Wynn Resorts Ltd.
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By Liz Moyer Investing.com --U.S. stocks were struggling for direction after new Covid-19 lockdowns in China brought back fears of a global growth slowdown. At 9:48 ET (14:48 GMT), the Dow Jones Industrial Average rose 24 points or 0.1%, while the S&P 500 fell 0.2% and NASDAQ Composite was down 0.3%. China is locking down a major transportation hub in a district of Guangzhou, which is battling to control an outbreak of cases. Shares of Chinese e-commerce giant Alibaba Group Holdings Ltd ADR (NYSE:BABA) fell 3%. Travel stocks reacted negatively, with shares of Wynn Resorts Limited (NASDAQ:WYNN) falling 2.5% and shares of major airlines such as United Airlines Holdings Inc (NASDAQ:UAL) were flat. The airline sector in the U.S. will face a big test this week with people traveling for the Thanksgiving holiday. A shortage of pilots and airport staff, bad weather, and a surge of passengers this summer led to cancellations and problems with baggage handling. Walt Disney Company (NYSE: DIS) shares jumped 9% after the company announced Bob Iger would return as CEO, taking over from Bob Chapek effective immediately. Later this week, the Federal Reserve will release the minutes of its most recent meeting, and analysts and investors will read closely for any clues as to the central bank’s thinking heading into its last meeting of the year. Many analysts are forecasting the Fed will raise rates again in December, but at a slightly smaller half-percentage point increment than at its four most recent meetings. Oil fell. Crude Oil WTI Futures was down 4.4% to $76.56 a barrel, while Brent Oil Futures was down 4.6%, to $83.55 a barrel. Gold Futures fell 0.7% to $1,743.
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$WYNN breaking out
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THE WASHINGTON POST - Di Isaac Stanley-Becker Il disegno di legge bipartisan mira a frenare l'influenza straniera nella democrazia statunitense. Un disegno di legge della Camera che dovrebbe essere presentato giovedì cerca di frenare l'influenza straniera nella democrazia degli Stati Uniti imponendo il divieto a vita ai membri del Congresso, agli alti dirigenti militari e agli alti funzionari del ramo esecutivo di fare pressioni per un governo o un partito politico straniero, tra le altre misure. La legislazione obbligherebbe anche i gruppi esenti da tasse, compresi i think tank, a rivelare donazioni e doni in dollari elevati da potenze straniere e richiederebbe campagne politiche per verificare che i donatori abbiano un indirizzo statunitense valido, utilizzando il codice CVV a tre cifre sul retro di carte di credito. Le misure proposte, che non sono state segnalate in precedenza, rispondono alla crescente preoccupazione a Capitol Hill che componenti chiave del governo e della società civile rimangano suscettibili alle interferenze straniere, sei anni dopo che il Cremlino ha organizzato una campagna per influenzare le elezioni presidenziali del 2016. La legislazione affronta le questioni portate alla luce più recentemente dall'indagine federale sul fatto che il generale dei marine a quattro stelle in pensione John R. Allen, che si è dimesso nel fine settimana da presidente della Brookings Institution, abbia fatto pressioni per conto del Qatar senza rivelare le sue attività come richiesto ai sensi legge federale. E le proposte arrivano in mezzo a una maggiore applicazione da parte del Dipartimento di Giustizia del Foreign Agents Registration Act, inclusa la decisione del mese scorso di citare in giudizio Steve Wynn , uno sviluppatore e megadonatore repubblicano, per costringerlo a registrarsi come agente della Cina. La portavoce di DeSantis si registra tardivamente come agente di un politico straniero Il disegno di legge ha un sostegno bipartisan. Il suo sponsor principale è il rappresentante Jared Golden, un veterano democratico e marine di un distretto di tendenza conservatrice nel Maine, il quale ha affermato che uno dei principali problemi con il sistema politico statunitense è che "la corruzione è completamente