42.65 -0.05 (-0.12%)
After hours: 5:44PM EDT
Commodity Channel Index
|Bid||42.80 x 1000|
|Ask||42.87 x 800|
|Day's Range||42.18 - 44.75|
|52 Week Range||33.30 - 74.29|
|Beta (5Y Monthly)||1.71|
|PE Ratio (TTM)||12.20|
|Earnings Date||Apr 14, 2020 - Apr 19, 2020|
|Forward Dividend & Yield||3.16 (7.76%)|
|Ex-Dividend Date||Mar 16, 2020|
|1y Target Est||69.06|
Yahoo Finance’s Zack Guzman joins Seana Smith on The Final Round to discuss how casinos are faring as the coronavirus outbreak continues to spread.
The sports gambling market has taken off in recent years after the Supreme Court allowed all U.S states to legalize it if they choose. On Friday, Michigan announced online sports betting will begin next week, in time for the March Madness tournament. MGM Resorts Interactive Gaming President Scott Butera joins On the Move to discuss the company's new BetMGM Sports betting experiences in Las Vegas.
The coronavirus (COVID-19) outbreak has dragged down stock prices across the board, and media and entertainment stocks are no exception. While some media and entertainment businesses have ground to a complete halt due to the economic shutdown, others are thriving from a surge in at-home business.CFRA recently assessed the media and entertainment landscape in the wake of the COVID-19 outbreak, and analysts updated their takes on some popular stocks in the group. CFRA said companies that rely heavily on public gatherings and carry the most debt are most at risk, while others should have no problem navigating the current environment.Here are seven media and entertainment stocks to buy, sell and hold, according to CFRA.Comcast Corporation (NASDAQ: CMCSA) - Buy Analyst Tuna Amobi said Comcast is one of the rare winners from the COVID-19 outbreak given its cable and satellite business is likely getting a huge boost from Americans stuck in their homes. Comcast also has a relatively high A- S&P credit rating, suggesting its balance sheet is healthy.Comcast's Universal Studios postponed the release date of its upcoming "Fast and Furious" movie for another year, and the movie studio business could take a hit. However, Amobi says Comcast should make it through the shutdown just fine in the long term.CFRA has a Strong Buy rating and $54 price target for CMCSA stock.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Walt Disney Co (NYSE: DIS) - Buy Segments of Disney's businesses, including its theme parks, movie studios and cruise lines, are certainly getting hammered by the economic shutdown. However, large-scale home confinement could be a major boost for Disney+, which launched back in November.Streaming video is one of the few remaining sources of entertainment for many Americans who might not have otherwise tried out Disney+. Amobi says COVID-19 is a net positive for Disney in that respect, and new Disney CEO Robert Chapek should bring some desirable skills to the table as Disney works to update its business model.CFRA has a Buy rating and $160 price target for DIS stock.AMC Entertainment Holdings Inc (NYSE: AMC) - Buy AMC shares are down more than 71% year-to-date and are trading at around $2 after COVID-19 completely shut down the movie theater business. It looks like AMC won't be opening up its theater doors until the end of April at the earliest. While the company's near-term outlook is dicey at best, Amobi said the stock is a compelling value at current levels. Prior to the outbreak, CFRA was projecting a 2.5% revenue decline in 2020 followed by a 1.3% gain in 2021.CFRA has a Buy rating and $8 price target for AMC stock.Live Nation Entertainment, Inc. (NYSE: LYV) - Buy Prior to the COVID-19 shutdown, live entertainment ticketing company Live Nation was firing on all cylinders. There's no reason why the company can't eventually return to that level, but investors may need to be patient.It may be June or later before large events and shows are back on the calendar, and it may take many more months for customers to be financially able and willing to gather in large numbers without fear of infection. Investors must hope the broad self-isolation will make stir-crazy Americans desperate to get out of the house and go back to normal social events at the earliest possible opportunity.CFRA has a Buy rating and $65 price target for LYV stock.Madison Square Garden Co (NYSE: MSG) - Hold Like AMC, all of Madison Square Garden's events are on hold until at least the end of the month. However, the company recently announced a $400 million sale of the LA Forum to Los Angeles Clippers owner Steve Ballmer. The valuation of the deal and the cash infusion is reassuring to MSG investors and should help boost the company's liquidity as it navigates the COVID-19 shutdown.In the long term, the New York Knicks, New York Rangers and Madison Square Garden Arena are all extremely valuable and productive New York City assets that should continue to create value for investors. However, investors may want to stay on the sidelines for now