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Fossil Keeps Ticking, But Is It Time to Play?

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Company's been beating estimates, but economy is still rough.

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Wynn Resorts (WYNN):
Justin Sharon points out in Upgrades & Downgrades: Win with Wynn? this morning that Bank of America/Merrill slapped a Buy rating on the company.

My feel:

I've gushed before about how smart I think Steve Wynn is, how beautiful the company's facilities are, and my belief that gaming will mount a comeback down the line. But even though the stock has been on a roll, the economy is showing some signs of life, and my feelings about Wynn's intelligence and ability remain the same, I find it hard to get too motivated right now. The earnings outlook doesn't look great in the near-term and I'm not willing to bet that Americans (with the exception of my grandmother) are going to return to the blackjack table en masse anytime soon.

Place my chips squarely on the pass line.

Toll Brothers (TOL):
It appears as though Wells Fargo upgraded the well-known builder.

An upgrade is certainly good, but I'm still not bullish on the stock, or the building space in general. If the Fed acts and rate increases do occur, they could really flummox mid- and higher-end home sales -- and Toll's stock.

Have a great day!

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No positions in stocks mentioned.

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