legale o punita con schiaffi sul polso .” Un collaboratore di Golden ha affermato che lo sforzo del membro del Congresso per trovare consenso per un pacchetto mirato di misure anticorruzione è in risposta al rifiuto del GOP di un disegno di legge più ampio sui diritti di voto, sulle elezioni e sull'etica, noto come HR 1 . Insieme a Golden nell'introduzione della legislazione c'erano membri disparati come il rappresentante Katie Porter della California, un avvocato liberale per la protezione dei consumatori e stella emergente democratica, e Paul A. Gosar dell'Arizona, un accolito repubblicano dell'ex presidente Donald Trump che ha diffuso teorie del complotto su tutto, dalla sicurezza elettorale alla recente sparatoria in una scuola a Uvalde, in Texas. Anche il rappresentante Lance Gooden (R-Tex.) è uno sponsor. In una dichiarazione che approva la legislazione di giovedì, Gosar ha sottolineato una misura che cerca una maggiore trasparenza nelle donazioni delle campagne online. "La piena divulgazione dei contributi online assicurerà che il popolo americano conosca le fonti dei soldi della campagna e aiuterà notevolmente a mantenere un sistema di elezioni libere ed eque", ha affermato. La legge federale vieta già i contributi di cittadini stranieri in qualsiasi elezione federale, statale o locale. Ma gli sponsor del disegno di legge affermano che ci sono scappatoie, inclusa l'assenza del requisito che le campagne utilizzino strumenti standard del settore per verificare i dettagli dei contributi online. Porter ha sottolineato la rilevanza bipartisan della normativa. "Gli americani diffidano del governo, indipendentemente da quale partito sia al potere", ha detto. Il negozio di lobby afferma che l'indagine del DOJ sul suo lavoro per Burisma è stata chiusa Le misure, pur non citando Allen o altre persone, sono rese estremamente necessarie dalle recenti accuse, affermano gli sponsor del disegno di legge. Allen, che ha servito come comandante in capo degli Stati Uniti in Afghanistan dal 2011 al 2013, ha affermato che il suo contatto iniziale con un donatore politico che ora sta scontando una pena detentiva di 12 anni era correlato alla creazione di un consiglio militare per il governo del Qatar, secondo un mandato di perquisizione depositato presso il tribunale distrettuale degli Stati Uniti per il distretto centrale della California. Gli atti del tribunale mostrano che l'indagine è incentrata sul fatto che Allen abbia segretamente esortato l'amministrazione Trump a moderare le sue critiche al Qatar nel 2017, quando il paese ha dovuto affrontare sanzioni in relazione alle accuse di sostegno all'estremismo islamista. Un portavoce di Allen ha affermato che il generale in pensione "non ha fatto nulla di improprio o illegale, non ha mai agito come agente del Qatar o di alcun governo o preside straniero e non ha mai ostacolato la giustizia". Gli sponsor del disegno di legge indicano anche uno studio del 2020 del Center for International Policy con sede a Washington che ha rilevato che i principali think tank della nazione hanno ricevuto almeno 174 milioni di dollari di finanziamenti da potenze straniere tra il 2014 e il 2018. Tra quelli che hanno ricevuto la maggior parte dei finanziamenti esteri, secondo all'analisi, era Brookings. Un portavoce di Brookings ha affermato che il think tank "ha forti politiche di indipendenza per garantire che nessun sostenitore finanziario influenzi i risultati della ricerca o le raccomandazioni politiche dei suoi esperti". A seguito di una revisione nel 2019, Brookings ha iniziato a sottoporre i donatori stranieri a un controllo più approfondito, inclusa una valutazione dello "stato democratico e del track record del finanziatore nel sostegno alla società civile indipendente", ha affermato il portavoce. La maggior parte dei think tank organizzati come organizzazioni senza scopo di lucro non hanno alcun obbligo di rivelare i propri donatori, sebbene alcuni, come Brookings, lo facciano volontariamente. La legislazione di Golden e altri richiederebbe la divulgazione di doni e donazioni da potenze straniere superiori a $ 50.000 in un dato anno.
