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After mixed trading for much of the session, US stocks closed in the green before the long Easter weekend, as the market absorbed a steady stream of new earnings information. Several individual names posted huge gains, notably Las Vegas Sands (NYSE: LVS), Nintendo (NASDAQOTH: NTDOY), and Pinterest (NYSE: PINS).
Las Vegas Sands Neighborhood
Shares of Las Vegas Sands first rose 4.6%, then stabilized around 0.5% after the casino and resort company reported strong first quarter results in 2019. The Revenues rose 1.9% year-over-year to $ 3.65 billion, while adjusted net income decreased 12.5% to $ 708 million, or $ 0.91. per action.
Most analysts expected earnings per share of 0.87 USD for a business turnover of 3.49 billion USD.
Source of the image: Getty Images.
The strength of Las Vegas Sands comes largely from the growth of its casinos and hotels in Macau, which together generated approximately 64% of its total sales and 59% of its adjusted real estate EBITDA during the quarter.
Nintendo Switch arrives in China
Nintendo shares climbed 12.2% after the announcement of the upcoming arrival in China of the Japanese video game giant's Switch console, via a partnership with Chinese Internet services and the game leader. video Tencent.
According to a press release issued by the regulators of the Chinese game industry, Tencent has received provisional approval to sell the Nintendo Switch console in the country as early as next week, in the expectation of 39, a comment period ending April 24, 2019.
Nintendo launched Switch on almost every other major gaming market in the world more than two years ago, but faced challenges in entering China's booming market due to the complexity of its regulatory environment. But analysts have long believed that the Switch, which can be used both as a console with large screens and as a mobile gaming system, could prove to be very popular in the mobile gaming sector in China.
Pinterest becomes public
Finally, Pinterest shares rose 28.4% on the first day of the company on public markets. After setting its initial public offering of 75 million shares at $ 19 a share last night – well above its own initial estimates, in a range of between $ 15 and $ 17 – the "virtual discovery engine" described below has soared to reach $ 24.43 today as investors embraced its growth prospects. This gives Pinterest a market capitalization of nearly $ 13 billion.
Pinterest currently has over 250 million monthly active users and has seen its business turnover climb 70% in 2018 to reach $ 756 million. But the company has not yet achieved sustained profitability as these sales resulted in a loss of $ 63 million last year. While it is not unusual for fast-growing technology companies to give up their profits as they invest to maintain their bottom line, I think investors would do well not to make a difference, given the disproportionate volatility usually accompanies the purchase of shares of newly opened companies.
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