Latest news with #LasVegasSands
Yahoo
an hour ago
- Business
- Yahoo
MGM Resorts (MGM) Soars 7.27% as Macau Gaming Revenues Surge
MGM Resorts International (NYSE:MGM) is one of . MGM Resorts extended its winning streak to a third straight day on Tuesday, adding 7.27 percent to close at $36.89 apiece as investors cheered higher-than-expected gaming revenues in Macau. According to data released by Macau's Gaming Inspection and Coordination Bureau, gross gaming revenues (GGR) increased by 19 percent in June to 21.06 billion patacas ($2.6 billion), or a $417-million difference from the same period last year. Part of the surge was attributed to the series of concerts by Cantopop icon Jacky Cheung, which began in mid-June and will continue until early July. According to Macao Daily, GGR from June 15 to 22 alone reached an average of 685 million patacas per day. Aerial shot of an entertainment resort, its buildings and gaming amenities sprawling along the seafront. Following the news, shares of casino operators such as MGM Resorts International (NYSE:MGM), Las Vegas Sands (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN) all surged. While we acknowledge the potential of MGM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Business
- Yahoo
Las Vegas Sands (LVS) Soars 8.89% as Macau Gaming Raises Revenue Prospects
Las Vegas Sands Corp. (NYSE:LVS) is one of . Las Vegas Sands jumped by 8.89 percent on Tuesday to close at $47.38 apiece as investors scooped up shares following news that Macau's gaming revenues in June surged by 19 percent year-on-year. On Tuesday, the Gaming Inspection and Coordination Bureau of Macau said that gaming revenues last month increased by $417 million to close at 21.06 billion patacas or $2.6 billion. Part of the surge was attributed to the series of concerts by Cantopop icon Jacky Cheung, which began in mid-June and will continue until early July. According to Macao Daily, GGR from June 15 to 22 alone reached an average of 685 million patacas per day. The dazzling Las Vegas Strip lined with luxury Integrated Resorts, seen from a high elevation. Las Vegas Sands Corp. (NYSE:LVS) rallied alongside its counterparts, namely MGM Resorts International (NYSE:MGM) and Wynn Resorts Ltd. (NASDAQ:WYNN), on expectations that the higher GGR would reflect in their financial performances in the second quarter of the year. While we acknowledge the potential of LVS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
an hour ago
- Business
- Yahoo
Wynn Resorts (WYNN) Surges 8.8% on Macau Gaming Revenue Jump
Wynn Resorts Ltd. (NASDAQ:WYNN) is one of . Wynn Resorts saw its share prices surge by 8.85 percent on Tuesday to finish at $101.96 apiece as investor sentiment was fueled by the surge in Macau gaming revenues last month. During the session, Wynn Resorts Ltd. (NASDAQ:WYNN) rallied alongside its peers after the Gaming Inspection and Coordination Bureau of Macau reported a 19 percent or a $417-million increase in gross gaming revenues (GGR) in June, at 21.06 billion patacas ($2.6 billion) versus the same period last year. Part of the surge was attributed to the series of concerts by Cantopop icon Jacky Cheung, which began in mid-June and will continue until early July. According to Macao Daily, GGR from June 15 to 22 alone reached an average of 685 million patacas per day. Aerial view of a luxury hotel tower surrounded by lush green landscaping. The positive news spilled over to casino operators MGM Resorts International (NYSE:MGM) and Las Vegas Sands (NYSE:LVS) on optimism that the higher GGR would reflect in their financial performances in the second quarter of the year. While we acknowledge the potential of WYNN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
14 hours ago
- Business
- Time of India
US stock market futures edge higher as tech sector cools, Dow gains 93 points, investors eye Trump tax bill and key jobs data
US Stock futures inch higher after tech-led slump to start second half of 2025- Stock futures ticked up early Wednesday morning as investors cautiously stepped back into the market after a rough start to the second half of 2025. The tech sector, which had fueled much of the recent rally, took a backseat on Tuesday, prompting a shift in investor sentiment toward more defensive plays. How did the US stock market perform today, July 1? Wall Street started the second half of 2025 with a mixed tone. While the Dow Jones Industrial Average surged higher, the S&P 500 and Nasdaq Composite took a breather after recent gains, mainly dragged by weakness in tech stocks. Dow Jones: ▲ +0.9% to close at 44,494.94 , gaining around +400 points S&P 500: ▼ –0.1% to close near 6,198 Nasdaq Composite: ▼ –0.8% , reflecting tech sector underperformance The market action signaled a sector rotation, with investors trimming positions in big tech and reallocating funds to traditional industries such as casinos, autos, and consumer staples. Which stocks were the biggest gainers today? Several non-tech names stood out as top performers, benefiting from positive sector-specific news and bullish investor sentiment: Las Vegas