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☆ Top Wall Street analysts recommend these stocks for dividend-oriented investors
▼ + stars: | 2024-01-14 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

As investors confront uncertain markets in the short term, dividend paying stocks could offer some portfolio stability and income. Civitas ResourcesFirst, there is independent oil and natural gas producer Civitas Resources (CIVI). This payment included a base dividend of $0.50 per share and a variable dividend of $1.09 per share. (See Civitas Insider Trading Activity on TipRanks)Williams CompaniesWe move to another energy dividend stock – Williams Companies (WMB). Williams recently acquired a portfolio of natural gas storage assets from Hartree Partners LP's affiliate for $1.95 billion.

Persons: Eric Greager, Wall, Nitin Kumar, Kumar, TipRanks, Williams, Selman Akyol, Akyol, KIM, Kimco Realty's, Simon Yarmak Organizations: Civitas Resources, NYSE, Williams, Hartree Partners, U.S, TipRanks, Kimco, RPT Realty, Aid, Kimco Realty Locations: Denver, Civitas, U.S, Transco, Kimco

☆ There's a hidden crisis hurting mid-sized companies
▼ + stars: | 2024-01-10 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

Many large public companies successfully navigated the pandemic and ended up larger and wealthier. Marblegate Asset Management then compared these findings to public companies in the Russell 3000 index — the broadest measure of American public companies. The firm's analysis found that EBITDA fell over 24% for middle-market companies between 2019 and 2022, whereas EBITDA grew 18% at large public companies. EBITDA margins fell 25% during the time period for middle-market companies, while it only declined 2% for public companies. Whereas large public companies can charge more for increases in raw material and labor costs, middle-market companies on the whole struggled to pass on these costs to customers.

Persons: —, RapidRatings, amortization, EBITDA, Axios Organizations: Service, Business, Marblegate Asset Management, Marblegate, Management

☆ Why Broadcom is still a solid AI play following a murky quarter
▼ + stars: | 2023-12-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Nonfarm, Dow Jones, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Dow, Labor Department, West Texas, Club, Honeywell, Broadcom, Wall, VMware, AVGO

☆ Uber gets the nod to join the S&P 500. Here's where analysts see the stock going next
▼ + stars: | 2023-12-04 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analysts say Uber Technologies' forthcoming ticket into the S & P 500 is a positive catalyst for the stock moving forward. UBER YTD mountain Uber stock. Helfstein said in a report that Uber's entry into the S & P 500 could underpin future stock appreciation by bolstering investor sentiment. "Following the inclusion, we expect UBER to lean into growth and share buybacks, which should increase investor sentiment for growth/return in 2024," Helfstein wrote. "We believe that Uber will transition from 'nice to own' by investors to an 'allocation consideration' now that it is included in the S & P 500."

Persons: Dow, Oppenheimer, Jason Helfstein, Helfstein, William Blair, Ralph Schackart, James Cordwell, Cordwell, CNBC's Michael Bloom Organizations: Technologies, Dow Jones, Sealed Air Corp, –

☆ Top Wall Street analysts expect these dividend stocks to enhance total returns
▼ + stars: | 2023-12-03 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

Dividend-paying stocks give investors a combination of potential price appreciation and income, which can enhance total returns. Bearing that in mind, here are five attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. (See Sunoco Hedge Funds Trading Activity on TipRanks)VICI PropertiesOur next dividend stock is VICI Properties (VICI), a real estate investment trust. For the third quarter, the company declared a cash dividend of $0.415 per share, reflecting a 6.4% increase. For the third quarter, the company declared a cash dividend of $2.09 per share, payable on Dec. 14.

