Pre-Market Report: Strong Global Markets, Improved Risk Appetite

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Part 4
Pre-Market Report: Strong Global Markets, Improved Risk Appetite PART 4 OF 6

Wynn Resorts Was the S&P 500’s Top Gainer on August 15

Top gainers

The top gainers in the S&P 500 on August 15, 2017, were:

  • Wynn Resorts (WYNN) rose 6.4%.
  • Synchrony Financial (SYF) rose 4.6%.
  • Range Resources (RRC) rose 4.1%.
  • Discover Financial Services (DFS) rose 2.3%.
  • Align Technology I (ALGN) rose 2.2%.

Wynn Resorts Was the S&#038;P 500’s Top Gainer on August 15

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Wynn Resorts 

Wynn Resorts, which develops and operates high-end hotels and casinos, was the S&P 500’s top gainer on Tuesday. Buying was triggered in Wynn Resorts on August 16 due to the release of Deutsche Bank’s report.

According to Deutsche Bank’s report, the increase in the walk-in business was observed after floor reconfigurations in China. Deutsche Bank upgraded Wynn Resorts from “hold” to “buy.” It also increased its 12-year price target from $138 to $150. The continuous improvement in strong premium mass traffic after the changes to the mass casino floor improved Wynn Resorts’ outlook. It increased the buying pressure in Wynn Resorts on Tuesday and pushed the price to three-week high levels.

On August 15, Wynn Resorts rose 6.4% and closed the day at 136.39.

Synchrony Financial

Synchrony Financial, which is a consumer financial services company, was the S&P 500’s second-best performer on Tuesday. The buying pressure increased after Berkshire Hathaway released its reports about its position in Synchrony Financial.

According to the regulatory filing, Warren Buffett’s Berkshire Hathaway acquired 17.5 million shares of Synchrony Financial. The position would make Berkshire Hathaway the ninth-largest holder in Synchrony Financial. The news made the stock rise to the highest levels since April 27.

On August 15, Synchrony Financial rose 4.6% and closed the day at 30.99.

In the next part, we’ll discuss the S&P 500’s top losers on August 15.


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