134.00 -2.17 (-1.59%)
Pre-Market: 9:14AM EST
|Bid||135.25 x 900|
|Ask||137.47 x 800|
|Day's Range||133.89 - 137.58|
|52 Week Range||102.03 - 153.41|
|Beta (5Y Monthly)||2.23|
|PE Ratio (TTM)||118.41|
|Forward Dividend & Yield||4.00 (3.03%)|
|Ex-Dividend Date||Feb 24, 2020|
|1y Target Est||N/A|
Readers hoping to buy Wynn Resorts, Limited (NASDAQ:WYNN) for its dividend will need to make their move shortly, as...
There are 75,203 confirmed cases of COVID-19, the coronavirus first identified in December in Wuhan, China, and 2,009 deaths, according to the most recent figures from the World Health Organization.
HONG KONG/MACAU Feb 19 (Reuters) - Casinos in Macau, the world's biggest gambling hub, reopen on Thursday after being closed for two weeks because of the coronavirus epidemic, but all punters and croupiers will have to wear a mask at the tables. Casino executives and residents say revenue will remain badly crimped in the Chinese territory's 41 casinos and the businesses dependent on them because of the health restrictions and strict entry regulations on tourists. Macau makes over 80 percent of its revenues from casinos but tourist visits have all but dried up.
(Bloomberg) -- A case study of a patient who died from the new coronavirus shows similarities with two prior deadly coronavirus outbreaks. Apple Inc. said it would miss its quarterly revenue target because of the virus.The U.S. evacuated citizens from the Diamond Princess cruise liner, including 14 who tested positive for the virus, and will quarantine more than 300 passengers. The U.S. is still figuring out what to do with American passengers on another cruise ship who disembarked in Cambodia, including one who tested positive.Beijing may delay a high-profile political meeting for the first time in decades because of the coronavirus outbreak that has infected more than 71,000 and killed 1,775 globally. Key DevelopmentsChina death toll 1,770, up 105; mainland cases rise to 70,548Hubei adds 1,933 new cases, up from 1,843 a day earlierFour missed chances for China to contain outbreakFears of global contagion as 3,000 cruise passengers go homeClick VRUS on the terminal for news and data on the novel coronavirus and here for maps and charts. For analysis of the impact from Bloomberg Economics, click here.Apple to Miss Guidance Because of Virus (4:15 p.m. NY)Apple Inc. doesn’t expect to meet its revenue guidance for the quarter ending in March due to work slowdowns from the outbreak of coronavirus in China. The company said it anticipates global supply of the iPhone to be “temporarily constrained.”Read the full story here.Japan Cruisers Quarantined; Westerdam Passengers Loose (3:19 p.m. NY)More than 300 U.S. citizens evacuated from the Diamond Princess cruise ship in Japan have returned home to begin a 14-day quarantine on military bases and for treatment in hospitals.The repatriation ends a dramatic episode on the virus-struck ship, but came with a fresh complication: As the U.S. cruise passengers were on a bus heading for Tokyo’s Haneda Airport, Japanese test results showed that 14 had the virus. And a positive test from another cruise ship that disembarked passengers in Cambodia has raised concerns about further spread of the virus around the globe.Of the Japan evacuees, 171 will be held at Travis Air Force Base between San Francisco and Sacramento, with six people sent to a local hospital for treatment, said William Walters, a senior official with the State Department‘s Bureau of Medical Services.A further 144 passengers evacuated on a separate flight will be housed at Lackland Air Force Base near San Antonio, Texas. Seven people on that flight were flown on to Omaha for treatment at the University of Nebraska.The newly diagnoses cases involved people who did not show any symptoms of the coronavirus but were diagnosed by Japanese lab tests, Walters said.The fate of hundreds of Americans coming off another cruise ship now docked in Cambodia is less clear. One of the passengers, an 83-year-old woman, was diagnosed with the virus while passing through Malaysia, and is being held in isolation there. Roughly 300 U.S. citizens who were on the Westerdam have left Cambodia, according to the State Department. But 92 remain on the ship and a further 260 are staying in hotels in Phnom Penh, the Cambodian capital.Walter said the U.S. government was tracking those citizens but had not yet made a decision on whether to send special flights to bring them home. Health officials across the world have said that catching and isolating cases of the virus before it spreads is crucial to stopping it.Damage Cause by Virus Resembles SARS, MERS (2 p.m. NY)Doctors studying a 50-year-old man who died in China last month from the new coronavirus found that the disease caused lung damage reminiscent of two prior coronavirus-related outbreaks, SARS and MERS.Read the full story here.Cruise Travel Risks Remain ‘Manageable’ Despite Virus, WHO Says: (12 p.m. NY)Cruise ship travel remains a “manageable risk” for now, and it doesn’t make sense to recommend a ban on it, the World Health Organization said, even as the return home of 3,000 travelers from two coronavirus-stricken cruise ships fuels fears of further contagion.