all-time quarterly record for Adjusted Property EBITDA at Wynn Las Vegas and a second quarter record at Encore Boston Harbor." Q2 Earnings & Revenues The company reported an adjusted loss of 82 cents per share, narrower than the Zacks Consensus Estimate of a loss of 94 cents. In the prior-year quarter, the company reported an adjusted loss of $1.12 per share. Revenues during the second quarter came in at $908.8 million, missing the Zacks Consensus Estimate of $1,009 million by 9.9%.
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Wynn Resorts, Limited (NASDAQ: WYNN) declined 4.6% in Tuesday’s extended trading session after the sales miss of 7.4% in the second quarter of 2022 upset its stakeholders. The disappointment over sales miss seems to have overshadowed the impact of narrower-than-expected losses reported by the company. What Is Wynn Resorts Known For? Based in Las Vegas, Wynn Resorts owns and operates Wynn Palace, Wynn Las Vegas, Cotai, Encore Boston Harbor, and Wynn Macau casinos resorts and hotels. The company has a market capitalization of $7.6 billion.
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LAS VEGAS (dpa-AFX) - Wynn Resorts Ltd. (WYNN) revealed Loss for second quarter that decreased from last yearThe company''s bottom line came in at -$130.05 million, or -$1.14 per share. This compar…
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https://www.investing.com/news/stock-market-news/wynn-resorts-earnings-beat-revenue-misses-in-q2-2868282
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(PLX AI) – Wynn Q2 revenue USD 908.8 million vs. estimate USD 981 million.Q2 net income USD -130.1 millionQ2 adjusted EBITDA USD 179.2 million vs. estimate USD 186 millionSays Covid restrictions continue to impact Macau results
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The global casino and hotel leader, Wynn Resorts Limited (NASDAQ: WYNN ) is set to report its second quarter earnings after the bell on Tuesday. Earnings Outlook: Today’s reporting comes after the company’s three main competitors reported their quarterly earnings. Those companies are Las Vegas Sands Corp. (NYSE: LVS ), MGM Resorts International (NYSE: MGM ) and Caesars Entertainment Inc. (NASDAQ: CZR ). It is noteworthy that all three companies followed the same trend when reporting earnings, by missing the consensus analysts'' estimates for earnings per … Full story available on Benzinga.com
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In the iconic Martin Scorsese film Casino, sports handicapper and Mafia associate Sam "Ace" Rothstein – played by Academy Award winner Robert De Niro – bemoaned that Las Vegas would "never be the same." He links its modern imagery to that of a famous theme park. Rather than facilitating a pure avenue for games of chance, Sin City went corporate, becoming a vacation spot for pensioners and families with small children. Prior to the COVID-19 pandemic, gambling mecca Wynn Resorts (WYNN) was riding high on its Macau-based properties, where patrons take their wagers very seriously.
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The off-the-Las Vegas Strip casino operator has been making a lot of moves to position it as an alternative to Caesars, MGM, Wynn, and other Strip operators.
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In my previous article on Wynn Resorts, I was bearish on WYNN stock and gave a sell rating. See why I am re-rating WYNN stock from a sell to a buy.
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