Posts for Ticker ‘MGM’

Melco Crown Outlines IPO Risks at Las Vegas Sands, MGM Too (MPEL, LVS, MGM, WYNN)

Melco Crown Entertainment Ltd. (NASDAQ: MPEL) is holding up better than many might have expected after the stellar rise seen in the casino stocks with Macau ties.  Melco Crown turned a wider loss over a year ago, despite a 70% revenue rise.  The loss was on a net basis rather than operating basis on higher depreciation and related expenses as well accounting for interest payments from the City of Dreams project.  This has implications for the coming Las Vegas Sands Corp. (NYSE: LVS) IPO, and possibly even for MGM Mirage (NYSE: MGM) after Wynn Resorts Ltd. (NASDAQ: WYNN) managed its IPO for Macau.
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Media Digest (10/21/2009) Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   China is having trouble managing supply and demand.

Reuters:   Geithner said the core programs of the TARP are ending.

Reuters:   Yahoo! (NASDAQ:YHOO) tripled it profits.

Reuters:   Sun Microsystems (NASDAQ:JAVA) will cut 3,000 jobs due to delays in the Oracle (NASDAQ:ORCL) buyout of the company. Read More »

Top Day Trader Alerts (AAPL, BPAX, CAT, FNM, FRE, MGM, NVAX)

These are this morning’s top day trader alerts.  We have more detailed price and volume data along with added color over with links through to each stock at VSInvestor.com:

Apple Inc. (NASDAQ: AAPL) is bumping against all-time highs after blowing out earnings.

BioSante Pharmaceuticals, Inc. (NASDAQ: BPAX) is one of this morning’s top gainers on safety reviews allowing the study to proceed.

Caterpillar Inc. (NYSE: CAT) is up at 52-week highs after blowing out earnings.

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are continuing yesterday’s losses, with Freddie being slapped harder than the Fannie step-sister.

MGM MIRAGE (NYSE: MGM) is up close to 10% on word that Kerkorian’s Tracinda is interested in exploring deals after the December City Center open.

Novavax, Inc. (NASDAQ: NVAX) is up 6% on a test of virus-like particle H1N1 influenza vaccine in Mexico with Avimex Laboratories and GE Healthcare.

You can join our open email distribution list to get updates on top analyst upgrades and downgrades, top day trader alerts, IPO’s, secondary offerings, Warren Buffett and other guru activity, M&A and more.

JON C. OGG

Today’s Best Market Rumors (10/7/2009) (NOK)(AAPL)(JPM)(GE)(WYNN)

newspaperUpdated throughout the day.

Updated 2:44 Dell Inc. (NYSE: DELL) will launch a branded Android smartphone thru AT&T Inc. (NYSE: T) and possibly other carriers next year.  Source today is from WSJ, but ask this… How many phone and consumer electronics announcements have been rumored on Dell?

Updated 1.36 PM EST:  Pimco left the bondholders steering committee at CIT (NYSE:CIT) last month  (CNBC)

Updated 12.45 PM:  Polycom (NSADAQ:PLCM) could be taken over by Hewlett-Packard (NYSE:HPQ) or Dell (NASDAQ:DELL). Interdigital (NASDAQ: IDCC) could be bought by Nokia (NYSE:NOK) and ValueClick (NASDAQ:VCLK) could be taken over by any one of a number of companies.  (Barron’s)

Updated 12.41 PM:   GM head of American sales leaves amid talk that car company CFO may be next  (CNNMoney)

Update 10.50 AM EST:  Congress may pass a bill which will require that public companies split the roles of chairman and CEO.  (MarketWatch)

Thomson Reuters (NYSE:TRI) may be involved in the bidding for McGraw-Hill’s (NYSE:MHP) BusinessWeek working jointly with Zelnick Media. Strauss Zelnick is on the boards of Blockbuster (NYSE:BBI) and Take-Two Interactive (NASDAQ:TTWO)  (PaidContent).

Citigroup (NYSE:C) may sell it Philbro unit which is paying its chief $100 million  this year.  (CNBC)

Bank of America (NYSE:BAC) has narrowed its list of CEOs to two people  (WSJ).

