Here’s Why MGM Resorts, TeamHealth, Alibaba, and More Are in the Spotlight

Although Neil Mehta of Goldman Sachs upgraded Chevron, Exxon Mobil Corporation (NYSE:XOM) is 1% in the red after the analyst double-downgraded Exxon to ‘Neutral’ from ‘Conviction Buy’. Mehta also trimmed his Exxon price target to $93 per share from the previous $98. Mehta doesn’t see many catalysts in the near-term that could send Exxon’s price higher, as the company has been “hesitant to pursue large-scale M&A” which could have improved its growth prospects. Exxon reported mixed earnings on Friday. 60 funds in our system had a long position in Exxon Mobil Corporation (NYSE:XOM) at the end of the second quarter, unchanged from the end of the first quarter.

MGM Resorts International (NYSE:MGM) is in the spotlight today after the company’s CEO, James Murren, said that the casino operator is willing to invest as much as $9.5 billion on a mega casino resort in Japan if The Land of the Rising Sun legalizes gambling. Japan’s legislators are expected to consider the gambling matter by the end of 2016. If regulators give the green light and MGM goes ahead with its plan, Murren believes an REIT structure would be the best vehicle to finance the plan. The number of funds in our database with MGM Resorts International (NYSE:MGM) holdings rose by four quarter-over-quarter to 59 at the end of June.

TeamHealth Holdings Inc (NYSE:TMH) shares have spiked by 15% after the company agreed to sell itself to Blackstone for $43.50 in cash per share, or around $6.1 billion. The boards of both companies have unanimously approved the deal, which is expected to close in the first quarter of 2017. In addition, Barry Rosenstein‘s JANA Partners, which owns around 8% of the company, is also in favor of the deal. 25 funds were bullish on TeamHealth Holdings Inc (NYSE:TMH) at the end of the second quarter, up by three funds quarter-over-quarter.

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