It has been some time since I covered casino stocks; not since owning Wynn Resorts (WYNN) off the multi-year lows. Investors that have missed my efforts on these companies should look for more coverage from me in the coming months. Ill be spending several days in Macau in early May before heading to China and Hong Kong to spend some time with industrial suppliers in that region. Its a pilgrimage Im trying to make more often in order to provide deeper value to Industrial Insights subscribers via boots on the ground expertise, but luckily that carries over to other sectors as well.
In the interim, I wanted to highlight one of my favorite picks in a completely different space in gaming: Red Rock Resorts (RRR), which operates in the Las Vegas locals market. There is a world of difference between how an operator tries to run a business on the Las Vegas Strip (competing with the likes of Las Vegas Sands (LVS) and MGM Resorts (MGM) versus how a business is run to cater to the local community. Its an entirely different demographic. I think the market has been missing a lot of the story for this company over 2017. In fact, the company is dirt cheap and has 40% upside from todays prices. Contributor Vince Martin has laid out concerns in great coverage since the initial public offering (IPO), and Ill work through a lot of those points today in how I see the bullish case here versus his cautious take. The largest difference in his work and mine, in my opinion, is overly discounting likely tailwinds from strengthening in the local market and potential contribution from current renovations.
Hot Casino Stocks To Watch For 2018: RAIT Financial Trust(RAS)
- [By Lisa Levin]
Shares of RAIT Financial Trust (NYSE: RAS) were down 9 percent to $1.09. FBR Capital downgraded RAIT Financial Trust from Buy to Neutral.
Rave Restaurant Group Inc (NASDAQ: RAVE) was down, falling around 18 percent to $1.65. RAVE Restaurant reported a $5 million equity rights offering.
Hot Casino Stocks To Watch For 2018: Scorpio Tankers Inc.(STNG)
- [By Paul Ausick]
Scorpio Tankers Inc. (NYSE: STNG) dropped nearly 4% Tuesday to post a new 52-week low of $3.18 after closing at $3.31 on Monday. The stock’s 52-week high is $4.93. Volume of around 5.5 million was about 50% above the daily average. The company had no specific news.
- [By Paul Ausick]
Scorpio Tankers Inc. (NYSE: STNG) dropped 4.6% Thursday to post a new 52-week low of $3.09 after closing at $3.24 on Wednesday. The stock’s 52-week high is $4.93. Volume of around 4 million was 10% above the daily average. The company announced yesterday that it had priced an underwritten offering of 30 million shares at $3.00 a share.
- [By Paul Ausick]
Scorpio Tankers Inc. (NYSE: STNG) dropped 1 cent Monday to post a new 52-week low of $3.06 after closing at $3.07 on Friday. The stock’s 52-week high is $4.93. Volume of around 4.2 million about 5% above the daily average. The shipping firm priced a secondary offering of 30 million shares at $3.00 a share late last week.
Hot Casino Stocks To Watch For 2018: Patni Computer Systems Limited(PTI)
- [By William Romov]
Before we show you our pick, here are the top 10 penny stocks to watch this week
Penny Stock Current Share Price Nov. 27-Dec. 1 Gain (as of Dec. 1)
Pyxis Tankers Inc. (Nasdaq: PXS) $4.10 122.83%
Ohr Pharmaceuticals Inc. (Nasdaq: OHRP) $1.28 68.42%
Cerecor Inc. (Nasdaq: CERC) $1.74 47.46%
Proteostasis Therapeutics Inc. (Nasdaq: PTI) $2.52 37.71%
UT Starcom Holdings Corp. (Nasdaq: UTSI) $5.20 37.20%
WMIH Corp. (Nasdaq: WMIH) $0.96 33.46%
PhaseRx Inc. (Nasdaq: PZRX) $0.90 30.29%
Bellerophon Therapeutics Inc. (Nasdaq: BLPH) $2.04 29.94%
EV Energy Partners LP (Nasdaq: EVEP) $0.86 27.76%
Catalyst Pharmaceuticals Inc. (Nasdaq: CPRX) $4.40 25.71%
FREE PROFIT ALERTS: Get real-time recommendations on the best penny stock opportunities the moment we release them. Just sign up here, its completely free
- [By Lisa Levin]
Proteostasis Therapeutics Inc (NASDAQ: PTI) shares shot up 162 percent to $6.16 after the company disclosed 'positive' PTI-428 data with statistical significance.
Hot Casino Stocks To Watch For 2018: CIENA Corporation(CIEN)
- [By Trey Thoelcke]
Ciena Corp. (NYSE: CIEN) will report its most recent quarterly results Thursday morning. The consensus estimates call for EPS of $0.49 and $726.84 million in revenue. Shares closed at $23.87 on Friday, in a 52-week range of $18.94 to $27.98. The consensus price target is $30.77.
