Diamonds and Dogs

1/26/18

Intel (INTC) shares back to dotcom levels. Chipmaker, Intel is up 9% to an 18 year high thanks to strong quarterly profits. The world's biggest PC chipmaker is continuing to shift business to data centers which grew 20 percent to $5.58 billion last quarter. Intel's data-centric businesses now comprise about 47 percent of revenue. Investors were also comforted by Intel's assurances that it does not expect any material impact from the recent disclosure of security flaws Spectre and Meltdown in billions of its chips.

Steve Wynn not smiling today. After tripling in value in the last year and a half, Wynn Resorts (WYNN) is down 7% due to allegations in the Wall Street Journal of sexual misconduct by billionaire CEO Steve Wynn over many years. Dozens of people who worked at Wynn's casinos say his behavior created a pattern of sexual misconduct, according to the report, with some describing employees being pressured into performing sex acts with Wynn. Wynn would regularly have manicures, makeup applications and massages performed at his office at the Wynn resort in Las Vegas, according to the WSJ. Former employees of Wynn say they would schedule fake appointments for female workers to avoid requests for those services, the report says. The WSJ contacted over 150 current and former employees of Wynn.