Melco Resorts & Entertainment Ltd
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Consumer Discretionary : Hotels, Restaurants & Leisure |
Based in Hong Kong
Company profile

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines. Its segments include City of Dreams, Altira Macau, Studio City, Mocha Clubs, City of Dreams Manila, and Corporate and Others. It has over three casino based operations in Macau, namely, City of Dreams, Altira Macau and Studio City, and non-casino based operations in Macau at its Mocha Clubs. It also has a casino based operation in the Philippines, City of Dreams Manila. It is developing the fifth hotel tower at City of Dreams in Cotai, Macau. Its other operations also include Taipa Square Casino, Macau operating within Hotel Taipa Square.

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

ADR fees charged by custodial banks normally average from 1 to 3 cents per share. Other country fees might apply. To read more, see the Exception Fees tab at Brokerage Fees

Closing Price
$14.94
Day's Change
0.31 (2.12%)
Bid
--
Ask
--
B/A Size
--
Day's High
15.14
Day's Low
14.57
Volume
(Average)
Volume:
3,032,350

10-day average volume:
3,145,804
3,032,350

Spotify stock surges after Goldman boosts target to $280

10:34 am ET June 25, 2020 (MarketWatch)
Print

Shares of Spotify Technology SA (SPOT) are up 7% in Thursday trading after Goldman Sachs analyst Heath Terry boosted his price target on the stock to $280 from $205. His new target is higher than all those listed on FactSet. Terry is upbeat about the company's expanded emphasis on podcasts as Spotify has signed new exclusive podcast deals and improved its ability to monetize this audio content. "While there are considerable risks to this strategy given the costs associated, the underdeveloped nature of the podcast market, and challenges forecasting the financial impact to long term revenue and profit growth, we believe the optionality these efforts create leave the risk/reward in owning Spotify in a favorable position, even when accounting for its recent outperformance," he wrote. Shares have rallied more than 100% over the past three months as the S&P 500 has gained 24%. Terry argued that the company can use podcasts as a differentiator that could bring more subscribers over to the Spotify platform. He has a buy rating on the stock.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

June 25, 2020 10:34 ET (14:34 GMT)

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