DIRS.INFO The most relevant business & tech news

☆ A buying force will give stocks a boost as soon as next week, especially these shares, Goldman says
▼ + stars: | 2023-05-02 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Corporate America's buying force should give the stock market a support as soon as next week, and some shares could see an outsized boost, according to Goldman Sachs. The Wall Street firm estimated that 75% of S & P 500 companies will be out of their blackout windows by the end of next week. To be sure, Goldman said the boost from buybacks may be particularly small this time around as companies tighten their purse strings amid an economic slowdown. Reported repurchases for the S & P 500 companies in the first quarter have fallen 21% year over year, Goldman said. "The outlook for corporate buybacks is less favorable and a slowdown is already in motion," Goldman said in a note.

☆ MGM Resorts beats Wall Street estimates for first-quarter revenue
▼ + stars: | 2023-05-01 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +1 min

NEW YORK, May 1 (Reuters) - MGM Resorts International (MGM.N) on Monday beat Wall Street estimates for first-quarter revenue due to an increase in traffic and business volumes in Macau and Las Vegas. Casino operators are benefiting from the rebound in traffic in gaming hubs as travel and tourism spending from China rebounds. "MGM Resorts is executing across all of its geographies and channels with record first quarter Las Vegas Strip Adjusted Property EBITDAR, consistently strong Regional Operations profit, MGM China's swift return to profitability," said MGM Resorts CEO Bill Hornbuckle in a press release. The Las Vegas-based casino operator posted an adjusted first-quarter gain of 44 cents per share, beating analysts' expectations for a gain of 1 cent a share. The casino operator's revenue rose to $3.9 billion in the first quarter from $2.9 billion a year ago and surpassed analysts' average estimate of $3.6 billion.

☆ Futures muted as Fed caution sets in, JPMorgan to buy First Republic
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +4 min

The rescue comes less than two months after a deposit flight from U.S. lenders Silicon Valley Bank and Signature Bank forced the Fed to step in with emergency measures to stabilize markets. Apple Inc (AAPL.O) is set to report later this week. Markets should take today's news in stride knowing that the repeated bank failures should now have the Fed back on its heels and defanged moving forward." ET, Dow e-minis were down 14 points, or 0.04%, S&P 500 e-minis were down 3.75 points, or 0.09%, and Nasdaq 100 e-minis were down 13.5 points, or 0.1%. Reporting by Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures muted ahead of Fed meet this week; First Republic Bank shares tank
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +3 min

Analysts now expect first-quarter earnings for S&P 500 companies to fall 1.9% from a year earlier, compared with a 5.1% fall expected at the start of April, according to Refinitiv data. Meanwhile, First Republic Bank's (FRC.N) shares tanked 38.5% in premarket trading. The rescue comes after the collapse of Silicon Valley Bank and Signature Bank in March, amid a deposit flight, forced the U.S. central bank to step in with emergency measures to stabilize markets. The KBW Regional Banking index (.KRX) and the S&P 500 Banks index (.SPXBK) have lost 22% and 10%, respectively, so far this year. ET, Dow e-minis were up 13 points, or 0.04%, S&P 500 e-minis remained unchanged, and Nasdaq 100 e-minis were down 1 point, or 0.01%.

☆ Aerosmith to ‘Peace Out’ after 50 years with farewell tour
▼ + stars: | 2023-05-01 | by ( Lisa Respers France | ) edition.cnn.com time to read: +1 min

CNN —Aerosmith is heading into retirement with a farewell tour. The group announced Monday that they will have a 40-date North American tour, featuring special guests The Black Crowes. “It’s not goodbye it’s PEACE OUT!,” Aerosmith said in a joint statement. “Get ready and walk this way, you’re going to get the best show of our lives.”They also shared that drummer Joey Kramer will not be joining them. Aerosmith recently wrapped their Las Vegas residency, “Aerosmith: Deuces Are Wild” at Dolby Live at Park MGM.

