LVS posted 3Q results lower than Wall Street targets, due to high winnings by gamblers and costs of opening new properties. Shares dropped nearly 15%.
A Morgan Stanley analyst revised his Macau gaming revenue projections from 75% to 35%, causing a selloff in shares of both LVS and WYNN [1].
Beginning with Las Vegas revenue numbers for July and a price target increase from a JP Morgan analyst [1], shares of LVS broke out of their previous range. Several analysts raised their targets in the following few days [2].