Hot Stocks in Focus: MGM Resorts International (NYSE: MGM), Las Vegas Sands Corp.(NYSE:LVS), Melco Crown Entertainment Ltd (ADR)(NASDAQ:MPEL)
Houston, TX – July 10, 2013 – (MESHPRESS) – Holeinonestocks.net, an investor research portal specializing in several sectors including biotech and healthcare and tech stocks on the U.S. market, issues news updates on the following stock:-
MGM Resorts International (NYSE:MGM) shares declined 0.32% to $15.39. MGM’s stock was upgraded by equities researchers at Nomura from a “neutral” rating to a “buy” rating in a research report issued on June 26. The firm currently has a $18.00 price objective on the stock, up from their previous price objective of $16.00.
Additionally, Hyatt Hotels Corporation (NYSE: H) and MGM Resorts International (NYSE:MGM) on June 5 announce an unprecedented relationship between their affiliates that will offer substantial benefits to members of their loyalty programs, Hyatt Gold Passport and MGM Resorts’ M life. Starting June 20, Hyatt Gold Passport members will be able to earn and redeem Hyatt Gold Passport points at 12 iconic participating MGM Resorts destinations in Las Vegas, and M life members will be able to earn M life Tier Credits when staying at Hyatt hotels and resorts around the world.
Moreover, the company on June 26 said it has expanded its commitment to the Boots to Business program that helps veterans transition from military service into management positions at properties owned and operated by MGM Resorts International. Through a Grant of $250,000, MGM Resorts becomes a partner in the Red Cross Service to the Armed Forces (SAF) Giving Program, which helps support members of the U.S. military, veterans and their families.
Las Vegas Sands Corp.(NYSE:LVS) shares declined 0.34% to $52.93. ISI Group analyst Ian Weissman upgraded the rating on Las Vegas from Neutral to Buy, and raised the price target from $52.00 to $60.00 on July 2.
Additionally, the company on June 26 said Chief Financial Officer Kenneth Kay will leave effective July 31. The company didn’t give a reason. Kay will provide transition services as part of a six-month consulting agreement, the Las Vegas-based casino and resort company said in a regulatory filing. He’ll receive one year of salary and a pro-rated bonus for 2013.
Kay’s exit follows the April resignation of auditor Pricewaterhouse Coopers LLP and the March disclosure by Las Vegas Sands that an internal probe had found “likely violations of the books and records and internal provisions” of the Foreign Corrupt Practices Act. A U.S. grand jury in Los Angeles is examining whether the company broke money-laundering laws, the Huffington Post said on June 5.
Melco Crown Entertainment Ltd (ADR)(NASDAQ:MPEL) shares gained 2.09% to $21.99. MPEL’s stock has been reiterated by TheStreet Ratings as a buy with a ratings score of B on July 1. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance.
Additionally, the company, on June 23, announced that the Company has received honor in the 9th Corporate Governance Asia Recognition Awards. In addition, its subsidiary, Melco Crown (Philippines) Resorts Corporation (“MCP”) (PSE:MCP), became the first casino resort operator in Manila to receive honor in FinanceAsia’s annual Best Companies in Asia Poll, in which three awards were garnered by MCP this year.
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