Persons: Mike Blake, Wall, Elvira Scotto, Scotto, TipRanks, Sunoco, VICI, Simon Yarmak, Yarmak, Christopher Horvers, Horvers Organizations: Reuters, Energy, Crestwood Equity Partners, RBC Capital, MGM, North American, JPMorgan, TipRanks, Walmart Locations: Encinitas , California, U.S, Crestwood, Vegas

☆ Here’s how activist Elliott could build shareholder value amicably at Phillips 66
▼ + stars: | 2023-12-02 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Business: Phillips 66 is an energy manufacturing and logistics company. Percentage Ownership: n/a Average Cost: n/a Activist Commentary: Elliott is a very successful and astute activist investor. On Wednesday, Elliott sent a letter to Phillips 66, announcing that it has taken a $1 billion stake and is seeking up to two board seats. While we do not generalize like that, it is hard to imagine a more amicable and constructive activist campaign than what Elliott is proposing at Phillips 66. When implemented, Phillips 66 saw costs increase relative to peers, burning shareholders' confidence in the management team's ability to achieve its goals.

Persons: Phillips, Elliott, Mark Lashier, Ken Squire Organizations: Phillips, Chevron Phillips Chemical, Valero Energy, Marathon Petroleum, Valero, 13D Locations: Chevron, U.S, Europe, COOs

Though aerospace and defense funds understandably haven't done well in this year's faltering market, some individual stocks have posted substantial gains. U.S. support in what's turning out to be a long war in Ukraine will likely push overall contractor spending higher, benefitting aerospace and defense companies. In this era of high-tech warfare, when strategic military engagement is more about digital systems and aerial weapons than boots on the ground, aerospace and defense companies are advantageously positioned. Lucrative products include fighter jets, helicopters, parts for them, avionics products, missile guidance system, drones and anti-drone technology and support services. Curtiss-Wright Corp (CW) Projected five-year annual earnings growth: Data was not available.

Persons: Lockheed Martin, Giuseppe Cacace, Northrup Grumman, Howmet's, Wright, Woodward, Gerald R, Ford Organizations: US Air Force, USAF, Lockheed, Maktoum International Airport, Afp, Getty, U.S, Publicly, General Dynamics, TransDigm, Inc, Parsons Corp, U.S . Department of Defense, Missile Defense Agency, State Department, Department of Homeland Security, Department of Energy, Federal Aviation Administration . Products, Aerospace, Curtiss, Wright Corp, CW, N.C . Products, Woodward Inc, Huntington Ingalls Industries, Coast Guard, Ford, Pentagon Locations: Dubai, Al, Maktoum, Ukraine, Israel, Gaza, what's, Virgina, Washington, Davidson, N.C, Fort Collins , Colorado

Even including the sale of Heathrow, this year is the slowest for airport transactions in the past decade, totalling $5.9 billion globally to date, according to Dealogic data. They have hired Mediobanca (MDBI.MI) and Credit Agricole (CAGR.PA) to find a buyer for a sale of their 49% stake in the company, the people said. Heathrow's sale valued the airport at 14.3 times EBITDA, according to JP Morgan analysis published on Wednesday. UK's Esken (ESKN.L), owner of regional Southend Airport, said in June it had started a process for the sale of the airport. On Thursday, Hungary's state-owned Corvinus and Vinci Airports notified the European Commission of a proposed joint takeover of Budapest's airport, according to a document posted on the EU website.

Persons: Andras Kranicz, GIP, Australia's Macquarie, Spain's, Ferrovial, Agata Lyznik, Mediobanca, Gianni, Origoni, Nico Torrisi, Morgan, UK's, France's Vinci, Vinci, Corvinus, Emma, Victoria Farr, Andres Gonzalez, Elisa Anzolin, Joanna Plucinska, Mathieu Rosemain, Anousha Sakoui, Elaine Hardcastle Organizations: LONDON, Heathrow, BNP, Global Infrastructure Partners, AGS Airports, Southampton, Australia's, International, ACI, Airports, Macquarie, Credit Agricole Assurance, 2i, Credit, SAC, Gatwick, Southend Airport, Global Infrastructure Fund, Vinci Airports, European Commission, EU, Thomson Locations: Edinburgh, Italy, FRANKFURT, Spanish, Europe, Aberdeen, Glasgow, Heathrow, France, Hungary's, Budapest's

Uber shares rose 5% in extended trading on Friday after the ride-hailing company was added to the S&P 500 Index, replacing Sealed Air Corp. A company's stock price often rises on news that it's joining the S&P 500 because fund managers who track the benchmark, which gets updated each quarter, have to acquire the shares. Uber shares debuted on the New York Stock Exchange in 2019, but the company was burning cash as it had to pay drivers enough money to stay competitive in a low-margin business. Uber has a market cap of about $118 billion, while the median market cap of companies in the S&P 500 is just over $31 billion. WATCH: Uber into the S&P 500

