Continue reading Wynn Resorts Drops on Q4 Loss

Wynn Resorts Drops on Q4 Loss originally appeared on BloggingStocks on Fri, 26 Feb 2010 13:30:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: When Bears Dial 9-1-1 (AMZN, F, MCD, MCO, WYNN)

Closing Bell: When Bears Dial 9-1-1 (AMZN, F, MCD, MCO, WYNN) originally appeared on BloggingStocks on Thu, 23 Jul 2009 16:00:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Maybe Obama's strong language was misunderstood; BAC, CB, C, FSLR, WYNN

Closing Bell: Maybe Obama's strong language was misunderstood; BAC, CB, C, FSLR, WYNN originally appeared on BloggingStocks on Wed, 25 Feb 2009 16:00:00 EST. Please see our terms for use of feeds.

Continue reading Wynn Resorts craps out on its fourth quarter numbers

Wynn Resorts craps out on its fourth quarter numbers originally appeared on BloggingStocks on Tue, 24 Feb 2009 18:20:00 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.

I have a soft spot for Shuffle Master (NASDAQ: SHFL). A few years back, I owned the stock when it was in its growth phase and made a little money on it. Now, though, the gambling entity's shares are stuck in $5-land, and it's truly been a terrible stock.

Well, on Monday, Shuffle Master reported earnings for the third quarter after the market closed. In a relative sense, the numbers weren't too bad, but at the same time, they in no way make me want to buy the stock. And believe me, I have been waiting for the day when data will reveal that Shuffle Master is a buy. I just feel that the company can return to growth at some point. Gambling isn't going away, right?

Anyway, according to this RTTNews link, revenues increased nearly 10% during the quarter, but sadly, the bottom line couldn't move. Shuffle Master booked only $0.08 per share in terms of net income, a stat which represents 0% growth. It also was a miss by two pennies of Wall Street's estimates. However, according to the press release issued by the company, there is one neat silver lining in the form of cash from operations. That metric increased 9% during the quarter, and it was driven by diligent management of working capital changes.

Continue reading Shuffle Master's Q3 wasn't disastrous, but there's still work to be done

Shuffle Master's Q3 wasn't disastrous, but there's still work to be done originally appeared on BloggingStocks on Wed, 10 Sep 2008 11:15:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• The Wall Street Journal reported that Toyota Motor Corporation (NYSE: TM) is set to revamp its manufacturing operations in the U.S. in response to rising gasoline prices that have led to a shift toward fuel-efficient models. Officials at the auto maker said key moves may include dropping plans to produce the Highlander car-SUV crossover vehicles in a Tupelo, Mississippi plant, instead producing the Prius at the plant.
• Tomorrow Apple Inc (NASDAQ: AAPL) is set to launch its second version of the iPhone but it also will be opening its APP Store to software developers--an online bazaar--with the intent of bringing more applications to the phone as it has with music via its iTunes stores. Apple's goal is to turn the iPhone into a gadget that more resembles a personal computer, the Wall Street Journal reported.

• According to sources, the South China Morning Post reported that Wynn Resorts Limited (NASDAQ: WYNN) is considering a secondary listing in Hong Kong that would raise as much as $3B. The source said that the fund-raising plan has yet to be approved that that the company is a "long way" from a share sale and "might never do it."

• In an interview, Bloomberg reported that Former St. Louis Federal Reserve President William Poole said there is an increasing chance the U.S. may need to bail out "insolvent" Federal National Mortgage Association (NYSE: FNM), or Fannie Mae, and Federal Home Loan Mortgage Corporation (NYSE: FRE), or Freddie Mac. Poole said data provided show that the fair value of Fannie Mae's assets fell 66% to $12.2B in Q2, while Freddie Mac owed $5.2B more than its assets were worth during the quarter.

Newspaper wrap-up: Apple to open App Store to software developers with PC phones in mind originally appeared on BloggingStocks on Thu, 10 Jul 2008 08:10:00 EST. Please see our terms for use of feeds.

Wynn Resorts (NASDAQ: WYNN) closed at $107.75 Monday.

WYNN is scheduled to report Q1 EPS after the close on May 1.

Deutsche Bank says: "At current levels, we believe WYNN shares do not reflect its entire pipeline (expansion at Wynn Macau, a Cotai resort and the development of the Las Vegas golf course) or potential to participate in new gaming jurisdictions."

WYNN April option implied volatility of 60 is above its 26-week average of 54 according to Track Data, suggesting larger price movement.

