Market Currents

• Monday, November 30, 2009

• 11:47 AM MGM Mirage (MGM) opens its $8.5B, 67-acre City Center resort development on the Las Vegas Strip tomorrow in hopes it marks the end of the debt crisis that nearly sank the company. Certainly a concern, since the project's co-owner is Dubai World, but MGM chief Jim Murren says the joint venture is inoculated from default even if a parent defaults. 1 Comment

• Friday, November 27, 2009

• 09:00 AM Premarket gainers: Short ETFs (EDZ, DTO, SCO, TZA, FXP, EEV, FAZ, SPXU BGZ, VXX, TWM, SMN...)
  Losers: ING -18%. LYG -11%. CBAK -8%. MGM -8%. NG -8%. SQNM -8%. MBI -7%. AIB -7%. HBC -7%. BCS -7%. RBS -7%. TS -7%. HL -7%. APWR -7%. RTK -7%. SNV -7%. MPEL -7%. CHLN -6%. PMI -6%. AEG -6%. DB -6%. KGC -6%. IAG -6%. NBG -6%. EGO -6%. ESLR -6%. AU -6%. NLST -6%. EGLE -6%. JASO -6%. EXM -6%. SOLF -6%. AUG -6%. 1 Comment

• Monday, November 16, 2009

• 09:00 AM Premarket gainers: NABI +33%. IBKC +23%. NLST +16%. S +8%. ABK +6%. STP +6%. SOL +6%. FRO +5%. RTP +4%. QTWW +4%. C +4%. MT +4%. HL +4%. RFMD +4%. RCL +4%. SNV +4%. MGM +4%.
  Losers: TBV -22%. ADY -19%. PWRD -5%. AIB -5%. BZH -5%. TRW -4%. IRE -4%. Comment!

• Thursday, November 5, 2009

• 09:00 AM Premarket gainers: LAMR +16%. R +16%. ONNN +8%. DYN +7%. DIRI +7%. IRE +5%. BCRX +5%. NVAX +5%. MGM +5%. PCS +5%. CTIC +4%. CVM +4%. ING +4%. TRA +4%. QCOM +4%. AIB +4%. FNM +4%. CSCO +4%. CNO +4%. AMMD +4%.
  Losers: CVS -10%. AEO -10%. ARO -10%. WFMI -10%. DPTR -9%. BEE -8%. CF -7%. ATPG -7%. ABK -6%. Comment!
• 08:57 AM MGM Mirage (MGM): Q3 EPS of $0.02 beats by $0.10. Revenue of $1.71B (-12.7%) vs. $1.47B. Las Vegas Strip RevPAR fell 21%. Amends credit facility to refinance existing debt and provide more debt of up to $1B. Shares +5.7% premarket. (PR) Comment!
• 00:05 AM Notable premarket earnings: ALD, BVF, CAH, CDE, CI, CNQ, CTL, CVS, DNR, DPS, DPTR, DTV, DYN, FTO, GNA, HK, KG, KIM, LAMR, MAC, MF, MGM, NDAQ, OCR, PCS, PXP, RRI, SE, SIRI, SLE, TDC, TWC, WEN, WW Comment!

• Wednesday, November 4, 2009

• 09:00 AM Premarket gainers: GNVC +36%. ABK +26%. PACR +25%. IRE +20%. ACAS +18%. AIB +11%. MBI +9%. PMI +8%. ARNA +7%. HIG +7%. RDN +6%. EXM +6%. ALU +6%. MPEL +6%. XOMA +5%. IBN +5%. MGM +5%. GRMN +5%. DRIV +4%. FAS +4%. FRE +4%. RCL +4%. ING +4%. VGZ +4%.
  Losers: STEC -31%. VG -8%. CVM -6%. CCI -6%. BHI -4%. Comment!

• Tuesday, November 3, 2009

• 09:00 AM Premarket gainers: BNI +29%. BDK +24%. KSU +11%. XOMA +7%. CSX +7%. UNP +7%. NSC +7%. SPPI +7%. BZ +6%. CTSH +5%. SWK +5%. BEXP +4%.
  Losers: HEB -17%. AIB -16%. RBS -10%. UBS -7%. HEP -6%. WYN -5%. RCL -5%. FOE -5%. CTIC -4%. VALE -4%. AEG -4%. F -4%. HGSI -4%. MGM -4%. STD -4%. MU -4%. Comment!

• Friday, October 30, 2009

• 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

• 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!

• Tuesday, October 20, 2009

• 11:24 AM MGM Mirage (MGM +2%) to take a nearly $1B charge to write-down the value of its massive Vegas CityCenter project, saying the carrying value of its residential inventory is not recoverable. Meanwhile, controlling shareholder Tracinda says it's exploring "other alternatives" to its investment in the gambling and resort giant. Comment!
• 09:00 AM Premarket gainers: MPS +22%. BPAX +11%. LXK +9%. IRE +8%. AAPL +6%. NVAX +5%. CAT +6%. UAUA +6%. MGM +5%. HGSI +5%. UNH +4%. BK +5%. PH +5%. AIB +4%. PSO +4%. BTU +4%.
  Losers: MI -8%. FRE -7%. BSX -7%. Comment!

• Friday, October 16, 2009

• 12:24 PM The threat of table limits and other restrictions in Macau hasn't cooled casino ardor, as MGM Mirage's (MGM) Macau unit plans expansion and considers an initial public offering. 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

• 09:25 AM MGM Mirage (MGM) gets a concession from its lenders, allowing it to skip interest payments on nearly $4B in debt for three months. Shares are down 6% premarket; it's not exactly comforting that MGM needed to come on to this. 1 Comment
• 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!