Feb 7, 2018

Wynn stock soars after CEO resignation

Traders piled into Wynn Resorts on Wednesday, following the resignation of founding CEO Steve Wynn, who has been accused of sexual harassment and assault (he denies the allegations).

Bottom line: Wynn stock is still around 13% lower than before the allegations were first published by the Wall Street Journal.

Data: Money.net; Chart: Axios Visuals

Today's bump may suggest faith in new CEO Matt Maddox, even though Wynn Resorts said the following last year in an SEC filing:

Our ability to maintain our competitive position is dependent to a large degree on the efforts, skills and reputation of Stephen A. Wynn... If we lose the services of Mr. Wynn, or if he is unable to devote sufficient attention to our operations for any other reason, our business may be significantly impaired.

Another possibility is that traders believe the casino empire will eventually be broken up, and that it's currently valued lower than the sum of its parts.

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Clyburn: Sanders' "socialist" label will be "extra burden" in House races

Clyburn with Speaker Nancy Pelosi. Photo: Mario Tama/Getty Images

House Majority Whip Jim Clyburn (D-S.C.) said on ABC's "This Week" Sunday that Sen. Bernie Sanders' identification as a democratic socialist may be an "extra burden" in down-ballot House races if he were to win the Democratic nomination.

Why it matters: Clyburn's comments echo fears from many establishment Democrats, who worry the House majority they won in 2018 by taking moderate seats carried by President Trump could be at risk with Sanders at the top of the ticket.

O'Brien rejects intelligence report of Russia effort to re-elect Trump

National Security Adviser Robert O'Brien. Photo: Chris Usher/CBS via Getty Images

White House national security adviser Robert O'Brien repeatedly rejected on ABC's "This Week" an assessment from a congressional briefing led by the Office of the Director of National Intelligence that Russia is interfering in the 2020 election to help President Trump get re-elected.

Why it matters: The report put the Trump administration under fresh scrutiny in regard to steps it has been taking to combat the kind of interference that the U.S. encountered in 2016.

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Italy becomes site of largest coronavirus outbreak outside of Asia

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus has spread to more nations as South Korea and Italy step up emergency measures in their countries amid rising case numbers on Sunday.

The big picture: COVID-19 has killed at least 2,462 people and infected almost 79,000 others, mostly in mainland China. South Korea increased the infectious disease alert to red, the highest possible, as its case numbers jumped to 602 and the death toll to five. Italy's government announced emergency measures as it confirmed a spike from three to 132 cases in matter of days, making it the largest outbreak outside of Asia.

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