Market Power Drives Harder Bargains. Can SMEs Compete Globally?


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Is there a widening difference between the profitability of small businesses and large?  Some say there is and blame globalization. Milton Ezrati, contributor for Forbes thinks otherwise:  “The winner-take-all character of global trade seems to get the blame for just about anything unfair or inequitable these days. But it would be a mistake to reach for this easy answer.”  He goes on to say …

Rather than drag out the perennial whipping boy of globalization, a better explanation might well lie with questions of market power. All may have access to the same suppliers, but larger firms, such as Walmart and Amazon, can drive harder bargains on price and delivery terms than smaller or mid-sized firms.

Is America losing its small businesses?  Read more.

Google Misses Revenue Estimates, Has Worst Day on Stock Market Since 2012

Plus, the tech-heavy Nasdaq falls from its record high.

3 min read

Opinions expressed by Entrepreneur contributors are their own.

The stock market recovered from a sharp drop this morning, but the Nasdaq Composite index fell 0.66 percent from a record high yesterday thanks to Alphabet Inc. and other weak technology stocks. The S&P 500 index was up 0.1 percent while the Dow gained 0.15 percent.

The Entrepreneur Index™ fell 0.7 percent with the tech sector being the biggest drag on performance.

Shares in Alphabet Inc. had their worst day since 2012, after the company missed revenue estimates for the first quarter. The stock was down 7.7 percent from a record high on Monday after the internet giant reported results after the market close yesterday.

The drop puts Alphabet’s return for the year at 14.7 percent, the lowest among the FAANG stocks (Facebook, Amazon, Apple, Netflix and Alphabet — formerly Google), that have propelled the ten year bull market forward. The company blamed “product changes in ads” for the shortfall, but didn’t provide further explanation. Wall Street analysts resumed their calls for better disclosures from the company, famous for being one of the least transparent of the major technology companies.

Much of the rest of the tech sector struggled as well. Facebook (-0.71 percent), Amazon.com (-0.61 percent) and Netflix (-0.35 percent) were all down today. Adobe Systems Inc. (1.09 percent) and chip-makers Analog Devices (2.07 percent) and NVIDIA Corp. (0.93 percent) were notable exceptions in the sector.

The REIT sector posted some of the biggest gains on the Entrepreneur Index™ today. Interest rates were down and most of the REIT market responded positively. Essex Property Trust and Boston Properties had the biggest gains among the nine REITs on the index, rising 1.75 percent and 1.65 percent respectively. Mall REIT Macerich Company, however, fell 2.93 percent. With many of its large retailer tenants struggling, Macerich has also struggled. It is down 7.1 percent this year and 30.2 percent in the last twelve months.

Other good gains on the index today included Fedex Corp. (1.52 percent), Chipotle Mexican Grill (1.5 percent), insurer Aflac Inc. (1.33 percent) and Ford Motor Co. (1.26 percent).

Other notable declines included Wynn Resorts (-2.9 percent), Tesla (-1.15 percent) and Simon Property Group (-1.17 percent).

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Twitter and Tech Stocks Buoy a Flat Stock Market, Despite U.S.-China Trade Uncertainty

Twitter had the biggest gain on the Entrepreneur Index™, rising 2.95 percent.

3 min read

Opinions expressed by Entrepreneur contributors are their own.

Deal or no deal?

Treasury Secretary Steve Mnuchin gave an ambiguous read of the U.S.-China trade talks today as they resume in Beijing this week. He said that “the talks are nearing a point where they would either produce a deal or end with no agreement,” according to a New York Times report.

Investors didn’t seem phased by the uncertainty. Strong March consumer spending data released this morning confirmed the resilience of the U.S. economy and the stock market continued to rise into uncharted territory. The S&P 500 and Nasdaq Composite indexes were up 0.11 percent and 0.19 percent respectively, breaking above record highs set last week. The Dow index, up 0.04 percent today, remains slightly below its all-time high.

Good gains in the technology sector couldn’t overcome weakness across many sectors, leaving the Entrepreneur Index™ with a small loss of 0.01 percent today.

Twitter had the biggest gain on the index, rising 2.95 percent. Facebook (1.31 percent) and Adobe Systems Inc. (1.53 percent) were also up nicely. Amazon (-0.6 percent) and Netflix (-0.81 percent) had notable declines. Alphabet Inc., up 1.47 percent, set a new 52-week high today. The stock, however, was down in post-close trading after the company reported financial results.

