Macau casino operator Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) says the cost of building its Studio City resort has risen to US$2.3 billion (MOP18.37 billion) from US$2 billion. Melco Crown says the company developing the resort has enough equity commitments to cover some of the increase in cost and that shareholders in the developer have agreed to make more equity available pro rata to cover the rest of the increase. Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) stock performance was -5.90% in last session and finished the day at $33.50. Traded volume was 6.62million shares in the last session and the average volume of the stock remained 4.10million shares. The beta of the stock remained 2.29. Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) insider ownership is 32.01%.
As made official at this year’s International Music Summit in Ibiza, EDM giants SFX Entertainment Inc (NASDAQ:SFXE) has announced a new international series of dance festivals on beaches named: Corona SunSets. So kind of like a Tequila Sunrise, only more of a lager-based twilight experience. SFX Entertainment Inc (NASDAQ:SFXE) dropped -5.45 percent to $6.76 Tuesday on volume of 711.90K shares. The intra-day range of the stock was $6.70 to $7.13. SFX Entertainment Inc (NASDAQ:SFXE) has a market capitalization of $603.24million.
Einstein Noah Restaurant Group, Inc. (NASDAQ:BAGL) announced that Manny Hilario, chief operating officer, has tendered his resignation to the company. His departure will come in the next several weeks after he has completed assisting with the transition. Einstein Noah Restaurant Group, Inc. (NASDAQ:BAGL)’s stock on June 03, 2014 reported a decrease of -5.14% to the closing price of $14.58. Its fifty two weeks range is $13.66 -$18.30. The total market capitalization recorded $261.35million. The overall volume in the last trading session was 528.30K shares. In its share capital, BAGL has 17.92million outstanding shares.
Mr. Xuechu He, who was named #38 on Forbes richest Chinese list in 2010 with a new worth of RMB 12 billion, purchased a stake in You On Demand Holdings, Inc. (NASDAQ:YOD) from C Media Limited (“C Media”), a leading mobile video service provider in China, in a private stock transaction. Mr. He purchased 2,285,715 restricted Series E convertible preferred shares. “Mr. He has great appreciation for C Media’s long-term strategic view of You On Demand Holdings, Inc. (NASDAQ:YOD) and its ability to capitalize on China’s fast-growing mobile, OTT and digital cable entertainment space,” said Mr. Xuesong Song, co-founder, Chairman, CEO and the largest shareholder of C Media as well as Executive Chairman of YOU On Demand. On Tuesday, shares of You On Demand Holdings, Inc. (NASDAQ:YOD) dropped -5.50% to close the day at $3.09. Company return on investment (ROI) is -208.60% and its monthly performance is recorded as -46.63%. You On Demand Holdings, Inc. (NASDAQ:YOD) quarterly revenue growth is -46.63%.