Followers | 689 |
Posts | 143817 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
Monday, January 27, 2020 9:11:56 AM
By: TheStreet | January 27, 2020
• Wynn Resorts is tumbling after an analyst at Bank of America Global Research downgraded the casino operator to neutral from buy due to concern about the coronavirus.
Wynn Resorts (WYNN) shares were tumbling 6.2% to $126.45 in premarket trading Monday after concerns about the deadly coronavirus led an analyst at Bank of America Global Research to downgrade the casino-resort operator to neutral from buy.
Analyst Shaun Kelley also cut his stock-price target on the Las Vegas company to $150 from $160, telling investors in a research note that "concerns have grown over the past week as fears and headlines regarding the Wuhan coronavirus have spread."
"Understandably, the Macau-focused gaming names have traded off more than the broader market as they are 1) highly exposed to domestic Chinese travel, 2) the timing is concurrent with Chinese New Year," Kelley said.
China has confirmed 81 deaths and 2,700 cases of the virus, but warned that its incubation period could be as long as 14 days, complicating efforts to screen and detect those who may be potentially carrying the virus.
Kelley said that what is known about the disease, its curability and how it spreads is still limited. But he said the virus appears to be more difficult to combat than expected, especially as it may be contagious during its incubation period. That's unlike the SARS virus, which first infected humans in southern China in 2002 and eventually resulted in 774 deaths in 17 countries.
SARS, Kelley said had a more direct impact on Hong Kong and Macau, given the outbreak's close proximity to the two cities, whereas Wuhan is about 600 miles away.
"While the situation could stabilize in coming weeks/months," Kelley wrote, "near-term headline risk is significant, there is limited valuation support for (Wynn and Las Vegas Sands (LVS) following the recent runup, and our sense is U.S. investors have yet to capitulate."
Las Vegas Sands shares were down 5.8% to $63.90 early Monday.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent WYNN News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2024 12:07:39 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/16/2024 09:20:11 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/16/2024 08:24:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/14/2024 12:00:16 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/10/2024 08:06:08 PM
- Wynn Resorts Announces Pricing of Private Offering of $800 Million Aggregate Principal Amount of Wynn Resorts Finance 6.250% Senior Notes due 2033 • Business Wire • 09/10/2024 08:02:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/10/2024 12:05:50 PM
- Wynn Resorts Announces Private Offering of $800 Million of Wynn Resorts Finance Senior Notes Due 2033 • Business Wire • 09/10/2024 11:53:00 AM
- Dell, Palantir, and Erie Will Be Added to the S&P 500; Boeing Avoids Strike; Apple Event Takes Place Today • IH Market News • 09/09/2024 10:05:35 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/06/2024 09:25:26 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/03/2024 08:06:23 PM
- Big Lots Falls 27%, Considers Bankruptcy; DraftKings Acquires Simplebet, Berkshire Hits $1 Trillion • IH Market News • 08/29/2024 10:06:50 AM
- RELATED COMPANIES AND WYNN RESORTS UNVEIL NEW DETAILS ON THE NEXT PHASE OF HUDSON YARDS • PR Newswire (US) • 08/28/2024 04:32:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 12:07:59 AM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 08/12/2024 08:31:01 PM
- Novo Nordisk Adjusts Outlook, Airbnb Drops 16% on Declining U.S. Demand, Lumen Technologies Surges 48% in Premarket • IH Market News • 08/07/2024 09:42:51 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/06/2024 08:51:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/06/2024 08:03:46 PM
- Wynn Resorts, Limited Reports Second Quarter 2024 Results • Business Wire • 08/06/2024 08:02:00 PM
- US Index Futures Rise After Market Sell-off, Oil Prices Trim Losses • IH Market News • 08/06/2024 09:49:06 AM
- Wynn Las Vegas to Host Four Sixes Ranch Steakhouse Pop-up This Fall • PR Newswire (US) • 08/05/2024 05:00:00 PM
- US Index Futures Up Ahead of Fed Decision; Oil Prices Surge Amid Middle East Tensions • IH Market News • 07/31/2024 10:01:30 AM
- Wynn Resorts Announces Second Quarter Earnings Release Date • Business Wire • 07/30/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 01:05:02 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/28/2024 03:29:54 PM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM