Las Vegas Sands Corp. tumbled in extended U.S. trading and dragged down other gaming stocks after the world's largest casino company by market value reported a surprise third-quarter net loss.
Las Vegas Sands shares dropped $19.30, or 15 percent, to $106 at 7 p.m. in New York. The net loss was 14 cents a share, the company said, after baccarat and blackjack players won more in Las Vegas and Macau. Costs to open the Venetian Macao also contributed to the loss. Analysts expected a 28-cent profit, according to the average of six estimates compiled by Bloomberg.
Wynn Resorts Ltd., the casino company run by billionaire Steve Wynn, dropped $12.55, or 8.1 percent, to $142.39 in after- hours trading. MGM Mirage, the second-biggest casino company, fell $1.60 to $87.90.
Pepco Holdings Inc. gained 94 cents, or 3.4 percent, to $28.88. The owner of the utility in and around Washington will replace Manor Care Inc. in the Standard & Poor's 500 Index, S&P said today in a statement posted on its Web site.
The addition of Pepco, which has a market value of $5.41 billion, may support its stock price as money managers tracking the S&P 500 purchase the company's shares.
December futures on the S&P 500 declined 0.80 to 1,515. Nasdaq-100 Index futures fell 2.50 to 2,213.
business-pennystock.com
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