given none of these assets are generating cash flow at the moment.CFRA has a Hold rating and $325 price target for MSG stock.Royal Caribbean Cruises Ltd (NYSE: RCL) - Sell Few stocks may have their businesses permanently impacted by the coronavirus outbreak, but cruise lines may be one.A disproportionately large percentage of Royal Caribbean's customers are retirees, the age demographic that is most at-risk from COVID-19. Even once travel bans are lifted, airlines will likely see their business return much sooner than cruise lines given there are plenty of reasons to fly other than vacations. Slumping demand in the near-term could trigger extreme pricing discounts, which could eat into margins and cash flow.CFRA has a Sell rating and $100 price target for RCL stock.See Also: 8 Best Investment Strategies During A RecessionLas Vegas Sands Corp. (NYSE: LVS) - Sell Not only are all of Las Vegas Sands' U.S. casinos shut down indefinitely, the company has a heavy debt load that could start to come into play as the crisis drags on. Las Vegas Sands barely survived the 2008 financial crisis thanks to its debt, which now stands at $12.5 billion.Las Vegas Sands currently pays an 8.4% dividend, but a dividend cut could be the company's first line of defense against financial hardship. Casinos in Macau, China are back up and running after a COVID-19 shutdown, but Macau gross gaming revenue plummeted nearly 80% in the month of March.CFRA has a Sell rating and $62 price target for LVS stock.Latest Ratings for DIS DateFirmActionFromTo Apr 2020Atlantic EquitiesUpgradesNeutralOverweight Apr 2020Guggenheim SecuritiesDowngradesBuyNeutral Apr 2020Imperial CapitalMaintainsIn-Line View More Analyst Ratings for DIS View the Latest Analyst RatingsSee more from Benzinga * With Live Sports On Hold, ESPN And Fox Load Up On Pro Wrestling * 9 Beaten-Down Travel Stocks To Buy, Sell And Hold * BofA Slashes Casino Price Targets, Sees Buying Opportunities(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Gambling activities worldwide are affected by coronavirus-induced restrictions. Shares of the companies in the industry have fallen since mid-January, while earnings expectations have been lowered.
The vast, glitzy gaming halls of Macau are open, but thousands of baccarat tables are empty. In Las Vegas, the casinos have been forced to close in order to prevent the spread of the disease. The same has happened in Australia, South Korea, the Philippines and Cambodia.
The COVID-19 pandemic has been rather disruptive for many companies operating in the hospitality, travel and tourism sectors, including casino operators like Wynn Resorts (NASDAQ:WYNN). On March 18, WYNN stock hit a 52-week low of $35.84. Now the price is hovering around $57.Source: Wangkun Jia / Shutterstock.com Has Wynn stock seen the bottom in March? There are no easy answers to this question. Although it may look like the price cannot get much lower than this, our economy is going through an uncertain period right now."The harder question is will investors increase their investments in this present uncertain economic environment due primarily to the coronavirus pandemic. Investment changes are more volatile than changes in the growth of an economy (changes in GDP)," said Dr. Albert Williams, professor of finance and economics at the H. Wayne Huizenga College of Business and Entrepreneurship Nova Southeastern University.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"In summary, increased consumer spending and investments in the near future is not clear," he continued. "People are all very concerned with this major pandemic and hence only necessary spending will take place. This will impact luxury expenses, including vacations." * 30 Stocks on a Deathwatch So let's take a closer look at why investors may still want to exercise caution before investing in casino shares in April. WYNN Stock and the PandemicThe group owns and operates a portfolio of casinos, including Wynn Las Vegas, Encore Boston Harbor, Wynn Macau, and Wynn Palace, Cotai.In order to get a better appreciation of how Wynn's operations in the U.S. may be affected, let's take a look at what happened in their overseas operations first.Earlier in February, Macau authorities had closed all casinos for several weeks. Macau is currently the only jurisdiction where it is legal to gamble in China. During the closure in February "gross gambling revenues fell nearly 90%."Although Macau casinos are now open, business has not yet picked up. There are still various travel restrictions. And customers are likely to avoid crowded areas for some time to come.Wynn Macau which is traded on the Hong Kong Stock Exchange has recently released its annual report for FY 2019. Management said "the Coronavirus outbreak has had and will have an adverse effect on our results of operations. Given the uncertainty … we cannot reasonably estimate the impact on our future results of operations, cash flows, or financial condition."The