☆ Stocks making the biggest moves after hours: Arista Networks, Chegg, MGM Resorts, Stryker and more
▼ + stars: | 2023-05-01 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Arista Networks — The cloud networking company slid 7% despite beating analysts' expectations for the first quarter. Arista saw $1.43 in adjusted earnings per share in the quarter on $1.35 billion in revenue, while analysts polled by Refinitiv expected $1.34 per share on $1.31 billion. Separately, the company beat analysts' expectations for adjusted earnings per share and revenue in the first quarter, according to Refinitiv. Diamondback reported $4.10 in earnings per share, less than the $4.33 consensus estimate of analysts polled by FactSet. The company posted 44 cents in adjusted earnings per share, smashing the consensus estimate of 10 cents per share, according to Refinitiv.

☆ Stock futures are flat after Dow notches best month since January
▼ + stars: | 2023-04-30 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

U.S. stock futures were flat in overnight trading Sunday after the major averages logged gains for April, and the Dow Jones Industrial Average notched its best month since January. Futures tied to the Dow dipped 30 points, while S&P 500 and Nasdaq-100 futures each inched 0.1% lower. The Nasdaq Composite advanced 0.69% as Big Tech earnings took center stage. For the month, the Dow gained 2.5% to notch its best monthly stretch since January, while the benchmark index gained 1.5%. "There was definitely a very positive surprise on the big tech earnings," said Jan Szilagyi, CEO of Toggle AI.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ The Long Demise of the Stretch Limousine
▼ + stars: | 2023-04-28 | by ( Jesus Jiménez | ) www.nytimes.com time to read: +1 min

“There wasn’t one stretch limousine on the show floor,” said Robert Alexander, president of the National Limousine Association, a trade group. “Not one.”Decades ago, stretch limos were a symbol of affluence, used almost exclusively by the rich and famous. Over time, they became more of a common luxury, booked for children’s birthday parties or by teenagers heading to the prom. These days, it seems as if hardly anyone is riding in a stretch limo. While the limousine name has stuck, the limo industry has shifted to chauffeur services in almost anything but actual stretch limos, which have largely been supplanted by black S.U.V.s, buses and vans.

☆ Markets next week have to contend with how aggressive the Fed drumbeat sounds
▼ + stars: | 2023-04-28 | by ( Scott Schnipper | ) www.cnbc.com time to read: +8 min

"Is Chairman Powell going to say, 'It is likely that we pause now and assess what the economy is going to do?' "The tone on that balance is going to be very critical to how the market is going to move next week." "What is [Powell] going to do? June Fed meeting The betting on Wall Street right now is that, after next week, the Fed will standpat at its next meeting six weeks later, on June 13-14. Beyond Apple, some 161 other companies in the S & P 500 index are scheduled to report latest-quarter results next week.

☆ Fanatics moves one step closer to IPO, hiring Meta's head of investor relations
▼ + stars: | 2023-04-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

While an IPO is not on the immediate horizon, the company is taking a step in the direction of preparing for one, hiring Meta's investor relations head to further build out its engagement with current and future shareholders. Deborah Crawford, who has served as Meta 's vice president of investor relations for more than eight years, is being appointed as Fanatics' head of investor relations, a new position at the company. Prior to Meta, Crawford was head of investor relations for Netflix, where she helped initiate the streaming company's first formal investor relations function, according to Fanatics. Schiffman declined to comment on the potential timing of a Fanatics IPO but confirmed the company has a goal of going public. Fanatics has seen its valuation and investor roster drastically expand in recent years, which has also helped to fuel IPO chatter.

HONG KONG, April 26 (Reuters Breakingviews) - If Japan is the next Macau, $16 billion MGM Resorts International (MGM.N) may be the only winner left at the table. After years of debate and delays, Japan has finally given approval for a resort in Osaka. But as diversifying from China becomes a popular mantra, this big bet looks smarter than it once did. The 1.08 trillion yen ($8.1 billion) resort is set to open in 2029. U.S. casino operator MGM Resorts International and local partner Orix will each own a 40% stake in the company set up to manage the complex.