“People say we should steer clear of cruise ships, or steer clear of airports or steer clear of certain ethnic groups,” Mike Ryan, executive director of the WHO’s Health Emergencies Program, said at a press briefing Monday at the organization’s Geneva headquarters. “We have to be really careful” of such suggestions. “We need an approach to managing risk that allows us to continue to operate as a society.”Hong Kong Virus Stress Worsens With Maids, Nannies Stuck Abroad: (11:05 a.m. NY)The Philippine ban on travel to Hong Kong is taking its toll on migrant workers, mostly women, who are part of Hong Kong’s domestic labor force. In a survey of more than 900 Filipina domestic workers in Hong Kong by placement agency HelperChoice, almost half said they were affected by the travel ban or knew someone who was.Virus Outbreak Boosts Tissue Paper Prospects in China (10:30 a.m. NY)As the outbreak ripples through China’s economy, one industry seems to be thriving. Shares of tissue paper maker Vinda International Holdings have surged 40% this year even as the main Hong Kong index is little changed. The rally may have legs. Top pulp exporter Suzano SA expects growth in China’s tissue market to accelerate amid shifts in hygiene habits.El Al CEO Sees Hard Days Ahead for Israeli Airline: (9 a.m. NY)El Al Israel Airlines is facing difficulties because of the spread of the coronavirus and may be forced to make some “painful decisions,” CEO Gonen Usishkin said in a letter to staff, without specifying what that may entail.A decision by Israel’s Health Ministry on Sunday to send travelers returning from Thailand into home quarantine for 14 days has cut demand for this destination, and the company is allowing customers to change or cancel tickets, the CEO said. Last week, the carrier suspended flights to Hong Kong until March 20 and flights to Beijing until April 24.Slump in Global Goods Trade Likely to Deepen: WTO (7:30 a.m. NY)The already slumping state of global goods trade may get even worse with coronavirus, the World Trade Organization warned.The Geneva-based body said its merchandise trade barometer fell to 95.5 from 96.6 in November. That’s before factoring in the effects of China’s health crisis on international commerce.“The slow start could be dampened further by global health threats and other recent developments in the first few months of the year,” the WTO said. In the months ahead, “every component of the Goods Trade Barometer will be influenced by the economic impact of COVID-19 and the effectiveness of efforts to treat and contain the disease.”China Sees Positive Trend in Coronavirus Epidemic: CCTV (7 a.m. NY)China’s anti-virus efforts have led to a positive trend for the epidemic nationwide, according to China Central Television, which cited Premier Li Keqiang’s comments at a meeting. The spread of coronavirus has weakened, and China has avoided a wider outbreak through all-out control, Li was quoted as saying.Top policymakers are seeking to balance the anti-virus fight with shoring up the economy, which has been running at just 40% to 50% capacity in the last week, according to Bloomberg Intelligence.Bundesbank Warns of Hit to German Exporters (6 a.m. NY)The central bank called the outbreak a “cyclical downside risk” and said a temporary decline in overall Chinese demand could damp German export activity. “Moreover, some global value chains could be impaired by security measures put in place,” the Bundesbank said in a report.Outside the European Union, China is second only to the U.S. in importance to German companies, with close to $108 billion of sales a year. The European Commission last week called the epidemic a “key downside risk” to its forecasts, while European Central Bank Chief Economist Philip Lane said the region’s economy could experience a “pretty serious short-term hit.”China’s Economy Seen Growing Slowest Since 1990 (6:52 p.m. HK)The coronavirus outbreak and China’s efforts to stop the spread mean the economy will grow slower this quarter than first thought -- the median forecast now is for growth to be the slowest in 30 years.China’s gross domestic product will grow 4% in the first quarter, according to the median of 18 forecasts since Jan. 31. That’s down from 5.9% in the last survey on Jan. 22 and the lowest level since 1990.Chinese City to Start Subsidizing Car Purchases (5:57 p.m. HK)The southern Chinese city of Foshan will start providing rebates for car purchases starting March 1. Consumers who trade in old models will be entitled to 3,000 yuan ($430) of subsidies while buyers who opt for new cars are entitled to 2,000 yuan per vehicle.President Xi Jinping has urged local governments to help boost auto sales, according to a speech by him carried on Qiushi Journal, the Communist Party’s top publication on Saturday.Singapore Issues Stricter Rules for China Returnees (5:34 p.m. HK)Singapore residents or long-term pass holders returning from mainland China must stay in their homes at all times for 14 days and closely monitor their own health, under stricter guidelines issued today.Macau Casinos Allowed to Reopen (5:30 