Foxconn has a deal to make 300,000 to 400,000 Apple (NASDAQ:AAPL) tablet PCs to ship in Q1  (DigiTimes)

Collins Stewart believes that Google (NASDAQ:GOOG) and Yahoo! (NASDAQ:YHOO) are on the lookout for acquisitions. (The Deal).

Share sales by Steve Wynn, head of Wynn (NASDAQ:WYNN), and his COO may be” a canary in the coal mine to other investors to take some profits on the gains in this sector since the March lows.” That would include MGM (NYSE:MGM) and Las Vegas Sands (NYSE:LVS)  (TheStreet.com)

Private equity firms Bain Capital and THL Partners are asking banks that supported their buy-out of Clear Channel Communications to help restructure the firm’s debt. Those banks include Citigroup (NYSE:C), Credit Suisse (NYSE:CS), Deutsche Bank (NYSE:DB), and Morgan Stanley (NYSE:MS).  (NYPost)

News Corp (NYSE:NWS) CEO Rupert Murdoch is in Japan and South Korea and may be discussing partnerships to build a rival product to the Amazon (NASDAQ:AMZN) Kindle.  (Reuters)

Vivendi will discuss selling its 20% stake in GE’s (NYSE:GE) NBCU at its October 19 board meeting to allow a transaction with Comcast (NADSAQ:CMCSA) which would involve the cable company getting control of media firm.  (BusinessWeek)

JPMorgan (NYSE:JPM) executive  Heidi Miller could be in the running for the CEO job at Bank of America. (The Big Money)

Douglas A. McIntyre

Media Digest 10/6/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   The pay czar plans to rework employee pay at large banks.

Reuters:   Hewlett-Packard (NYSE:HPQ) may enter the tech M&A frenzy.

Reuters:   Microsoft (NASDAQ:MSFT) says some Hotmail passwords were exposed.

Reuters:   The US called for rigorous IMF surveillance to spot new investment bubbles. Read More »

Media Digest 8/19/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   HP (HP) issued optimistic guidance.

Reuters:   China is investing in the private housing sector.

Reuters:   Buffett says the US is on a slow path to recovery.

Reuters:   US regulators urged Citigroup (C) to push out its former CFO. Read More »

Media Digest 8/4/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   A plan for universal healthcare in China could cut the savings rate.

Reuters:   Bank regulators are opposing the Obama shake-up of the system.

Reuters:   Bank of America (BAC) settled SEC charges over Merrill bonuses.

Reuters:   July retail sales lacked a back-to-school jump. Read More »

Media Digest 8/3/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   Video games hope to make a comeback with new titles and price cuts.

Reuters:   “Cash for clunkers” should help July car figures.

Reuters:   USB (UBS) shares should do well after it settled with the US.

Reuters:   China’s build-up in commodities inventory could hurt future prices. Read More »

Top 10 Analyst Upgrades and Downgrades (AFL, CPB, ECL, ISIS, MGM, NE, NSC, PERY, TER, WDC)

These are the ten top Wall Street analyst calls with upgrades, downgrades, and initiations we have this Wednesday morning:

Aflac (AFL) Cut to Hold from Buy at Citigroup.
Campbell Soup (CPB) Raised to Sector Perform at RBC.
Ecolab (ECL) Cut to Neutral at JPMorgan.
Isis Pharmaceuticals (ISIS) Started as Buy at Cantor Fitzgerald.
MGM Mirage (MGM) Cut to Neutral at BofA/Merrill.
Noble Corporation (NE) Raised to Overweight at Morgan Stanley.
Norfolk Southern (NSC) Cut to Neutral at BofA/Merrill.
Perry Ellis (PERY) Cut to Neutral at SunTrust.
Teradyne (TER) Started as Underweight at Morgan Stanley.
Western Digital (WDC) Cut to Neutral at Baird.