☆ Amazon Studios insiders are speculating about layoffs as soon as Wednesday as Andy Jassy looks for cost savings across the board
▼ + stars: | 2023-04-25 | by ( Lucia Moses | ) www.businessinsider.com time to read: +2 min

Amazon Studios and Prime Video insiders are expecting layoffs this week. After massive layoffs across Amazon, speculation inside Prime Video and Amazon Studios has been mounting that their turn is next, starting as early as Wednesday. Amazon Studios is the TV and film division and a source of content for Prime Video, one of a bundle of services that drive Amazon Prime memberships ($139 per year or $15 per month in the US). Amazon's entertainment business so far has been untouched by layoffs within the company, which has joined the rest of the tech industry in big layoffs. As a high-profile but relatively small unit of the trillion-dollar-plus Amazon, Prime Video is somewhat insulated from the financial pressures facing its entertainment competitors.

☆ Approval to build Japan's first casino is a 'major milestone' for MGM, analyst says
▼ + stars: | 2023-04-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApproval to build Japan's first casino is a 'major milestone' for MGM, analyst saysJordan Bender of JMP Securities discusses the Japanese government's approval of a plan to build a $8.1 billion Osaka resort, which would be the country's first casino.

☆ MGM Group Gets OK to Build Japan’s First Casino in $8 Billion Project
▼ + stars: | 2023-04-14 | by ( Megumi Fujikawa | ) www.wsj.com time to read: 1 min

Osaka’s plans call for a 5.3 million-square-foot complex with a gambling area, conference center and theaters on Yumeshima, or Dream Island. TOKYO—A group that includes MGM Resorts International won government approval Friday to build Japan’s first casino, which they hope to complete by 2029 on an artificial island in Osaka. The decision finally creates a clear path forward for a long-delayed plan to make casino resorts part of Japan’s tourism mix. Osaka, a popular tourist destination that has a large international airport and is close to the ancient capital of Kyoto, was among the first to raise its hand for a gambling license after legislation in 2016 made that possible.

HONG KONG, April 14 (Reuters Breakingviews) - Macau, once the world’s largest gambling hub, is far from a sure bet. For MGM China (2282.HK) and Sands China (1928.HK), the highest is two-thirds more than the lowest, for example. Uncertainty is compounded by onerous obligations companies have to help Macau reduce its dependence on gaming. Take $16 billion MGM Resorts International (MGM.N), whose Japanese resort received a green light on Friday. There’s also $13 billion Wynn Resorts (WYNN.O), which is pushing into the fast-growing United Arab Emirates.

☆ Japan approves $13.5 bln Osaka resort, country's first casino
▼ + stars: | 2023-04-14 | by ( Kantaro Komiya | ) www.reuters.com time to read: +3 min

[1/2] The spinning wheel on a roulette table is seen at Japan Casino School in Tokyo, Japan August 4, 2018. U.S. casino operator MGM Resorts International (MGM.N) and local partner Orix Corp (8591.T) have spearheaded the Osaka IR project, with each owning a 40% stake in the company set up to manage the complex. The national government's decision came after the pro-casino Japan Innovation Party retained the prefectural governor and city mayor offices in Osaka on Sunday. Major casino operators Las Vegas Sands Corp (LVS.N), Caesars Entertainment Corp and Wynn Resorts Ltd (WYNN.O) withdrew from planned projects. The government on Friday said it would need more time to review the Nagasaki plan, led by Casinos Austria International.

☆ Japan approves Osaka as site of country's first casino
▼ + stars: | 2023-04-14 | by ( Kantaro Komiya | ) www.reuters.com time to read: +2 min

[1/2] The spinning wheel on a roulette table is seen at Japan Casino School in Tokyo, Japan August 4, 2018. Put forth by the city and Osaka prefecture, the project aims to open a casino, conference centre and other facilities in 2029 with 1.8 trillion yen ($13.5 billion) of initial investment. MUFG Bank (8306.T) and Sumitomo Mitsui Banking Corp (8316.T) will provide 550 billion yen in project financing for the resort, the document showed. The national government's decision came after the pro-casino Japan Innovation Party retained both the office of prefectural governor and city mayor in Osaka on Sunday. Japan's casino plans have faced a number of obstacles such as the coronavirus pandemic and a bribery scandal.

