NEW YORK, March 14, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on MGM Resorts International, Cliffs Natural Resources, Netflix.
Shares of MGM Resorts International(NYSE:MGM - News) went up by more than 7% on Thursday after Kirk Kerkorian, its biggest shareholder, requested permission to increase his stake in MGM to a maximum of 25%.
In a filing with SEC, Tracinda Corp. said that there has been no decision made on how many shares may be owned.
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Kerkorian’s Tracinda presently owns about 18.6% of total shares of MGM Resorts. MGM Resorts
runs 15 properties in Michigan, Mississippi and Nevada, including MGM Grand, Bellagio, Luxor, CitiCenter, Mandalay Bay and Aria properties located on the Las Vegas strip. It is also the majority owner of MGM China Holdings that owns the MGM Macau casino resort.
Macau happens to be the only place in China where gambling is considered to be legal.
MGM Resorts had reported last month that its loss for the fourth quarter has widened. The company’s adjusted loss and revenue both could meet the expectations of the Wall Street.
In other news, Cliffs Natural Resources Inc(NYSE:CLF - News), the mining and natural resources company, has declared its decision to idle its Wabush Pointe Noire pellet facility in Canada for the time being. The decision has been taken due to lower pellet premium pricing and high costs of production. Both the factors are expected to persist in a number of markets throughout 2013.
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Product mix at the Eastern Canadian Iron Ore sector of the company contains iron ore concentrate and pellet. Cliff is planning on temporarily shutdown its iron ore pellet facility at Pointe Noire and move to iron ore concentrate production.
The decision will affect about 165 families, who were engages in the operations of the factory. Cliffs is supposed to provide these workers with other employment opportunities.
Cliffs has predicted sales and production volume of 9-10 million tons for the year 2013 at its business segment of Eastern Canada. This entails about 3 million tons of iron ore concentrate as well as pellets from its Wabush operations.
Netflix, Inc.(NASDAQ:NFLX - News) and Fox Television Studios has declared today that the third season of The Killing will be exclusively available to all the streaming members after it is aired in the US and Canada.
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The deal will be bringing the Season 3 to members of Netflix three months after the season climax airs in AMC. This gives Netflix the exclusivity of being the subscription television service for the Season 3 of The Killing. Both the previous seasons of the TV Series are now available for Netflix users in Canada.
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