23 stories mentioning MGM
Every FINWIRES story that references MGM, newest first.
MGM Resorts International (MGM) has an average rating of overweight and mean price target of $47.06, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
US equity indexes were higher on Monday after President Donald Trump said Israel and Hezbollah will cease fighting in Lebanon.* Trump has spoken separately with Israeli Prime Minister Benjamin Netanyahu and Hezbollah representatives, multiple media reports cited the US president as saying. The growing conflict between Israel and Hezbollah in Lebanon will stop, Trump was cited as saying.* Trump, who last week received a framework for a peace agreement with Iran, sent back changes to the proposed deal, officials said, insisting on tougher language about Tehran's nuclear and Strait of Hormuz reopening commitments, CNN reported.* The Institute for Supply Management's US manufacturing index rose to 54.0 in May from 52.7 in April, compared with expectations for 53.0 in a survey compiled by Bloomberg.* The S&P Global US manufacturing index for May was revised down to 55.1 from the flash 55.3, compared with expectations of no revision in a Bloomberg-compiled survey.* July West Texas Intermediate crude oil rose $5.22 to settle at $92.58 per barrel, while August Brent crude, the global benchmark, was last seen up $4.21 at $95.33.* MGM Resorts International (MGM) shares were up roughly 16%, the highest on the S&P 500, after the company confirmed that it received an offer from People Inc. (IAC) to acquire all MGM shares that it does not already own for $48.30 per share in cash.* Constellation Energy (CEG) shares were down about 7.6%, among the lowest on S&P 500 and Nasdaq, after the company said it has priced an underwritten secondary offering of 11 million shares at $281 apiece.
Consumer stocks were lower late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 2%.In corporate news, the United Auto Workers has called a strike at a Michigan factory owned by Dauch (DCH), a supplier of axles and driveline components for General Motors (GM) pickup trucks. GM shares were down 0.5%, and Dauch fell nearly 5%.MGM Resorts International (MGM) shares jumped past 16% after the firm confirmed that it received an offer from People Inc. (IAC) to acquire all MGM shares that it does not already own for $48.30 per share in cash.Taylor Morrison Home (TMHC) shares surged 22% after the homebuilder agreed to be acquired and taken private by conglomerate Berkshire Hathaway (BRK.A, BRK.B) in an all-cash deal with an equity value of about $6.8 billion.Winnebago Industries (WGO) shares fell 2% after Northcoast downgraded the stock to neutral from buy.
IAC's (IAC) proposal to acquire the remaining shares of MGM Resorts International (MGM) could create potential value upside if completed, though the bid may also reflect a broader valuation disconnect in MGM shares and raise questions around strategic intent, Truist Securities said Monday.The brokerage said it views the announcement with "cautious optimism" for IAC, noting that bringing MGM fully under its ownership and control could improve operations and reduce investor scrutiny, while also addressing a common investor concern around indirect exposure to MGM through IAC.At the same time, Truist questioned whether the proposal represents a shift in strategy or simply takes advantage of valuation dislocation, given IAC's long-standing ownership stake and board involvement in MGM."IAC has been an active shareholder and board member for many years now, which makes us wonder whether this bid has to do with changing anything fundamental or just taking advantage of valuation dislocation," the brokerage said.Truist maintained its buy rating and $55 price target on MGM.Shares of MGM were up more than 17% in Monday afternoon trading.Price: $51.29, Change: $+7.62, Percent Change: +17.45%
Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 2.1%.In corporate news, MGM Resorts International (MGM) shares jumped past 15% after the firm confirmed that it has received an offer from People Inc. to acquire all MGM shares that it does not already own for $48.30 per share in cash.Taylor Morrison Home (TMHC) shares surged 22% after the homebuilder agreed to be acquired and taken private by conglomerate Berkshire Hathaway (BRK.A, BRK.B) in an all-cash deal with an equity value of about $6.8 billion.Walmart (WMT) is capping its staff's usage of an artificial intelligence agent following a period of high demand, Bloomberg reported. The retail giant is now offering a limited amount of "tokens" per worker to use the AI agent, called Code Puppy, which helps employees with spreadsheets and presentations, among other tasks, the report said. Walmart shares were down 1.5%.