☆ Osaka casino resort's approval process is in final stage, Japan PM says
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: 1 min

TOKYO, April 13 (Reuters) - A casino resort project in Osaka, western Japan, is in the final stages of the government's approval process, Prime Minister Fumio Kishida told reporters on Thursday. The Osaka integrated resort project, which includes Japan's first casino, has been put forward by U.S. casino operator MGM Resorts International (MGM.N) and local partner Orix Corp (8591.T). Jiji news agency on Wednesday reported the government was set to approve the Osaka casino project as early as on Friday. Reporting by Kantaro Komiya Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves premarket: Shopify, Global Payments, MongoDB and more
▼ + stars: | 2023-04-12 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Shopify — Shares of the e-commerce company gained 2.4% after JMP upgraded Shopify to market outperform from market perform. The firm assigned the company a price target of $65 per share, implying a 45.1% upside from Tuesday's close. MongoDB — The software company's stock price rose 2.8% in premarket trading after Morgan Stanley upgraded MongoDB to overweight from equal weight, citing the company's leadership in cloud optimization initiatives. Analyst Brennan Hawken increased his price target to $385 from $350, suggesting shares stand to gain 17.6% from Tuesday's close price. The firm also lifted its price target to $55, which suggests a 27% from Tuesday's closing price.

☆ Hollywood film and TV writers are preparing for a strike. Here's how Disney, Netflix, and other entertainment giants could weather a work stoppage.
▼ + stars: | 2023-04-04 | by ( Lucia Moses | ) www.businessinsider.com time to read: +8 min

The writers guild asked its members to authorize a strike, which would come at a risky time for Hollywood. Netflix, Amazon, and Disney have content stockpiles that could help them through a work stoppage. A Hollywood writers strike is looming at a precarious time for the media and entertainment industry. During that 100-day strike, more than 60 TV shows shut down and ratings and ad sales dropped. The landscape of entertainment options is "much more competitive than it was during the last writers strike," media consultant Peter Csathy told insider.

☆ AMC Entertainment shares jump on report Amazon exploring a deal
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +1 min

March 28 (Reuters) - Shares of AMC Entertainment Holdings Inc (AMC.N) jumped more than 18% on Tuesday, set for their biggest gain in a month, after a report that ecommerce giant Amazon.com Inc (AMZN.O) was looking to buy the theater chain. Amazon founder Jeff Bezos has dispatched his investment advisers and top entertainment chiefs to explore acquisition plans for AMC, The Intersect reported, citing sources familiar with the discussions. AMC and Amazon did not immediately respond to Reuters requests for comment. AMC's shares, which posted a 12-fold jump in 2021 in a Reddit-fueled surge, have gained about 11% this year to Monday's close. Reporting by Tiyashi Datta and Akash Sriram in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

The latest sequel, "John Wick: Chapter 4," hits theaters on March 24. Since 2014, the first three "John Wick" movies have accumulated a collective worldwide box office gross of over $587 million. If you're looking to catch up on the franchise before seeing "John Wick: Chapter 4" in theaters, you're in luck. The first three "John Wick" movies are all available to stream, rent, or purchase online. Where to watch 'John Wick' moviesThough "John Wick: Chapter 4" will be exclusive to theaters when it premieres on March 24, you can watch the first three "John Wick" movies at home right now on Peacock.

☆ From Disney and Netflix to Warner Bros. Discovery, which entertainment giants would be the winners and losers of a Hollywood writers strike
▼ + stars: | 2023-03-16 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

A possible Hollywood writers strike is looming at a risky time for the entertainment business. A Hollywood writers strike is looming at a precarious time for the media and entertainment industry. During that 100-day stoppage, more than 60 TV shows shut down and ratings and ad sales dropped. The landscape of entertainment options is "much more competitive than it was during the last writers strike," media consultant Peter Csathy told insider. Paramount also has an extensive live sports offering, which should offer some insulation if writers go on strike.

☆ Beware these stocks with high leverage as a potential recession looms, Wolfe Research says
▼ + stars: | 2023-03-07 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Concerns of an impending recession have become paramount in corporate America after the Federal Reserve began raising interest rates in a bid to cool inflation. Given this environment, Senyek screened for stocks that could be most vulnerable as interest rates rise and the economy slows. Norwegian Cruise Line also made the list, but for its estimated floating debt rate. TransUnion also raised a red flag for its 98% estimated floating debt rate. Despite the floating debt rate and lackluster earnings forecast, others are still optimistic about the credit reporting agency.

Search resuls for: "mgm"

25 mentions found