WYNN

Underperforming without a clear catalyst yet

• WYNN −1.84% on the last session vs SPY +0.74%: −2.6 pts of stock-specific move.
• Aftermath, big drop (Sep 29): After its 56 big drops in the past 5 years, WYNN typically lost 1.2% over the next week (median) and was higher only 41% of the time; half the outcomes fell between -3.4% and +3.2%. An ordinary week: -0.1%. Among S&P 500 stocks after big drops, that ranks #445 of 500.
• Market backdrop (Fri): Average Hourly Earnings m/m 0.1% vs 0.3% expected (cooler); Non-Farm Employment Change 29K vs 89K expected (weaker); S&P futures +0.41%, 10-year yield -5bp in the 30 minutes after.