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**@Benzinga:** Stock Wars: MGM Resorts International Vs. Wynn Resorts $MGM $WYNN https://t.co/zSXQvGAme2 https://twitter.com/Benzinga/status/1501698093384814593
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`Investors` **@Stephanie_Link:** Baby steps for Macau recovery: Macau Gaming Inspection and Coordination Bureau reported November gross revs +0.01% yr/yr to HKD 6.749 bln versus -40% in October of 2021 $LVS $WYNN $MLCO $MGM https://twitter.com/Stephanie_Link/status/1466428421827973136
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Upside momentum continues with S&P futures edging higher, looking to make it a 9th straight day of gains overall, and the Nasdaq Composite looking at an 11th straight day of advances, with no signs of caution by investors heading into key inflation data today and tomorrow. The producer price index (PPI) for October is expected at 8:30 AM, and the consumer price index (CPI) tomorrow, but still no concerns exhibited in the bond market with the 10-year yield at its lowest level in 2-weeks around 1.45%, while gold prices are steady at $1,829 an ounce. The S&P 500 closed at an all-time high for the eighth consecutive session last night, extending the longest winning streak since 1997, as investors added the impact of $1 trillion in fresh government stimulus. That coupled with removed travel lockdowns, a strong earnings season, and positive vaccine news has boosted stocks over the last month. In Asian markets, The Nikkei Index fell -0.75% to 29.285, the Shanghai Index gained 0.24% to settle at 3,507 and the Hang Seng Index rose 0.2% to 24,813. In Europe, the German DAX is up 45 points to 16,090, while the FTSE 100 rise 0.2% to 7,313. Stocks keep pushing higher, making new all time highs each day the past week for the Dow, Nasdaq, S&P 500 and Russell 2000. Events Calendar for Today 6:00 AM ET NFIB Small Business Optimism Index for Oct 7:45 AM ET ICSC Weekly Retail Sales 8:30 AM ET Producer Price Index MoM for October…est. 0.6% 8:30 AM ET Producer Price Index YoY for Oct…est. 8.7% 8:30 AM ET PPI Ex: Food & Energy MoM for October…est. 0.5% 8:30 AM ET PPI Ex Food & Energy YoY for October…est. 6.8% 8:55 AM ET Johnson/Redbook Weekly Sales 4:30 PM ET API Weekly Inventory Data Earnings Calendar: Earnings Before the Open: AFI, AGEN, APRN, BSY, CAH, CCO, CEVA, CNCE, CORR, CSII, CTG, DRNA, EBIX, ECOM, FSS, HAE, HAIN, HCI, HGV, HRMY, IGT, IIVI, ITCI, KPLT, MIDD, MRNS, MRSN, MSGE, OCGN, OSG, OWL, PLTR, PRPL, PRTY, SEAS, SSTI, STWD, SYY, TGI, VCEL, WHF, WKHS, WNC, WRK, XPEL Earnings After the Close: ACHV, AIRG, ALTO, ARLO, ASH, AVID, AXON, CALA, CCXI, CLPT, CNNE, COIN, CPRX, CPSI, CRIS, DAR, DASH,DNUT, DOCS, DSP, DV, EGAN, ELY, EPAY, EPM, EVBG, FC, FGEN, FLGT, FUBO, G, GO, HCKT, HYLN, ID, INO, KODK, LAW, LGND, LPRO, MCFE, MNKD, MODN, NVTS, OCX, ORGO, PAR, PAY, PAYS, PLUG, POSH, PUBM, PXLW, REI, RNG, RPAY, SAIL, SCSC, SEER, SGMS, SILK, SKIN, TMDX, TWNK, TWOU, U, UPST, VERI, VRM, VZIO, WES, WYNN Other Key Events: Baird 51st Annual Global Industrial Conference, 11/9-11/12 (virtual) Bank America 2021 Banking & Financials Conference, 11/9-11/10 (virtual) Cowen 7th Annual Software Bus Tour, 11/9/110 (virtual) Credit Suisse 30th Annual Healthcare Conference, 11/8-11/11 (virtual) JPMorgan Global Consumer, Retail & Luxury Conference, 11/8-11/11 (virtual) EEI Financial Conference, 11/7-11/9 (virtual) REITWorld 2021 Annual Conference, 11/9-11/12 (virtual) China PPI, CPI and M2 Money Supply for October Sector News Breakdown Consumer AMC Entertainment ($AMC) Q3 EPS ($0.44) vs est. ($0.53) on revenue $763.2M vs est. $708.3M; currently has liquidity availability over $1.8B, does not anticipate the need to borrow under revolver lines over the next 12 months CarLotz ($LOTZ) 3Q EPS ($0.03) vs est. ($0.21) on revs $68Mm vs est. $55.2Mm, will continue to open new hubs in 2022, though fewer than in 2021; says expects sequential qtrly improvement in retail units sold and retail GPU in 4Q Clarus Corp ($CLAR) 3Q adj EPS $0.50 vs est. $0.48 on sales $109Mm vs est. $106.1Mm; guides FY sales $362.5Mm vs est. $359.7Mm Freshpet ($FRPT) shares fell -14%; Q3 EPS (5c) vs est. 7c profit on revenue $107.6M vs est. $115.5M; now sees FY sales approx. $445M from prior guidance of