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MGM

MGM Resorts

$27.88

-0.09 (-0.32%)

16:08
10/15/19
10/15
16:08
10/15/19
16:08

MGM Resorts to sell Circus Circus Las Vegas for $825M, sees Q3 charge of $220M

MGM Resorts announced that it has entered into a definitive agreement to sell Circus Circus Las Vegas for $825M to an affiliate of Treasure Island owner Phil Ruffin. For the 12 months ending June 30, the property reported Adjusted Property EBITDA of $62M. "MGM Resorts has engaged in an exhaustive process to evaluate its owned real estate and remains committed to executing its asset-light strategy in a measured way that maximizes value for its shareholders," said Jim Murren, Chairman and CEO of MGM Resorts. "The company expects to utilize the proceeds from this transaction to enhance its capital allocation strategy and complement its strategic and operational flexibility." The $825M purchase price will comprise $662.5M paid in cash and a $162.5M note due 2024. The transaction is expected to close in the fourth quarter, subject to customary closing conditions, including receipt of necessary regulatory approvals. The company expects to record a third quarter impairment charge of approximately $220M in connection with this transaction.

  • 30

    Oct

MGM MGM Resorts
$27.88

-0.09 (-0.32%)

08/02/19
BOFA
08/02/19
DOWNGRADE
Target $31
BOFA
Neutral
BofA/Merrill downgrades MGM to Neutral on balanced risk/reward
BofA/Merrill analyst Shaun Kelley downgraded MGM Resorts to Neutral from Buy with an unchanged price target of $31. The analyst views the risk/reward as more balanced at current share levels. Potential catalysts from the ramp of MGM Cotai in Macau, real estate optionality and the MGM 2020 Plan are balanced by rising cyclical risks, convention competition, and the company's high operating leverage, Kelley tells investors in a research note.
08/22/19
MSCO
08/22/19
NO CHANGE
MSCO
Las Vegas Sands' Osaka decision good for it and MGM, says Morgan Stanley
After Las Vegas Sands (LVS) announced that it is not pursuing a license in Osaka, choosing to focus on Tokyo and Yokohama, Morgan Stanley analyst Thomas Allen said he believes the company may be making the right long-term decision. He also views the news as a potential positive for MGM Resorts (MGM), which he thinks is now "in pole position" to win the Osaka license. Both MGM and Las Vegas Sands will face intense competition from other global gaming companies for licenses in Japan, added Allen.
09/06/19
JPMS
09/06/19
NO CHANGE
JPMS
JPMorgan sees number of events hurting Macau gross gaming revenue
A number of events are negatively impacting Macau gross gaming revenue performance, including increasing China-U.S. trade tensions, Hong Kong protests, slowing economic growth in Mainland China, and potential issues related to the city's largest junket, JPMorgan analyst Joseph Greff tells investors in a research note. As a result, the analyst lowered his Macau property level estimates for the four U.S. listed Macau operators, Las Vegas Sands (LVS), MGM Resorts (MGM), Melco Resorts & Entertainment (MLCO) and Wynn Resorts (WYNN). Greff, however, continues to see value in the Macau operators. He keeps a Neutral rating on Las Vegas Sands and dropped his price target to $60 from $68, an Overweight rating on MGM and lowered his price target to $36 from $37, an Overweight rating on Melco and lowered his price target to $25 from $29, and an Overweight rating on Wynn Resorts with a slightly reduced price target of $136.
09/17/19
MSCO
09/17/19
NO CHANGE
MSCO
Las Vegas Sands, MGM, Wynn targets cut at Morgan Stanley on Macau estimate cuts
Morgan Stanley analysts Thomas Allen and Praveen Choudhary lowered their expectations for Macau, stating they now expects gross gaming revenue to decline 3% in 2019 and grow 3% in 2020. The analysts previously forecast a 1% decline in GGR for 2019 and an 8% increase in 2020. Allen lowered his price target on Las Vegas Sands (LVS) to $66 from $68, cut his target on MGM Resorts (MGM) to $31 from $32 and reduced his Wynn Resorts (WYNN) target to $115 from $129, explaining that the Wynn cut is most pronounced since it is most exposed to Macau and to the weak high-end there. He maintains an Overweight rating on Las Vegas Sands, which he views as the most defensive and with potential Japan upside. Allen has Equal Weight ratings on MGM and Wynn shares.

