Time for your Monday...no wait it's Tuesday, dose of Trending Tickers, the stocks that you're tracking as measured by Yahoo Finance ticker searches. Making the list today:
Tesla (TSLA) up 3% and hitting all-time highs today. Shares were upgraded to buy from hold at Stifel. The analyst says Tesla has a sustainable high-end niche and demand is a late-decade problem at the earliest. For the record I'm still long Tesla shares stock and if you hacked my iCloud you'd find 100's of pictures of this chart. That is absolutely not a reccomendation.
Conns (CONN) getting hammered by nearly 30%. On a retail basis Conns looks good with same store sales growth of 11.7% but, wow, the credit side of this business fell apart over the quarter. It turns out Conns has been driven sales by offering no money down credit. Not surprisingly many of the customers taking advantage of that offering have no money. Deliquencies spiked to nearly 14% forcing Conns to take down annual guidance and change its promotional strategies.
Wynn (WYNN) is losing today and hitting 2014 lows. Macau is to blame as a Chinese anti-graft campaign is having a negative impact on the casino business. After ending a 5 year run of year over year growth in June Macau has now seen revenue fall for three consecutive months as August revenue dropped by 6%. Add to that an increase in worker demands and you have a recipe for margin crushing democracy in the Chinese gaming industry. Capitalism isn't all stock options and money laundering, baby.
Those are your Trending Tickers today. Tell us what stocks you're watching on Twitter using the hashtag #TrendingTickers.
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