sales exceeding $445M, adj EBITDA approx. $50M from prior view above $61M Hertz ($HTZZ)5M share Secondary priced at $29.00 R. Horton ($DHI) Q4 EPS $3.70 vs. est. $3.40; Q4 revs $8.1B vs. est. $7.94B; consolidated pre-tax profit margin improved 480 basis points to 21.3% and consolidated pre-tax income increased 63% to $1.7B; Q4 net sales orders down 33% to 15,949 homes; sees FY22 revenue $32.5B-$33.5B above consensus $32.22B International Flavors & Fragrances Inc. ($IFF) Q3 EPS $1.47 vs. est. $1.16; Q3 revs $3.07B vs. est. $2.61B; sees FY21 revs $11.55B vs. est. $10B; sees FY21 adjusted operating EBITDA margin 21% Inter Parfums ($IPAR) Q3 EPS $1.20 vs. est. $0.68; Q3 revs $263M vs. est. $262.69M; said our largest brands, notably Montblanc, Jimmy Choo, Coach, GUESS and Lanvin performed exceptionally well in the Q3 turning in gains of 26%, 40%, 98%, 27%, and 37%, respectively, as compared to 2019’s third quarter Jack Henry Associates ($JKHY) 1Q EPS $1.38 vs est. $1.32 on revs $488.1Mm vs est. $489.4Mm; guides FY adj revs $1.87-1.875B vs est. $1.91B, sees FY EPS $4.64-4.73 vs est. $4.59 Masonite ($DOOR) 3Q adj EPS $1.99 vs est. $1.87 on revs $652Mm vs est. $675Mm; guides FY adj EPS $7.95-8.25 vs est. $8.13, sees FY sales +15-17% vs est. +18.6% RealReal ($REAL) Q3 adj EPS ($0.47) vs est. ($0.50) on revenue $119M vs est. $113.3M, adj EBITDA ($31.5M) vs est. ($36M), gross profit per order $94 vs $90 YoY, GMV $368M was +50% vs 2020 and +46% vs 2019, orders 757k (+38% YoY) ThredUp ($TDUP) 3Q EPS ($0.15) vs est. ($0.16) on revs $63.3Mm vs est. $61.8Mm, qtrly active buyers 1.4Mm and orders 1.3Mm (+14% and 28%, respectively); guides 4Q revs $69-71Mm vs est. $62.8Mm Trex Company ($TREX) Q3 EPS $0.64 vs. est. $0.58; Q3 revs $336M vs. est. $325.6M; guides Q4 revs $295M-$305M vs. est. $276.3M; Net income grew 73% to $74M; diluted earnings per share of $0.64, up 73%; EBITDA grew 76% to $108M; EBITDA margin of 32.2% Energy, Industrials and Materials General Electric ($GE) to split into three public companies – GE Aviation, GE Healthcare, and the combined GE Renewable Energy, GE Power, and GE Digital businesses to become three industry-leading, global, investment-grade public companies Advanced Energy Industries, Inc. ($AEIS) Q3 adj EPS $0.89 vs. est. $0.82; Q3 revs $346.1M vs. est. $341.52M; sees Q4 adj EPS 92c plus/minus 25c vs. est. $1.12; sees Q4 revs $355M plus/minus $20M vs. est. $373.09M. Amyris, Inc. ($AMRS) shares fell -25%; 3Q adj EPS ($0.27) vs est. ($0.15) on revs $48Mm vs est. $64.2Mm; sees FY revs $330-370Mm vs est. $391.6Mm; says supply chain challenges impacting near-term performance and growth trajectory Cabot ($CBT) Q4 adj EPS $1.01 vs. est. $1.03; Q4 revs $904M vs. est. $915.01M; Q4 Reinforcement Materials led the way delivering an increase in EBIT of $167 million while Performance Chemicals also recorded strong results; sees FY22 EPS $5.20-$5.60 vs. est. $5.52 Virgin Galactic ($SPCE) Q3 EPS loss (-$0.32) vs. est. loss (-$0.28); Q3 revs $2.6M vs. est. $1.6M; commercial service on track for q4 2022; strong ticket sales at updated pricing of $450,000 per seat; cash position remains strong at approximately $1.0 billion Financials CoreCivic, Inc. ($CXW) Q3 adj FFO/share $0.48, adj EPS $0.28 vs est. $0.18, revenue $471.2M vs est. $467.1M, adj EBITDA $100.9M vs est. $85.3M; is not providing full-year guidance due to uncertainties surrounding the resurgence of Covid-19 caused by the Delta variant and the administration’s executive actions and policies related to immigration and criminal justice, but will provide FY22 guidance in February when reporting 4Q21 results Cohen & Steers, Inc. ($CNS) preliminary assets under management of $101.6 billion as of October 31, 2021, an increase of $4.3 billion from assets under management at September 30, 2021. The increase was due to net inflows of $138 million and market appreciation of $4.4 billion, partially offset by distributions of $203 million. First Advantage ($FA) files to sell 15M shares of common stock for holders Lemonade Inc. ($LMND) will acquire Metromile in an all-stock transaction that implies a fully diluted equity value of approximately $500 million, or just over $200 million net of cash PayPal ($PYPL) Q3 non-GAAP EPS $1.11 vs. est. $1.07; Q3 revs $6.18B vs. est. $6.23B; Q3 