Steve Wynn sold 4.1 million shares of Wynn Resorts at $180 per share, the filing showed, which now makes him the third-biggest shareholder in the company, behind his former wife Elaine Wynn and The Vanguard Group Inc, according to Thomson Reuters data. Wynn Resorts' shares dipped 0.8 percent to $177.50 in trading ahead of the opening bell. The casino mogul's share sale comes a week after Wynn Resorts said Steve and Elaine Wynn, who has a 9.26 percent stake, had scrapped a shareholder agreement that prevented them from selling their stakes.
While people are still coming to grips with the fact that Toys ‘R’ Us will be nothing but a memory before long, bargain hunters have been scouring for information on when the liquidation sales will begin. Going out of business sales will begin at most U.S. stores on Thursday, the company said at a hearing in U.S. Bankruptcy Court Tuesday.
Huawei can’t catch a break in the States. Just at the company was set to announce a big carrier deal at CES, AT&T reportedly switch gears last minute. Now, a week before the company is set reveal its next big flagship at an event in Paris, Best Buy is
Steve Wynn cut his stake in the $18 billion casino company he founded after settling an acrimonious, six-year court fight with his ex-wife, a move that may move the company closer to becoming an acquisition target. Wynn, 76, sold 4.1 million shares in Wynn Resorts Ltd. at $180 a share, according to a regulatory filing Thursday. The sale brings his stake down to 7.8 percent from 12 percent, lower than his ex-wife’s holding in the company.
Shares of Micron MU closed slight lower on Wednesday, just one day before the company is scheduled to release its latest quarterly financial results. This red-hot stock has attracted plenty of attention lately, so we should expect its earnings announcement to make waves throughout Wall Street as investors continue to grapple with fresh market-wide volatility and international trade questions. Micron is one of the world’s leading semiconductor memory solutions companies.
Former Uber CEO Travis Kalanick is becoming the CEO of City Storage Systems. The company takes disused spaces like car parks and abandoned shopping malls and helps businesses make use of them. The company has projects to create kitchens for food delivery and also warehouse space for online retail companies.
General Electric Co. (GE) has been a dumpster fire. The stock is down roughly 55% over the past 12 months, and is hitting fresh 52-week lows on Tuesday. Shares couldn't gain any traction, closing just two pennies off session lows at $13.64, down 3.06% for the session. Earnings, cash flow and a massively underfunded pension fund have many investors worried about the long-time industrial stalwart. While GE was once a dividend-paying industrial titan, it's clearly lost its way. Even after halving its dividend in November, some investors still worry that another cut could come down the road. GE seemed like a safe, low valuation dividend-paying company. Obviously new revelations prove anything
Citigroup Inc. said Chief Executive Officer Michael Corbat was unaware that the bank was in the process of closing a real estate loan to a Kushner Cos. venture when he met with Jared Kushner. Corbat requested the March 2017 meeting with Kushner, a senior adviser to President Donald Trump, to discuss U.S. trade policy and didn’t discuss the loan or any personal business with Kushner Cos., the bank’s general counsel said in a letter to four Democratic senators. New York-based Citigroup said the Kushner family has been a client for decades and the loan on a Brooklyn real estate project was made with no input from Corbat.
Further, entry of cable MSOs (multi service operators) like Comcast and Charter Communications has made it all the more difficult. Despite cut-throat pricing competition in the industry resulting in unlimited data plans with several sweeteners, postpaid customer gain is a major positive. Given this backdrop, it is not a bad idea to undertake a comparative analysis of two major players in the telecommunication industry — Verizon Communications Inc. VZ and AT&T Inc. T based on certain parameters.
Southwest Airlines shares tumbled after the company lowered its first-quarter estimates.
The past couple of years has been a rough ride for GoPro, Inc. GPRO and its troubles are far from ending. The leading manufacturer of the world's most handy camera and related accessories has seen its shares fall almost 34% year to date, underperforming the industry’s growth of around 6% by a huge margin. The company has been grappling with sluggish demand for its Hero cameras amid stiff competition from lower-priced action camera alternatives.
Streaming giant Netflix has created its own typeface, just like other tech companies have done. Netflix Sans is the name of the bespoke font, while Apple's is called San Francisco, introduced at its developer conference in 2015. Samsung announced SamsungOne in July 2016. Why? Because it will save Netflix marketing dollars, as using fonts often attracts large licensing fees, according to its brand design lead Noah Nathan. "With the global nature of Netflix's business, font licensing can get quite expensive," he told design website It's Nice That on Wednesday. "Developing this typeface not only created an 'ownable' and unique element for the brand's aesthetic … But saves the company millions of
In the latest complication for Qualcomm Inc., China’s regulators are seeking more protections for local companies before approving the U.S. chipmaker’s proposed purchase of NXP Semiconductors NV, according to people familiar with the matter. That could jeopardize Qualcomm’s bid to survive as an independent company. The concerns raised by Beijing have surfaced about a week after President Donald Trump said he was blocking Broadcom Ltd.’s proposed acquisition of Qualcomm to prevent China from stealing a technological march on the U.S. China’s Ministry of Commerce isn’t satisfied with the remedies that Qualcomm has offered so far and has told the company to propose more, said the people, who asked
Beware of the snow. Tesla in a Bear Market Is a Nice Headline, but Remember Why OMG TESLA'S STOCK IS IN A BEAR MARKET AND IT'S OUT OF CONTROL - THIS IS A PIVOTAL MOMENT FOR THE ELECTRIC CAR MAKER OMG. To anyone who has used this headline in the past 24 hours - please, please, please relax. Everything is going to be OK in the world. Facebook's (FB) Mark Zuckerberg will get his. Daniel Bryan will have a great comeback in the WWE (WWE) ring. And if you are in the Northeast, you will survive the five inches (or lots more)of snow on the car that's coming Wednesday. In case you didn't see the breaking news, Tesla's (TSLA) stock has fallen 10% from its highs, putting it narrowly in a bear market weeks
You might think of drones as consumer products, but DJI has unveiled a deal that shows where their future sales potential lies. Its commercial division is selling 1,000 custom Matrice 100 drones equipped with Skycatch imaging technology to Japanese construction equipment giant Komatsu. The sale represents the "largest commercial drone order in history," said DJI.