Persons: Dara Khosrowshahi, it's, Nelson, Chai, Uber, Lloyd Walmsley, You've Organizations: Uber, Sealed Air Corp, Companies, New York Stock Exchange, UBS Locations: Davos, Switzerland

(AP) — An attorney for the billionaire Haslam family called bribery allegations leveled by Warren Buffett's company a “wild invention” Thursday. The Haslam family — which includes Cleveland Browns owner Jimmy Haslam and former Tennessee governor Bill Haslam — accused Berkshire last month of trying to understate Pilot’s earnings this year by changing its accounting practices. A senior executive who had been promised a bonus revealed that to the current Pilot CEO, according to Berkshire. Haslam’s side promises have forced the company to investigate and interrogate many of the key employees it relies on today to operate the company,” Lavoie said. In addition to Pilot, Berkshire owns an eclectic assortment of other businesses including Geico insurance, BNSF railroad and several major utilities along with a number of smaller manufacturing and retail businesses.

Persons: Haslam, Warren Buffett's, Berkshire Hathaway, Jimmy Haslam, Bill Haslam —, ”, Anitha Reddy, Craig Lavoie, Berkshire, Jim Haslam — Jimmy, Bill Haslam’s, —, Lavoie, it's, Mr, Haslam’s, ” Lavoie, Buffett Organizations: Berkshire, Cleveland Browns, BNSF, Apple, American Express, Bank of America Locations: OMAHA, Neb, Berkshire, Tennessee, United States, Canada

If General Atlantic decided to sell its stake, a deal could now garner more interest from investors, the sources said. A deal could value the company, which assesses global oil prices and provides industry news, at north of 4 billion pounds ($5.08 billion), Reuters previously reported. Deliberations remain at an early stage and General Atlantic and Hg may decide not to proceed with a transaction, two of the people said. Argus Media, Hg and General Atlantic declined to comment. Hg bought half of General Atlantic's 50% stake in Argus in 2019, valuing the business at more than 2 billion pounds then.

Persons: Adrian Binks, Amy, Jo Crowley, Victoria Farr, Mark Porter Organizations: Argus Media, Reuters, Private, Investments, Atlantic, Atlantic's, Argus, Astorg, Thomson Locations: GIC, London, Argus, Frankfurt

☆ Elliott takes $1 billion stake in Phillips 66, seeks two board seats
▼ + stars: | 2023-11-29 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is seeking as many as two board seats in a push to improve the company's performance, according to a Wednesday letter from the activist investor. Elliott's push for the board seats comes as Phillips has underperformed its competitors Marathon Petroleum and Valero . Elliott backed CEO Mark Lashier's plan to improve the company's performance. The CEO plans to do this through a more than $1 billion improvement in Phillips' refining segment, selling $3 billion in noncore assets and increasing the company's long-term capital return policy. Elliott said Phillips 66's stock has an upside of 75% from its last closing price of $118 if the company executes on these goals.

Persons: Phillips, CNBC's David Faber, Elliott, John Pike, Mike Tomkins, Mark Lashier's Organizations: Elliott Investment Management, Phillips, Marathon Petroleum, Valero

The Haslams' lawyers and a representative for the family didn't immediately respond to requests for comment. A senior executive who had been promised a bonus revealed that to the current Pilot CEO, who Berkshire appointed after it took over, according to the filing. Berkshire initially bought 38.6% of Pilot back then for $2.758 billion before more than doubling that to 80% this year for an additional $8.2 billion. Pilot is the nation’s largest network of truck stops with more than 850 locations and roughly 30,000 employees in the United States and Canada. Berkshire said it's impossible to calculate how much Pilot's profits may have been inflated this year because of decisions executives who were promised bonuses made.

