Wynn Resorts wage, benefits cuts first reported by Reuters

Reuters was 9 minutes ahead of both Bloomberg and Dow Jones on February 3 in reporting, after the market close, that high-end casino operator Wynn Resorts would cut wages, hours, bonuses and retirement contributions, but not jobs, at its Las Vegas resorts to cope with a downturn in gambling demand. Analysts, some of whom subsequently downgraded the stock or lowered earnings estimates, said the cuts indicated greater-than-expected compression on profit margins and shares of Wynn fell 9 percent the following day. Shares of competitors also suffered, with MGM Mirage and Las Vegas Sands each falling more than 14 percent.