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Wynn Resorts and BioNTech have been highlighted as Zacks Bull and Bear of the Day

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For Immediate Release

Chicago, IL – March 28, 2023 – Zacks Equity Research shares Wynn Resorts (WYNN - Free Report) as the Bull of the Day and BioNTech (BNTX - Free Report) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Baker Hughes Company (BKR - Free Report) , EOG Resources (EOG - Free Report) and Diamondback Energy, Inc. (FANG - Free Report) .

Here is a synopsis of all five stocks.

Bull of the Day:


Based in Las Vegas, NV, Zacks Rank #1 (Strong Buy) stock Wynn Resorts was founded in 2002. The company, together with its subsidiaries, is a leading developer, owner and operator of casino resorts. The company currently owns and operates casino hotel resort properties in Las Vegas, and in Macau Special Administrative Region of the People's Republic of China.

Strong Growth Trajectory

Wynn Resorts, one of the leading companies in the gaming and lodging industry, is well poised to grow strategically. Given its strong brand name, Wynn Resorts is better positioned to command a premium rate relative to its peers in the gaming and lodging industry. Moreover, the addition of Encore Boston Harbor in Massachusetts, makes it an initiative placed in the right direction. The company reconfigured its casino and changed the casino loyalty program. Also, it emphasized on adding incremental parking, food and beverage and entertainment amenities. With group business returning back, the initiatives are likely to benefit the company in the upcoming periods. The company stated that it would upgrade Encore Boston Harbor to be the top-performing Casino in the northeast.

Sports Betting to Drive Growth

The company is focusing on sport betting expansion to drive growth. In an effort to focus on online betting, the company announced the merger of Wynn Interactive into Austerlitz Acquisition Corp. To drive growth the company will invest $640 million. Meanwhile, WynnBET sports betting and online casino applications were operational in New Jersey for quite some time. During the fourth quarter of 2020, the company launched WynnBET online sports and casino offerings in Colorado and Michigan. It also secured market access in Arizona, New York, Indiana, Iowa and Ohio and received conditional licensing in Tennessee.


Zacks Consensus Analyst Estimates suggest that Wynn Resorts is on track to fully recover from the COVID-19-induced earnings slow down by 2025. Prior to the shock of the pandemic, WYNN shares were trading at $200 per share. Should Wynn meet or exceed analyst expectations in the next two years, we expect its price to double and regain old, pre-pandemic levels.

Technical View

Shares of Wynn are pulling into the 50-day moving average for the first time since breaking out. The first tag of the 50-day moving average tends to be a favorable area from a reward-to-risk perspective.

Bottom Line

Wynn Resorts is firing on all cylinders and investors are currently being offered an opportunity to take advantage of a temporary market shock (the pandemic). Expect WYNN shares to outperform as the company takes advantage of growth drivers such as sports betting, Macau, and strong brand recognition.

Bear of the Day:


Zacks Rank #5 (Strong Sell) stock BioNTech is a German biotech firm that develops and commercializes immunotherapies and innovative cancer treatments based on individualized therapies and precision medicine. The company was founded in 2008 and is based in Mainz, Germany.

BioNTech was relatively obscure until the company partnered with pharmaceutical juggernaut Pfizer to develop one of the first mRNA COVID-19 vaccines. The vaccine, called the Pfizer-BioNTech COVID-19 vaccine, has been authorized for emergency use in numerous countries around the world.

Fundamental View

The COVID-19 pandemic was a windfall opportunity for BioNTech and other mRNA vaccine manufacturers. In the heat of the pandemic, BNTX’s EPS grew from zero to nearly $16 per share.

The stock reacted accordingly, rising from $12 to over $400 a share in just months. However, unfortunately for BNTX investors, equities tend to be forward-looking devices rather than backward looking mechanisms. From that perspective, the picture is less rosy. This year, Zacks Consensus Analyst Estimates suggest that BNTX’s earnings will dive 70% year-over-year.

What’s worse is that recent revisions are moving in the wrong direction. Over the past 90 days, Zacks Consensus Analyst Estimates have dropped precipitously.

