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Wynn Resorts Higher Off Unconfirmed Takeover Chatter

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Wynn Resorts, Limited (NASDAQ: WYNN) shares are trading higher by $3.25 at $108.00 in Thursday's session.

The stock was trading moderately in the green (higher by $0.75) when around 11:15 a.m. ET, an unconfirmed takeover interest by Las Vegas Sands (NYSE: LVS) swept the the Street.

Update: Around 1:34 p.m., a spokesperson told Bloomberg there is "zero truth" to the rumor.

Within 40 minutes, Wynn's stock rallied to $108.60 but has since backed off the $108.00 area. That high comes in just above its September 19 high ($108.43), but well shy of the pair of highs in the $109.00 handle from September 15 ($109.50) and September 16 ($109.27).

After getting crushed in December, falling from its month-end November close of $101.99 to end the year at $86.51, it has been a stellar performer in 2017. Based on the $108.00 price, shares of the issue are higher by 25 percent, compared the S&P 500 Index gain of 2 percent.

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