Continue reading Closing Bell: Forgetting About Earnings (CIEN, KO, GS, IBM, MGM, MTG)

Closing Bell: Forgetting About Earnings (CIEN, KO, GS, IBM, MGM, MTG) originally appeared on BloggingStocks on Tue, 20 Apr 2010 16:10:00 EST. Please see our terms for use of feeds.

The International Securities Exchange (ISE) reports that traders on Friday bought to open 5,064 puts on MGM, compared to just 1,009 calls. In other words, traders purchased roughly five times more puts than calls.

In fact, MGM now sports a 10-day ISE put/call volume ratio of 1.25, which ranks higher than 97.5% of other such readings taken during the past year. This lofty ratio reveals that speculative investors have rarely scooped up puts over calls at a faster pace.

Continue reading Bears Brace for a Pullback from MGM Mirage

Bears Brace for a Pullback from MGM Mirage originally appeared on BloggingStocks on Mon, 01 Feb 2010 15:30:00 EST. Please see our terms for use of feeds.

MGM Mirage (MGM) closed at $11.95. February option implied volatility is at 67; March is at 72; below its 26-week average of 81, according to Track Data, suggesting decreasing price movement.

Kinross Gold (KGC) closed at $20.03. Gold is recently mixed at $1134 according to Bloomberg. February option implied volatility is at 41, May is at 47; versus its 26-week average of 50 according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Options Update: MGM Mirage Feb Volatility Low as Shares Trend Higher originally appeared on BloggingStocks on Wed, 13 Jan 2010 09:10:00 EST. Please see our terms for use of feeds.

MGM Mirage (MGM) closed at $10.56. MGM says Dubai World's financial troubles wouldn't affect its CityCenter project. MGM December and January option implied volatility of 70 is below 26-week average of 89, according to Track Data, suggesting decreasing price movement.

Hologic (HOLX), a digital mammography company, closed at $14.42. HOLX will be displaying its diagnostic imaging products at the Radiological Society of North America (RSNA) 2009 Annual Meeting today. December option implied volatility is at 43, January is at 42; below its 26-week average of 50, according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Options update: MGM Mirage volatility low at 70 originally appeared on BloggingStocks on Mon, 30 Nov 2009 08:20:00 EST. Please see our terms for use of feeds.

Valero Energy (NYSE: VLO) closed at $18.31. VLO is expected to report Q2 EPS on July 28. Crude oil futures are recently up 0.82% to $68.61. VLO August call option implied volatility is at 38, puts are at 43; below its 26-week average of 61, according to Track Data, suggesting decreasing price movement.

MGM Mirage (NYSE: MGM) closed at $7.73. MGM is expected to report Q2 EPS on August 3. August option implied volatility is at 83; September is at 87; below its 26-week average of 110, according to Track Data, suggesting decreasing price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Options Update: Valero Energy volatility low into EPS, production rates and $68 oil originally appeared on BloggingStocks on Mon, 27 Jul 2009 08:30:00 EST. Please see our terms for use of feeds.

Analyst upgrades:

• Citigroup upgraded Lennar (NYSE: LEN) to Buy from Hold as it believes the company's near-term liquidity profile is improved following the $400M debt issuance. The firm raised its target price to $12 from $11.
• Jefferies upgraded Rowan Companies (NYSE: RDC) to Buy from Hold as it believes jack-up drillers will continue to outperform deepwater names. The firm raised its target price to $27 from $20.
• Keefe Bruyette upgraded First Financial (NASDAQ: FFIN) to Market Perform from Underperform to reflect more positive loan data for the Texas banks. The firm raised its target price on shares to $44 from $38.
• MGM Mirage (NYSE: MGM) was upgraded to Overweight from Neutral at JP Morgan.
• Morgan Stanley (NYSE: MS) was upgraded to Outperform from Market Perform at JMP Securities.
• Brinker (NYSE: EAT) was upgraded to Overweight from Equal Weight at Barclays.

Continue reading Analyst upgrades, downgrades and initiations: LEN, RDC, FFIN, SII, AN, ACHN, UA, LULU, JST

Analyst upgrades, downgrades and initiations: LEN, RDC, FFIN, SII, AN, ACHN, UA, LULU, JST originally appeared on BloggingStocks on Mon, 18 May 2009 10:30:00 EST. Please see our terms for use of feeds.

Continue reading MGM Mirage banks earnings thanks to Treasure Island sale

MGM Mirage banks earnings thanks to Treasure Island sale originally appeared on BloggingStocks on Tue, 05 May 2009 09:45:00 EST. Please see our terms for use of feeds.

