Why These 5 Stocks Are Making Headlines Today

Wynn Resorts, Limited (NASDAQ:WYNN) shares are off by around 5% this morning after the company issued its preliminary first quarter results yesterday. According to the company’s press release, it expects to reach net revenue of $603 million-to-$613 million and adjusted property EBITDA of $187 million-to-$195 million for its Macau segment. Those numbers would be down from first quarter 2015 revenue of $705.4 million and adjusted property EBITDA of $212.3 million. When combined with its Las Vegas operations, Wynn Resorts expects to report overall revenue of $987 million-to-$1.00 billion and adjusted EBITDA of $292 million-to-$308 million for the first quarter of 2016. Analysts were expecting $998.33 million in revenue and given the drop in the stock, the market was expecting more adjusted EBITDA. The number of elite shareholders of Wynn Resorts, Limited (NASDAQ:WYNN) in our database dropped to 30 from 34 quarter-over-quarter during the December quarter. Those 30 elite funds held 19.8% of the company’s float at the end of 2015. Mason Hawkins‘ Southeastern Asset Management owned 12.58 million Wynn shares at the end of December.

It’s been a good day for Constellation Brands, Inc. (NYSE:STZ) shareholders, as shares have risen by over 4.50% following the company reporting its fourth quarter of fiscal year 2016 financial results this morning. For the fiscal quarter, the company earned $1.19 per share on revenue of $1.54 billion. Its profit jumped by 12% year-over-year, while revenue rose by 14%. For the full 2016 fiscal year, Constellation Brands earned $5.18 per share. Management expects even better things for fiscal year 2017, providing an EPS estimate of $6.00-to-$6.30 for the fiscal year. Stephen Mandel‘s Lone Pine Capital was one of the 67 elite funds that owned shares of Constellation Brands, Inc. (NYSE:STZ) at the end of 2015.

Cree, Inc. (NASDAQ:CREE) shares are 15% in the red today due to the company issuing dissapointing preliminary financial results for its third quarter of fiscal year 2016. For the quarter, the company expects non-GAAP EPS of $0.13-to-$0.15 and revenue of $367 million versus expectations of $0.24 per share and $414.35 million, respectively. Cree also expects its gross margins to come in below its previously guided target of 29.7%-to-30.5%. Management cited lower Lighting Products revenue as the root cause of the revenue miss. The number of elite funds with shares in Cree, Inc. (NASDAQ:CREE) rose by one to 15 during the December quarter.

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