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

Option Update: Wynn Resorts volatility up into EPS & outlook originally appeared on BloggingStocks on Tue, 29 Apr 2008 10:10:00 EST. Please see our terms for use of feeds.

After hitting a one-year low of $85.53 in June, the stock hit a one-year high of $176.14 in October. WYNN opened this morning at $95.81. So far today the stock has hit a low of $95.60 and a high of $106.96. As of 12:15, WYNN is trading at $101.55, up $6.01 (6.3%). The chart for WYNN looks neutral and deteriorating, while S&P gives the stock a bearish 2 Stars (out of 5) Sell rating.

For a bullish hedged play on this stock, I would consider a June bull-put credit spread below the $75 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make a 9.9% return in just two months as long as WYNN is above $75 at June expiration. Wynn would have to fall by more than 26% before we would start to lose money. Learn more about this type of trade here.

Continue reading Wynn Resorts (WYNN) rises on news from Macau

Wynn Resorts (WYNN) rises on news from Macau originally appeared on BloggingStocks on Tue, 22 Apr 2008 14:18:00 EST. Please see our terms for use of feeds.

You think financial stocks are having a tough time? Check out what happened to Shuffle Master (NASDAQ: SHFL) yesterday. Its stock closed down over 26%. Talk about a bad gamble!

The company, which makes card shufflers and other products for the casino industry, has been doing horribly for a while now, even with its 30 cent bounce today. It was once a mighty growth stock, but it is currently relegated to, as of this writing, approximately-$5-per-share-status. The latest calamitous catalyst was an earnings report released on Monday which missed the expectations of Wall Street brass. Net sales for Shuffle Master's first quarter increased by 1% -- not exactly stellar top-line appreciation. Net income from continuing operations came in at a loss of $0.05 per diluted share; in the previous year's quarter, Shuffle Master saw a profit of $0.05 per diluted share from continuing operations. Apparently, analysts were looking for $0.08 per share in positive profit. They didn't get that, and then some. I'll say this, though -- cash from operations did more than double. There is at least some positive in that, I suppose.

If a picture is worth many words, if it does indeed tell a story, then a look at Shuffle Master's chart shows a tale that could only have been written by Stephen King -- a blood-soaked, gory, tortured-scream-inducing piece of prose that makes the reader want to vomit and pray for early death. Again, this isn't a financial stock, but it sure does seem like one. Several years ago, I made some money on Shuffle Master. But the days of making money from it are done for now. I do believe in the long-term power of the gambling industry, but I have no choice but to be bearish on Shuffle Master. It may recover over time, it could find its footing yet again, but I just don't perceive a value just yet. Plus, if you're looking for ideas in this sector, you can check out other companies such as International Game Technology (NASDAQ: IGT) and Wynn Resorts (NASDAQ: WYNN).

Disclosure: I don't own any of the companies mentioned here in any of my portfolios.

Shuffle Master (SHFL) is a gamble not worth taking originally appeared on BloggingStocks on Wed, 19 Mar 2008 14:28:00 EST. Please see our terms for use of feeds.

Las Vegas Sands (NYSE: LVS), a leading international developer of multi-use integrated resorts operated by Sheldon Adelson, is recently down $10.62 to $133.97.

• Morgan Stanley said that preliminary Macau gaming revenues are up 55% YoY versus its estimate for 70% and below the Street's estimates.
  
• LVS October option implied volatility of 57 is above its 26-week average of 41 according to Track Data, suggesting larger price fluctuations.

Wynn Resorts (NASDAQ: WYNN) operates Wynn Macau & Wynn Las Vegas.

• WYNN is recently down $13.23 to $152.72.
  
• UBS Warburg downgraded WYNN to Sell from Neutral.
  
• WYNN overall option implied volatility of 54 is above its 26-week average of 43 according to Track Data, suggesting larger price fluctuations.

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

Option update: Las Vegas Sands (LVS) and Wynn Resorts (WYNN) sell off on Macau expectations originally appeared on BloggingStocks on Wed, 03 Oct 2007 13:30:00 EST. Please see our terms for use of feeds.

• 3,000 rooms
• 1.2 million square feet of convention space
• 550,000 square ft of gaming space, with 3,400 slots, 870 gaming tables
• 15,000 seat theater soon to feature the Cirque du Soleil.
• 10,000-person staff.

Continue reading Las Vegas Sands (LVS) opens world's biggest casino

Las Vegas Sands (LVS) opens world's biggest casino originally appeared on BloggingStocks on Fri, 31 Aug 2007 16:20:00 EST. Please see our terms for use of feeds.