Jon C. Ogg
July 27, 2009

Giving Away Vegas To Get Traffic in Vegas (WYNN, LVS, MGM)

money-stack-imageIf you have ever stayed at the Wynn resort or the even newer Encore in Las Vegas, you will know that calling either a high-end resort and casino destination may represent an understatement of the year.  Wynn Resorts Ltd. (NASDAQ: WYNN) has not been immune to the woes of Las Vegas despite the stock more than doubling from recent lows.  Las Vegas Sands Corp. (NYSE: LVS) is also in this boat along with every other casino operator.  But if you are one of the 90.8% of the employed and are one of the privileged consumers who has escaped the recession without much damage, the summer deals in Vegas are almost too good to be true. There are similar deals being offered by the Las Vegas Sands Corp. (NYSE: LVS) and by MGM Mirage (NYSE: MGM).  If you are unencumbered by the economy, Vegas is almost free right now.
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Media Digest 6/10/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters: The Supreme Court delays  Chrysler deal.

Reuters:   The cleared ten banks to repay TARP include JPMorgan (JPM), Goldmand Sachs (GS), American Express (AXP), Cpaital One(COF), State Street (STT), BBT (BBT), Morgan Stanley (MS), and US Bancorp (USB).

Reuters:   Senate Democrats revealed healthcare bill.

Reuters:   New York Times (NYT) will not close the Boston Globe Read More »

Media Digest 5/20/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   The Treasury is keeping banks guessing about when they can repay TARP funds.

Reuters:   Bank of America (BAC) has raised more than $13 billion in share sales.

Reuters:   Hewlett-Packard’s (HPQ) financial outlook disappointed the market.

Reuters:   Terminated Chrysler dealers will challenge the sale of the company’s assets.

Reuters:   Obama is considering an agency to protect consumer’s financial interests.

Reuters:   Microsoft (MSFT) may unveil a new search engine.

Reuters:   Facebook’s CEO said an IPO is several years away. Read More »

Media Digest 5/19/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   Twitter will release business tools in an attempt to make money.

Reuters:   A GM (GM) bankruptcy is seen as nearly inevitable.

Reuters:   American Express (AXP) will cut 4,000 jobs.

Reuters:   Obama will unveil aggressive car fuel standards.

Reuters:   Madoff trustee sues Fairfield Group for $3.5 billion

Reuters:   Mail blue collar workers are losing ground in employment and compensation. Read More »

Top Analyst Upgrades (EAT, DAI, ENR, HS, LEN, LNC, MGM, RTP)

These are some of the top pre-market analyst upgrades we have seen from Wall Street early this Monday morning:

Brinker International (EAT) Raised to Overweight at Barclays.
Daimler (DAI) Raised to Buy at UBS.
Energizer Holdings (ENR) Raised to Neutral at UBS.
HealthSpring (HS) Raised to Outperform at Wachovia.
Lennar (LEN) Raised to Buy at Citigroup.
Lincoln National (LNC) Raised to Outperform at KBW.
MGM Mirage (MGM) Raised to Overweight at JPMorgan.
Rio Tinto (RTP) Raised to Hold from Sell at RBS.

JON C. OGG

Media Digest 5/14/2009 Reuters, WSJ, NYT, FT, Bloomberg

newspaperReuters   Obama hopes to have healthcare bill by July

Reuters   Documents on Paulson’s meetings with banks forcing them to take TARP have been released

Reuters   Banks sued MBIA (MBI) over its $5 billion restructuring.

Reuters   Lehman may spin off its remaining assets.

Reuters   Ford (F) is walking a tight rope during the industry downturn.

Reuters   The SEC is proposing action against former Countrywide CEO Mozilo. Read More »

Media Digest 5/5/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaper7According to Reuters, changes at Yahoo! (YHOO) are getting mixed reviews from employees.

Reuters reports that ten banks could could have to raise new money after stress tests.

Reuters reports that two top Fed officials think the recession will end this year.

Reuters writes that Chrysler’s bankruptcy has brought many of its dealers to the brink of closing.

Reuters reports that AIG (AIG) will post a loss for the last quarter but will not need more government money.

Reuters reports that UBS (UBS) had a first quarter loss and remains cautious.

Reuters writes that “So many U.S. banks are failing that three government bank watchdogs want the law changed to force a review only when a bank failure costs the federal insurance fund $300 million or more.”

Reuters reports that US retailers may have gained some strength in April.

Reuters reports that the FTC will look at ties between the Apple (AAPL) and Google (GOOG) boards.

