Macau stocks higher amid mixed read on July revenue

• Macau casino stocks race higher after forecasts from UBS and Telsey Advisory both point to a strong start to July.
• Telsey estimates year-over-year growth of 8% after ten days of the month, inclusive of electronic gaming revenue.
• Other firms are less optimistic after adjusting for the extra weekend (Nomura) and dissecting the entire month (Wells Fargo).
• Notable gainers on the day include Melco Crown (MPEL +5.3%), Las Vegas Sands (LVS +4.3%), MGM Resorts (MGM +0.4%), and Wynn Resorts (WYNN +5.3%).