Four of the Biggest Movers on a Volatile Friday Morning

Wynn Resorts, Limited (NASDAQ:WYNN) shares are over 5% higher this morning after the company reported better-than-expected preliminary fourth-quarter results for its Macau unit. For its fourth-quarter, Wynn expects net Macau revenue of $552 million-to-$560 million, adjusted property EBITDA of $156 million-to-$164 million, and operating income of $75 million-to-$83 million. For the full year, Wynn expects net revenue of $2.459 billion-to-$2.467 billion, adjusted property EBITDA of $705 million-to-$713 million, and GAAP operating income of $382 million-to-$390 million.

The number of elite funds in our system which were long the casino operator fell by one to 34 during the third quarter. Those 34 elite funds held almost 20% of Wynn Resorts, Limited (NASDAQ:WYNN)’s shares.

Intel Corporation (NASDAQ:INTC) shares are more than 8.5% in the red after CEO Brian Krzanich said that the company was cautious about overall demand for the first-quarter, particularly in regards to demand from China, where the economy has been slowing substantially. Krzanich’s comments largely overshadowed Intel’s great fourth-quarter, in which the chip giant beat bottom-line estimates by $0.11 per share and top-line estimates by $110 million with EPS of $0.74 on revenue of $14.91 billion. The company expects mid-to-high single-digit 2016 revenue growth.

45 elite funds tracked by Insider Monkey owned the semiconductor giant at the end of the third quarter. That was down by three from the close of the second quarter. Among the funds with holdings in Intel Corporation (NASDAQ:INTC) were Ken Fisher‘s Fisher Asset Management and Cliff Asness‘ AQR Capital Management.

Disclosure: None