total payment volume of $310B, growing 26%, and 24% on an FX-neutral basis; 4.9 billion payment transactions in qtr, up 22%; expects to add about 55Mm NNAs, including about 3 million active accounts from the acquisition of Paidy; 13.3M NNAs added in qtr , bringing total active accounts to 416 million, up 15%; expects FY TPV growth to be in the range of about 33%-34% at current spot rates and about 31%-32% on an FX basis Robinhood ($HOOD) said a third party had obtained access to email addresses of about 5 mln of its customers, while full names for a different group of nearly 2 mln people in an incident, which took place on Nov. 3; said 310 people had more personal information, including names, birth, dates and zip codes compromised, while 10 customers had more extensive account details revealed Third Coast Bancshares ($TCBX)5M share IPO priced at $25.00
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Monday, November 1, 2021 Futures Up/Down % Last Dow 159.00 0.45% 35,863 S&P 500 20.25 0.44% 4,617 Nasdaq 65.50 0.41% 15,904 Another day, another record for U.S. averages with the S&P, Dow and Nasdaq looking to add to October gains and kick off the new trading month off strong. Materials and some consumer products are getting a boost after the U.S. and European Union reached a trade truce on steel and aluminum tariffs over the weekend. The two sides were working hard to reach a deal before Dec. 1, when the European retaliatory tariffs were set to double; the 25% tariffs will apply to EU exports beyond 3.3 million tons, Bloomberg reported. The EU agreed to drop retaliatory tariffs on U.S. motorcycles, jeans and bourbon whiskey per Bloomberg (shares of names like HOG looking higher). Earnings optimism also continues to offset concern over a near-term move on tapering from the Federal Reserve that could add to signals of slowing growth in the supply chain-snarled economy, ahead of the FOMC meeting later this week. In Asian markets, The Nikkei Index rose 2.6% or over 750 points to 29,647, the Shanghai Index slipped a few points to 3,544 and the Hang Seng Index dropped -0.88% or over 200 points to 25,154. In Europe, the German DAX is up about 135 points to 15,825, while the FTSE 100 gains +0.5% to 7,275. After posting the worst monthly returns since March 2020 in September, it was a rip fest in October as the S&P 500 500 gains 6.9%, the Dow Jones Industrial Average climbs 5.8%, the Nasdaq Composite adds 7.3% and the Russell 2000 jumps 4.2%. The S&P 500, Dow register 4-straight weeks of gains for the first time since mid-April, Nasdaq notches first 4-week advance since June. As for last week, the S&P 500 gains 1.33%, the Dow rose 0.4% and Nasdaq added 2.71%. overall Friday, the U.S. stock market set another round of record highs as Wall Street looked past disappointing results from major companies Apple and Amazon to wrap up its best month of the year. Market Closing Prices Yesterday The S&P 500 Index gained 8.96 points, or 0.19%, to 4,605.38 The Dow Jones Industrial Average rose 89.06 points, or 0.25%, to 35,819.56 The Nasdaq Composite climbed 50.29 points, or 0.33%, to 15,498.39 The Russell 2000 Index slipped -0.79 points, or 0.03% to 2,297.19 Events Calendar for Today 10:00 AM ET Construction Spending for September 10:00 AM ET ISM Manufacturing PMI for October Earnings Calendar: Earnings Before the Open: AMG, BEN, CNA, ENBL, IVAC, JELD, L, OIS, ON, PCG, SXC, TKR Earnings After the Close: ADC, ADTN, ADUS, ANET, APEN, BNL, BRKR, BRX, BWXT, CACC, CAR, CHGG, CLX, CRUS, CSWC, CURO, EPRT, EVER, FANG, GXO, HLIT, HOLX, IPI, KFRC, KMT, LEG, LXU, MCK, MOS, NBIX, NSP, O, OTTR, PLOW, PSA, RHP, RIG, RMBS, SBAC, SKT, SOI, SPG, TA, TTI, UAN, UNVR, VNO, VNOM, VRNS, WMB, ZI Macro Up/Down Last Nymex 0.50 84.07 Brent 0.83 84.55 Gold 4.40 1,790.30 EUR/USD -0.0009 1.1570 JPY/USD 0.18 114.17 10-Year Note +0.023 1.579% World News China’s official manufacturing purchasing managers’ index fell to 49.2, the National Bureau of Statistics said Sunday, the second month it was below the key 50-mark that is between expansion and contraction The U.K. and France have agreed to de-escalate their spat over Brexit and fishing rights following a meeting between French President Emmanuel Macron and British Prime Minister Boris Johnson on the sidelines