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Fly News Breaks for March 8, 2018
MGM, MLCO, LVS, WYNN
Mar 8, 2018 | 06:52 EDT
Stifel analyst Steven Wieczynski said that after meeting with property managements and industry contacts in Macau recently he came back with a "much more positive/constructive view for 2018" than he was previously forecasting. It was clear that operators were "thrilled" with how the Chinese New Year holiday played out and demand post-CNY had continued to be strong, especially on the VIP side, Wieczynski tells investors. He maintains his Buy rating on Las Vegas Sands (LVS) and Hold ratings on MGM Resorts (MGM) and Wynn Resorts (WYNN). Melco Resorts (MLCO) is another publicly traded company in the Macau gaming space.
News For LVS;MGM;WYNN;MLCO From the Last 2 Days
WYNN
Apr 24, 2018 | 19:02 EDT
UP AFTER EARNINGS: Cree (CREE) up 7.8%... Six Flags (SIX) up 6.5%... Texas Instruments (TXN) up 4.6%... Usana (USNA) up 4.4%... MKS Instruments (MKSI) up 4.2%... Supervalue (SVU) up 3.5%... iRbotot (IRBT) up 3.3%... DDR Corp (DDR) up 3.1%... Inphi (IPHI) up 3.1%... Hawaiian Holdings (HA) up 2.2%. ALSO HIGHER: Shire (SHPG) up 4.2% after reports of pending deal with Takeda... Knowles Corp (KN) up 1.8% after S&P SmallCap600 entry. DOWN AFTER EARNINGS: Teradyne (TER) down 10.2%... Edwards Lifesciences (EW) down 8.2%... Dolby (DLB) down 5.9%... Wynn Resorts (WYNN) down 2.9%... Capital One (COF) down 2.6%. ALSO LOWER: Sangamo (SGMO) down 6.2% after equity offering... Mirati Therapeutics (MRTX) down 4.1% after sitravatinib update.
WYNN
Apr 24, 2018 | 13:44 EDT
Notable companies reporting after the market close, with earnings consensus, include Amgen (AMGN), consensus $3.24... Texas Instruments (TXN), consensus $1.11... Chubb (CB), consensus $2.34... Capital One (COF), consensus $2.31... Illumina (ILMN), consensus $1.01... Edwards Lifesciences (EW), consensus $1.12... Wynn Resorts (WYNN), consensus $1.94... Teradyne (TER), consensus 42c... Robert Half (RHI), consensus 74c... Six Flags (SIX), consensus (80c)... Cree (CREE), consensus 1c... Navient (NAVI), consensus 42c... iRobot (IRBT), consensus 51c... SUPERVALU (SVU), consensus 79c.
MGM
Apr 24, 2018 | 12:42 EDT
Welcome to "Game On," The Fly's weekly recap of the stories powering up or beating down video game stocks. FORNITE VEGAS STREAM: A high-profile streaming event in Las Vegas featuring popular battle royale game "Fortnite" peaked at 667,000 concurrent viewers on Twitch (AMZN) last weekend, according to ESPN. The event pitted streamer Tyler "Ninja" Blevins against other high-level streamers at the Epic Games title in the newly opened esports arena in the Luxor Resort & Casino, which is owned by MGM (MGM). Just last month, Ninja broke the single-streamer record with just over 600,000 viewers on Twitch when he was joined in-game by rapper Drake, NFL receiver JuJu Smith-Schuster and rapper Travis Scott, ESPN noted. "Fortnite" maker Epic Games is 40% owned by Tencent (TCEHY) and is part of Disney's (DIS) Accelerator Program. CALL OF DUTY REPORTEDLY GETS BATTLE ROYALE MODE: Last week, Kotaku reported that the next edition of Activision Blizzard's (ATVI) "Call of Duty" franchise will be multiplayer-only. In addition to foregoing the kind of single-player mode that has been part of the series for over a decade, "Call of Duty: Black Ops 4" will also include a battle royale mode, similar to that found in "Fortnite" and "PlayerUnknown's Battlegrounds," according to Kotaku. The mobile version of "PUBG" is published by Tencent Games while the console version on Xbox One is published by Microsoft (MSFT). MARCH NPD SOFTWARE SALES: March NPD video game software sales fell 25% year-over-year due to a tough compare with the launch of Nintendo's (NTDOY) Switch console a year ago and its successful launch title "The Legend of Zelda: Breath of the Wild," Piper Jaffray analyst Michael Olson told investors in a research note. The top two games in March were Ubisoft's (UBSFY) "Far Cry 5" and Sony's (SNE) "MLB The Show 18," though the two titles combined generated less revenue than last year's "Zelda," Olson noted. PIPER E3 NOTE: In addition, Piper analyst Michael Olson said that this year's Electronic Entertainment Expo, or E3, could prove more of a catalyst this year for the "big three" game makers, namely Activision Blizzard, Electronic Arts (EA), and Take-Two (TTWO), than in previous years. Olson said that, in the midst of "Fortnite" fears, it was worth looking back at how game stocks typically perform ahead of E3, which is scheduled for June 12-14 in Los Angeles, California. Olson highlighted that this has historically been a time that the group of major U.S. game publishers consistently outperforms the broader market, noting that the main three publishers have an average 5-year move of up 15% in the 60 days heading into E3. The analyst said E3 2018 could prove more of a catalyst than in prior years due to a high likelihood of announcement and discussion of so-called battle royale modes being added to major titles later this year.
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