group also highlighted that during the closure, it was losing more than $2 million a day.Although various reports indicate that the outbreak might have already peaked in China, at this point coronavirus fears are still quite high in the U.S.Casinos are crowded venues. To slow the spread of coronavirus, Wynn management also announced closures stateside.On March 14, "[I]n consultation with the Massachusetts Gaming Commission, Encore Boston Harbor … announced that it will be closed to the public for two weeks."Then the next day the group "decided to temporarily close Wynn Las Vegas and Encore as part of its continuing effort to reduce the spread of COVID-19."It also promised to pay employees during the crisis.And finally last week, CEO Matt Maddox announced that company executives and board members would take stock in place of salary through 2020. Will Wynn Resorts Ask for Government Help?Understandably the pandemic is not only affecting citizens' wellbeing but also hurting global economies. On March 27, President Trump signed the legislation, called the CARES Act, that will provide over $2 trillion in stimulus to the U.S. economy.Earlier in March, gaming industry had joined airlines and various other groups in asking for government financial help. As the details of the bill have become public, it is clear that businesses that receive aid will not be able to pay dividends or buy back their own shares.Las Vegas Sands Corp. (NYSE:LVS), another casino developer and operator, has indicated that it will not apply for government assistance. However, Wynn Resorts has not yet made a public comment.It may still be too soon to say how most casino operators will deal with the given uncertainty in the coming months. If a global recession is already here, then the worst may not necessarily yet be behind for Wynn stock.If these businesses decide to apply for government help after all, then they'd also need to stop their dividend payments as well as share buybacks.Wynn stock's current dividend yield is about 5%, a highly attractive amount to collect under normal circumstances. But management may have to decrease or fully cancel the dividend during the year.In such a case, the beaten-down WYNN shares may not be able to deliver robust returns in 2020. However, on a more optimistic note, J.P. Morgan analyst Joe Greff believes WYNN stock is undervalued. What To Expect From Q1 EarningsWynn stock is expected to release Q1 earnings in early May.When it reported Q4 and year end 2019 results in February, investors were not impressed. Both revenue and earnings missed estimates.Revenue came at $1.65 billion, a decline of 2.0%, or $34.1 million, from $1.69 billion for the fourth quarter of 2018. Management blamed the decrease on the poor performance by Wynn Palace, Wynn Macau and Las Vegas operations.The group also announced an adjusted loss of 62 cents per share. A year ago in Q4, it had reported adjusted earnings per share of 95 cents. The gaming operator said that the bottom line was especially hurt by operating loss at Encore Boston Harbor as well as declines in operating income in Macau and Las Vegas operations.In several weeks, expected Q1 numbers will no doubt show that Wynn's business is being negatively affected by these difficult times. However, it's not yet quite possible to know the extent of the damage on company earnings.Therefore, if you're not yet a shareholder, you may want to wait before committing any capital into WYNN stock.It may be several quarters before Wynn management builds the business back up. In the meantime, unfortunately for current investors, the share price could come under further pressure. Investor Takeaway on Wynn StockIn general, investors regard casino shares as robust businesses to own. After all, the house always wins over the long term, however, the health and economic effects of the novel coronavirus seem to be beating the house at this point.Therefore, I still find it too risky and early to own shares of casino operators, such as WYNN stock, in a long-term portfolio. But if you've some spare risk capital, then you may consider taking a gamble on these stocks.Things for the average citizen and the economy will eventually improve later in the year. Yet I believe there might be better ways to play a potential rebound in our economy.Tezcan Gecgil has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation. As of this writing, she did not hold a position in any of the aforementioned securities. More From InvestorPlace * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * This Stock Picker's Latest Video Just Went Viral * The 1 Stock All Retirees Must Own The post Long-Term Investors Should Stay Away From WYNN Stock appeared first on InvestorPlace.
Las Vegas Sands (NYSE: LVS) today announced it will donate two million medical masks and 20,000 protective suits to help health-care professionals, first responders and nonprofit organizations in the fight against the coronavirus pandemic.