Technical View

Sometimes, it's important to focus on how a stock reacts to earnings, rather than the earnings themselves. Over the past two quarters, BNTX has beat consensus analyst estimates. However, shares are lagging and trading near multi-year lows.

Relatively speaking, BNTX is -25% over the past twelve months while the S&P 500 is only -14%.

Bottom Line

BNTX is ranked a lowly 5 for a reason. Earnings have peaked, COVID hysteria has subsided, and the technical picture is lagging. All else being equal, expect BNTX shares to underperform over the next year.

Additional content:

Permian Oil Rig Count Increases 2 Straight Weeks

In its weekly release, Baker Hughes Company stated that the U.S. rig count was higher than the prior-week tally. The rotary rig count, issued by BKR, is usually published in major newspapers and trade publications.

Baker Hughes’ data, issued at the end of every week since 1944, helps energy service providers gauge the overall business environment of the oil and gas industry. The number of active rigs and its comparison with the prior-week figure indicates the demand trajectory for Baker Hughes’ oilfield services from exploration and production companies.


Total U.S. Rig Count Rises: The count of rigs engaged in the exploration and production of oil and natural gas in the United States was 758 for the week ended Mar 24. The figure is higher than the prior week’s count of 754. Thus, the tally rose for two straight weeks. The current national rig count is also higher than the year-ago level of 670.

The onshore rigs in the week ended Mar 24 totaled 739, higher than the prior week's count of 736. In offshore resources, 18 rigs were operating, higher than the prior week’s count of 17.

U.S. Oil Rig Count Rises: The oil rig count was 593 in the week ended Mar 24, higher than the prior-week figure of 589. The current number of oil rigs — far from the peak of 1,609 attained in October 2014 — is also up from the year-ago figure of 531.

U.S. Natural Gas Rig Count Flat: Natural gas rig count of 162 is the same as the prior-week figure. The count of rigs exploring the commodity is higher than the prior-year week’s tally of 137. Per the latest report, the number of natural gas-directed rigs is 89.9% lower than the all-time high of 1,606 recorded in 2008.

Rig Count by Type: The number of vertical drilling rigs totaled 16 units, higher than the prior-week count of 15 units. The horizontal/directional rig count (encompassing new drilling technology with the ability to drill and extract gas from dense rock formations, also known as shale formations) of 742 is higher than the prior-week level of 739.

Gulf of Mexico (GoM) Rig Count Rises: GoM rig count was 17 units, all oil-directed. The count was higher than the prior-week number of 16.

Rig Count in the Most Prolific Basin

Permian — the most prolific basin in the United States — recorded a weekly oil rig tally of 348, higher than the prior week's count of 345. Thus, the number increased for two straight weeks.


The West Texas Intermediate crude price is trading at more than the $65-per-barrel mark, which continues to be highly favorable for exploration and production activities. Handsome oil prices will likely pave the way for rig additions despite a slowdown in drilling activities, as upstream players mainly focus on stockholder returns rather than boosting output.

Investors may keep a close eye on energy stocks like EOG Resources and Diamondback Energy, Inc., as these companies are expected to benefit from the current healthy oil price scenario.

EOG Resources, currently carrying a Zacks Rank #3 (Hold), is a leading oil and natural gas exploration and production company. It is well-placed to capitalize on the promising business scenario. It has an estimated 11,500 net undrilled premium locations, resulting in a brightened production outlook. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

EOG Resources is strongly committed to returning capital to shareholders. Since it transitioned to premium drilling, the company has returned a handsome amount of cash to stockholders. With the employment of premium drilling, EOG can reduce its cash operating costs per barrel of oil equivalent, thereby aiding its bottom line.

Diamondback Energy is a leading pure-play Permian operator. FANG has expanded its footprint in the Midland basin since it acquired all leasehold interest and associated properties of Lario Permian, LLC – a wholly owned affiliate of Lario Oil & Gas Company. FANG, with a Zacks Rank of 3, also has an investment-grade balance sheet.

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