of the Group of 20 summit of leaders in Rome Sector News Breakdown Consumer Barron’s took a deep dive into the roads automakers and their suppliers are taking to build a better battery. Raw materials have gotten an upgrade to shorten the supply chain and boost performance. Tesla ($TSLA) has switched to nickel as a substitute for scarcer cobalt, while General Motors ($GM) has sought out alternatives to graphite since its mostly mined in China, Barron’s said. Companies that benefit from revamped supply chains will be the best investment, Albemarle ($ALB), for instance, supplies about one-third of the world’s lithium. Battery capacity will need to jump fourfold by the next few years, according to Barron’s NVR Corp. ($NVR) mentioned positively in Barron’s noting the stock has been flat in recent months and KeyBanc’s analyst said he saw diminished earnings momentum but still kept a $5,450 price target on the stock, an 11% premium over Friday’s close, and for the first time this year, a company insider recently made an open-market buy Bally’s Corporation ($BALY) submitted a proposal to Chicago to develop and operate the $1.6 billion Bally’s Chicago, an entertainment destination resort. Li Auto ($LI) has delivered 7,649 Li ONEs, up 107.2% year over year; as of October 31, 2021, the year-to-date and cumulative deliveries of Li ONEs reached 62,919 and 96,516 respectively. Nio ($NIO) said it delivered 3,667 vehicles in October 2021, representing a decrease of 27.5% year-over-year. XPeng ($XPEV) said monthly deliveries in October 2021 of 10,138 Smart EVs, representing an increase of 233% Y/Y and a 2.6% decline over last month Wynn Resorts ($WYNN), Melco Gaming (MLCO): Macau’s gaming bureau reported October gross revenue from games of fortune in the region decreased 40% year-over-year to 4.365B patacas. Stanley Black & Decker ($SWK) downgraded to Underperform from Neutral at Bank America Energy, Industrials and Materials The U.S. and the European Union have announced a deal at the G20 summit in Rome to ease U.S. tariffs on steel and aluminum totaling more than $10B of E.U. exports each year, removing one of the most significant trade disputes from the Trump administration’s levies imposed in 2018 Deere ($DE) said it reached a tentative agreement with the United Auto Workers (UAW) two weeks after more than 10K workers at 14 plants went on strike. The deal, reached after 90% of union members rejected the first tentative agreement, “contains enhanced economic gains and continues to provide the highest quality healthcare benefits in the industry,” the UAW said. China’s Ganfeng Lithium Co Ltd and its unit GFL International Co Ltd have signed a contract to supply battery-grade lithium products to U.S. electric vehicle (EV) maker Tesla Inc ($TSLA) Financials Barclays PLC ($BCS) CEO Jess Staley was asked to step down Monday following an investigation by U.K. regulators into his relationship with convicted sex offender and financier Jeffrey Epstein. Britain’s Financial Conduct Authority said Staley, 64, told regulators and the bank that his relationship with Epstein ended in 2015. CNA Financial ($CNA) Q3 core EPS 87c vs. est. 60c; posted record underlying combined ratio of 91.1%, double-digit gross written premium growth across all of our P&C business segments and excellent new business growth of 24% Healthcare Moderna ($MRNA) announced that the FDA informed it on Friday that the agency required additional time to review the company’s Emergency Use Authorization (EUA) request for COVID-19 vaccine for use in those aged 12 – 17 years. Regulators told Moderna that the analysis may not be completed until January Novavax ($NVAX) files for covid-19 vaccine authorization with health Canada and completes submission for rolling review to European medicines agency Tilray ($TLRY) downgraded to Neutral from Overweight at Cantor Fitzgerald and cut tgt to $11.80 from $18.00 LianBio ($LIAN)3M share IPO priced at $16.00 Technology, Media & Telecom Madison Square Garden Sports ($MSGS) MSG Entertainment $(MSGE) and AMC Networks ($AMCX) are at inexpensive prices according to Barron’s. Online sports gambling, due to start in New York in the next few months, looks like a big plus for both MSG Sports and MSG Entertainment because of advertising, fan engagement, and