Melco Crown higher as investors look to the back half of the year

• Shares of Melco Crown (MPEL) are higher in early action.
• A number of investment firms have issued comments on Macau gaming revenue trends this week with most calling for an end to the sharpest of the year-over-year drops.
• The forecast for positive growth has been pushed back to the second half of the year at the earliest.
• Melco's Studio City casino resort is due to open in Q3.
• MPEL +3.2% to $23.70 vs. the 52-week trading range of $20.40 to $39.10.