Tesla shares rebounded sharply after dropping to their lowest level in two years last week. Up 2.69 percent today, they are down 27.4 percent this year and hit a 52-week low last Friday. CEO Elon Musk and the SEC settled their dispute over Mr. Musk’s tweeting habits last week. In a filing with the SEC, the company also suggested it would be looking to raise more capital.

Other good gains on the Entrepreneur Index™ today included conglomerate Loews Corp. (1.49 percent), Fedex Corp. (1.41 percent) and Cerner Corp. (1.23 percent).

The REIT sector was generally weak as interest rates ticked up on the strong consumer spending report. Kimco Realty Corp. (-2.75 percent) had the biggest decline on the Entrepreneur Index™. Simon Property Group (-1.6 percent) was also down sharply.

Asset manager Franklin Resources fell 2.65 percent today. Despite the fund company beating earnings and revenue estimates on Friday, the stock price has been dropping. The shares are still up 15.2 percent this year.

Other losses on the day included medical products-maker Boston Scientific Corp. (-1.74 percent), pipeline manager Kinder Morgan (-1.83 percent) and hospital manager Universal Health Services (-1.56 percent).

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Ford passes Tesla in market cap after over a year

Ford’ market value has surpassed that of Tesla by about $900 million. The 116-year-old automaker on Friday afternoon soared beyond Elon Musk’s electric car maker’s market capitalization for the first time since April 2017.

Ford confirmed on Thursday that its shares rallied close to 11% after its earnings report. This is contrary to Tesla’s shares which declined by 5% on Friday to mark a total decline of 30% in 2019. Tesla stock was confirmed to have been dragged lower in the second half of the week after its first-quarter earnings report on Wednesday. At the close of Friday’s trading, Ford’s market cap was $41.5 billion, as against Tesla’s market cap which on Friday afternoon was below the $40-billion mark.

Tesla became the largest automaker in the U.S. by market cap in April 2017 after rising above Ford and General Motors (GM) and the electric car maker made great headlines after achieving such an unprecedented feat. However, there has been some level of concerns for Tesla following a slump in EV demand, mostly in the U.S, and Tesla’s declining cash on its balance sheet. In the first quarter of this year, Tesla declined by $1.5 billion after paying off debt and investing heavily in Model 3.

Ford Fiesta Chevrolet Sonic

Ford Fiesta Chevrolet Sonic

GM has since taken the market-cap crown back from Tesla, and with its stock market value at $56 billion, GM has remained the largest of the three.

Earlier on Wednesday, Ford announced its investment of $500 million in electric car startup Rivian to produce battery-powered trucks. The outgoing CFO of Ford, Bob Shanks, described the partnership as a “win-win” situation for both companies. “The ship is starting to turn after a lot of work on the fitness of the business, rethinking the product portfolio, working on a number of alliances,” said Shanks.

Tesla’s new CFO, Zachary Kirkhorn, described the first quarter as “one of the most complicated quarters that I can think of in the history of the company and it was ambitious even by Tesla’s standards,” after the company’s earnings call on Wednesday. Kirkhorn encouraged investors to brace up for another likely loss in the second quarter.  However, he gave hope that Tesla would return to profitability in the second half of the year.

Both Musk and Kirkhorn estimated the number of cars Tesla would sale this year to be between 360,000 and 400,000. Musk also inspired investors by assuring them that Tesla has passed the worst of the U.S. tax credit impact on demand. Ford had in the first quarter sold 591,000 vehicles in the US; 279,000 trucks, 213,000 SUVs and roughly 98,000 sedans.

The situation surrounding Tesla may not suggest that the company is ready to turn things around quickly enough. Equity Analyst Daniel Ives of Wedbush Securities predicts that Tesla may likely raise about $3 billion this year. And unlike the time past, Musk did not rule out raising more capital this year.

Also, Ives recently revealed that raising capital will put Tesla shares under pressure in the short term, as the current shareholders observe their stock value reduce in a new equity offering. However, on a longer term, new investors could emerge as a result of a stronger balance sheet to cut down the tension.