p.m. HK)Casinos in the world’s biggest gambling hub will be able to resume operations on Thursday, following an unprecedented closure for 15 days to curb the spread of the coronavirus. Lei Wai Nong, secretary for economy and finance in the Chinese territory of Macau, said casinos can reopen Feb. 20, though it will be conditional based on criteria that he didn’t specify.Macau closed casinos for a 15-day period that began Feb. 5, in the longest shutdown ever for the world’s biggest gambling hub. MGM said it’s losing $1.5 million a day in Macau, while Wynn Resorts Ltd. said it is losing about $2.5 million a day.Earlier, Sands China President Wilfred Wong told Cable TV he expects few customers when casinos first re-open, and believes it will take two-to-three months before business can return to normal.China May Delay Annual CPPCC Meeting: CCTV (5:09 p.m. HK)Beijing is studying a proposal to delay the annual session of the Chinese People’s Political Consultative Conference, the nation’s political advisory body, state-run China Central Television reported.This follows an official Xinhua report that said China is considering delaying the annual session of the National People’s Congress, its most high-profile annual political meeting, for the first time in decades. The two meetings were originally scheduled to start early March.Japan Says 99 New Infections From Cruise Ship (5:05 p.m. HK)Japan said 99 more people from the Diamond Princess cruise tested positive for the new coronavirus, bringing the total number of infections to 454.A pair of aircraft chartered by the U.S. State Department took off early Monday to bring home Americans from the ship. Australia and Hong Kong will also use chartered flights to evacuate citizens and permanent residents who have been stranded on the ship.Cathay Pacific Warns on Results (4:45 p.m. HK)First-half financial results will be “significantly down” from a year earlier, Cathay Chief Customer and Commercial Officer Ronald Lam said in a statement. Cathay is particularly exposed to the virus because sales from Hong Kong and China account for about half of its total revenue.Separately, China’s three largest airlines reported declines in January passenger traffic because of the coronavirus outbreak, with the shortfalls likely to deepen this month as the epidemic continues to disrupt travel for millions of people. Airlines began suspending flights from about Jan. 23 after the government began locking down Wuhan and other Chinese cities.U.S. Factories in China Don’t Have Enough Staff (3:57 p.m. HK)Most U.S. factories in China’s manufacturing hub around Shanghai will be back at work this week, but the “severe” shortage of workers due to the coronavirus will hit production and global supply chains, according to the American Chamber of Commerce in Shanghai.While about 90% of the 109 U.S. manufacturers in the Yangtze River delta expect to resume production this week, 78% of them said they don’t have sufficient staff to run at full speed, according to a survey by AmCham.Beijing Auto Show Delayed (3:48 p.m. HK)China’s annual auto show, scheduled to be held in Beijing in April, will be pushed back because of the coronavirus outbreak. The new dates will be announced later, the organizer said in a statement on Monday.Taiwan Scours Taxi Driver’s Data to Trace Virus Path (12:44 p.m. HK)Health authorities in Taiwan are scouring travel histories, phone records and security camera footage in an effort to map out everyone who came into contact with a taxi driver who became Taiwan’s first confirmed death from the coronavirus.The victim, a man in his 60s from central Taiwan who died Saturday, had not recently traveled overseas and had no recorded contact with any of the 19 other people diagnosed with the coronavirus in Taiwan, according to a statement from Taiwan’s Centers for Disease Control.Singapore, Thailand Cuts Growth Outlooks (12:32 p.m. HK)Singapore and Thailand downgraded their forecasts for economic growth this year as the coronavirus outbreak hits tourism and trade.Singapore’s Ministry of Trade & Industry projected growth in a range of -0.5% to 1.5% in 2020, compared with a previous estimate of 0.5% to 2.5%. The city state, which has more than 70 cases of virus infections, is losing as many as 20,000 tourists a day amid travel curbs.Growth in Thailand is seen in a range of 1.5%-2.5% this year, down from a previous projection of 2.7%-3.7%, the National Economic and Social Development Council said.Bridgewater, Dalio Donate $10 Million for Virus Fight (12:27 p.m. HK)Billionaire Ray Dalio’s family charity and his hedge fund Bridgewater Associates LP are donating $10 million to help support China’s coronavirus relief efforts. The money will go to Peking University First Hospital, Union Hospital for Clinical Care and three medical teams led by academics in Wuhan, the world’s largest hedge fund said in an emailed statement Monday.Nintendo Is Likely to Suffer Global Switch Shortages (12:21 p.m. HK)Nintendo Co. is likely to struggle to supply sufficient Switch consoles to its U.S. and European markets as soon as April due to a production bottleneck caused by the coronavirus outbreak, according