U.S. stocks opened sharply lower on Thursday as news that President Donald Trump would propose trade duties on China imports stoked fresh fears about a potential trade war between two of the world's largest economies that could impede domestic economic expansion in roughly its ninth year. The Dow Jones Industrial Average DJIA, -1.26% was down 340 points, or 1.3%, at 24,375, while the S&P 500 index SPX, -1.09% was off 1.2%. The Nasdaq Composite Index COMP, -1.16% traded 1.3%% at 7,253. Technology shares led losses on Thursday, as investors grapple with the Federal Reserve's policy update from Wednesday, in which the central bank lifted rates by a quarter-point to a range of 1.50% and 1.75%, but
Memory semiconductor makers Western Digital Corp (NASDAQ:WDC) and Micron Technology Inc. (NASDAQ:MU) have both been on my watchlist this year, as the industry looks ripe to continue delivering gains for the foreseeable future. Worries about a slowdown in the memory space have weighed on both WDC stock and MU stock. There is some justification for Western Digital Corp stock’s higher price tag — the company is far more established than Micron and, therefore, WDC stock offers investors much more stability.
Zuckerberg addresses data scandal in Facebook post 15 Hours Ago | 07:14 Facebook CEO Mark Zuckerberg finally broke his silence on the Cambridge Analytica data scandal on Wednesday, posting an explanation online and giving interviews to a number of news organizations. "We have a responsibility to protect your data, and if we can't then we don't deserve to serve you," Zuckerberg said in a statement on his Facebook page. Over 50 million Facebook profiles were harvested by an app for data, which was then passed on to Cambridge Analytica. You can catch up with the full story here. More user control of data In his first statement, Zuckerberg set out steps that the social network would take to avoid
Jeremy Siegel, the author of “Stocks for the Long Run,” wrote that he had examined 210 years of stock returns and found that "the real return on a broadly diversified portfolio of stocks has averaged 6.6 percent per year.” Public pension funds make similar assumptions. If the stock market outperforms GDP by 5 percent per year, total stock market capitalization will double as a fraction of the economy every 14 years. The graph below shows 30-year annualized real returns for U.S. GDP and S&P 500 investors from 1871 to 2018, the scale shows the period end-year. Only investors who started in the mid-1960s or later -- pretty much anyone under retirement age -- experienced sustained equity returns significantly more than twice GDP growth (these returns show up on the graph as periods ending from the mid-1990s and later).
Software giant Oracle Corporation (NYSE:ORCL) reported its latest batch of earnings this Monday. While the selling was severe, ORCL stock now as a result also arrived at a better technical support area where a bounce could occur.
Action Alerts Plus holding Activision Blizzard Inc. (ATVI) has a lot to look forward to as far as revenue growth is concerned, according to analysts at Jefferies. "The primary reason to own the stock is because new digital revenue streams (microtransactions, full-game downloads) are transforming the company into a more recurring profitable model," Jefferies analysts wrote in a March 21 note. The company generated $4 billion in microtransaction revenue in 2017 and has suggested that number could grow by double digits this year. As Jefferies pointed out, that could mean upwards of $400 million in incremental microtransaction revenue. Analyst Timothy O'Shea said that segment represents the highest-margin
The market is in wait-and-see mode in front of the FOMC interest rate decision this afternoon. Certainly, I don't expect it to go straight back up but it was probably unfairly tarnished by the Facebook drama.
A month has gone by since the last earnings report for Transocean Ltd. RIG. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Transocean posted narrower-than-expected loss per share in the fourth quarter of 2017.
With markets turning more volatile and tech growth stories turning sour, beaten down biotech stocks are getting another look. That's why, for the "Off the Charts" segment of Tuesday's Mad Money episode, Jim Cramer checked in with colleague Carolyn Boroden, who runs the FibonnacciQueen.com website and also contributes to RealMoney.com. While it may still be early too jump on stocks in the sector, Boroden told Cramer that there are several names worth watching for buying opportunities once some key technical changes appear in their charts. Cramer and Boroden started by looking at a daily chart of the iShares NASDAQ Biotechnology ETF (IBB) . Boroden pointed out that IBB found support during February's