Sands (LVS): ▲ +8.9% – Strong June gaming revenues from Macau boosted confidence in the casino sector. Wynn Resorts (WYNN): ▲ +8.8% – Followed LVS higher on Macau-driven momentum. General Motors (GM): ▲ +5.7% – Investors favored legacy automakers amid Tesla weakness. Ford (F): ▲ +4.6% – Continued rally in auto stocks despite EV sector cooling off. Target (TGT): ▲ +5.3% , closing at $103.85 – Outperformed retail peers with unusually high trading volume. Which stocks dropped the most on July 1? Tech stocks took a hit as investors reacted to geopolitical headlines, fiscal policy shifts, and valuation concerns: Live Events Tesla (TSLA): ▼ –5.3% , closing at $300.71 – Sixth straight loss, down ~38% from its 52-week high. The stock was pressured by political controversy and weak delivery expectations. Advanced Micro Devices (AMD): ▼ –4.1% – Part of the broader tech selloff. Palantir (PLTR): ▼ –4.1% – Profit-taking weighed on recent gains. DexCom (DXCM): ▼ –4.3% – Healthcare tech names followed the Nasdaq lower. Coinbase (COIN): ▼ –4.3% – Crypto-linked stocks declined as Bitcoin dipped below $60,000. Howmet Aerospace (HWM): ▼ –5.3% – Profit-booking after a strong June rally. Williams Companies (WMB): ▼ –6.5% – Slipped amid volatility in energy and utilities. Why did stock futures rise today despite Tuesday's tech sell-off? Stock futures pointed slightly higher after Tuesday's tech-led pullback. As of early Wednesday: Dow Jones Industrial Average futures gained 93 points, up about 0.2% S&P 500 futures rose 0.1% Nasdaq 100 futures hovered near the flatline This modest uptick came after the Dow jumped 400 points on Monday, but the S&P 500 slipped by 0.1% and the Nasdaq Composite fell 0.8% as traders rotated out of high-growth tech names. What happened to tech stocks that pushed markets lower? The tech sector — especially giants like Nvidia, Palantir, and Advanced Micro Devices (AMD) — led Tuesday's slide. The information technology sector within the S&P 500 dropped over 1%, matching the losses in communications services. This decline marked a notable pause in the momentum that had powered tech's resurgence in Q2. Investors turned instead to defensive sectors, with health care and materials seeing solid gains. Big names like Amgen, Johnson & Johnson, and UnitedHealth helped push the 30-stock Dow higher, offsetting losses in tech-heavy indexes. What's driving the stock market today? Several key forces influenced today's trading activity: Sector rotation: Investors pulled out of tech and rotated into industrials, autos, consumer staples, and casinos—industries with more predictable earnings and less valuation risk. Political headlines: Tesla came under pressure following reports linking Elon Musk to political meetings with President Trump, sparking concerns over public perception and future regulations. Energy policy shift: Solar and renewable energy stocks dropped after the U.S. Senate removed clean energy tax credits from the budget, weakening sentiment in the green energy space. Interest rate concerns: Strong June jobs data pushed Treasury yields higher , reigniting fears that the Federal Reserve might delay expected rate cuts. How are investors reacting to Trump's tax-and-spending bill? Markets are also closely watching developments in Washington. On Tuesday, President Donald Trump's tax-and-spending bill narrowly passed the Senate. The legislation now heads back to the House, where some GOP holdouts remain skeptical. Jose Rasco, Chief Investment Officer at HSBC Global Private Banking and Wealth Management Americas, told CNBC's Closing Bell: Overtime , 'We expect to see more volatility in fixed income, even once they get the bill passed, whatever that looks like. That's going to bleed over into the equity markets.' Still, Rasco expressed optimism for the longer term: 'Once these things get resolved and once the [Federal Reserve] gets back in gear, there's a lot of upside here.' Is the market worried about tariffs returning soon? Yes — another key issue on investors' radar is trade policy. President Trump's 90-day pause on his steepest tariffs is nearing its expiration next week. With no clear update on trade deals yet, traders are treading cautiously. The uncertainty surrounding tariff talks could impact sectors tied to international supply chains, such as manufacturing, automobiles, and technology. US stock market futures as of early Wednesday, July 2, 2025: Dow Jones futures : ~ 44,901, up ~76 points (+0.17%) Nasdaq 100 futures : ~ 22,695.5, up ~3.8 points (+0.02%) S&P 500 futures : ~ 6,257, up ~8.75 points (+0.14%) What's moving the futures today? Investor focus : Traders are closely watching U.S. trade developments ahead of the July 9 tariff deadline and are awaiting key labor market data, including Wednesday's ADP private payroll report and Thursday's non-farm payrolls. Tech cooldown : Stock futures saw limited gains as technology shares took a breather after leading a major rally in recent weeks across the Nasdaq and S&P 500. Policy headlines : The Senate has passed President Trump's tax-and-spending package, and market attention