Persons: — Warren, Berkshire Hathaway, Haslam, Jimmy Haslam, Bill Haslam —, Berkshire, Jim Haslam — Jimmy, Bill Haslam's, —, Buffett Organizations: Cleveland Browns, Berkshire, BNSF, Apple, American Express, Bank of America Locations: OMAHA, Neb, Berkshire, Tennessee, Knoxville , Tennessee, United States, Canada

Kohl’s posted on Tuesday a bigger-than-expected decline in quarterly sales, as customers spent less at its department stores. Lowe's, the nation's second-largest home improvement chain behind Home Depot, also reported drops in both sales and profits. The consumer electronics retailer posted revenue of $9.76 billion in the period, falling short of Street forecasts. In the year-ago period, sales were $10.59 billion. Best Buy expects full-year earnings in the range of $6 to $6.30 per share, with revenue in the range of $43.1 billion to $43.7 billion.

Persons: Kohl’s, they're, Corie Barry, Barry, Anne Organizations: Federal, “, Zacks Investment Locations: Richfield , Minnesota

☆ Stocks making the biggest moves midday: Amazon, Medtronic, American Eagle, Lowe's, C3.ai and more
▼ + stars: | 2023-11-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Kohl's — Shares dropped more than 9% after the retailer reported weaker-than-expected revenues for the third quarter. American Eagle Outfitters — The apparel retailer sank 16% after its operating income guidance for the full year came in weaker than expected. C3.ai — Shares of the artificial intelligence software company added 3.4% in midday trading following an upgrade to outperform from Oppenheimer. Baidu reported 34.45 billion yuan for the quarter, surpassing the consensus estimate of 34.33 billion yuan from analysts polled by LSEG. Lowe's — Shares of the home improvement retailer dipped 2.7% after Lowe's reported softer-than-expected revenue for the third quarter .

Persons: CNBC's David Faber, Jeff Bezos, Faber, Medtronic, Kohl's, Timothy Horan, Fitch, — CNBC's Brian Evans, Alex Harring, Jesse Pound, Tanaya Macheel, Sarah Min Organizations: Amazon, Burlington, LSEG, Eagle Outfitters, Oppenheimer, Baidu, VMWare, Broadcom, Dick's, Goods, Abercrombie, Technologies, Agilent Technologies Locations: Burlington

☆ The 'Apple of e-bikes' targets profitability next year even as rivals enter bankruptcy
▼ + stars: | 2023-11-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

CowboyCowboy, the Belgian electric bike maker, is expecting to hit full-year profitability in 2024 even as some of its market rivals are facing financial hardship. By the third quarter, Cowboy would then have reached profitability on a full-year basis, according to the firm's boss. It's been termed the "Apple of e-bikes" in the past due to its integration of software smarts in its bikes. In July, Dutch e-bike firm VanMoof filed for protection from creditors. Revonte, a Finnish e-bike firm, also filed for bankruptcy and said it is selling its intellectual property.

Persons: Cowboy Cowboy, Adrien Roose, Roose, we'll, they're, Cowboy Organizations: Cowboy Cruiser, Cowboy, CNBC, Apple Locations: Belgian, Dutch

☆ Stocks making the biggest moves after the bell: Cisco Systems, Palo Alto Networks and more
▼ + stars: | 2023-11-15 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Cisco Systems – Shares tumbled nearly 11% after the digital communications company offered worse-than-expected guidance for the current quarter and full year. That pulled attention away from a strong report for the fiscal first quarter, with Cisco beating the consensus forecasts of analysts polled by LSEG on both lines. Maxeon Solar Technologies – Shares slipped 7% after posting a bigger loss than expected in the third quarter. The solar company beat analyst expectations for revenue in the quarter, but issued a weaker-than-anticipated revenue outlook for both the current quarter and full year. While Gambling.com, a review site of gambling services, beat expectations on both lines for the third quarter, it left its full-year expectations unchanged.

