PCX, TXT, WYNN, MGM, LVS, PNK, PENN, BYD Popular Stocks
U.S. stocks traded mixed Tuesday with the Dow Jones Industrial Average rose 14 points to 9882 but the S&P 500 down 4 points to 1063 and the Nasdaq composite down 26 points to 2116.
Patriot Coal Corp. (NYSE:PCX, $12.78, +$1.59, 14.21%) posted a surprise third-quarter profit, though earnings still fell 26%, as the coal producer posted higher sales and gains from shipments related to its acquisition of Magnum Coal.
Textron Inc.’s (NYSE:TXT, $19.67, +$1.31, 7.14%) third-quarter earnings fell 98% as the defense contractor and aircraft maker unexpectedly averted a loss, while it said full-year earnings will come in at the top end of its July guidance.
Wynn Resorts Ltd. (NASDAQ:WYNN, $56.13, -$6.94, -11.00%) third-quarter profit slid 33% due to higher interest costs and a lower income-tax provision benefit, which more than offset higher revenue and operating margins. Shares fell even as the results beat expectations. Analysts said some could be questioning the quality of the earnings, while Macau results were only in line and Las Vegas revenue per available room continues to be weak. Other gaming stocks trading lower included MGM Mirage (NYSE:MGM, $9.63, -$1.37, -12.45%), Las Vegas Sands Corp. (NYSE:LVS, $14.31, -$1.75, -10.90%), Pinnacle Entertainment Inc. (NYSE:PNK, $10.09, -$0.63, -5.88%) and Penn National Gaming Inc. (NASDAQ:PENN, $25.99, -$1.30, -4.76%). Boyd Gaming Corp. (NYSE:BYD, $8.78, -$1.90, -17.79%) also dropped after reporting weaker-than-expected third-quarter results.
Related Posts