6 Ways to Use YouTube to Market a Small Business

Marketing with YouTube
Image source: Depositphoto.com

If you’re looking for ways to get word out about the products and services your small business sells, YouTube is a marketing tool you shouldn’t ignore. Its vast audience (over a billion users!) and multimedia format provide a highly effective way for you to communicate your brand message to your audience. And most small businesses can do so at a relatively low cost. Here are six ways your business gain attention and interest from posting to YouTube.

1. Use YouTube as a way to connect personally with customers

There’s a very old maxim in the sales game: “You’re really just selling yourself.” In other words, consumers and business customers want to buy from people they know and trust. YouTube provides an exceptional medium for you to present yourself and make your audience feel like they know you. Post one or more YouTube videos to introduce yourself, talk about your qualifications and why you’re in business. You should make customers comfortable and show them that you genuinely care about helping them solve their problems or meet their special needs and that you care about their experience with your products. Keep these short -no more than a minute or two. Remember, your goal is to get the customer to make a quick, favorable impression about you and your business. You don’t want to bore them with an overabundance of details.

2. Use YouTube to showcase your products’ top features

To show your customers why your products are easy to use, reliable, and of high quality, take close-up videos of them in action. Upload several different videos that show off your products from various angles. Post videos of your products in use, which will show off your products’ capabilities and make customers think about how they might use the product to meet their individual needs. Doing so turns abstract benefits into viable, real-world solutions in your customers’ minds.

Ideally, you should shoot the videos with a high-quality camera, but if you don’t have a high-quality camera and your operating on a tiny budget, use your smartphone camera or a good point and shoot digital camera. For the best results, script the video in advance, planning exactly what you’ll do and say, and edit the script so it contains only information that’s essential to know. When you record, speak clearly and pretend there’s a customer standing where the camera is located. Speak to that pretend person. Make your showcase videos three minutes or less in length. If you can’t show all the features in three minutes, use multiple videos to demo the product.

RELATED: How to Make a Video on the Cheap

3. Use YouTube as a platform to prove your own expertise

Your customers and prospects are looking for the best product or service they can afford to satisfy their needs. They want the products or services, the company and the people who represent the company to be the top in their field. Bragging about expertise doesn’t cut it. The way to let your personal or business expertise shine through is to post informative videos containing tips and hints, results of studies you’ve conducted, case histories describing solutions you’ve provided, and other material that demonstrate your expertise and make it believable to the audience. If you are camera-shy or don’t have anyone who can take a good video of you talking to the camera, create and narrate a short PowerPoint presentation. 

4. Use YouTube as a medium to present customer testimonials

It’s one thing if your customers see you talking about your product and showing the world how it works. It’s quite another if 10 people sing your praises. Customers identify with other customers, so if you have some customers who rave about your business, don’t be afraid to get their permission and take videos of them talking about their experiences. Whether the customer was particularly pleased with you, your products, or both, his or her message will be a powerful voice in favor of your business. To encourage customers to give you these video testimonials, don’t try to get them to come to your office or go to a recording studio. If you’re speaking to someone in person, simply ask if you could record their comments and then whip out your smartphone and start recording. The videos will seem more true to life than they would if they were recorded in a formal setting, and thus gain more interest from viewers. 

RELATED: Video Marketing Mistakes That Cost You Sales

Whether your products are complex or not, upload instructional videos that demonstrate in a step-by-step way how to use your product for various tasks. Doing so makes sense from a marketing point of view because buyers often want to know what’s involved with using a product or service before they buy it. Other potential customers may want to have videos available because they prefer viewing videos to reading a manual. (The how-to-use videos will provide an added benefit for you, too, since they may cut down on support calls.)

The ideal length for instructional videos according to one study is 6 minutes or less. One might cover how to put together the product (if assembly is required), another might be operating and/or safety tips, another could be special features or accessories. If you are demoing a software application, your videos could demonstrate how to get started, and how to use each feature in the software. The how-to videos you post will go hand-in-hand with your testimonials, other personable customer messages and “in action” videos so that your customers get a complete picture of you and your products.

6. As a medium for real-time marketing

For an even more personal touch, consider hosting live video events. You can do so on a budget by scheduling a YouTube Live Stream. Use the event to launch a new product, run a webinar, answer customer questions, interview experts on subject matter related to your field, or run a workshop. Your event will be broadcast live on YouTube and can then be added to your YouTube channel.