to people with knowledge of the company’s supply chain.China Stocks Rebound From Sell-off (10:13 a.m. HK)China’s stock benchmark recouped all its losses from a record $720 billion sell-off earlier this month, a sign that investor confidence is improving after policy makers acted to ease the economic fallout from the coronavirus outbreak.China’s government has pumped cash into the financial system, trimmed money-market rates and offered targeted tax cuts. Beijing will also allow local governments to sell another 848 billion yuan ($121 billion) of debt before March, as authorities seek to offset the economic shock of the coronavirus.Coronavirus Cases Top 70,000 (9:13 a.m. HK)China reported 2,048 additional coronavirus cases by the end of Feb. 16, bringing the total case count to 70,548, according to a statement from National Health Commission.China’s Hubei province reported 1,933 additional confirmed cases. While that’s slightly higher than a day earlier, it’s in line with a lower trend over the past several days. The province announced a stunning 15,000 new cases on Thursday after revising its method for counting infections.The death toll in China increased by 105 to 1,770. More than 10,000 patients have been discharged so far. There are now five fatalities outside of mainland China, after France and Taiwan reported deaths over the weekend.\--With assistance from Abeer Abu Omar, Ryan Beene, Dong Lyu, Jing Jin, Cindy Wang, K. Oanh Ha, Isabel Reynolds, Tony Czuczka, April Ma, Takashi Mochizuki, Suttinee Yuvejwattana, Siraphob Thanthong-Knight, Natalie Lung, Jason Scott, Shawn Donnan and Vince Golle.To contact Bloomberg News staff for this story: Steve Geimann in Washington at firstname.lastname@example.org;Karen Leigh in Hong Kong at email@example.com;Drew Armstrong in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Rachel Chang at email@example.com, ;Adveith Nair at firstname.lastname@example.org, Jeff Sutherland, Anne PollakFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Chinese territory of Macao will allow casinos to reopen Friday after a 15-day closure imposed to help block the spread of China’s virus outbreak.
Macau, the world's biggest gambling hub, will allow casinos to resume operations from Feb. 20, after authorities imposed a two-week suspension to curb spreading of the coronavirus, public broadcaster TDM reported on Monday, citing authorities. The unprecedented halt of gaming operations started on Feb 5 and was due to end on Feb 19. Macau has not reported any new cases of the virus since Feb 4, authorities said.
Net revenues at MGM Springfield fell by more than $6 million in the fourth quarter of 2019 despite climbing revenues companywide, according to numbers released by the resort casino’s parent company this week.
Encore Boston Harbor will replace some bartenders with automatic drink-dispensing machines in hopes of speeding up alcohol beverage service for gamblers.
China stocks and U.S. stocks with heavy exposure to China continued to rally as market fear over the coronavirus outbreak eased further.
Casino stocks with exposure to Macau, China have gotten pounded from the coronavirus, and the Chinese government even shut down Macau casinos for two weeks. Bank of America analyst Shaun Kelley upgraded Las Vegas Sands Corp. (NYSE: LVS) from Neutral to Buy and raised his price target from $72 to $80.
Investing.com – Wall Street notched on Wednesday a third-straight record close this week, as easing worries over the impact of the coronavirus prompted a wave of buying across stocks with energy leading the charge.
Wall Street was set to open near record highs on Wednesday after a drop in the number of new cases of coronavirus infections in China raised hopes that the economic fallout from the outbreak would be contained. China on Wednesday reported its lowest number of new coronavirus cases since January, lending weight to a prediction by its top medical adviser for the outbreak to end by April, even as the death toll in the country rose to more than 1,100 people.
Benzinga Pro's Stocks To Watch For Wednesday Uber (UBER) - Shares were up 0.8% in opposition with Lyft (LYFT) shares which were down 5% following Q4 results from the latter. Most sell-side analysts ...
U.S. stock index futures rose on Wednesday after a drop in the number of new cases of coronavirus infections in China raised hopes that the economic fallout from the outbreak would be contained. China on Wednesday reported its lowest number of new coronavirus cases since January, lending weight to a prediction by its top medical adviser for the outbreak to end by April, even as the death toll in the country rose to more than 1,100 people. Most experts believe China faces a short but sharper economic shock than originally thought, one that will be felt around the world.
U.S. stock futures have fluctuated on Monday as investors work out what to make of the latest coronavirus developments.
It would take MGM Springfield weeks, not months or years, to get a sports betting operation up and running.
Global stock markets are mixed as companies lower forecasts to start the week and investors weigh coronavirus impact.
