Las Vegas Sands (LVS) Macau unit, Sand China raised $2.5 billion through its Hong Kong initial public offering (IPO). The company has priced the IPO for 1.87 billion shares at HK$10.38 per share, the low end of the expected HK$10.38-HK$13.88 range. The proceeds from this offering, combined with $1.75 billion in bank financing, would aid Sands China to restart its Macau's Cotai Strip construction projects. Last year, the company was forced to halt its casino expansion projects in Macau due to financial constraints, at which time it laid off 11,000 workers. The IPO is being handled by five investment banks. Citigroup (C) and Goldman Sachs (GS) are the joint global coordinators for the offer while Barclays PLC (BCS), BNP Paribas SA and UBS AG (UBS) are the underwriters. Earlier, in October, rival company Wynn Resorts (WYNN) had held its IPO ...

Las Vegas Sands Corporation (LVS) is planning for a Hong Kong initial public offering (IPO) for its Macau assets next month. The company intends to raise up to $2.5 billion through the IPO. The offering is intended to complete in about four weeks after receiving regulatory approval for offering and listing. In September, Las Vegas announced the infusion of up to $600 million of capital through the sale of exchangeable bonds to strengthen up its balance sheet. The bonds will be compulsorily exchanged into common stock of its Macau unit after the unit's pending IPO on the Hong Kong Stock Exchange. Rival company Wynn Resorts (WYNN) held its IPO for its Macau assets earlier in October. Wynn Macau has experienced a strong debut in the Hong Kong stock exchange. Wynn sold 1.25 billion shares or a 25% stake in its Macau business, which represented Hong ...

• Wynn Resorts (NASDAQ:WYNN) said an initial public offering of the firm's Macao operations was priced at the top end of its expected range. The company plans to sell a 25% stake in the unit, at HK$10.08 per share, for a total of $1.6 billion

• Goldman Sachs (NYSE:GS) upgraded Nike (NYSE:NKE) to buy with a target price of $75. The company reported fiscal first quarter earnings of $1.04 per share, up from last year's $1.03 and beat Zacks estimates of 99 cents a share. Revenues fell 12% to $4.8 billion from $5.4 billion a year earlier

• Toyota (NYSE:TM) announced plans to recall 3.8 million vehicles due to potential accelerator pedal problems from floor mats

• Disney (NYSE:DIS) announced publishing unit plans for DisneyDigitalBooks.com, a new subscription-based web service

• Hewlett-Packard (NYSE:HPQ) said it is planning to merge its PC and print operations

• Sony (NYSE:SNE) announced plans to unveil its new Playstation3 game

...

Casinos Returning to Blue Chip Status

It’s been no secret that we’ve been bullish on the casino sector for some time. From Doubling down on Casinos and Bank Pullback Exposes Casino Opportunities in April, there has been a lot of potential.

Last week we asked if the casino sector had gotten too hot. And for many, the increase would suggest that. But as we discussed in “Are Casino Stocks a Gamble Right Now?,” just by looking at the prices from last year, we still have a ways to go.

So far this month we’ve seen the big-three casino operators charge ahead. Wynn Resorts (Nasdaq: WYNN) added 29%; Las Vegas Sands (NYSE: LVS) added 30% and MGM Mirage (NYSE: MGM) charged ahead with a 53% gain.

But there’s been another piece of

...

• Dell (NASDAQ:DELL) revealed plans to acquire Perot Systems (NYSE:PER) –founded my former U.S. Presidential candidate, Henry Ross Perot- for about $3.9 billion, or $30 per share in efforts to expand beyond its core computer business to include computer-services consulting. • Wynn Resorts (NASDAQ:WYNN) has responded to positive reactions to its plans for an initial public offering in Hong Kong of its Macau casino operations, increasing the size of proceeds to about $1.6 billion from $1 billion of a few weeks earlier. • Credit Suisse (NYSE:CS) lifted its rating on Novellus Systems (NASDAQ:NVLS) to "outperform" from "neutral" with a price target of $29, up from $23. • Lennar Corp (NYSE:LEN) reported a 3rd quarter loss of 97 cents, including 76 cents in charges, versus estimates of a $0.48 cent loss, compared with a 56 cent loss last year. • Synnex Corp (NYSE:SNX) is scheduled to report earnings today, with an ...