Market your marketing videos

Once you’ve recorded and posted the videos, be sure to market them. With an estimated 500 hours of video being uploaded to YouTube every minute, you will need to promote your videos to help get them found. Advertise your video with links on your website, your email list, and postings to your social media pages. The more opportunities you give prospects to interact with your brand, the better your chances are of winning new business. 

© 2015 Attard Communications, Inc. All Rights Reserved. May not be reproduced, reprinted or redistributed without written permission from Attard Communications, Inc.

Stock Market Retreats Off Record Highs as Facebook Prepares to Report Financial Results

3 min read

Opinions expressed by Entrepreneur contributors are their own.

The stock market retreated off all-time highs set yesterday with the major stock indexes posting small declines today.

The S&P 500 and Dow indexes were both down 0.22 percent while the Nasdaq Composite index fell 0.23 percent. The Entrepreneur Index™ had a loss of 0.19 percent on the day.

The technology sector was generally weak with the exception of semiconductor chipmakers Analog Devices and NVIDIA Corp. Both were up after strong earnings from Texas Instruments today lifted the entire chip sector. Analog Devices, up 2.79 percent, set a 52-week high today. Chipmakers have had a strong recovery from the plunge at the end of last year. Analog’s stock is up 36.7 percent this year while NVIDIA is up 43.2 percent.

Most other tech stocks on the index were down. Netflix (-2.01 percent) and Amazon (-1.14 percent) had the biggest declines.

Gap Inc. and L Brands both had strong days in the market, rising 3.31 percent and 3.24 percent respectively. L Brands, which recently struck a deal with activist investor Barington Capital to support the company’s independent board of director nominees, has risen sharply in the last two sessions, putting its return for the year-to-date (1.79 percent) in positive territory. Gap, up just 0.47 percent so far this year, plans to split off its Old Navy brand from the rest of the company.

Other good gains on the Entrepreneur Index™ included Under Armour Inc. (2.01 percent) and Universal Health Services (1.74 percent).

Rollins Inc. shares got pummeled after the company reported financial results that missed estimates for the second consecutive quarter. The stock was down 10.06 percent — the biggest loss on the Entrepreneur Index™ today. The pest control company missed earnings estimates by a penny and posted quarterly revenues more than one percent below expectations. The stock is still up 8.8 percent this year.

Oil and gas producer Hess Corp. fell 2.39 percent after inventories of U.S. crude oil increased by more than expected last week. Hess is the hottest stock on the Entrepreneur Index™ this year, rising 62.6 percent as the price of oil has rebounded.

Drug-makers Alexion Pharmaceuticals (-1.72 percent) and Regeneron Pharmaceuticals (-1.07 percent) were both down today after strong gains yesterday.

Tesla was also down sharply, falling 1.99 percent ahead of the company reporting financial results after the market close today. A CFRA analyst suggested that first quarter numbers “could be a disaster” for the company. Tesla reported profits in the last two quarters.

Four other companies on the Entrepreneur Index™ will report financial results after the market close today:

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Twitter Ignites Technology Sector, Helping Push the Stock Market to Record Highs

The S&P 500 and Nasdaq indexes set new all-time highs as the Entrepreneur Index™ soars.

3 min read

Opinions expressed by Entrepreneur contributors are their own.

In the busiest week of this corporate earnings season, companies are delivering the results and pushing the stock market to record highs.

Twitter led the parade. The social media leader handily beat analyst expectations and saw its shares jump 15.64 percent — by far the biggest gain on the Entrepreneur Index™ today. Stocks were strong across all sectors of the market, however. Tech, healthcare and REIT stocks helped the Entrepreneur Index™ post a 1.38 percent gain today and set a record high.

The broader S&P 500 and Nasdaq Composite indexes were up 0.88 percent and 1.32 percent respectively, both also setting new all-time highs in the process. The Dow index was up 0.55 percent and is within a percentage point of its high set last October.

Twitter’s stellar numbers lit a fire under the entire technology sector today. Revenues were up 18 percent over last year’s first quarter and earnings easily beat estimates. Most impressive was the increase in active users on the network, up 9 million from last quarter to 330 million. With Twitter still battling automated and abusive accounts on the platform, analysts expected another decline in active users. The jump today gives the stock a year-to-date return of 38.4 percent.