Late last Friday, casino giant MGM Mirage (NYSE: MGM) announced that it would provide $200 million to keep its $8.7 billion CityCenter project running.

This move should help resolve a "likely bankruptcy filing." Of the $200 million, $100 million should be provided by Dubai World, which is MGM's partner in the CityCenter joint venture. MGM stated that the funding is "with the authorization of its senior lenders" and satisfies the necessary sponsor equity contributions.

Continue reading MGM resolves a potential bankruptcy filing

MGM resolves a potential bankruptcy filing originally appeared on BloggingStocks on Mon, 30 Mar 2009 12:40:00 EST. Please see our terms for use of feeds.

After days of rallying, the market decided that bank stocks had gone much too far. With no first quarter earnings out, the fact is that the current quarter could still be tough. Financial shares could still reset lower. The market reacted accordingly.

The unofficial numbers for the day broke out like this:

Dow 7,278.38 -122.42 (-1.65%)
S&P 500 768.54 -15.50 (-1.98%)
Nasdaq 1,457.27 -26.21 (-1.77%)

TOP ANALYST CALLS

Continue reading Closing bell: End of bank rally brings the show down (AIG, EXPE, GM, MGM, XRX)

Closing bell: End of bank rally brings the show down (AIG, EXPE, GM, MGM, XRX) originally appeared on BloggingStocks on Fri, 20 Mar 2009 16:10:00 EST. Please see our terms for use of feeds.

Continue reading MGM Mirage is rolling the dice

MGM Mirage is rolling the dice originally appeared on BloggingStocks on Thu, 05 Mar 2009 14:30:00 EST. Please see our terms for use of feeds.

In an economy like this, is anyone going to the game?

Yes -- but Pittsburgh people will stay in their cars (hotels are too expensive), and the Arizona people will stay in foreclosed houses (so they should feel right at home).

Speaking of hotels -- short 'em.

I received an e-mail from the Mirage in Las Vegas to come out to watch the Super Bowl for $69 a night.

Last time I was there for the Super Bowl, maybe 15 years ago, it was about $400 a night.

The Mirage is owned by MGM Mirage (NYSE: MGM), which is hovering at a technical support price. Once it breaks through, look out.

I'm not traveling to Tampa or Las Vegas -- I'm staying at home for the big game. And I'm shorting MGM.

Michael Shulman is a contributor to OptionsZone.com.

Five winning Super Bowl trades: II. Short MGM Mirage (MGM) originally appeared on BloggingStocks on Sat, 31 Jan 2009 13:00:00 EST. Please see our terms for use of feeds.

It's Super Bowl time.

This day of the year has almost reached holiday status where families and friends gather in front of big-screen TV to spend six hours watching a typically boring football game and stuffing themselves with nachos, wings and beer.

With all of the hoopla surrounding the event, this is a good time for investors to go for some Super Bowl profits.

Why? Looks like it's not just a pseudo-holiday -- it's a tradition:

Continue reading Five winning Super Bowl trades

Five winning Super Bowl trades originally appeared on BloggingStocks on Fri, 30 Jan 2009 17:40:00 EST. Please see our terms for use of feeds.

MGM Mirage unloads Treasure Island for $500 million originally appeared on BloggingStocks on Mon, 15 Dec 2008 12:03:00 EST. Please see our terms for use of feeds.

Las Vegas Sands (NYSE: LVS) closed at $36.84. LVS September option implied volatility is at 114, October is at 95; above its 26-week average of 61 according to Track Data, suggesting larger price movement.

Wynn Resorts (NASDAQ: WYNN) is recently down $3.52 t $81.90. WYNN September implied volatility is at 74; October is at 70; above its 26-week average of 59 according to Track Data, suggesting larger price movement.

MGM Mirage (NYSE: MGM) closed at $32.45. MGM September option implied volatility is at 93, October is at 91; above its 26-week average of 70, suggesting larger movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: Casino hospitality stocks volatility elevated; LVS, WYNN, MGM originally appeared on BloggingStocks on Thu, 11 Sep 2008 08:30:00 EST. Please see our terms for use of feeds.

Continue reading MGM Mirage (MGM) shoots higher on so-so earnings

MGM Mirage (MGM) shoots higher on so-so earnings originally appeared on BloggingStocks on Tue, 05 Aug 2008 15:10:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY:

• JMP Securities started shares of Kohlberg Capital (NASDAQ: KCAP) with an Outperform rating and $14 target. The firm believes Kohlberg Capital's alliance with Kohlberg and Company allows Kohlberg Capital to take advantage of considerable expertise. JMP Securities believes Kohlberg Capital has an attractive risk/reward ratio.
  
