Market Currents

• Monday, November 30, 2009

• 07:26 AM The IPO of Sands China, the world's seventh-largest IPO so far this year, dropped 10% on its first day, as many expected. Shares of the Macau unit of U.S. casino operator Las Vegas Sands (LVS) opened at HK$9.35, vs. their Hong Kong IPO price of HK$10.38. The IPO, which raised $2.5B, came in the middle of the Dubai debt debacle and more generally, a stock market that's been showing signs of fatigue. 1 Comment

• Sunday, November 15, 2009

• 17:36 PM Sands China (LVS), which hopes to raise about $5.15B, will open most of its stalled Macau monstrosity by the end of 2011. 3 Comments

• Wednesday, November 11, 2009

• 11:19 AM Las Vegas Sands (LVS) up 2.4% on reports it may restart work on its stalled Macau projects in January. Earlier this week it revealed plans to draw more than $3B in an IPO for the Macau operations. Comment!

• Monday, November 9, 2009

• 09:00 AM Premarket gainers: EWBC +51%. ARIA +14%. RSH +11%. FUQI +10%. SAY +9%. TSFG +7%. NCS +7%. JASO +6%. DISH +6%. CVM +6%. AIB +6%. ANF +6%. RTP +5%. MBI +5%. NG +4%. LVS +4%. SLW +4%. HL +4%. GFI +4%. SWKS +4%. BHP +4%. FAS +4%. TGB 4%. XOMA +4%. Comment!

• Sunday, November 8, 2009

• 17:32 PM Sources say Las Vegas Sands (LVS) is now looking to raise a hefty $3.35B through its Hong Kong IPO of its Macau business, close to double the $1.63B Wynn Resorts (WYNN) raised earlier this month in a similar move. Sands has struggled with a heavy debt load, and is looking to seize the opportunity while the IPO window is open. 2 Comments

• Friday, October 30, 2009

• 12:21 PM Sources say Las Vegas Sands (LVS +3.1%) has received approval from the Hong Kong stock exchange for a $2B-3B IPO of its Macau unit. Sands will kick off pre-marketing next week, and launch its roadshow on Nov. 9, with a trading debut set for the end of November. Goldman Sachs (GS), Citigroup (C) and UBS (UBS) are coordinating. 1 Comment
• 09:00 AM Premarket gainers: GNW +13%.% RVSN +11%. EL +8%. LVS +8%. VVUS +8%. AIXG +7%. YRCW +5%. MGM +5%. CMI +4%. SHPGY +4%.
  Losers: NVTL -19%. SMP -12%. ALU -8%. MTW -7%. CIT -6%. CBEH -7%. Comment!

• Thursday, October 29, 2009

• 16:10 PM Las Vegas Sands (LVS): Q3 EPS of $0.03 beats by $0.04. Revenue of $1.1B (+3%) in-line. Shares -3.9% AH. (PR) Comment!
• 09:00 AM Premarket gainers: AMSC +15%. AIXG +12%. RBS +12%. PQ +11%. LYG +10%. AKAM +10%. MITI +10%. ING +9%. FNM +8%. ABK +8%. CTIC +8%. DB +8%. FITB +7%. FRE +7%. SWSI +7%. BCS +6%. MOT +6%. IRE +6%. ALU +6%. TCK +5%. RCL +5%. RTP +5%. CS +5%. HL +5%. ACGY +5%. MT +5%. GNW +5%. HGSI +5%. FAS +5%. GOLD +5%. LVS +5%. HIG +5%. MGM +4%. CNO +4%. ASML +4%. NCS +4%. LCC +4%. VALE +4%. PG +4%.
  Losers: FSLR -15%. BCRX +4%. FLS -4%. Comment!
• 00:10 AM Notable post-market earnings: AB, BMC, BYI, CLF, DTE, ELY, GNW, HTZ, IM, KLAC, LVS, MET, MFE, MHK, MTW, MXIM, PKI, POM, RGC, RNWK, SBAC, SPF, STAR, SWN, VAR Comment!

• Thursday, October 15, 2009

• 09:00 AM Premarket gainers: ACOR +51%. CIT +11%. PLX +7%. HEB +4%. TSEM +4%.
  Losers: MNI -15%. NOK -8%. GNBT -7%. AIB -5%. AIXG -5%. COF -5%. IRE -4%. LVS -4%. GFI -4%. HOG -4%. Comment!

• Monday, October 12, 2009

• 18:25 PM Macau met with its six casino operators to discuss the growth of the gambling industry, including limits on the number of tables - sending shares down for Wynn Resorts (WYNN -2.9%), Las Vegas Sands (LVS -1.8%), Melco Crown Entertainment (MPEL -3.8%) and MGM Mirage (MGM -1.6%). 1 Comment

• Friday, October 2, 2009

• 09:00 AM Premarket gainers: CIT +8%. HEB +4%.
  Losers: AEG -8%. PCX -7%. HOV -7%. PGH -7%. ING -6%. AIB -6%. FIG -6%. MGM -6%. CVM -6%. LVS -5%. LYG -5%. RTP -5%. FRE -5%. ALU -5%. CNO -4%. SYN -4%. F -4%. FNM -4%. AMD -4%. RF -4%. ABK -4%. HIG -4%. SVA -4%. MU -4%. NOK -4%. Comment!

• Wednesday, September 16, 2009

• 09:00 AM Premarket gainers: OMTR +25%. CVM +18%. HEB +8%. HL +6%. APC +6%. KAD +5%. NXG +5%. HMY +5%. HBC +4%. LVS +4%. LCC +4%. CAL +4%. AIG +4%. AUY +4%.
  Losers: IRE -4%. Comment!

• Tuesday, September 15, 2009

• 09:00 AM Premarket gainers: MSO +9%. TER +8%. RCL +5%. MGM +4%. LVS +4%. GNW +4%. NXG +4%.
  Losers: KR -6%. ING -3%. Comment!

• Friday, September 11, 2009

• 08:02 AM Wynn Resorts (WYNN) gets the go ahead from Hong Kong regulators to sell 20% of its Macau operations into a $1B IPO. Bookrunners: JPMorgan (JPM), Morgan Stanley (MS) and UBS (UBS). Rival Las Vegas Sands (LVS) is also looking to launch a similar-sized IPO later this year. Comment!