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Wynn Resorts Slumps on Macau Forecast; Stocks Slide as Oil Falls

Wynn Resorts (WYNN) moved lower Wednesday after Fitch Ratings revised its Macau gaming growth forecast for the year. The firm now expects revenue at the major gambling destination to fall by as much as 34% over 2015, a steeper decline than an originally-forecast 29% drop. Stocks had their first relatively calm session in weeks on Wednesday. Trading was choppy, though remained within a narrow range, as stocks moved from slight gains to minor losses. Groupon (GRPN) continued to slide a day after announcing plans to cut 1,100 jobs, or nearly 10% of its workforce. The stock has fallen more than 9% since the announcement was made Tuesday morning. Crude oil prices slumped even as data showed a larger-than-expected drop in weekly inventories.

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