is now turning to upcoming remarks from the Federal Reserve and decisions on pending trade tariffs. What to watch for the rest of the week Event What to Track ADP Payrolls (Wed) Market expects about 120,000 new jobs in June Non-Farm Payrolls (Thu) A key labor market indicator ahead of the holiday Tariff Deadline (July 9) Risk looms if new tariffs are reinstated Fed Powell Remarks Potential insight on interest rate direction In short, US stock market futures are ticking higher as investors stay cautious yet optimistic, navigating economic data, trade news, and fiscal developments in a shortened holiday week. What's ahead on the economic calendar this week? Markets are bracing for some critical economic data this week, starting with the ADP private payrolls report, due Wednesday morning before the bell. Economists expect a gain of 120,000 jobs in June That's a sharp increase from May's modest 37,000 job additions But the real highlight will be Thursday's nonfarm payrolls report — the most significant labor market data of the month — especially in this holiday-shortened week. This jobs data will help shape expectations around the Federal Reserve's next policy move, especially as inflation remains sticky and growth projections remain mixed. What does all this mean for stock market investors? So far, this week has revealed a slight cooling in tech stock enthusiasm, paired with growing interest in more defensive sectors. While short-term volatility is likely as policy and economic data unfold, the longer-term outlook remains cautiously positive. With Trump's economic policies in flux, Fed policy uncertain, and jobs data in focus, investors are navigating through a period that demands flexibility and close attention to macro signals. Dow futures up 93 points, S&P 500 up 0.1%, Nasdaq flat Tech sector drops over 1%, dragging Nasdaq lower Health care and materials stocks gained, led by Amgen, J&J, and UnitedHealth Trump's tax-and-spending bill passed Senate, heads back to House ADP private payrolls expected to rise by 120,000 Nonfarm payrolls due Thursday will be closely watched Trump's tariff pause set to expire next week, adding uncertainty Stay tuned for more updates as markets react to policy developments and economic data throughout this pivotal first week of July. FAQs: Q1: Why are stock futures rising after tech stocks dropped? Because investors shifted from tech to safer sectors like health care and materials after a rough start to the quarter. Q2: What should traders watch after Trump's tax bill passed the Senate? Traders should watch the upcoming jobs data and tariff policy updates as market drivers.
Yahoo
14 hours ago
- Business
- Yahoo
Earnings Preview: What to Expect From Las Vegas Sands' Report
Valued at a market cap of $30.7 billion, Las Vegas Sands Corp. (LVS) owns, develops, and operates integrated resorts in Macao and Singapore. The Las Vegas, Nevada-based company's integrated resorts feature accommodations, gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants, and other amenities. It is expected to announce its fiscal Q2 earnings for 2025 on Wednesday, Jul. 23. Ahead of this event, analysts expect this resorts and casinos operator to report a profit of $0.55 per share, in-line with the year-ago quarter. The company has missed Wall Street's bottom-line estimates in each of the last four quarters. In Q1, LVS' EPS of $0.59 fell short of the forecasted figure by 1.7%. Is Palantir Stock a Buy, Sell, or Hold for July 2025? Is Archer Aviation Stock a Buy, Sell, or Hold for July 2025? Oklo Just Announced a New Nuclear Fuel Deal. Is OKLO Stock a Buy Here? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! For fiscal 2025, analysts expect LVS to report a profit of $2.44 per share, up 7.5% from $2.27 per share in fiscal 2024. Its EPS is expected to further grow 15.2% year-over-year to $2.81 in fiscal 2026. LVS has gained 10.5% over the past 52 weeks, underperforming both the S&P 500 Index's ($SPX) 13.2% return and the Consumer Discretionary Select Sector SPDR Fund's (XLY) 19.3% uptick over the same time frame. Despite delivering weaker-than-expected Q1 results on Apr. 23, shares of LVS surged 6.5% in the following trading session. Due to lower casino, rooms, and food and beverage revenues, the company's overall revenue declined 3.3% year-over-year to $2.9 billion and marginally missed the consensus estimates. Softened market growth in Macao in the current environment acted as a headwind. In contrast, Marina Bay Sands in Singapore continued to deliver outstanding financial and operating performance. On the earnings front, its adjusted EPS of $0.59, also fell 19.2% from the year-ago quarter, missing the analyst estimate by a penny. Wall Street analysts are moderately optimistic about LVS' stock, with a "Moderate Buy" rating overall. Among 14 analysts covering the stock, nine recommend "Strong Buy," and five suggest 'Hold.' The mean price target for LVS is $51.77, which indicates a 9.3% potential upside from the current levels. On the date of publication, Neharika Jain did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
