Wynn Resorts, Limited (NASDAQ:WYNN) shot up Monday after Harry Curtis of Instinet said that gross gaming revenue out of Macau, China fell less than expected. The resort casino chain brought in about 75% of its revenue from Macau in 2018, according to an SEC filing. Gross gaming revenue fell 0.4% in March, per MarketWatch, much less than the 3.2% analysts projected. As a result, Wynn was the biggest gainer on both the NASDAQ and the S&P 500.
Investors were all-in, raising the share price 8.4% to close at $129.34.
Lyft Inc (NASDAQ:LYFT) stock fell back to Earth Monday after its red-hot IPO on Friday. The ride-sharing company set its IPO price at $72, and trading opened at $87.24, the biggest American IPO in five years. Now, the stock is down nearly $20 from its opening high. Meanwhile, Cboe Global Markets Inc (BATS:CBOE) announced it plans to list options on the San Francisco company’s stock on Thursday, per MarketWatch.
Investors made a U-turn, pushing the share price down nearly 12% to $69.01.
Kellogg Company (NYSE:K) stock slipped after the cereal maker announced Monday it would sell the Keebler cookie brand to Ferraro Group, the Italian company that owns Nutella, for $1.3 billion. Famous Amos brand cookies were also included in the sale, along with other brands of cookies, snacks, pie crusts and ice cream cones. In 2018, the brands being sold earned an operating profit of about $75 million on net sales of nearly $900 million.
The stock crumbled 2.4% to end at $56.02.
Merck & Co., Inc. (NSYEMRK) stock rose Monday after the drugmaker announced its cancer drug Keytruda was approved in China to treat non-small cell lung cancer in combination with chemotherapy. Keytruda is now the first Anti-PD-1 to be approved for multiple tumor types in China. The drug was approved for advanced melanoma in July.
The stock got a clean bill of health, climbing 0.2% to $83.30.
Merck was also working with AstraZenica PLC (NYSE:AZN) to co-develop MEK 1/2 inhibitor called Selumetinib that received a Breakthrough Therapy Designation in the US on Monday. The designation is for treatment of children with Neurofibromas Type 1, a genetic condition that causes tumors to grow along nerves. The UK drugmaker earned the designation based on promising Phase 2 data presented in 2018.
Shares jumped 2.1% to $41.28.
StoneCo Ltd (NASDAQ:STNE) rallied after the company announced Monday an additional public offering of its common stock along with preliminary first-quarter results. The Brazilian financial technology company is selling nearly 18 million shares but declined to specify a price. Meanwhile, the company expects to bring in total revenue between US$136.8 million and US$137.5 million compared with Street expectations of US$141 million and up from US$111.1 million the previous year.
The share price swung up 4.4% to finish at $42.93.
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