Wynn Resorts looks to the Philippines originally appeared on BloggingStocks on Mon, 26 Mar 2007 15:50:00 EST. Please see our terms for use of feeds.

• CIBC recommends that investors continue to own casino operators heading into 2007 based on their view that while many stocks are fully valued, drivers could persist into the first-half of 2007;
• the firm downgraded MGM Mirage (NYSE:MGM), Station Casinos Inc. (NYSE:STN) & Ameristar Casinos Inc (NASDAQ:ASCA) to Sector Performer from Sector Outperformer based on valuation and Wynn Resorts Ltd. (NASDAQ:WYNN) to Sector Underperformer from Sector Performer based on valuation and increased competition.
• JP Morgan downgraded shares of Qualcomm Inc. (NASDAQ:QCOM) to Underweight from Neutral, citing increased legal expenses that could impact margins.

• Keefe Bruyette downgraded shares of Washington Mutual Inc. (NYSE:WM) to Market Perform from Outperform, citing limited margin expansion due to the inverted yield curve.
• BB&T downgraded Bassett Furniture Industries Inc. (NASDAQ:BSET) to Hold from Buy, citing weak consumer demand for the move.
• Deutsche Bank downgraded CNOOC Ltd. (NYSE:CEO) to Hold from Buy.

Analyst downgrades 12-22-06: Qualcomm to Underweight originally appeared on BloggingStocks on Fri, 22 Dec 2006 11:23:00 EST. Please see our terms for use of feeds.

Steve Wynn's accidental ripping of Picasso's Le Reve ("The Dream") is the year's most expensive errant elbow. Fellow collector and hedge fund billionaire Steve Cohen has a bit more space for Damien Hirst's refreshed shark since the deal to sell him the Picasso for $139 million abruptly ended as Wynn stuck his elbow into the painting.

Wynn suffers from an eye disease called retinitis pigmentosa, which impairs his peripheral vision, and this may have contributed to the unfortunate poke as he showed off the painting to a group of friends in September.

Wynn paid $48.4 million for the painting in 1997, so a two-inch tear is a $90.6 million loss. Nora Ephron quotes Wynn saying "This has nothing to do with money. The money means nothing to me," moments after putting his elbow through the famous painting. I guess you can file that under 'H': for 'How the rich are different.'

But it's probably true. So no tears for Mr. Vegas.

Wynn's been a billionaire since 2004. And it's a good thing since the repair is estimated to cost $85,000. Pocket change! His wife Elaine has been quoted as saying she considers this "a sign" that they should keep the painting, so keep it they will. In addition, Wynn Resorts (NASDAQ:WYNN) recently announced a $6 per share dividend. The extra $8 million or so should help ease the pain of not selling the most expensive painting ever.

Steve Wynn has at least acquired some great nicknames: "Cubist Killer "(NY Post) and "billionaire goofball "(BoingBoing.net). This is also a cautionary note to those of us who tend to talk with our hands -- it could end up costing you.

Steve Wynn can afford his expensive elbows originally appeared on BloggingStocks on Fri, 01 Dec 2006 10:00:00 EST. Please see our terms for use of feeds.

MOST NOTEWORTHY: Wynn Resorts (WYNN), Las Vegas Sands (LVS) and Sprint Nextel (S) top today's list of downgrades.

• Wynn Resorts Ltd. (NASDAQ:WYNN) and Las Vegas Sands Corp. (NYSE:LVS) were downgraded by Stifel, Nicolaus & Co. to Hold from Buy on valuation.
• A.G. Edwards downgraded Sprint Nextel Corp. (NYSE:S) to Hold from Buy on valuation. The firm said shares are nearing their $21 target and they highlighted low subscriber additions and high churn remains as contributing factors.

OTHER DOWNGRADES:

• AU Optronics (NYSE:AUO) was downgraded at Deutsche Bank to Hold from Buy. The firm lowered its estimates to reflect earlier-than-expected weakness from both LCD TVs and LCD monitors, and it believes shares will be range-bound with the company's weaker earnings outlook.
• Finally, ThinkEquity downgraded RightNow Technologies, Inc. (NASDAQ:RNOW) to Source of Funds from Buy citing recent executive losses and competition ahead of the important 2007 product cycle.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Analyst downgrades 11-14-06: Sprint, Wynn and Las Vegas Sands downgraded to Hold originally appeared on BloggingStocks on Tue, 14 Nov 2006 11:33:00 EST. Please see our terms for use of feeds.