(Bloomberg) -- China named two officials to take charge of the response to the coronavirus outbreak in the province of Hubei as the government attempts to slow the spread of the illness. A new report in a medical journal said the infection was spreading inside a Wuhan hospital taking care of patients.The Federal Reserve Board said that the coronavirus outbreak presented a “new risk” to the economic outlook for the U.S. and warned of disruptions in global markets. Canada Goose Holdings Inc. cut its sales and profit forecasts, hours after Burberry Group Plc withdrew its full-year outlook, with both companies blaming the new coronavirus.Key DevelopmentsWorld’s retailers take hit as Chinese shoppers stay homeChina death toll at 636; confirmed cases at 31,161Death of a hero doctor sparks crisis of confidence in Xi’s ChinaJapan cruise ship outbreak is now the biggest outside China with 61 sickNumber of new cases reported in China decline for a second day: WHOBloomberg is tracking the outbreak on the terminal and online.Medical Supply Chain From China Unaffected (3:30 p.m. NY)The coronavirus hasn’t led to any disruptions in the U.S. in the supply chain of medical and protective gear, much of which is made in China, officials from President Donald Trump’s task force said at a briefing Friday where they updated the public on progress.Efforts to produce drugs to treat infections and vaccines to prevent new cases are proceeding smoothly, said Anthony Fauci, head of the National Institute of Allergy and Infectious Diseases.There are two studies underway using Gilead Sciences Inc.’s remdesivir to see if patients treated with it recover more quickly than those given standard supportive care. Efforts to start human studies of Moderna Inc.’s potential vaccine within the next two-and-a-half months are proceeding with no glitches, Fauci said.The U.S. is still waiting to hear from China about whether its offer to send experts in virology, drug development and epidemiology as part of a team from the World Health Organization will be accepted, Health and Human Services Secretary Alex Azar said at the briefing.U.S. Ready to Aid China, Others (2:30 p.m. NY)The U.S. is prepared to spend as much as $100 million to help China and other nations fighting the spread of the coronavirus, Secretary of State Michael Pompeo said Friday. The U.S. this week helped ship to China 17.8 tons of donated supplies, such as masks, gowns, gauze, respirators and other materials this week, he said in a statement.The financial assistance to foreign government is direct and through multilateral organizations, the Sate Department said.Coronavirus Spreads Inside Wuhan Hospital, Study Finds (1:23 p.m.)A Chinese hospital taking care of patients with the novel coronavirus saw the infection spread at high rates among health-care staff and other patients, according to a study of cases at a Wuhan hospital.The report, published in the Journal of the American Medical Association, looked at 138 patients from the Zhongnan Hospital of Wuhan University who had the coronavirus and developed pneumonia, which can be a sign that the infection has grown more severe.Many of the pneumonia cases were in workers and other patients at the hospital: Transmission within the hospital was responsible for about 41% of cases, including 40 health professionals and 17 other patients.Among the group of 138 patients, 26% required intensive care and 4.3% died, higher than other, broader estimates of fatality from the virus. Just 47 patients, or about one-third of the total, have been discharged.New Jersey Lets Cruise Ship Passengers Disembark (12:40 p.m. NY)Royal Caribbean Cruises Ltd. passengers aboard the New Jersey-docked Anthem of the Seas were cleared to disembark Friday after more than two dozen were screened for coronavirus, the first such cruise scare on America’s shores.Four passengers have been transferred to an area hospital for review and tests are pending, according to the company. Other passengers are free to go, and the ship had been permitted to depart.China Puts Two Officials in Charge of Outbreak (12:03 p.m. NY)China has assigned two new officials to be in direct control of the efforts to manage the coronavirus outbreak in Hubei province.Chen Yixin, who was previously the top Communist Party secretary in the capital of Hubei, will be the the deputy head of the central government’s directing group on Hubei, according to a WeChat blog affiliated with state media. The group is in charge of sorting out the epidemic in the province and is led by Vice Premier Sun Chunlan.Wang Hesheng, who is the deputy head of China’s National Health Commission, will become a member of Hubei’s standing committee, which is the top decision-making body for the province, according to the blog Taoran Notes, which is connected to the Economic Daily Newspaper.Medical Workers’ Protective Equipment Runs Short (11:35 a.m. NYMedical workers’ protective equipment is running short and there’s evidence of price inflation as concern about coronavirus spreads, World Health Organization officials said in Geneva.Prices for some pieces of protective equipment used by medical staff have risen 20-fold, WHO Director-General Tedros Adhanom Ghebreyesus said in a briefing with reporters. Demand for equipment is 100 times normal, he said.The outbreak has sharply increased usage of equipment such as masks and gowns that health workers use to protect themselves from infection. Global front-line health workers need about 7% to 10% of market capacity to respond to the outbreak, Tedros said.Fed Warns of Potential Effects on Growth (11:10 a.m. NY)The Federal Reserve Board said that the coronavirus outbreak presented a “new risk” to the economic outlook for the U.S. and warned of disruptions in global markets.