Stocks extended their gains for the third day in a row Thursday, marking a refreshing change in character for shellshocked investors. Many of the worst-performing industries have seen their constituent's shares come rip-roaring back -- airlines, cruise lines, casino stocks, home builders, restaurants -- you name it.But I suspect the easy part of the oversold bounce is over. While it's possible we continue to melt higher; many equities are pushing into potential resistance zones that are bound to put up a fight. Plus, with their heavy losses now lightened, investors are one scary headline away from heading for the exit door. And that could spark the next descent.Though we could pick any number of potential sectors to sell, we're focusing on casino stocks. They're on the wrong side of the social distancing trend and remain vulnerable to more downside.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks to Buy That Will Benefit From Coronavirus Mayhem Let's build three bear trades to profit. 3 Casino Stocks to Sell: Wynn Resorts (WYNN)Source: The thinkorswim® platform from TD Ameritrade Wynn Resorts (NASDAQ:WYNN) has doubled off the lows and its chart still looks bearish. Buyers do deserve some credit, though. Volume during the ascent was massive and supports the argument that the March 18 low of $35.84 could be the ultimate bottom of this bear market.WYNN stock fell as much as 77% from January's peak, so you could argue the market priced-in all of the bad juju surrounding the coronavirus. But here's the thing. With such a massive crash, there are bound to be aftershocks. Though possible, I'm betting against casino stocks recovering in a single bound. I think Wynn could probe lower again, even if it ultimately moves higher. And therein lies our opportunity.The Trade: Buy the May $60/$55 bear put spread for around $1.28.Consider taking profits on a push toward $60. Las Vegas Sands (LVS)Source: The thinkorswim® platform from TD Ameritrade The argument for fading the strength in Las Vegas Sands (NYSE:LVS) is identical. While not as robust, its rally off the lows of 59% carried shares directly into the descending 20-day moving average. The underside of an old support zone near $52 was tested Wednesday and Thursday and is now acting as resistance.The past two daily candles ended with topping tails. These long upper shadows suggest sharp intraday bearish reversals and confirm that sellers are gaining strength at these levels. A break below Thursday's low ($46.51) could signal the next descent has begun.The Trade: Buy the May $45/$40 bear put spread for around $1.75. MGM Resorts (MGM)Source: The thinkorswim® platform from TD Ameritrade MGM Resorts (NYSE:MGM) rounds out today's trio of casino stocks to sell. It shares the bearish characteristics mentioned above, but worse. From January's peak to last week's trough, MGM stock crashed 83%, which is insane. The market almost priced-in bankruptcy in a single downswing.After such a horrific slashing, MGM is going to need more than a 159% rebound to save the sinking ship. Investors should be encouraged by the huge accumulation candles seen over the past few trading sessions. But even if the bottom is in, MGM is likely to drop back to test buyers' resolve. I like teeing up bear positions for a quick trade.The Trade: Buy the April $13/$9 bear put spread for around $1.As of this writing, Tyler Craig didn't hold positions in any of the aforementioned securities. For a free trial to the best trading community on the planet and Tyler's current home, click here! More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 10 Stocks to Buy That Will Benefit From Coronavirus Mayhem * 5 Bank Stocks to Buy Now Because This Isn't 2008 Again * 12 Stocks to Buy That Are Already Positive The post 3 Casino Stocks You Shouldn't Roll the Dice On appeared first on InvestorPlace.
(Bloomberg) -- Sheldon Adelson, the politically connected founder of Las Vegas Sands Corp., made calls to contacts in Washington to spur passage of the $2 trillion stimulus bill, but won’t be seeking loans for his company.Adelson, one of the world’s richest men and largest contributors to Republican political campaigns, pushed to help small and midsize companies because he sees those businesses as the backbone of the economy, the company said Wednesday in a statement.He didn’t lobby for any particular version of the stimulus or for any gaming-industry provisions.“We have no plans to seek government loans,” the company said.Casinos are one of many distressed sectors that are expected to take advantage of the stimulus package, which is still working its way through Congress. Representatives of the industry, including MGM Resorts International’s then-Chief Executive Officer Jim Murren, met with President Donald Trump in the White House last week to lobby for aid.The most recent version of the bill bans stock buybacks and dividends, and curbs executive pay for companies that seek government loans.Sands said last week that while the company closed its two Las Vegas resorts, it was still paying employees and hadn’t cut staff.For 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.
For the gaming sector, investors are taking comfort that while U.S. casinos have been shut down, the operators have ample liquidity to last months and sometimes more than a year.