a potential sports book in Madison Square Garden Pearson Plc ($PSO) may see increased pressure from Europe’s largest activist pressure as the company works to convince holders about a turnaround under CEO Andy Bird, according to a Telegraph report. Activist Cevian Capital now owns 8.5% of Pearson and is the company’s second largest investor, the Telegraph reported. https://bit.ly/3muoDGw Cinemark Holdings Inc. ($CNK) and IMAX Corp. (IMAX) time to shine said Barron’s noting IMAX had its best October on record thanks to “Dune” and other films. Meanwhile, “Cinemark’s 3Q results should show further signs of improvement as the business steadily builds momentum,” writes MKM analyst Eric Handler. AMC Entertainment ($AMC) claimed that the domestic industry box office for October 2021 is estimated to come in considerably higher than that of any previous month since February of 2020. TripAdvisor ($TRIP) downgraded to Underweight from Overweight at Barclays and cut tgt to $30 from $49
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ouch > @Benlax said: one of my good buddies port is over 60% snap and wynn
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one of my good buddies port is over 60% snap and wynn
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wynn the most tied
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MGM, Sands, Wynn are the three
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$WYNN added to watch.
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@everyone Monday, September 20, 2021 Futures Up/Down % Last Dow -529.00 1.54% 33,933 S&P 500 -56.75 1.28% 4,365 Nasdaq -154.00 1.00% 15,172 U.S. indices are trading down over 1% in pre-market trading and touching their lowest levels in almost 2 months this morning as large Chinese real estate developer Evergrande’s debt crisis is weighing on Asian markets and several macroeconomic factors are making investors wary. The Federal Reserve’s two-day September meeting begins tomorrow where they may lay out plans to begin tapering bond purchases and its quarterly dot plot will provide a forecast on when the central bankers expect to hike interest rates from their current levels of 0-0.25%. Additionally, the federal government is currently facing the threat of running out of money October 1 unless Congress raises the debt ceiling, and Treasury Secretary Janet Yellen wrote an op-ed in the Wall Street Journal over the weekend imploring Congress to raise it as the Treasury will exhaust its cash reserves and borrowing capacity sometime next month if no action is taken. Today’s move lower comes after the S&P closed below its 50-day moving average for the 1st time since June 18th on Friday with materials and technology companies struggling. Late Friday, an FDA panel decided not to recommend a booster for the Pfizer vaccine for people 16 years and older by a vote of 16-3 saying there was not enough data to determine the step-up effectiveness of the third shot. However, the panel unanimously approved a narrower vote of authorizing booster dose of Pfizer/BioNTech covid-19 vaccine at least 6 months after full vaccination for people 65 and older and those at high risk for severe disease (a narrower approval than markets were hoping for). The University of Michigan’s preliminary sentiment index edged up in August, but buying conditions for household durables, homes and motor vehicles all fell to the lowest in decades due to complaints about high prices. The dollar rose while precious metals mostly fell, as gold posted a second straight weekly drop ahead of the FOMC meeting later this week. A potential hike in corporate taxes could eat into earnings also weigh on markets, with leading Democrats seeking to raise the top tax rate on corporations to 26.5% from the current 21%. In Asian markets, the Hang Seng Index is plunging 821 points while Tokyo and Shanghai markets are closed for holiday. In Europe, the German DAX is down 367 points and the FTSE 100 is lower by 118 points. Market Closing Prices Yesterday The S&P 500 Index dropped -40.76 points, or 0.91%, to 4,432.99 The Dow Jones Industrial Average fell -166.44 points, or 0.48%, to 34,584.88 The Nasdaq Composite sunk -137.96 points, or 0.91%, to 15,043.97 The Russell 2000 Index advanced 3.96 points, or 