Today we look at the outlook for Wynn Resorts (
WYNN
) given the robust growth in Macau.
Unilever
(
UL
) announces plans to open a large production facility in China as
part of its strategy to further penetrate the world's most populous
country. We assess the outlook for Nasdaq OMX Group (
NDAQ
) based on the growth outlook for listed options and Nasdaq's plans
to stymie market share declines. Total (
TOT
) is looking to launch a friendly tender offer for Nasdaq OMX Group
(
NDAQ
) to own 60% of its A & B class shares. Finally, we look at
Freeport McMoran Copper's (
FCX
) earnings and the outlook given the recent swings in commodity
prices.
Macau Growth Impresses, Lifting Wynn Estimates
Wynn Resorts (
WYNN
) reported better than expected Q1 earnings a few weeks back driven
by strong earnings from Macau operations, which we look at below.
Revenue in Q1 increased by near 47% at Wynn Macau and by 24% in the
Las Vegas operations. We also note that Las Vegas results came in
firm which bodes well for Wynn as well as Las Vegas Sands
(NYSE:LVS) and MGM Resorts International (MGM). We have updated
our price estimate for Wynn Resorts stock from $118
to $135
, primarily due to an above average growth outlook for the Macau
region and the recovery in the Las Vegas casino industry. Our price
estimate is about 7% shy of the market price.
See article
Unilever Bulks Up in China
Unilever (
UL
), the second largest consumer goods company in the world,
after Procter & Gamble (PG), recently announced plans to
build one of its largest production bases in China. Unilever
already has sales worth over $20 billion in China and anticipates a
substantial increase in this figure in the years ahead. China, the
world's second-largest economy, has been contributing double-digit
growth to consumer giants like P&G, Colgate-Palmolive (CL)
and Kimberly-Clark (KMB). Given the country's massive
population and rising income levels, the growth opportunity is very
promising.
See article
3 Key Trends for Nasdaq OMX
Nasdaq OMX Group (
NDAQ
) is a leading global exchange group that delivers trading,
exchange technology, securities listing, and public company
services across six continents. It is the largest cash equities
securities market in the U.S. in terms of listed companies and in
the world in terms of share value traded. As of December 31st, the
NASDAQ Stock Market was home to 2,778 listed companies with a
combined market capitalization of approximately $4.6 trillion.
Nasdaq competes with NYSE Euronext (NYX), CME Group (CME), BATS
Global and other regional exchanges.
See article
Total Looks to Grab 60% of SunPower's Equity
SunPower (SPWRA) recently announced that the Total Group would
soon be launching a friendly tender offer to buy 60% of the solar
industry giant's outstanding class A and class B equity shares.
SunPower manufactures and distributes silicon-based solar
cells and also produces solar power products
for installation on residential and commercial units. The
company's primary competitors include First Solar
(FSLR), SuntechPower (STP), and Yingli Green Energy Holding
Com (YGE).
See article
Rising Metal Prices Lift Freeport
Freeport McMoran Copper's (
FCX
) performance for the first quarter of 2011 showed improved
earnings across all divisions, primarily due to steadily increasing
prices of the company's principal commodities - copper, gold and
molybdenum. Freeport has mining and smelting operations in North
and South America, Indonesia and Africa, and operates the Grasberg
mine located at Papua, Indonesia - the world's largest copper
and gold mine in terms of reserves. Freeport competes with
other miners such as Southern Copper (NYSE:PCU), Codelco
and Newmont Mining (NEM).
See article