Breakout

Apple stock 'cheaper,' Time Inc. begins trading, Wynn slides on Macau report

Making the list today based on your yahoo finance ticker searches:

Apple (AAPL). Don't be alarmed, your Apple stock isn't down 85% as some media outlets would have you believe. Apple stock is 'cheaper' because its 7 for 1 stock split went into effect today. Now that Apple is in the 90s its record high becomes $100.01. For anyone with a fundamental view towards share prices none of this matters even a little bit, but the split is big enough news to hit trending on a rainy summer Monday.

Up next, Time Inc. (TIME). That's right, the legendary company that pioneered the magazine business begins trading today as its own entity, spun off from Time Warner (TWX). The eponymous publisher of Time Magazine, People, Fortune, and Sports Illustrated has seen revenue decline in 22 of the last 24 quarters and will start off with $1.3 billion in debt. Whether new investors will be interested in owning a piece of the one-time crown jewel of the Time Warner empire is another story.

And finally, Wynn Resorts (WYNN). The flashy casino operator run by mogul Steve Wynn is seeing investors cash in their chips after a bearish analyst report put out by Wells Fargo. Wells is says VIP gaming in Macau growing is slower than expected, and this is impacting high end operator's like Wynn most acutely. Other casino operators like Las Vegas Sands (LVS) and MGM Resorts (MGM) are getting whacked as well.

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