“Because of the size of the Chinese economy, significant distress in China could spill over to U.S. and global markets through a retrenchment of risk appetite, U.S. dollar appreciation, and declines in trade and commodity prices,” the U.S. central bank wrote in its semi-annual report to Congress released on Friday in Washington. “The effects of the coronavirus in China have presented a new risk to the outlook.”Read the full story here.CDC Screens Cruise Passengers in New Jersey (10:10 a.m. NY)New Jersey Governor Phil Murphy said CDC officials boarded a cruise ship docked in Bayonne Friday morning and screened 27 passengers who recently traveled from China.“After being assessed by the CDC, 23 of those passengers were cleared and four individuals are being evaluated at an area hospital,” Murphy said in a statement. “The hospital is following proper infection control protocols while evaluating these individuals. New Jersey currently has no confirmed cases of novel coronavirus and the risk to residents remains low”Royal Caribbean Shares Tumble (8:39 a.m. NY)Shares of the cruise ship operator fell in pre-market U.S. trading. Some passengers -- all Chinese nationals -- on the company’s Anthem of the Seas, which docked in Bayonne, New Jersey, on Friday morning, have shown signs of respiratory illness, website NJ.com reported.Shenzhen Asks Drivers to Register Before Entering (7:56 a.m. NY)China’s tech hub of Shenzhen will require that drivers register online before they enter, effective Feb. 8, according to the city’s official WeChat account.Canada Goose Cuts Forecasts (7:02 a.m. NY)Canada Goose Holdings Inc. tumbled in early trading after the company said the coronavirus is “having a material negative impact” and cut its full-year forecast for sales and profit.“Retail stores and e-commerce across Greater China have and continue to experience significant reductions in revenue,” the company said. “Due to global travel disruptions, retail stores in international shopping destinations in North America and Europe are also affected.”Separately, VF Corp said about 60% of owned and partner stores in China have been temporarily closed.Researchers Defend Findings of Symptom-Free Coronavirus Spread (6:52 a.m. NY)Researchers stood behind their finding that a woman wasn’t feeling ill at the time she set off a cluster of coronavirus cases in Germany last month, adding fuel to a debate over how the disease spreads. Their response counters a statement from German health officials earlier this week that the Chinese woman was in fact experiencing symptoms.Ericsson Pulls Out of Biggest Mobile Industry Event (6:33 a.m. NY)Ericsson AB withdrew from the telecommunications industry’s biggest annual event, MWC Barcelona 2020, to protect its staff and visitors from the coronavirus. Nokia Oyj, Ericsson’s Finnish rival, said it’s monitoring the situation closely and as of now is still planning to attend the event, “but the situation is fluid.” The organizers said the event will proceed as planned on Feb. 24 to Feb. 27.South Korea’s LG Electronics Inc. has also announced plans to withdraw from exhibiting at the conference. China-based ZTE Corp. will send a delegation, but has canceled its press conference.Most Firms See Virus Impacting Revenue: Survey (6:11 a.m. NY)A survey of 127 companies showed 87% expect revenue to drop because of the coronavirus, AmCham Shanghai says. The survey was conducted between Feb. 4 and Feb. 6.Number of New Cases Reported in China Declines (6 a.m. NY)The number of new cases reported in China declined for a second day, WHO Director-General Tedros Adhanom Ghebreyesus said at a technical briefing with health representatives in Geneva. “It’s good news, but we caution against reading too much into this,” he said. China reported 3,696 new cases, according to the WHO tally as of late yesterday.There’s a global shortage of protective clothing, Tedros also said. The WHO plans to hold a call with suppliers for pandemic equipment to discuss remedies and how to distribute material fairlyTrump Says U.S. Working ‘Closely’ With China (6:39 p.m. HK)The U.S. is working “closely” with China to help with responding to the coronavirus, President Donald Trump said in a series of tweets, in which he also praised China’s leader Xi Jinping for “strongly” leading the country’s response to the threat. Trump said he’d had a “long and very good conversation” with Xi by phone and that his counterpart’s response is “strong, sharp and powerfully focused.