- [By Billy Duberstein]
The reasons for the price drop could be a number of things, including increased competition, notably from Ciena(NYSE: CIEN). This was noted by CEO Thomas Fallon who, in the recent conference call, noted competitors may be trying to “buy” market share:
- [By Lee Jackson]
Ciena Corp. (NYSE: CIEN) is another tech company that saw insider selling last week. The president and CEO of the optical giant, Gary Smith, sold a reported 114,318 shares at $24.67 per share. The total for the trade was set at a solid $2,820,225. Shares closed last Friday at $24.41, in a 52-week range of $15.62 to $25.19. The consensus price target is $28.36.
- [By WWW.THESTREET.COM]
Earnings of note in the coming week include Analogic (ALOG) and Ascena Retail (ASNA) on Monday; Bojangles (BOJA) , H&R Block (HRB) , and Dick’s Sporting Goods (DKS) , Michaels (MIK) , and Urban Outfitters (URBN) on Tuesday; Ciena (CIEN) , Bankrate (RATE) , Express (EXPR) , Vera Bradley (VRA) , and Bob Evans Farms (BOBE) on Wednesday; El Pollo Loco (LOCO) , Hugo Boss (BOSSY) , Party City (PRTY) , Signet Jewelers (SIG) , and Verifone Systems (PAY) on Thursday; and Kirkland’s (KIRK) , and Vail Resorts (MTN) on Friday.
- [By Dan Caplinger]
Wednesday was a mixed day for the stock market, with the Dow Jones Industrials falling while the Nasdaq Composite posted modest gains. Parts of the market reacted differently to conflicting news items, which included both poor performance in the energy market and signs of promise for the economy more broadly. Despite the conflict among industry sectors, some stocks got hit particularly hard, and Rite Aid (NYSE:RAD), Ciena (NYSE:CIEN), and Express (NYSE:EXPR) were among the worst performers on the day. Below, we’ll look more closely at these stocks to tell you why they did so poorly.
- [By Rich Smith]
Shares of communications equipment supplier Ciena Corporation (NYSE:CIEN) slumped more than 10% in early-morning trading on Wednesday before climbing back to “only” an 8.8% loss as of 3:15 p.m. EST.
Hot Casino Stocks To Watch For 2018: Sunoco Logistics Partners LP(SXL)
- [By Matthew DiLallo]
Meanwhile, a noteworthy project in the midstream segment finally finished construction in the quarter, after the company and its joint venture partners Energy Transfer Partners (NYSE:ETP) and Sunoco Logistics Partners (NYSE:SXL)completed the controversial Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline. The partners expect commercial operations to begin this June, which means that this pipeline should drive incremental earnings for Phillips 66 in the back half of this year.
Hot Casino Stocks To Watch For 2018: New Residential Investment Corp.(NRZ)
- [By ]
New Residential (NYSE: NRZ) is a U.S.-based REIT that specializes in managing investments in residential real estate. With a market cap of $5.5 billion, NRZ is one of the largest REITs in the United States, so this is no fly-by-night company. NRZ offers one of the best dividends in the industry. The trust made four dividend payments in 2017 totaling $1.94. That gives shares a current yield of 11.3%, more than a 400% premium to the S&P 500’s average 2.0% yield.
- [By Chris Dier-Scalise]
Thge Vetr crowd upgraded its rating for New Residential Investment Corp (NYSE: NRZ) on Friday from the company's previous standing at 3 stars (Hold), issued 10 days ago, to 4 stars (Buy). Crowd sentiment at the time of the upgrade was mostly positive, with 80 percent of Vetr user ratings bullish.
- [By Sean Williams]
Today’s lawsuit has spilled over to the company’s peers as well. New Residential Investment Corp. (NYSE:NRZ), which invests in excess mortgage servicing rights (MSRs), wound up falling as much as 13% during the day’s trading session. Ocwen is one of the three companies mentioned as being one of the primary servicers in New Residential Investment’s MSRs, according to its 10-K. If mortgage owners or bondholders terminate Ocwen as the servicer, the excess MSRs tied to Ocwen could lose some or all of their value.Altisource Portfolio Solutions S.A.(NASDAQ: ASPS)fell 42%.
- [By Lisa Levin]
Ocwen Financial Corp (NYSE: OCN) shares were also up, gaining 42 percent to $3.25. New Residential Investment Corp (NYSE: NRZ) revealed it owned some servicing rights to the troubled Ocwen Financial. During today's conference call, New Residential’s executive suggested the company will pay $425 million for Mortgage Servicing Rights to Ocwen.