Diamonds and Dogs
Wynn Resorts (WYNN) is a win today. Wynn is jumping 8% today after lowering guidance for the fourth quarter. With the stock retesting the August lows yesterday, Wynn preannounced fourth quarter earnings. The numbers are not spectacular. Revenue in Macau, China is expected to be in the range of $552-$560 million compared to $761.2 million last year. The Las Vegas operations are actually better in the range of $387-395 million, compared to $376.8 million a year ago. While the numbers are not great, the revenue particularly out of Macau looks to be stabilizing. Wynn's stock is also heavily shorted, so the shorts are getting hit pretty good after a heck of a sell off the last month.
What's better Mac or PC? Today's dog would say PC in an instant. Intel Corp (INTC) is down 8.30% following better than expected earnings. Intel easily beat earnings estimates with revenue in line. The one sticking point was data Center growth below expectations along with weakness in China. The analysts remain bullish on Intel with price targets in the upper $30s so long term Intel still looks good.