Casino stocks have been among the hardest hit during the COVID-19 market sell-off due to mandatory shutdowns around the country and heavy debt loads among leading operators.On Thursday, BofA Securities slashed its price targets for the casino group, but said there are buying opportunities among the carnage.The Analyst Shaun Kelley made the following adjustments to his casino stock coverage on Thursday: * Wynn Resorts, Limited (NASDAQ: WYNN), reiterated Buy rating, cut price target from $135 to $85. * Las Vegas Sands Corp. (NYSE: LVS), reiterated Buy rating, cut price target from $67 to $61. * Boyd Gaming Corporation (NYSE: BYD), reiterated Buy rating, cut price target from $38 to $22. * Penn National Gaming, Inc (NASDAQ: PENN), reiterated Buy rating, cut price target from $39 to $12. * MGM Resorts International (NYSE: MGM), reiterated Neutral rating, cut price target from $35 to $14. * Eldorado Resorts Inc (NASDAQ: ERI), reiterated Neutral rating, cut price target from $63 to $15. * Red Rock Resorts Inc (NASDAQ: RRR), reiterated Neutral rating, cut price target from $27 to $9.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.The Thesis Despite the near-term headwinds for casino stocks, Kelley said there are still themes he likes within the space.Kelley is bullish on U.S. gaming companies with exposure to the Macau market, such as Wynn. He's also bullish on Penn National as the highest-beta U.S. casino stock in the event of a recovery. Kelley names Boyd as the lowest-risk casino stock given its strong balance sheet. Finally, Kelley said gaming REITs, such as Gaming and Leisure Properties Inc (NASDAQ: GLPI) and VICI Properties Inc (NYSE: VICI), provide security for investors.Kelley said his new estimates and price targets for casino stocks are not based on shutdown-driven projections given he believes shutdowns are only temporary. Instead, they're based on updated 2021 recession-level earnings outlooks, which he said triggered the aggressive price target cuts."That said, our stocks are already pricing in significant liquidity concerns and we have long been aware of the financial/operational leverage in these companies," Kelley wrote in a note.Benzinga's Take Kelley said U.S. casino stocks with exposure to Macau are the "best positioned for a recovery" in the near-term. That makes sense given Macau casinos are back up and running already and is good news for Wynn and Las Vegas Sands in particular.Do you agree with this take? Email firstname.lastname@example.org with your thoughts.Related Links:Wynn, MGM Shut Vegas Casinos Due To Coronavirus; Other States Force Pause In Gaming Could Boeing Get Taken Over By The US Government?Latest Ratings for WYNN DateFirmActionFromTo Feb 2020Morgan StanleyMaintainsEqual-Weight Feb 2020B of A SecuritiesUpgradesNeutralBuy Jan 2020B of A SecuritiesDowngradesBuyNeutral View More Analyst Ratings for WYNN View the Latest Analyst Ratings See more from Benzinga * Wynn, MGM Shut Vegas Casinos Due To Coronavirus; Other States Force Pause In Gaming * BofA Upgrades Las Vegas Sands And Wynn, Says Coronavirus Cases 'Leveling Out' * BofA Downgrades Wynn Resorts On Wuhan Coronavirus Concerns(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Las Vegas Sands (NYSE: LVS) today announced that, out of an abundance of caution and in line with recent guidance from federal and state governments, it is closing its Venetian and Palazzo resorts in Las Vegas until at least April 1. A decision on whether to extend the closure or re-open will be made at a later date. The process of closing the properties will begin immediately and be completed as soon as possible.
It offered a list of stocks spanning all sectors that investors would want to own across a business cycle, despite potential near-term drawbacks.
Unfortunately for some shareholders, the Las Vegas Sands (NYSE:LVS) share price has dived 41% in the last thirty days...
Moody's Investors Service, ("Moody's") today placed the ratings of Las Vegas Sands Corp. ("LVSC") on review for downgrade, including its Baa3 senior unsecured rating. At the same time, Moody's placed the Baa2 senior unsecured rating of Sands China Ltd ("SCL"), a 70% owned subsidiary of LVSC, on review for downgrade.
