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Symbol WYNN
Name Wynn Resorts, Limited
Currency USD
Sector Consumer Discretionary
IndustryGroup Consumer Services
Industry Hotels, Restaurants & Leisure
Market NASDAQ Global Select
Country United States
State NV
City Las Vegas
Zipcode 89109
Website http://www.wynnresorts.com
Billionaire Tilman Fertitta has increased his stake in Wynn Resorts to 9.9%, becoming the largest individual shareholder, as the company's stock rose 9% following the news. Despite a long history of volatility, Wynn's stock has gained roughly 57% over the past two decades, significantly lagging behind competitors like Marriott and Hilton. Fertitta, who also owns the Houston Rockets and several Golden Nugget casinos, is planning a new casino resort on the Las Vegas Strip while Wynn faces scrutiny over its performance and future development plans.
Tilman Fertitta, who holds a 9.9% stake in Wynn Resorts Ltd., is dissatisfied with the company's performance and share price. He believes Wynn management is failing to effectively communicate its performance to investors and sees potential for brand expansion, especially in the US.
Stock futures were flat ahead of the U.S. presidential election, with the Dow slipping 17 points and S&P 500 futures down slightly. Palantir surged 13% on strong earnings, while NXP Semiconductors fell over 5% due to a weak outlook. Market volatility is expected as investors await election results and the Federal Reserve's rate decision.
Stock futures dipped as investors prepared for the U.S. presidential election, with Dow futures down 0.2% and S&P 500 futures slightly lower. The election's outcome could significantly impact market direction, particularly regarding congressional control, while traders anticipate a 96% chance of a Federal Reserve rate cut. Earnings season continues, with about 70% of reported results exceeding estimates.
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