Persons: LSEG, Maxeon, Gambling.com Organizations: Cisco Systems, Cisco, Alto Networks, Alto, Maxeon, FactSet Locations: billings

☆ Brazil food processor BRF widens net loss in Q3 on grain prices, chicken glut
▼ + stars: | 2023-11-13 | by ( Ana Mano | ) www.reuters.com time to read: +2 min

Logos of Brazilian meatpacker BRF SA are seen in the headquarters in Curitiba, Brazil October 1, 2019. BRF reported a 262 million real ($53.37 million) net loss in the third quarter, larger than the 136.7 million loss a year ago but slightly better than an LSEG consensus forecast of a 279 million real loss. Despite the hit, BRF said improvements in the company's operating performance were already showing results. BRF also said net revenue was 13.8 billion reais in the quarter, nearly the same as in the year-ago period. BRF said EBITDA came in at 1.2 billion reais ($244.45 million), slightly above LSEG consensus estimates of 1.17 billion reais.

Persons: Rodolfo Buhrer, BRF, Miguel Gularte, EBITDA, Ana Mano, Kylie Madry Organizations: meatpacker BRF, REUTERS, SAO PAULO, BRF SA, Management, JBS SA, Thomson Locations: Curitiba, Brazil, U.S

Bain has been interviewing investment banks to hire financial advisers that will help the private equity firm come up with a plan to cash out on its majority stake in Varsity Brands, the sources said. Varsity Brands generates more than $400 million in 12-month earnings before interest, taxes, depreciation and amortization, the sources added, asking not to be identified because the matter is confidential. Varsity Brands and Bain declined to comment. Varsity Brands consists of two main businesses, BSN SPORTS and Varsity Spirit. Varsity kept the yearbooks business when it sold Herff Jones to private equity firm Atlas Holdings earlier this year.

Persons: Kim Kyung, Bain, Varsity's Herff Jones, Herff Jones, Catterton, Abigail Summerville, Nick Zieminski Organizations: Bain Capital, REUTERS, Varsity Brands, BSN SPORTS, Spirit, Nike, Varsity, Atlas Holdings, Bain, Charlesbank Capital Partners, Partners Group, Birkenstock, ACON Investments, Kelso, Co, Equity, Thomson Locations: Tokyo, Japan, U.S, Varsity's, New York, Augusta

☆ Brazil's Localiza sees Q3 profit up 57% on fleet management demand
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: 1 min

Companies Localiza Rent a Car SA FollowSAO PAULO, Nov 13 (Reuters) - Brazilian car rental firm Localiza (RENT3.SA) said on Monday it recorded a 56.9% growth in third-quarter profit, in line with analysts' estimates as its fleet management business grew. The firm posted a net profit of 664.7 million reais, compared to the consensus estimate of analysts polled by LSEG of 664.52 million reais. Net revenue for Localiza's fleet management division, which rents out and services entire fleets of vehicles to clients, grew 49.2% from the year-ago quarter to 1.73 billion reais. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter reached 2.68 billion reais, up 12.5% from a year earlier. Reporting by Peter Frontini; Editing by Kylie MadryOur Standards: The Thomson Reuters Trust Principles.

Persons: Peter Frontini, Kylie Madry Organizations: SAO PAULO, Thomson

☆ 3 ways to evaluate a company's debt level to help judge the risk of buying its stock
▼ + stars: | 2023-11-12 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

But what if I then told you that John also only has $50,000 cash in the bank whereas Jane has $2 million cash in the bank? Debt to equity The ratio compares the level of a company's debt on its sheet to the amount of equity. For example, if a company has assets worth $3 million and liabilities worth $1 million, shareholder equity equals $2 million ($3 million – $1 million) and debt to equity equals 0.5x ($1 million / $2 million). Debt service coverage ratio Since we just mentioned the importance of being able to service debt, let's consider a ratio that provides insight into that, the debt service coverage ratio. To do this, we use a metric such as operating income and compare it to the company's debt service requirement, meaning all principal and interest payments due in the next year.

Persons: Jim Cramer, Gail, John, Jane, let's, Eli Lilly, it's, Lilly, Cramer's, Jim Organizations: Procter, Gamble, Honeywell, Cramer's Charitable, CNBC

☆ Argentine oil company YPF swings to loss amid dampened fuel prices
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

[1/2] The headquarters of Argentina's state energy company YPF is seen in Buenos Aires, Argentina February 10, 2021. REUTERS/Matias Baglietto Acquire Licensing RightsCompanies Ypf Sa FollowNov 8 (Reuters) - Argentine national oil company YPF swung to a loss in the third quarter, hurt by lower local fuel prices and higher operating costs, the company said on Wednesday,The result was significantly behind analyst expectations. The state-run producer's revenue fell about 16% to $4.5 billion during the July-to-September period, due in part to a drop in local fuel prices in dollars, YPF said in a statement. In August, Argentina froze fuel prices in a bid to tame surging triple-digit inflation. YPF said total oil and gas production increased 3% in the third quarter, with crude output up 5.4%.

