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

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Closing Price
Day's Change
0.31 (2.12%)
B/A Size
Day's High
Day's Low

10-day average volume:

Spotify's stock sinks to extend pullback after UBS flips to bearish from bullish

9:12 am ET July 14, 2020 (MarketWatch)

Shares of Spotify Technology S.A. (SPOT) sank 4.8% in premarket trading Tuesday, to extend the previous session's pullback, after UBS analyst Eric Sheridan swung to bearish from bullish on the music streaming platform, saying future opportunities are "more than priced in." Sheridan cut his rating two notches to sell, after being at buy since April 2018, while raising his stock price target to $204 from $189. On Monday, the stock had rallied as much as 2.6% intraday to an all-time high in early morning trading, then reversed course to close down 6.1%. It was still up 92.2% over the past three months, while the S&P 500 has gained 10.9%. Sheridan wrote in a note to clients that after the recent rally, the stock is "now pricing in the entirety of upside optionality that we model in the coming years ([subscriber] and engagement growth, shift in engagement habits and possible improvement in unit economics)." Although he doesn't see material risk to operating estimates in the coming quarters, he also doesn't see pronounced upside that could expand valuation multiples from current levels.

-Tomi Kilgore; 415-439-6400;

(END) Dow Jones Newswires

July 14, 2020 09:12 ET (13:12 GMT)

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