0.18% to 2,236.87 Events Calendar for Today 10:00 AM ET NAHB Housing Market Index for Sept Earnings Calendar: Earnings Before the Open: none Earnings After the Close: $LEN Other Key Events: European Society for Medical Oncology (ESMO) 2021 Virtual Congress, 9/16-9/21 Oppenheimer Fall Healthcare Life Sciences & MedTech Summit (virtual), 9/20-9/23 Roth Capital 8th Annual Solar Symposium (virtual), 9/20-9/23 Stephen’s 11th Annual Bank Forum, in Little Rock, AR, 9/20-9/22 Macro Up/Down Last Nymex -1.49 70.33 Brent -1.29 74.05 Gold 8.10 1,759.50 EUR/USD -0.0012 1.1713 JPY/USD -0.42 109.53 10-Year Note -0.039 1.331% World News Chinese real estate developer Evergrande is facing a default on $150M in bond payments this week and officials have refused to commit any rescue cash to the country’s 2nd largest developer who currently has more than $310B in debt. Sector News Breakdown Consumer Barron’s noted the sell-off in Wynn Resorts ($WYNN) and Las Vegas Sands ($LVS) the past couple of days amid jitters that the Macau government will impose more onerous concession, or licensing, agreements when they expire next year could be setting up a buying opportunity for investors who are patient and have a bankroll to withstand the unlucky streak S. auto safety investigators have opened a new probe into 30 million vehicles built by nearly two dozen automakers with potentially defective Takata air bag inflators – Reuters Three investigators with the National Transportation Safety Board are traveling next week to Coral Gables, Florida to investigate a fatal accident in which a Tesla ($TSLA) Model 3 left the roadway and collided with a tree. NTSB officials say the investigation will focus on the operation of the vehicle and the post-crash fire that consumed the car Energy, Industrials and Materials Boeing ($BA) has been awarded a $1.62B indefinite-delivery/indefinite-quantity contract for missile guidance repair. BHP Group ($BHP), Rio Tinto ($RIO), Anglo American ($NGLOY), Glencore ($GLNCY), and Vale ($VALE) are in the best shape ever, Barron’s reported for mining companies. Their shares, however, trade cheaply amid worries that the good times in industrial commodities are ending. For investors willing to accept some risk, the Big Five miners offer a rich opportunity Financials A senior U.S. trade official privately criticized India’s July decision to ban Mastercard Inc ($MA) from issuing new cards, calling it a “draconian” move that caused “panic”, according to U.S. government emails seen by Reuters. Healthcare Astellas Pharma ($ALPMY) and Pfizer ($PFE) announced ahead of the European Society for Medical Oncology Congress 2021 that XTANDI improved overall survival in the ARCHES study in men with metastatic hormone-sensitive prostate cancer. Exelixis ($EXEL) announced that the U.S. FDA approved CABOMETYX for the treatment of adult and pediatric patients 12 years of age and older with locally advanced or metastatic differentiated thyroid cancer that has progressed following prior vascular endothelial growth factor receptor-targeted therapy and who are radioactive iodine-refractory or ineligible White House medical adviser Anthony Fauci said on Sunday that data needed to determine the advisability of booster shots of the Moderna Inc (MRNA) and Johnson & Johnson ($JNJ) COVID-19 vaccines is just weeks away Quidel ($QDEL) has been awarded a maximum $710.57M indefinite-delivery/indefinite-quantity contract for over-the-counter antigen test kits AstraZeneca ($AZN) reported updated Phase 3 trial results for Imfinzi that showed the drug combined with chemotherapy tripled patient survival at 3-year in extensive-stage small cell lung cancer Technology, Media & Telecom Brooks Automation ($BRKS) agreed to sell its semiconductor solutions group business to Thomas H. Lee Partners for $3B in cash and will no longer pursue a separation into 2 independent and publicly traded companies
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Wynn Resorts, Limited owns and operates luxury hotels and destination casino resorts in Las Vegas, Nevada, Macau, and China. The Company offers amenities such as guest rooms and suites, restaurants, golf course, and an on-site luxury automotive dealership.
CEO: Craig Billings
HQ: 3131 Las Vegas Blvd S Las Vegas, 89109-1967 Nevada