Persons: Matias Baglietto, YPF, Isabel Woodford, Aida Pelaez, Fernandez, Valentine Hilaire, Leslie Adler Organizations: REUTERS, Thomson Locations: Buenos Aires, Argentina, Argentine, Vaca, U.S

☆ Argentina's YPF swings to net loss amid dampened local oil prices
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] The headquarters of Argentina's state energy company YPF is seen in Buenos Aires, Argentina February 10, 2021. REUTERS/Matias Baglietto Acquire Licensing RightsCompanies Ypf Sa FollowNov 8 (Reuters) - Argentina's national oil company YPF swung to a loss in the third-quarter, amid lower local oil prices and higher operating costs, the company said in a statement on Wednesday. Net loss in the period hit $137 million, from a $693 million profit the previous year. The state-run producer's revenue decreased 15.9% to $4.5 billion during the July-to-September period, it said, citing "a drop in local fuel prices in dollars." The results come despite the steady uptick in oil and gas production in recent years from western Argentina's massive Vaca Muerta shale formation, one of the biggest in the world.

Persons: Matias Baglietto, YPF, Isabel Woodford, Valentine Hilaire Organizations: REUTERS, Thomson Locations: Buenos Aires, Argentina

☆ Brazil's Petrobras lifts 2023 forecast for oil and gas output
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

Brazil's state-run oil company Petrobras logo is pictured at its building in Rio de Janeiro, Brazil July 17, 2023. REUTERS/Ricardo Moraes Acquire Licensing RightsCompanies Petroleo Brasileiro SA Petrobras FollowRIO DE JANEIRO, Nov 9 (Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) raised its projection for oil and gas production this year, after posting a 41.5% decrease in third-quarter profit on Thursday. Latin America's top oil producer posted a recurring net profit of 27.2 billion reais ($5.51 billion), while analysts polled by LSEG had expected 28.74 billion reais. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the period shrank 27.6% to 66.19 billion reais ($13.41 billion). Petrobras also said it will pay shareholders 1.344365 reais per share, totaling 17.5 billion reais in dividends.

Persons: Ricardo Moraes, LSEG, Fabio Teixeira, Chris Reese, Lincoln Organizations: Petrobras, REUTERS, Petroleo Brasileiro SA Petrobras, RIO DE, PETR4, Thomson Locations: Brazil's, Rio de Janeiro, Brazil, RIO DE JANEIRO, Brent, Santos, Campos

☆ The market unfairly docks Wynn after a strong quarter. But we see a buying opportunity
▼ + stars: | 2023-11-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

But investor concerns over an unevenness to the Macao recovery sparked selling in afterhours trading, sending Wynn stock down more than 5% — and creating a potential buying opportunity. Despite these positives, Thursday evening's sell-off brought Wynn stock to about $40 below the level at which was trading in 2019. However, the company's two properties in the region – Wynn Palace and Wynn Macao – are not enjoying an equal pace of recovery. In the third quarter of 2023, Wynn Macao generated about $78 million in profits, which when annualized is only $312 million. The weakness at Wynn Macao has the market concerned Thursday about a loss of market share.

Persons: Wynn, —, we're, management's, Wynn Al, There's, annualized, Craig Billings, Jim Cramer's, WYNN, Jim Cramer, Jim, Pual Yeung Organizations: Wynn Resorts, WYNN, LSEG, Wynn Macao, Wynn, United Arab Emirates, Vegas, Management, Prix, NFL, Wynn Interactive, CNBC, Bloomberg, Getty Locations: Las, Macao, China, Las Vegas, Boston, Wynn Al Marjan, EBITDAR, Wynn Macao, Vegas, RevPar

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