Previous close | 36.96 |
Open | 37.90 |
Bid | 37.76 x 2200 |
Ask | 37.99 x 800 |
Day's range | 37.47 - 38.23 |
52-week range | 33.44 - 48.25 |
Volume | |
Avg. volume | 4,562,506 |
Market cap | 11.467B |
Beta (5Y monthly) | 2.24 |
PE ratio (TTM) | 14.19 |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | 08 Dec 2022 |
1y target est | N/A |
US stocks continued to rally as investors digested the Federal Reserve's rate cut with the Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) closing at record highs. Josh Lipton and Julie Hyman take a look back at the day's market moves and the top trends on investors' minds on Market Domination Overtime. Morgan Stanley Investment Management co-CIO of global balanced funds Jim Caron joins to discuss the Fed's move and what it means for markets. Amid the artificial intelligence (AI) boom, power has become a key concern given the energy-intensive demands of data centers. Schneider Electric (SU.PA, SBGSY) CEO Peter Herweck sits down with Yahoo Finance to discuss the energy needs of AI infrastructure and how it's driving demand. After Nike (NKE) announces its CEO, John Donahoe, is stepping down to be succeeded by Elliott Hill, Yahoo Finance executive editor Brian Sozzi joins the Market Domination Overtime team to examine what the news means for the company and its investors. MGM Resorts International (MGM) president and CEO Bill Hornbuckle outlines the hotel-casino operator's performance and outlook for Yahoo Finance. This post was written by Naomi Buchanan.
MGM Resorts International (MGM) President and CEO Bill Hornbuckle joins Josh Lipton from the Skift Global Forum to discuss the hotel-casino operator's performance and outlook. While investors worry if Las Vegas has hit its peak, Hornbuckle explains that it ebbs and flows. He notes that MGM had an "amazing year" in 2023 and kicked off 2024 strong with major events like the Super Bowl and Formula 1 racing. He adds that the company's convention business remains strong, and that event activity "has never been stronger." "Our ability as a destination to run in the low 90s has never ceased. Even during the 2008 Great Recession, it went down to 82%. So driving traffic, driving people is kind of what we do, and we do it well," Hornbuckle says. While inflation has pressured the consumer, Hornbuckle highlights that MGM has continued to see success among higher-end consumers: "Our ability to drive event activity, drive average rates on the weekends has been very strong. Although other side of the spectrum, we have eight regional casinos, all performing on par as best as they've ever performed. And so obviously that tends to attract a different clientele base." He adds that over half of MGM's visitation comes from event activity, saying, "People have always wanted and needed an excuse to come to Las Vegas, and we continue to provide it." He points to the success of Allegiant Stadium, as it puts on events from football games to Taylor Swift concerts. Amid a weak economy in China, Hornbuckle explains the company has reached a "plateau" in the market. He expects the value of Macau's betting market to fall to $25 or 26 billion from its pre-pandemic $35 billion. "Our particular company has plateaued in terms of share. We now enjoy mid-teens in terms of market share. So we're equally as excited by that," he says. With competition from names like FanDuel (FLUT) and DraftKings (DKNG), Hornbuckle argues that what sets MGM apart is its ability to "bring things to life, to then bring you to Las Vegas." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Melanie Riehl
MGM Resorts' BetMGM inks a multi-year deal with USA TODAY Sports to deliver integrated sports betting odds and information across a vast network.