“Foxconn Warns Staff to Keep Away From Shenzhen Base (6:34 p.m. HK)The company told employees at its Shenzhen facility not to return to work when the extended Lunar New Year break ends Feb. 10, according to a memo obtained by Bloomberg. Foxconn’s main iPhone-making base is farther north in Zhengzhou but coastal Shenzhen serves as its Chinese headquarters. The company also assembles a small portion of iPhones there.China LNG Force Majeure Rejected (6:29 p.m. HK)Two of Europe’s biggest energy companies rejected a Chinese force majeure on liquefied natural gas contracts. Royal Dutch Shell Plc and Total SA didn’t accept the legal grounds for the move by China National Offshore Oil Corp. that would have freed it from its contractual obligations to take delivery of the shipments.Samsung Vietnam Sees Virus-Tied Production Problems (6:26 p.m. HK)Samsung Vietnam’s production will face difficulties because major components including batteries and LCD screens are imported mostly from China, the news website of Vietnam’s Ministry of Trade reported.China’s Refiners Process 15% Less Crude (6:02 p.m. HK)Oil refineries across China have cut the amount of crude they’re turning into fuels by around 15%, and could deepen those reductions in the coming weeks. State-owned and private plants have pared back refining by at least 2 million barrels a day over the last week, said people with knowledge of operations at the nation’s largest complexes.Thai Minister Sorry For Threatening Tourists Without Masks (6 p.m. HK)Thai Health Minister Anutin Charnvirakul apologized after saying that foreigners should be “kicked out of Thailand” for refusing to wear face masks. Tourism comprises about one fifth of the Thai economy, and has faced a slowdown after the novel coronavirus prompted an 80% drop in Chinese visitors, the largest market.Hong Kong Airport to Segregate China Flights: SCMP (5:52 p.m. HK)Planes coming from and going to mainland China will depart and arrive at remote parking stands as Hong Kong’s airport adopts stricter quarantine measures to contain the outbreak, the South China Morning Post reported, citing unidentified people.Citizen Journalist Covering Virus Missing in China (5:36 p.m. HK)Chinese citizen journalists Chen Qiushi and Fang Bin have served as the world’s eyes and ears in the city of Wuhan. Now one of them is missing.Chen has been out of reach for more than 20 hours. Fang, who was silent much of Friday until a video posted in the evening, was previously detained briefly by authorities for his video of corpses in a hospital.China Urges Employees, Clients to Scour World for Masks (5:35 p.m. HK)As the virus triggers shortages of medical supplies in China, businesses are urging employees and their clients to bring back face masks from overseas. Meanwhile, alcohol and ethanol makers including Tsingtao Brewery Co. are shifting to produce disinfectant to help ease a shortage in medical grade alcohol, with an industry association urging others to follow suit.Singapore Raises Alert Level (5:27 p.m. HK)Singapore raised its national disease response level to Orange, its second-highest level and the same one used during the SARS epidemic, the Ministry of Health said.The Orange designation means the nature of disease “is severe and spreads easily from person to person,” but “has not spread widely in Singapore and is being contained,” according to the Disease Outbreak Response System Condition color-coded framework.Singapore Examining Residents in Event-Linked Cases (3:17 p.m. HK)Singapore is investigating four residents who last month went to the Grand Hyatt hotel for a private business meeting that’s been linked to several overseas cases of coronavirus.One of two new cases of the virus is a 27 year-old male Singaporean citizen with no recent travel history to China, according to the Ministry of Health on Thursday evening. He is one of the four people included in the probe at the National Center for Infectious Diseases after he attended the meeting at the hotel from Jan. 20 to Jan. 22.Burberry Abandons Forecast as Virus Hits China Sales (3:01 p.m. HK)Burberry Group Plc scrapped its financial guidance for the year, warning that the coronavirus epidemic has wiped out three-quarters or more of sales at stores in China. The British fashion house said it has closed 24 of its 64 shops on the mainland. Over the past two weeks, sales at mainland stores that remain open have declined 70% to 80%, Chief Financial Officer Julie Brown said.It’s one of the most dramatic illustrations so far of the effects of the virus on global brands, with the luxury-goods industry particularly exposed. Cosmetics companies L’Oreal SA and Estee Lauder Cos. said Thursday that they expect temporary setbacks in China.Toyota, Honda Extend China Shutdowns (1:27 p.m. HK)Toyota Motor Corp. and Honda Motor Co. were among carmakers extending shutdowns at their China plants as the country steps up measures to fight the deadly coronavirus.Toyota, which initially halted its Chinese plants until Feb. 9, said it now plans to resume production as soon as Feb. 17. Honda said it will reopen its factory on Feb. 14 with an eye toward restarting output during the week of Feb. 17.Australia to Quarantine Evacuees in Outback Camp (12:06 