About MGM Resorts International Common Stock (MGM)
MGM Resorts International is a global hospitality and entertainment company that operates a diverse portfolio of destination resorts, casinos, and hotels, primarily in the United States and Macau. The company is renowned for its luxurious accommodations, expansive gaming facilities, and a wide range of dining, entertainment, and leisure options, catering to both leisure and business travelers. MGM Resorts focuses on providing a unique guest experience with its iconic properties, rich entertainment offerings, and commitment to sustainability and community engagement. Through its various brands and innovative experiences, the company aims to create memorable moments and a vibrant atmosphere for its guests. Read More
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MGM Resorts trades at $37.93 per share and has stayed right on track with the overall market, gaining 7.8% over the last six months. At the same time, the S&P 500 has returned 8.1%.
Shares of hospitality and casino entertainment company MGM Resorts (NYSE:MGM)
jumped 4.8% in the afternoon session after Federal Reserve Chair Jerome Powell hinted that interest rate cuts could be on the horizon. The positive sentiment spread across Wall Street, with the Dow Jones Industrial Average soaring over 900 points on hopes that the U.S. Federal Reserve may cut interest rates. The potential for lower rates often encourages consumer spending, which benefits travel and entertainment companies. This trend was seen across the sector, with peers like Caesars Entertainment also rising 6.3%, and travel companies such as Norwegian Cruise Line and Delta Air Lines experiencing significant gains as investors anticipated increased household spending on leisure activities.
Stocks trading between $10 and $50 can be particularly interesting as they frequently represent businesses that have survived their early challenges.
However, investors should remain vigilant as some may still have unproven business models, leaving them vulnerable to the ebbs and flows of the broader market.
Hospitality and casino entertainment company MGM Resorts (NYSE:MGM) reported Q2 CY2025 results beating Wall Street’s revenue expectations, with sales up 1.8% year on year to $4.40 billion. Its non-GAAP profit of $0.79 per share was 42.7% above analysts’ consensus estimates.
MGM Resorts’ second quarter delivered revenue growth and an adjusted profit well ahead of Wall Street expectations, but the market responded negatively due to a significant shortfall in adjusted EBITDA. Management highlighted the benefits of MGM’s diversified portfolio, with international and digital segments offsetting softness in Las Vegas. CEO Bill Hornbuckle pointed to ongoing room renovations at MGM Grand and weaker midweek performance at value-oriented Las Vegas properties as the main drags on domestic results, while he noted record performance in China and regional markets as key supports.
A number of stocks jumped in the afternoon session after the latest Consumer Price Index (CPI) report showed inflation holding steady, bolstering investor optimism for a potential interest rate cut by the Federal Reserve. The data, which revealed that inflation remained at 2.7% for the year ending in July, was seen as a positive sign by investors. This stability increases the likelihood that the Federal Reserve might lower interest rates at its upcoming September meeting. Lower interest rates can stimulate the economy by making borrowing cheaper for both consumers and businesses, which often translates into higher consumer spending. This is particularly beneficial for the Consumer Discretionary sector, which includes companies selling non-essential goods and services like apparel, travel, and electronics.
Shares of digital media conglomerate IAC (NASDAQGS:IAC) fell 13.5% in the afternoon session after the company reported second-quarter revenue that fell short of analyst expectations, overshadowing a significant profit. The media and internet company’s revenue landed at $586.9 million, a 7% drop from the year-ago period. This decline stemmed from weakness in several key areas. Although IAC recorded a profit of $2.57 per share, a stark reversal from last year's loss, this figure included a large unrealized gain from its investment in MGM Resorts International. Investors appeared to focus on the operational weakness rather than the investment-driven profit.
Amazon (NASDAQ: AMZN), a name synonymous with e-commerce and technological innovation, has transformed from a humble online bookstore into one of the world's most influential and diversified companies. Founded on the premise of leveraging the burgeoning internet economy, Amazon has relentlessly pursued customer obsession, long-term thinking, and a passion for
Hospitality and casino entertainment company MGM Resorts (NYSE:MGM) beat Wall Street’s revenue expectations in Q2 CY2025, with sales up 1.8% year on year to $4.40 billion. Its non-GAAP profit of $0.79 per share was 42.7% above analysts’ consensus estimates.