• Roth Capital initiated ClickSoftware (NASDAQ: CKSW) with a Hold rating and $3.60 target and expects EPS pressure from the depreciating dollar near-term.
  
• Liberty Property Trust (NYSE: LRY) was initiated with a Hold rating at Stifel, citing lack of internal earnings divers and fair valuation.

• Oppenheimer initiated VisionChina Media (NASDAQ: VISN) with a Perform rating and $25 target.
  
• Merrill assumed MGM Mirage (NYSE: MGM) with a Neutral rating.
  
• Morgan Stanley started BJ's Wholesale (NYSE: BJ) and Costco (NASDAQ: COST) with Equal Weight ratings.

Analyst initiations: KCAP, CKSW and LRY originally appeared on BloggingStocks on Fri, 16 May 2008 11:43:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• According to internal company and agency documents, the Wall Street Journal reported that the FAA is investigating into why AMR Corporation's (NYSE: AMR) American Airlines ordered mechanics to skip specific safety instructions to detect damage to planes from potential lightning strikes.
• In order to compete more effectively against Apple Inc's (NASDAQ: AAPL) iPhone, the Wall Street Journal reported that Research in Motion Limited (NASDAQ: RIMM) is planning to introduce "Thunder," a touch-screen version of its BlackBerry device.

• Yahoo! Inc (NASDAQ: YHOO) is trying to quickly put the finishing touches on a search advertising deal with Google Inc (NASDAQ: GOOG) as billionaire Carl Icahn launches a proxy fight for control of Yahoo's board, according to the New York Post. Yahoo! hopes to announce a deal with Google to create an open platform system within the next week, two inside sources said.
• The New York Post reported that a partnership of MGM Mirage (NYSE: MGM) and investment company Dubai World may seek to buy the Drake Hotel site from developer Harry Macklowe. If a deal is reached, MGM and Dubai World would assume $580M in defaulted debt and interest, inside sources said.

Newspaper wrap-up: Yahoo tries to conclude deal with Google originally appeared on BloggingStocks on Fri, 16 May 2008 08:00:00 EST. Please see our terms for use of feeds.

MGM Mirage (MGM) slides on analysts' actions originally appeared on BloggingStocks on Mon, 07 Apr 2008 15:29:00 EST. Please see our terms for use of feeds.

"MGM Mirage (NYSE: MGM) is arguably the world's top publicly traded casino gaming company; from budget-minded families at the Excalibur to high-rollers at the Bellagio, no segment of the market should slip through the cracks," says value investor Nathan Slaughter.

In Half-Priced Stocks, he explains, "But this is just the beginning: the firm has ambitious plans to leverage its brands and take its gaming/hospitality experience to other growing markets around the world."

"Thanks in part to a landmark merger with cross-town rival Mandalay Group several years ago, MGM is now the dominant player on the booming Las Vegas Strip. The merger also brought together two complementary property portfolios, adding Mandalay's low/mid-tier casinos to MGM's mid/high-end resorts.

"The company also has upscale resorts in other high-profile markets, including Atlantic City's Borgata, Detroit's MGM Grand, and the Beau Rivage on Mississippi's Gulf Coast. Combined, the firm operates around 20 properties featuring more than 42,000 hotel rooms.

"And looking ahead, a busy development pipeline and global expansion plans should keep both of those totals moving briskly forward. The company recently celebrated the introduction of MGM Grand Detroit last October, and that property has already hit the ground running and emerged as a market leader.

Continue reading MGM Mirage (MGM): Value play for high rollers

MGM Mirage (MGM): Value play for high rollers originally appeared on BloggingStocks on Tue, 26 Feb 2008 13:52:00 EST. Please see our terms for use of feeds.

MGM Mirage (NYSE: MGM) is recently trading at $68.73 in pre-open trading, below its close of $71.81 Thursday.

Goldman says: "MGM pre-released 4Q2007-results appear below expectations." MGM provided a construction update on MGM's CityCenter saying "we expect the construction costs of CityCenter to be $300 million to $600 million higher than our previous estimates of $7.8 billion."

MGM overall option implied volatility of 43 is near its 26-week average of 42 according to Track Data, suggesting non-directional movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option update: MGM Mirage volatility flat into preliminary Q4 results originally appeared on BloggingStocks on Fri, 08 Feb 2008 09:35:00 EST. Please see our terms for use of feeds.