More than two years after a government crackdown on corruption sent Macau gaming stocks tumbling, The Chinese government has unveiled yet another new regulation on the Macau gaming industry that has hit gaming stocks hard. The latest new law cut the daily ATM withdrawal limit in Macau from 10,000 patacas to 5,000 patacas, or roughly $626.
Unfortunately, transparency and predictability has never been one of the Chinese government’s strong points. Wynn Resorts, Limited (NASDAQ: WYNN) CEO Steve Wynn said the government’s behavior was “preposterous” when it kept operators in the dark about how many table games they would be allotted just weeks prior to opening billion-dollar new resorts. For the record, none of the major operators that have opened resorts in the past two years have received the table allotment they requested.
Although the U.S. gaming market likely doesn’t have the kind of long-term growth potential that Macau does, U.S. casinos are doing just fine these days. In the current fiscal year, Las Vegas Strip revenue is trending about 6% ahead of last year, and other regions of the country are doing even better. For better or worse, U.S. stock investors likely won’t have to worry about new regulations in the next four years under President-elect Trump.
Hot Casino Stocks To Own For 2018: Motorola Solutions, Inc.(MSI)
- [By Peter Graham]
A long term performance chart shows Qualcomm breaking even whilepotential peers Cisco Systems, Inc (NASDAQ: CSCO) and Motorola Solutions Inc (NYSE: MSI) have performed better with theirheir share of volatility:
Hot Casino Stocks To Own For 2018: Novo Nordisk A/S(NVO)
- [By Brian Orelli]
Novo Nordisk (NYSE:NVO) continues its trend ofrelatively strong growth of its newer diabetes medications being offset by slower growth of older insulin drugs in the first quarter. Currency changes also negatively affected Novo’s revenue line, but that’s out of the company’s control.
- [By Stephan Byrd]
Atria Investments LLC trimmed its stake in Novo Nordisk (NYSE:NVO) by 17.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 7,081 shares of the company’s stock after selling 1,495 shares during the quarter. Atria Investments LLC’s holdings in Novo Nordisk were worth $349,000 as of its most recent SEC filing.
- [By Logan Wallace]
Eagle Global Advisors LLC decreased its position in Novo Nordisk (NYSE:NVO) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,420 shares of the company’s stock after selling 15,550 shares during the period. Eagle Global Advisors LLC’s holdings in Novo Nordisk were worth $6,423,000 as of its most recent SEC filing.
Hot Casino Stocks To Own For 2018: Siebert Financial Corp.(SIEB)
- [By Garrett Baldwin]
William may be right about a sell-off in stocks… in the cryptocurrency space. Over the last week, companies that have billed themselves as blockchain-focused saw their stocks surge. One firm – Long Island Iced Tea changed its name to Long Island Blockchain and watched its stock surge more than triple digits. But today, firms with this exposure are cratering. MGT Capital Investments Inc. (OTCMKTS: MGTI), Long Island Iced Tea Corp. (Nasdaq: LTEA), Riot Blockchain Inc. (Nasdaq: RIOT), and Siebert Financial Corp. (Nasdaq: SIEB) all fell by more than 12% Friday.
Hot Casino Stocks To Own For 2018: Dillard's, Inc.(DDS)
- [By Adam Levine-Weinberg]
On Monday, top department store stocks including Macy’s (NYSE:M), Kohl’s (NYSE:KSS), Dillard’s (NYSE:DDS), and J.C. Penney (NYSE:JCP) lost roughly 3% to 4%. The catalyst was a negative analyst report.
- [By ]
Some reasons for my bearishness on retail stocks:
Higher Energy Prices. Oil prices have rallied dramatically and back to 2014 levels, rising from about $35 a barrel in early 2016 to around $67 Thursday. That’s bad news for U.S. retailers, as rising oil prices historically squeeze consumer disposable incomes. That’s one reason why I’ve been consistently raising my short exposure to retail and plan to continue doing so. Shaky Same-Store Sales Growth. Recent improvements to same-store sales at Abercrombie & Fitch (ANF) , Urban Outfitters (URBN) , Dillard’s (DDS) , Gap Inc. (GPS) and Macy’s (M) come against downgraded expectations, and might not be sustainable anyway. No Deal for Nordstrom (JWN) . The Nordstrom family has apparently abandoned plans to take its namesake company private. I had expressed concerns that this would happen. Higher Interest Rates. A rise in the London Inter-Bank Offered Rate (LIBOR) has recently accelerated. That’s bad news for retailers, as many variable-rate consumer debts (particularly mortgages) key off of the LIBOR. This will likely put a damper on mortgage refinancings — something that many see as an important ingredient for personal-consumption expenditures.