p.m. HK)Australia said it’s preparing a former resources industry workers’ camp in the Outback to quarantine evacuees from coronavirus-stricken Wuhan.Australia has quarantined the first wave of citizens returning from Wuhan at the Christmas Island asylum-seeker detention center, about 1,200 miles from the mainland.Japan Finds 41 More Cases on Cruise Ship (9:12 a.m. HK)Japan’s Health Ministry found an additional 41 cases of the novel coronavirus on a cruise ship quarantined off Yokohama, a sharp increase from the 20 cases previously discloses.Of the 273 on the cruise ship tested, a total of 61 have tested positive, with one patient in serious condition. Japan is looking to expand its testing for infections among the some 3,700 passengers and crew, Health Minister Katsunobu Kato told reporters Friday.Hubei Facing Hospital Staffing Shortage (8:28 a.m. HK)Hubei, the province under siege from the epidemic, is struggling to keep up with more than 22,000 confirmed coronavirus cases. Hubei is still facing a shortage of about 2,250 doctors and nurses, the vice governor of Hubei, Yang Yunyan, was cited as saying in the official Hubei Daily on Thursday. That comes even as the central government had sent in 10,596 medical professionals to help fight the epidemic as of Feb. 5. Yang said retired doctors and nurses should be encouraged to return to work.China’s Death Toll Climbs to 636 (8:11 a.m. HK)China’s death toll from the coronavirus rose to 636 as of Feb. 6, according to the National Health Commission. The number of confirmed cases on the mainland climbed by more than 3,000 to 31,161.Hubei province, the center of the coronavirus outbreak, reported 69 additional deaths. Hubei accounts for 618 of the fatalities in China. Total confirmed cases in Hubei are at 22,112.Outside of mainland China, Hong Kong has reported one death, while the Philippines had a fatality last week.Wynn Resorts Losing $2.5 Million a Day in Macau (7:11 a.m. HK)Wynn Resorts Ltd. is losing about $2.5 million a day in Macau after the Chinese government ordered casinos there closed to deter the spread of the deadly coronavirus.The company employs about 12,200 people in the region. Although the casinos were ordered closed for a 15-day period that started Feb. 5, Wynn Chief Executive Officer Matt Maddox said Thursday it was too early to predict when they would reopen.Chinese Doctor Has Died, Hospital Says (3 p.m. NY)Li Wenliang, the Chinese doctor who was one of the first to warn about the coronavirus in Wuhan, has died, according to the hospital where he worked.The doctor’s status had been subject to hours of confusion after earlier reports of his death on Chinese social media were deleted and replaced by messages saying he was being treated.“Li Wenliang, an ophthalmologist at our hospital had unfortunately been infected when he worked on fighting against the coronavirus outbreak,” Wuhan Central Hospital said in a post on the Chinese social platform Weibo.The hospital said he died at 2:58 a.m. in China “after all efforts to save him failed.”Li was in his 30s, according to a report by the Chinese media outlet Caixin.\--With assistance from Christopher Palmeri, Charlie Zhu, Kari Lindberg, Will Davies, K. Oanh Ha, Iain Marlow, Yoshiaki Nohara, John Harney, Eric Pfanner, Derek Wallbank, Philip J. Heijmans, Melissa Cheok, Thomas Mulier, Stacie Sherman and Albertina Torsoli.To contact Bloomberg News staff for this story: Michelle Fay Cortez in Minneapolis at email@example.com;Isabel Reynolds in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Adveith Nair at email@example.com, Kenneth Wong, Mark SchoifetFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
CFRA downgraded three casino stocks on Friday, citing concerns about the impact on their China and Macau operations from the coronavirus that has sickened thousands of people, mostly in China. Analyst Tuna Amobi downgraded MGM Resorts International to sell from hold, downgraded Wynn Resorts to strong sell from hold and downgraded Las Vegas Sands Corp. to sell from buy. For MGM, "through its majority stake (56%-owned) in MGM China, we note the company's meaningful exposure in Macau, where all casinos have remained closed in the past few days amid ongoing Chinese government actions related to the outbreak, with a seemingly uncertain timing for a potential return to normalcy (after the initial 15-day official shutdown)," Amobi write in a note to clients. "MGM could incur meaningful expenses during the temporary closure, with an unlikely insurance mitigation for business interruption." In the meantime, attendance and visitation in Macau is understood to have fallen sharply since the outbreak of the virus at the end of 2019, and gross gaming revenue fell 11% in January for a fourth consecutive monthly decline, according to Chinese data, Amobi wrote in all three notes. The analyst cut his stock price target on Las Vegas Sands to $62 from $70. He lowered his Wynn target to $115 from $135 and left his MGM target unchanged at $30. MGM shares were down 2% Friday and have fallen 4.4% in the year so far, while the S&P 500 has gained 3.3%. Wynn shares were down 3.2% and Las Vegas Sands was down 2.8%.