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Macy's

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$14.45

0.03 (0.21%)

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PFGC

Performance Food Group

$44.66

-0.13 (-0.29%)

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ALPMY

Astellas Pharma

$0.00

(0.00%)

20:02
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Astellas Pharma, Welldoc enter into Digital Therapeutics alliance »

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PYPL

PayPal

$104.09

-0.85 (-0.81%)

19:52
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PayPal analyst commentary at Baird »

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SQM

SQM

$23.41

-0.35 (-1.47%)

19:42
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Earnings
SQM reports Q3 EPS 23c, consensus 26c »

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TNAV

TeleNav

$4.92

0.07 (1.44%)

19:37
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TeleNav CEO buys 150K shares of common stock »

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  • 20

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CRSP

Crispr Therapeutics

$67.31

-1.15 (-1.68%)

19:29
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Syndicate
Breaking Syndicate news story on Crispr Therapeutics »

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  • 07

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PFGC

Performance Food Group

$44.66

-0.13 (-0.29%)

19:26
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Syndicate
Performance Food Group upsized 10.1M share offering said to price at $44.25 »

Report from Bloomberg. …

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INVH

Invitation Homes

$30.05

0.13 (0.43%)

19:10
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19:10
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Periodicals
Breaking Periodicals news story on Invitation Homes »

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  • 21

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KRTX

Karuna Therapeutics

$108.42

-15.58 (-12.56%)

19:03
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Syndicate
Karuna Therapeutics 2.6M share Secondary priced at $96.00 »

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  • 21

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GOOG

Alphabet

$1,302.26

-12.45 (-0.95%)

, GOOGL

Alphabet Class A

$1,301.34

-11.25 (-0.86%)

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Google to limit election ads audience targeting, will prohibit 'deep fakes' »

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$1,302.26

-12.45 (-0.95%)

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Alphabet Class A

$1,301.34

-11.25 (-0.86%)

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CAN

Canaan

$0.00

(0.00%)

18:56
11/20/19
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18:56
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18:56
Syndicate
Canaan 10M share IPO priced at $9.00 »

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  • 21

    Nov

NUAN

Nuance

$16.60

0.11 (0.67%)

, CPRT

Copart

$84.69

-1.64 (-1.90%)

18:51
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Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: Nuance…

NUAN

Nuance

$16.60

0.11 (0.67%)

CPRT

Copart

$84.69

-1.64 (-1.90%)

LB

L Brands

$16.00

-1.19 (-6.92%)

JACK

Jack in the Box

$84.89

-0.08 (-0.09%)

SONO

Sonos

$13.87

-0.635 (-4.38%)

NTGN

Neon Therapeutics

$1.44

-0.04 (-2.70%)

TIF

Tiffany

$123.32

-0.16 (-0.13%)

UBER

Uber

$28.02

0.99 (3.66%)

LZB

La-Z-Boy

$36.23

-0.265 (-0.73%)

CUB

Cubic

$73.63

0.8 (1.10%)

NTES

NetEase

$287.68

-1.09 (-0.38%)

OPTN

Optinose

$11.42

0.84 (7.94%)

MTEM

Molecular Templates

$8.28

0.19 (2.35%)

PYPL

PayPal

$104.09

-0.85 (-0.81%)

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WNC

Wabash

$15.05

-0.2 (-1.31%)

18:48
11/20/19
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18:48
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Initiation
Wabash initiated at Raymond James »

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ALSN

Allison Transmission

$45.51

-0.56 (-1.22%)

18:47
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18:47
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Initiation
Allison Transmission initiated at Raymond James »

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NAV

Navistar

$30.97

-0.97 (-3.04%)

18:47
11/20/19
11/20
18:47
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18:47
Initiation
Navistar initiated at Raymond James »

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PCAR

Paccar

$78.85

-0.59 (-0.74%)

18:47
11/20/19
11/20
18:47
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18:47
Initiation
Paccar initiated at Raymond James »

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CMI

Cummins

$180.59

-2.36 (-1.29%)

18:46
11/20/19
11/20
18:46
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18:46
Initiation
Cummins initiated at Raymond James »

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  • 21

    Nov

VMC

Vulcan Materials

$140.72

-0.485 (-0.34%)

18:45
11/20/19
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18:45
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Initiation
Vulcan Materials initiated at Deutsche Bank »

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SUM

Summit Materials

$24.18

0.3 (1.26%)

18:45
11/20/19
11/20
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Initiation
Summit Materials initiated at Deutsche Bank »

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  • 04

    Dec

MLM

Martin Marietta

$263.10

1.36 (0.52%)

18:45
11/20/19
11/20
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Initiation
Martin Marietta initiated at Deutsche Bank »

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THC

Tenet

$31.36

-0.38 (-1.20%)

18:33
11/20/19
11/20
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18:33
Hot Stocks
Tenet General Counsel sells 65K shares of common stock »

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PFPT

Proofpoint

$119.56

1.25 (1.06%)

18:23
11/20/19
11/20
18:23
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18:23
Hot Stocks
Proofpoint's Salle sells 10,479 common shares »

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  • 09

    Dec

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    Dec

LVMUY

LVMH

$0.00

(0.00%)

, TIF

Tiffany

$123.32

-0.16 (-0.13%)

18:21
11/20/19
11/20
18:21
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18:21
Periodicals
Tiffany gives LVMH access to its books after raised bid, Reuters says »

LVMH (LVMUY) has…

LVMUY

LVMH

$0.00

(0.00%)

TIF

Tiffany

$123.32

-0.16 (-0.13%)

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  • 05

    Dec

CPRT

Copart

$84.69

-1.64 (-1.90%)

18:05
11/20/19
11/20
18:05
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18:05
Earnings
Copart reports Q1 non-GAAP EPS 65c, consensus 59c »

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