As much of the nation goes on COVID-19 lockdown, even some casino companies thik staying open is too much of a gamble.Major Las Vegas casino operators Wynn Resorts, Limited (NASDAQ: WYNN) and MGM Resorts International (NYSE: MGM) have announced their Strip casinos will be closing due to the outbreak, while Las Vegas Sands Corp. (NYSE: LVS) has said its casinos will remain open for the time being.On Sunday, Wynn announced it's closing Wynn Las Vegas and Encore for two weeks starting on Tuesday at 6 p.m. MGM followed up by closing its Las Vegas properties until further notice starting at midnight.States And Cities Cracking Down Other areas of the country are shutting down all casino operations.The Michigan Gaming Control Board announced the MGM Grand, MotorCity Casino and Greektown Casino will all be shutting down. Maryland Gov. Larry Hogan announced all of the state's casinos, racetracks and off-track betting parlors are shutting down indefinitely to help combat the spread of COVID-19.Regulators in Massachusetts, Indiana, Illinois, and Rhode Island have also ordered all casinos to close for the time being.So far, Las Vegas Sands has said it's not closing its Las Vegas properties or considering laying off employees. Caesars Entertainment Corporation (NASDAQ: CZR) has also not shut down its Las Vegas casinos, but it has canceled all performances, spas, fitness centers and restaurants at its resorts.Price Action The shutdowns in the U.S. and Macau have hit casino stocks particularly hard in the past month. Here's a look at how these stocks were trading on Monday in response to the latest shutdowns: * Wynn was down 13.3%. * MGM was down 17%. * Las Vegas Sands was down 12.3%. * Caesars was down 21.5%.Benzinga's Take Assuming the coronavirus doesn't have any permanent impact on the gambling market, the casino closures and market sell-offs could provide an excellent long-term buying opportunity for investors. However, timing the bottom in casino stocks may be nearly impossible, especially if the closures extend beyond a couple of weeks.Do you agree with this take? Email email@example.com with your thoughts.Related LinksBofA Upgrades Las Vegas Sands And Wynn, Says Coronavirus Cases 'Leveling Out'After Worst Week Since 2008, What's Next For The Stock Market?See more from Benzinga * Q4 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios * BofA Upgrades Las Vegas Sands And Wynn, Says Coronavirus Cases 'Leveling Out' * BofA Downgrades Wynn Resorts On Wuhan Coronavirus Concerns(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga Pro's Stocks To Watch For Monday * SPDR S&P 500 ETF Trust (SPY) \- The ETF was down about 10% in pre-market action following Sunday-afternoon actions from the Federal Reserve. The US central bank, just two days ahead of a regularly-scheduled Federal Open Market Committee meeting, cut rates to 0%. The Fed also announced coordinated efforts with the ECB, Bank of Japan, Bank of Canada and the Swiss National Bank. The global active coronavirus case number was near 170,000 as of Monday morning. U.S. cases neared 4,000. Stock futures hit a limit-down circuit breaker earlier in Monday's pre-market session. The S&P level to watch for the first circuit breaker upon open at 9:30 a.m. EDT: 2,521.25. * American Air (AAL) \- Shares were down 20% with the broader stock market and followed a 7% move higher on Friday. The airline industry has been the industry hardest hit by the coronavirus outbreak; American shares were down 60% over the last one month. A Reuters report Monday morning suggested the company and its pilots agreed to terms for a coronavirus sick leave and pay protection package. * Zoom Video Communications (ZM) \- One of the few stocks to benefit from the massive coronavirus outbreak, shares were up about 6% over the last month but down about 4% with the broader markets Monday morning. Zoom is a provider of remote-access video meeting communications platform and is being viewed as a potentially beneficiary as small businesses and large corporations alike are encouraging their team members to work from home. * Las Vegas Sands (LVS) - MGM Resorts (MGM) announced over the weekend it would be closing 10 Vegas properties as of Mar. 17. The Sands competitor said casino operations would be closed as of Monday, with hotel operations to follow thereafter. The Vegas news did not stop a Jefferies analyst from upgrading shares of Las Vegas Sands to Buy. Las Vegas Sands shares were down 16% Monday morning. * FedEx (FDX) \- Will report Q3 results after the close Tuesday. A reminder that for the quarter the company will be reporting (ended Dec. 31, 2019), the impact of the coronavirus outbreak will not be seen as it was not yet happening on a global basis. See more from Benzinga * Benzinga Pro's Top 5 Stocks To Watch For Thurs., Mar. 5, 2020: ZM, MRVL, LUV, CODX, CANF * Benzinga Pro's Top 5 Stocks To Watch For Thurs., Feb. 13, 2020: FXI, TSLA, BABA, NIO, CAT * Benzinga Pro's Top 5 Stocks To Watch For Wed., Feb. 12, 2020: UBER, AKAM, WYNN, BBBY, TRIP(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Las Vegas giants Wynn Resorts and MGM are temporarily shutting down their Vegas properties to battle the coronavirus.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Las Vegas Sands Corp. (NYSE:LVS) stock is about to trade ex-dividend in 4 days time. You will need to purchase shares...