Today’s Research Reports on Stocks to Watch: Wynn Resorts and Philip Morris

NEW YORK, NY / ACCESSWIRE / February 9, 2018 / Wynn Resorts loses more of its market cap as Wall Street learns that shareholders have sued the company’s board for not investigating former CEO Steve Wynn’s sexual misconduct. Shares of Philip Morris sailed slightly higher despite missing on both the top and bottom line in its fourth quarter 2017 financial report.

RDI Initiates Coverage on:

Wynn Resorts, Ltd.
https://rdinvesting.com/report/?ticker=WYNN

Philip Morris International Inc.
https://rdinvesting.com/report/?ticker=PM

Wynn Resorts’ shares closed down 4.53% on about 5.3 million shares traded on Thursday. The company’s board is being sued by shareholders under the allegation that they knew for years that the founder and CEO of the company, Steve Wynn, was involved in sexual misconduct, but did not investigate. It was on Tuesday that Wynn resigned from his position after being accused of many acts of sexual misconduct with many women who have worked for him. While Wynn himself said all of the claims are “preposterous,” shareholders are not thrilled with the company not investigating prior. Veteran of the casino industry, Matt Maddox, has taken Wynn’s place as CEO of the company. He has been with the company since it was founded 16 years ago. Wynn stated, “With Matt, Wynn Resorts is in good hands. He and his team are well positioned to carry on the plans and vision for the company I created.” Since the report on Steve Wynn surfaced at the end of last month, shares of the stock have fallen almost 20%. According to the lawsuit, the board should have known of Wynn’s misconduct by 2015 when a lawsuit by Elaine Wynn accused her former husband of “reckless risk-taking behavior.”

Access RDI’s Wynn Resorts, Ltd. Research Report at:
https://rdinvesting.com/report/?ticker=WYNN

Philip Morris’ shares closed up 1.53% on Thursday with a little over 11 million shares traded. Though the stock ended in the green, the company missed in its fourth quarter earnings report. The cigarette company missed both the top and bottom line estimates in its Q4 2017 report. The company’s forecast for fiscal 2018 was also below what analysts had been expecting. For the fourth quarter, Philip Morris reported adjusted EPS of $1.31. This was below the $1.36 awaited by Wall Street. The bright side is that EPS was 19.1% higher than in the year ago period. Revenue at $8,294 million was also below the analyst estimate of $8,372 million. Shares may have risen yesterday was traders were more focused on the improvement the company has been seeing. Revenue was about 19% higher than the year ago period and cigarette shipments were also up by 2.7%. Since the start of the year, the seller of Marlboro has seen its shares drop about 5%.

Access RDI’s Philip Morris International Inc. Research Report at:
https://rdinvesting.com/report/?ticker=PM

Our Actionable Research on Wynn Resorts, Limited (NASDAQ: WYNN) and Philip Morris International Inc. (NYSE: PM) can be downloaded free of charge at Research Driven Investing.

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