Wynn stock price – wynn resorts ltd. stock quote (u.s. nasdaq) – marketwatch physical science electricity review worksheet


Activist investor Dan Loeb’s Third Point LLC acquired stakes in embattled Wynn Resorts Ltd. and United Technologies Corp. during the second quarter, according to regulatory filings on Tuesday. Hedge fund Third Point showed that it bought 7.1 million shares of United Tech worth about $893 million and 1.54 million shares of Wynn for about $280 million, according to filing tracker Whalewisdom.com. Meanwhile, Loeb sold his entire roughly 1.9 million share position in health-care provider Aetna Inc. , and increased his stake in Facebook Inc. to 4 million shares, adding 600,000 shares in the first three months of the year, according to filings. Facebook represents about 4.8% of Loeb’s holdings, United Tech represents 6.7% of the fund’s overall holdings, while Wynn makes up about 2.1%. The activist’s purchase of Wynn came amid a report by the Wall Street Journal that alleged sexual conduct by the gaming company’s founder and namesake Steve Wynn, which eventually resulted in him stepping down. Meanwhile, Loeb upped his stake in Facebook during the Cambridge Analytica scandal centered on the social network’s mishandling of user information. Large investors must disclose long stock positions held at the end of a quarter 45 days later in a 13F filing with the Securities and Exchange Commission. The filings only show long investments and because they are delayed don’t indicate if the investor exited the position at some point during the reporting period.

The board of Wynn Resorts on Wednesday urged shareholders to vote for its three independent directors at the company’s annual shareholder meeting on May 16. The board has filed a presentation with the Securities and Exchange Commission, rejecting Elaine Wynn’s "withhold the vote" campaign against director candidate John Hagenbuch. Elaine Wynn is the ex-wife of Steve Wynn, who was ousted in February after revelations of yearslong sexual abuse of employees. She is co-founder and biggest shareholder of the casino operator and launched her campaign to protest the board’s failure to uncover her ex-husband’s behavior. The board said is committed to active oversight and said her campaign is not in shareholders’ best interests. "Over the past three months, our Board has acted swiftly and effectively in the face of unforeseeable circumstances, while maintaining a laser focus on corporate governance and shareholder value," said the letter. Shares were flat Wednesday, but have gained 14% in 2018, while the S&P 500 has fallen 0.9%.

Wynn Resorts Ltd. Chief Executive Matt Maddox proposed Friday to the Massachusetts Gaming Commission (MGC) that the name of the $2.5 billion Wynn Boston Harbor casino being constructed be changed to Encore Boston Harbor. Maddox made the request at the MGC Adjudicatory Hearing, to make it clear that Steve Wynn was no longer associated with the company. The stock slipped 0.2% in afternoon trade. The MGC had launched an investigation into Wynn earlier this year amid allegations of sexual misconduct by the founder and former CEO. On Friday, Maddox told the MGC that while he believed the Wynn brand was "strong," he also understood "the cultural sensitivity" regarding the use of the name, and therefore proposed the name change. "We’re ready to change the wrap on the construction fencing today. It’s already been prepared," Maddox said, according an MGC audio recording. "We’re ready to pass out t-shirts–Encore Boston Harbor–to all 1,600 construction workers." The stock has rallied 9.1% year to date, while the S&P 500 has eased 0.1%.

Elaine Wynn, co-founder and biggest shareholder of casino operator Wynn Resorts Ltd. , on Monday urged shareholders to join her in withholding votes from director candidate John Hagenbuch at the company’s annual meeting scheduled for May 16. In an open letter, Wynn said she was "deeply concerned" about the lack of independence and oversight demonstrated by the current board and argued that the only way to restore the company’s reputation was to change its members and reform the company’s corporate governance. "This is largely the same board that announced only two months ago, "with a collective heavy heart" the resignation of "our founder, CEO and friend Steve Wynn," she wrote, referring to her ex-husband who was ousted after revelations of yearslong sexual abuse of employees. "Several longstanding legacy directors still wield significant influence at the company," she wrote. "This is especially true of Mr. Hagenbuch, who serves on the special committee responsible for overseeing the investigation into allegations of Mr. Wynn’s sexual harassment and on the compensation committee, which is responsible for the company’s executive compensation practices that proxy advisory firms have viewed as highly problematic." Shares were slightly higher premarket and have gained 66% in the last 12 months, while the S&P 500 has gained 14%.