MGM Resorts International (MGM) shares soared 16% amid heavy trading after the company confirmed on Monday that it received an offer from People Inc. to acquire all outstanding MGM shares that it does not already own for $48.30 per share in cash.More than 16.4 million shares of the company traded intraday compared with a daily average of about 4.8 million.Sphere 3D (ANY) has completed its business combination with Cathedra Bitcoin, forming a scaled digital infrastructure platform with 53 megawatts of operating capacity and an over 100-megawatt potential expansion pipeline, the company said Monday.Shares more than doubled as intraday trading volume catapulted to over 101.7 million from a daily average of about 590,000.Salesforce (CRM) said Monday it plans to invest $2 billion in France through 2030 to expand its artificial intelligence and cloud operations.Shares jumped 10% amid a surge in intraday trading volume to over 17.4 million from a daily average of roughly 13.6 million.Price: $210.05, Change: $+18.95, Percent Change: +9.92%
Consumer stocks were lower Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 2.1%.In corporate news, MGM Resorts International (MGM) shares jumped past 15% after the firm confirmed that it has received an offer from People Inc. to acquire all MGM shares that it does not already own for $48.30 per share in cash.
(Updates with latest stock price movement in the headline and first paragraph, and MGM Resorts' confirmation in the first two paragraphs.)MGM Resorts International (MGM) shares were up 14.3% in Monday trading after the company confirmed that it received an offer from People Inc. to acquire all outstanding MGM shares that it does not already own for $48.30 per share in cash.MGM said its board, along with financial and legal advisors, will review the proposal and that there is no assurance that an agreement would be reached.People Inc. said earlier Monday it submitted a non-binding proposal to acquire all outstanding MGM Resorts shares it doesn't already own for $48.30 per share, representing a 24.1% premium to the volume-weighted average price of MGM common stock for the 30 trading days ended May 29.Price: $49.93, Change: $+6.26, Percent Change: +14.32%
The Dow Jones Industrial Average was down, while the S&P 500 Index and Nasdaq Composite were roughly flat in late-morning trading Monday, as oil prices rose after Iranian state media disclosed that Iran would halt messages with the US over Israel's military operations in Lebanon.In company news, Nvidia (NVDA) said Monday it has launched RTX Spark, a new AI chip that will feature in Microsoft (MSFT) Windows laptops and desktop personal computers. The chip features an Nvidia Blackwell RTX graphics processing unit, 1 petaflop of AI compute and 128gb of unified memory, Nvidia said. RTX Spark will power its Windows laptops, including Microsoft Surface, and those of its PC partners ASUS, Dell (DELL), HP (HPQ), Lenovo and MSI, Microsoft said in a blogpost. Nvidia shares were up 3.9%, while those of Microsoft, Dell and HP were up 2.0%, 8.5% and 7.2%, respectively.People Inc. said Monday it has submitted a non-binding proposal to acquire all outstanding MGM Resorts International (MGM) shares it doesn't already own for $48.30 per share in cash. The proposal represents a 24.1% premium to the volume-weighted average price of MGM common stock for the 30 trading days ending on May 29, People said. MGM shares were up 16.5%.Taylor Morrison Home (TMHC) has agreed to be acquired by Berkshire Hathaway (BRK.A, BRK.B) for $6.8 billion in cash and a total enterprise value of about $8.5 billion, the companies said Sunday. Berkshire will pay $72.50 per share, a 24% premium to Taylor Morrison's latest closing price of $58.50 on May 29, the companies said. The deal is expected to close in H2, at which point Taylor Morrison will continue to be managed by its existing management team, the companies said. Taylor Morrison shares were up 22.6%, while Berkshire's Class A and Class B shares were down 0.7% and 0.8%, respectively.Constellation Energy (CEG) has priced an underwritten secondary offering of 11 million shares at $281 apiece, the company said Monday. Underwriters have a 30-day option to buy an extra 1.35 million shares, and Constellation said it will repurchase 2 million shares from the underwriters at the offering price under its existing buyback program. Constellation shares were down 5.8%.Salesforce (CRM) said Monday it will invest $2 billion in France through 2030, including the launch of an AI Innovation Hub in Paris for developing, testing and deploying AI applications. Salesforce shares were up 10.2%.Price: $219.23, Change: $+8.09, Percent Change: +3.83%
