Boston, MA 02/20/2014 (wallstreetpr) – MGM Resorts International (NYSE:MGM) announced that its fourth quarter loss narrowed compared to a year earlier. The company operates the largest casino on the Las Vegas Strip and it also owns casino business in Macau, the only place in China where gambling is legal. In the latest quarter, MGM reported $38.3 million loss, or 8 cents per share. In the previous year during the same period it reported loss of $1.2 billion, or $2.50 per share. Without some costs, profit in the latest quarter was 11 cents; analysts had predicted 1 cent loss. Revenue in the fourth quarter rose by 9.5 percent to come at $2.51 billion, while analysts had expected revenue of $2.47 billion. The improved performance in the latest quarter was helped by better business environment in Macau and Nevada. MGM Resorts International (NYSE:MGM) fell 10 cents per share in NYSE to close conclude at $25.75.
Cisco Systems, Inc. (NASDAQ:CSCO) can control or better yet, reduce its troubles by addressing issues in emerging markets. The company has massive growth opportunities in developing economies and what is needed is better approach to tap that opportunity. In the most recent quarter, Europe, Middle East and Africa (EMEA) regions saw the best performance. The trouble was however noted in Asia, but still opportunities exist in Japan, India and China among other Asia Pacific markets. That CSCO is predicting revenue to decline up to 8 percent in the current quarter may scare investors, however, there seems to be light at the end of CSCO’s tunnel and all that is needed is that the company moves with speed to grab the opportunity. Cisco Systems, Inc. (NASDAQ:CSCO) gained 13 cents on each share in the last trading session to end the regular session at $22.28 per share.
Ford Motor Company (NYSE:F) has just reported eight consecutive monthly sales growth in Europe. The company announced 9.2 percent January sales increase, almost doubling the industry rate of 4.7 percent. The company sold 80,800 vehicles in 20 key European markets and 90,700 vehicles in all the European markets (50 in all) that it covers. With the just reported sales growth in Europe, Ford Motor Company (NYSE:F) managed to increase its European auto market share by 0.3 percent to 7.5 percent year over year.
