Stocks recover to show narrower loss by end of day
The Standard & Poor’s 500 almost got to break-even late in the day today (at 3:28 p.m. New York time) but stocks couldn’t hold the line. Still the 0.81% loss at the close for the index as much better than the 2.99% loss at 10:45 this morning. That was...
Back to tech: For a day (at least) rotation is over
Today, August 12, the rotation out of tech winners and into beaten-up consumer and industrial stocks is over. As of the close today. the Standard & Poor’s 500 was up 1.40% but the NASDAQ Composite was ahead 2.13%. The Dow Jones Industrial Average was higher...
MGM looks like a good test case as Wall Street debates V- or U-shaped recovery from the coronavirus
Shares of MGM resorts International (MGM) fell 11.59% today, Thursday March 5, to close last $20.60. The shares closed at $31.21 at their 2020 high on January 17. The impetus for the latest big drop in the stock was the announcement of the first reported case of the...
MGM Resorts International: That’s one ugly chart (and what that means for the market as a whole)
If you’re thinking of doing some bottom fishing in a belief that the bear market might be nearing a bottom or that the recent Santa Claus rally could last into the first half of January, I’d suggest you take a look at some charts, either of individual...
Selling MGM Resorts on escalating China trade war fears
I still believe in all the catalysts that I touted for MGM Resorts International (MGM) for late this year–yes, the company’s new Macao casino will give the company more exposure to that market, yes, a wave of states legalizing sports gambling plays to...
New catalysts lining up for MGM Resorts–I’ll hold in my Jubak Picks Portfolio for the moment of recognition
Shares of MGM Resorts International (MGM) peaked for 2018 (so far) at $38.03 on January 29, 2018 and since then the trend has been brutally downward. The stock’s 50-day moving average broke below its 200-day moving average (a moment that technical analysts...
Big earnings report from MGM Resorts before the market open tomorrow
Tomorrow’s earnings report from MGM Resorts International (MGM) could be make or break for the call options that I hold on this stock in my Volatility Portfolio. The options have been all over the block in recent weeks from up 50% to down 30% on market...
It’s beginning to look a lot like Christmas in Macao–and for MGM Resorts
The first ten days of December have been strong for gaming revenue in Macao. That has led investment company Sanford Bernstein to project that gaming revenue in Macao will climb 21% to 23% for the month. That would be stronger than expected–and bodes well for...
Two typhoons don’t dent casino revenue growth in Macao
Casino revenue in Macao climbed by a year over year 20% in August, marking a 13th consecutive month of growth–despite two typhoons the left half of the city without power and water for as many as four days. Analysts had been looking for 17% to 22% growth in...
MGM shares climb on news stock is to join S&P 500
Effective July 26, MGM Resorts International (MGM) will join the Standard & Poor’s 500 stock index to replace Reynolds American (RAI), which is being acquired by British American Tobacco. (That means that all funds that track the S&P 500 index will...
MGM Resorts still has more upside from here
MGM Resorts International (MGM) hit a new 52-week high during intraday trading on November 7. The stock is now up 119.96% since I added it to my Jubak Picks portfolio back on May 4, 2012. Shouldn’t I just take my profits and run? Well, Yes if all the catalysts...Jim’s Daily Email Alerts:
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