Reuters reports that Bank of America (BAC) said it does not need to raise new funds.

Reuters reports that Chinese exporters are having to try to sell their goods within their country.

The Wall Street Journal reports that stress tests will force several banks to raise money including Citigroup (C), Wells Fargo (WFC), and Bank of America (BAC).

The Wall Street Journal reports that “A government program to unfreeze the credit markets got a boost as companies rushed to issue nearly $10 billion of bonds and as credit markets rode the same wave of optimism that sent stocks soaring.”

The Wall Street Journal writes that fewer banks are tightening lending standards compared to a few months ago.

The Wall Street Journal reports that Alcatel-Lucent (ALU) lost money.

The Wall Street Journal reports that Chrysler expects a profit in 2012.

The Wall Street Journal reports that the new Amazon (AMZN) Kindle will be aimed at the education market.

The Wall Street Journal reports that business is upset about plans to tax overseas profits.

The Wall Street Journal reports that more consumers are making coffee at home.

The Wall Street Journal reports that the rally has sent stocks into the black for 2009.

The Wall Street Journal reports that Sprint’s (S) loss widened as it lost more customers.

The Wall Street Journal reports that banks are facing hits on real estate loans.

The Wall Street Journal writes that CEO pay fell as bonuses dropped.

The Wall Street Journal reports that a lack of cost information has slowed the overhaul of healthcare.

The Wall Street Journal reports that a bounce in manufacturing in Asia needs help from US demand.

The Wall Street Journal reports that one bottler has rejected a buyout from Pepsi (PEP).

The Wall Street Journal reports that Roger Penske may be a buyer of the Saturn unit of GM (GM).

The Wall Street Journal reports that a Fiat plan to buy Opel may mean big job cuts.

The Wall Street Journal reports that MGM (MGM) earnings fell 10%.

The Wall Street Journal reports that the RIM (RIMM) Blackberry Curve outsold the Apple (AAPL) iPhone last quarter.

The Wall Street Journal reports that The New York Times (NYT) is near a deal to keep The Boston Globe open.

The Wall Street Journal reports that the pace at which advertising is falling quickened to 9.2%.

The New York Times reports that growth in India is slowing due to lack of investment.

The New York Times reports that Germany may help Fiat with a bid for Opel.

The New York Times reports that the EU is forecasting a deepening recession.

The FT writes that the wealth management arm of UBS may suffer 10,000 job cuts.

Bloomberg reports that Chrysler non-TARP lenders are opposing the sale of its assets.

Douglas A. McIntyre

Media Digest 4/17/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaper16According to Reuters, banks may be hard hit by the bankruptcy of General Growth (GGP) and future commercial real estate defaults.

Reuters reports that VW may overtake Toyota (TM) as the No.1 car company in the world in Q1.

Reuters writes that Google (GOOG) profits beat expectations.

Reuters reports that Fed official see signs of improvement in the economy.

Reuters reports that US businesses are worried that the China stimulus package favors local companies. Read More »

Media Digest 4/10/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaper9According to Reuters, banks have been asked to keep the results of the “stress tests” of their financial conditions confidential.

Reuters reports that the Fed says its current plan is to prevent inflation.

Reuters reports that a new survey of economists says the recession will end in the second half of the year but employment will not improve until well into that last part of 2010.

Reuters reports that Asia’s China-fueled equity rally may run out of steam. Read More »

Media Digest 4/6/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaper3According to Reuters, HSBC (HBC) has a successful rights offering to raise $18.9 billion.

Reuters reports that a deal for IBM (IBM) to by Sun (JAVA) is near collapse.

Reuters writes that Geithner denies that the Administration CEO pay limits. Read More »

Saving Las Vegas One Airplane Ticket At A Time (WYNN)(LCC)(MGM)

bank40One of the largest casino projects in history almost fell apart last week. CitiCenter, an $8.7 billion casino being built in Las Vegas, came close to losing a critical piece of funding from one of the two partners that owns it, MGM Grand (MGM). The publicly traded company came up with $200 million at the last minute, but CitiCenter will need more money to be completed, and MGM is close to being tapped out. Read More »