Wynn Resorts WYNN reported weak first-quarter results, as the company continued to perform poorly in Macau due to intensifying competition from new casinos on the Cotai Strip. Revenue and EBITDA were above consensus estimates, but only because the company had an unusually high hold rate for VIP table games in Macau and table games in…
Positive momentum in the long-suffering wood products business led improved results in Weyerhaeuser’s WY first quarter, as the segment benefited from improved housing demand and a cautious lumber industry that hasn’t fully recalibrated supply to meet the new demand reality. Results were more tepid in Weyerhaeuser’s other segments, as log prices haven’t enjoyed the kind…
Bargain hunters should focus on biotechs since momentum is clearly on their side. On Wednesday, stocks closed higher, led by the small- and mid-cap sectors. The Nasdaq led all other indices, up 1%, while the S&P 500 rose 0.7% with 7 of 10 sectors advancing, and the Dow industrials gained 0.6%. Retail sales for July…
A recent legal referral in the EU may be inching the region a little closer to more unity on one small element of bitcoin taxation, but it won’t do much to help global confusion on the matter. Cryptocurrencies are so new that few member states have worked out how to interpret the VAT rules for…
Google (NASDAQ GOOG) has a big problem and this time, it involves sharks. The search giant’s fiber optic cable lines in the Pacific Ocean are being ravished by great white sharks and now the company is forced to do a massive repair project. Google plans on reinforcing the fiber-optic cables deep inside the ocean to…
In an historical development, Apple Inc (NASDAQ AAPL) has started housing data servers on Chinese soil to store personal data of Chinese users, potentially out of the reach of US legal jurisdiction. Although Apple claims the move is to “improve service,” the issue of government access to cell phone communications that can be used to…
