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Asian shares plummeted on Monday, with Tokyo's Nikkei 225 dropping over 4% following a significant retreat on Wall Street, driven by fears of worsening inflation and a slowing U.S. economy amid escalating trade tensions. The S&P 500 experienced its worst day in two years, falling 2%, while consumer pessimism about future finances surged, raising concerns about a potential stagflation scenario. As markets brace for upcoming tariff announcements, oil prices and U.S. futures also declined.
UBS has maintained a "Neutral" rating on CVR Energy, setting a price target of $21, close to its current trading price of $20.58. The company is expected to report a larger-than-anticipated loss of $0.92 per share for Q1, influenced by significant downtime at its Coffeyville refinery, which has led to a projected EBITDA loss of $12 million. Despite these challenges, CVR Energy continues to offer a strong dividend yield of 17.47% and has improved its liquidity through strategic financing moves.
Caesars Entertainment, Inc. reported a quarterly earnings per share of $0.05, surpassing estimates, despite a negative return on equity of 4.44% and a net margin of -3.20%. The company operates in 18 states and has a current market cap of $5.95 billion, with a consensus rating of "Moderate Buy" among analysts. Institutional investors hold 91.79% of the stock, while recent price targets from analysts range from $43.00 to $57.00.
US prosecutors have charged 19-year-old Remington Ogletree for allegedly hacking into two telecommunications firms and a financial institution, resulting in $4 million in damages. He is linked to the Scattered Spider hacking group, known for attacks on major companies like MGM Resorts and Coinbase.
Alexander Moucka, also known as Waifu, was arrested in Canada for leading a hacking spree that compromised over 165 customers of Snowflake, exposing hundreds of millions of records. Security expert Allison Nixon highlights that Moucka's operational security mistakes led to his identification, emphasizing the need to target disproportionately harmful cybercriminals. The investigation revealed that many compromised accounts lacked multifactor authentication, prompting Snowflake to enhance its security measures.
Gambling revenue on the Las Vegas Strip fell 1.8% in September, marking the third consecutive monthly decline, with total earnings at $727.7 million. A significant 22% drop in baccarat play contributed to this downturn, alongside a 40% decrease in the amount casinos retained. This trend mirrors the last extended revenue decline outside the Covid-19 pandemic, which occurred in May 2019.
A public health commission has warned that the surge in online gambling poses significant risks to public health, with an estimated 72 million people globally experiencing gambling-related harms. The report calls for stronger regulations, including restrictions on access and advertising, to protect vulnerable individuals. It highlights the need for a shift in responsibility from gamblers to gambling businesses to minimize harm and improve public health outcomes.
Caesars Entertainment, Inc.
Companies
| Symbol | CZR |
| Name | Caesars Entertainment, Inc. |
| Currency | USD |
| Sector | Consumer Discretionary |
| IndustryGroup | Consumer Services |
| Industry | Hotels, Restaurants & Leisure |
| Market | NASDAQ Global Select |
| Country | United States |
| State | NV |
| City | Reno |
| Zipcode | 89501 |
| Website | http://www.caesars.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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