MGM Resorts International (MGM) has an average rating of overweight and mean price target of $45.26, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $48.57, Change: $+4.90, Percent Change: +11.22%
Consumer stocks were lower pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) slipping 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.8%.Taylor Morrison Home (TMHC) has agreed to be acquired by Berkshire Hathaway (BRK.A, BRK.B) for $72.50 per share in cash and a total enterprise value of about $8.5 billion, the companies said. Taylor Morrison Home shares were up more than 22% premarket.People Inc. said Monday it has submitted a non-binding proposal to acquire all outstanding MGM Resorts International (MGM) shares it doesn't already own for $48.30 per share in cash. MGM Resorts International stock was advancing past 11% pre-bell.iHuman (IH) agreed to acquire the businesses and assets of two AI-powered apps, All Knowledge and Perfect Lingo, for 94.0 million Chinese renminbi ($13.9 million), the company said. iHuman shares were up more than 2% premarket.
US equity indexes were higher on Wednesday after a decline in crude oil prices and government bond yields amid ongoing negotiations to end the US-Iran war.* A memorandum of understanding being negotiated between Tehran and Washington calls for US forces to withdraw from Iran's vicinity and lift the blockade of Iranian ports in return for reopening the Strait of Hormuz to pre-war levels, CNN reported, citing Iranian state television.* The Richmond Fed's monthly manufacturing index rose to 13 in May from 3 in April, more than the 4 estimate in a Bloomberg-compiled survey.* July West Texas Intermediate crude oil fell $4.34 to settle at $89.55 per barrel, while July Brent crude, the global benchmark, was last seen down $4.41 at $95.17.* MGM Resorts International (MGM) shares were up about 9%, the second biggest gainer on the S&P 500, after JPMorgan and Truist upgraded the stock and lifted their price targets.* Boston Scientific (BSX) shares were down nearly 12%, the worst performer on the S&P 500, after Chief Executive Mike Mahoney said at an industry conference that this year has been "a bit more of a challenge" than anticipated. Stifel and Goldman Sachs also lowered their price targets for the stock.
MGM Resorts International (MGM) shares were up over 9% in afternoon trading on Wednesday after JPMorgan upgraded the stock to overweight from neutral and raised its price target to $46 from $41.Separately, Truist also upgraded MGM to buy from hold and lifted its price target to $55 from $42.Trading volume stood at more than 6.0 million shares, against a daily average of around 4.6 million.Price: $41.98, Change: $+3.53, Percent Change: +9.18%
MGM Resorts International (MGM) has an average rating of overweight and mean price target of $44.58, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
MGM Resorts International (MGM) has an average rating of overweight and mean price target of $44.58, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
MGM Resorts International (MGM) has an average rating of overweight and mean price target of $44.42, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $36.60, Change: $-0.50, Percent Change: -1.33%
MGM Resorts International (MGM) has an average rating of overweight and mean price target of $43.94, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $39.19, Change: $-0.09, Percent Change: -0.22%
MGM Resorts International (MGM) has an average rating of overweight and mean price target of $43.94, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $39.19, Change: $-0.09, Percent Change: -0.22%
MGM Resorts International (MGM) has an average rating of overweight and mean price target of $43.94, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $39.19, Change: $-0.09, Percent Change: -0.22%
MGM Resorts International (MGM) has an average rating of overweight and mean price target of $43.94 according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $38.42, Change: $-0.85, Percent Change: -2.16%
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