Just a little digression tonight, the Megamillions jackpot is up to $252 million tonight and I thought it’d be fun to do a little quick analysis of your chances of winning. For those that don’t know, the game is played by choosing five numbers from a set of 1 to 56 (without reptition) and then a “megaball” number between 1 and 46.

So, for those that know a little about probability, there are (56C5)*46=175,711,536 different permutations of numbers that you can choose. Rather than go through all the probabilities of winning, the lottery actually publishes its own listing of probabilities to help you out. Check it out below:

So, knowing these probabilities, let’s calculate expected values. Expected values are calculated simply by multiplying the expected result by the probability of it happening. Here’s how we would

...

A weak durable goods order report and a slide in commodity prices sent indices to a second consecutive day of light losses as stocks appeared vulnerable to a pullback in the absence of reassuring economic signs.  A search and advertising deal between Microsoft and Yahoo also received a cold response from investors even as the Federal Reserve contended that the severity of recession is easing in most parts of the country.  Also driving the markets lower were shares of oil and gas producers and basic material manufacturers as oil prices declined for another day.  Crude prices plunged $3.88 to $63.35 a barrel after the Energy Department reported a sharper-than-expected build in weekly crude inventories.  

On Tuesday, stocks had declined after a weaker-than-anticipated consumer confidence report and a lackadaisical response to the auction of 2-year notes drew investors to the selling table.  The trend continued Wednesday and treasuries moved lower

...

Last month the first ETF adhering to strict Islamic beliefs, Dow Jones Islamic Market International (NYSE: JVS), began trading.  Following Shariah law, the index excludes anything close to investing in “sin stocks” or firms that produce or market alcohol, tobacco, gambling, weapons, or pornography.

Investors are further assured that the stocks held in the index have nothing to do with borrowing or lending, women’s fashions, cosmetics, modern cinema, popular music, or pork.

Personally, I wouldn’t touch this fund with a barge pole. It is virtually guaranteed to earn sub-par returns.

Here’s why…

Investing in Sin Stocks vs. Socially Responsible Stocks

If you were given the choice six years ago between investing in the environmentally and socially responsible Sierra Club Stock Fund (Nasdaq: SCFSX) or investing in sin stocks with the Vice Fund (Nasdaq: VICEX), which invests primarily in tobacco, alcohol, defense and gambling, which would you have chosen?

I’ll give you a hint.

...

Investing in Sin Stocks: How to Oppose Radical Islam in Your Portfolio

by Alexander Green, Advisory Panelist

Last month the first ETF adhering to strict Islamic beliefs, Dow Jones Islamic Market International (NYSE: JVS), began trading.

Following Shariah law, the index excludes anything close to investing in “sin stocks” or firms that produce or market alcohol, tobacco, gambling, weapons, or pornography.

Investors are further assured that the stocks held in the index have nothing to do with borrowing or lending, women’s fashions, cosmetics, modern cinema, popular music, or pork.

Personally, I wouldn’t touch this fund with a barge pole. It is virtually guaranteed to earn sub-par returns.

Here’s why…

Investing in Sin Stocks vs. Socially Responsible Stocks

If you were given the choice six years ago between investing in the environmentally and socially responsible Sierra Club Stock Fund (Nasdaq: SCFSX) or investing in sin stocks with

...

Time to Bet on Casinos… Again

by The Investment U Research Team

Almost two months ago we wrote two articles on the valuations in Casino stocks MGM Mirage (NYSE: MGM) Las Vegas Sands (NYSE: LVS) and Wynn Resorts (Nasdaq: WYNN). Since then, prices have more than doubled and subsequently pulled back.

Their stock prices are resting close to the April levels we talked about in “Doubling down on Casinos” and “Bank Pullback Exposes Casino Opportunities.”

To say casinos have been on a roller coaster lately doesn’t begin to tell the whole picture. Casinos have been dealing with news of lowered traffic at Las Vegas, questionable Macau circumstances, refinancing and debt issues and a laundry list of other economic negatives.

But unlike GM or Chrysler, and

...