Stock Market News: MGM Sells Vegas Icons; United Flies Higher
Major benchmarks were mixed on Wednesday as investors paused following sizable gains from Tuesday's session. Market participants kept a close eye on Hong Kong, where pro-democracy protestors have fought against Chinese government policies. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 10 points to 27,015. The S&P 500 (SNPINDEX: ^GSPC) rose 1 point to 2,996, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) dropped 9 points to 8,140.
There have been plenty of strategic moves lately from companies seeking to take maximum advantage of the assets they own, and MGM Resorts International (NYSE: MGM) made a major step toward selling off stakes in two iconic properties in Las Vegas. Meanwhile, earnings season continued, and United Airlines Holdings (NASDAQ: UAL) was able to give investors a more upbeat view of the airline's future.
MGM Resorts International saw its shares fall 1% after the company announced a couple of major transactions involving two well-known casino resort properties. Although the Circus Circus property and the luxurious Bellagio resort don't have a lot in common, MGM's strategy used both to raise cash.
Source Fool.com