The rest of the tech sector surged as well. All four FAANG stocks on the index were up more than one percent, with Amazon.com (1.95 percent) rising the most. TripAdvisor Inc. (3.34 percent), Adobe Systems Inc. (2.3 percent) and salesforce.com (1.56 percent), also had good gains.

Healthcare stocks, one of the worst sectors in the market this year, rose sharply. Weighed down by concerns about Democratic plans for universal healthcare and regulation of drug prices, the sector threw caution to the wind today. Drug-makers Regeneron Pharmaceuticals and Alexion Pharmaceuticals were up 3.03 percent and 2.64 percent respectively. Hospital manager Universal Health Services was up 4.21 percent and medical device-maker Boston Scientific gained 2.75 percent.

The REIT market rebounded nicely today after a down day yesterday. The sector has been hobbled by weak home sales and high commercial vacancy rates of late. All nine REITs on the Entrepreneur Index™ were up today, however. Boston Properties (2.46 percent) and Kimco Realty Corp. (2.4 percent) had the biggest gains in the group.

Other notable gains on the index included Tyson Foods (2.2 percent), asset manager BlackRock (2.16 percent) and Cognizant Technology (1.92 percent).

Only six of 60 stocks on the index were down today. Retailer Gap Inc. and oil and gas producer Hess Corp. had the biggest declines, falling 0.63 percent and 0.62 percent respectively. Hess took a breather today despite the price of oil rising another 0.99 percent today. The stock is up 66.6 percent this year. Other losses on the index included Fedex Corp. (-0.43 percent), Bed Bath & Beyond (-0.36 percent), Brown-Forman Corp. (-0.23 percent) and Comcast (-0.02 percent).

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

What is a Freakshake and How Can It Be Used to Market Your Small Restaurant?

Have you heard of the Freakshake trend? Freakshakes refer to huge milkshakes loaded with ice-cream, cream and flavored sauces. But they also include unlikely ingredients. Think donuts, cake, biscuits, brownies and other sweet delights. Freakshakes have become huge in the food service industry.

Small restaurateurs should consider capitalizing on the freakshake trend. Put this deliciously popular type of milkshake or dessert on your menu?



What is a Freakshake?

Want to create a Freakshake for your small restaurant? Fill a large glass jug with a luxury milkshake. Make this with ice cream and chocolate, strawberry or another flavored sauce. Then pile up goodies that look as delicious, striking and ‘sinful’ as possible.

These goodies include cake, donuts, waffles, marshmallows, fruit, chocolate and more. Then throw a handful of sweets on top for good measure.

Want to know how far the freakshake phenomenon has gone. Well, some restaurants even offer savory freakshakes. And they include ingredients like cheese and pulled pork replacing donuts and waffles.

Where Did Freakshakes Originate?

This high calorific dessert supposedly originated in Australia in 2015. A café in Canberra seems the likely creator of the drink.

The savvy café owners in Canberra designed the freakshake for a very specific purpose. They were created to be “so ridiculous and over-the-top that people just had to take a photo of it before they ate it.”

Thanks to the sharing power of social media, these oversized, ultra-sweet milkshakes quickly became a global sensation, with cafes, restaurants and customers delighting in sharing their freakshakes to followers, and the more flamboyant, striking and gastronomically sinful, the better.

Freakshakes and Instagram

These brightly-colored edible creations are made to be photographed and shared around the world on social media, with the photo-sharing portal Instagram being a favorite channel for restaurants and freakshake-happy customers to share their freakshake images.

A mere search of #freakshake on Instagram brings up more than 50,000 posts, each trying to outdo each other on the flamboyant stakes.

Rather than being pictured toasting with a glass of bubbly or a pint of beer, social media users are posting pictures of themselves raising their freakshake glasses, accompanied with their location in the world and often the name of the establishment that has served them the delicious freakshake.

The Opportunities of Freakshake Marketing

It’s not uncommon for the biggest, boldest and most daring of freakshake posts to go viral. The trend to share images of outstanding freakshakes on social media presents a wealth of marketing opportunities for restauranteurs, cafes and ice-cream shops.

Serving over-the-top freakshakes to your customers will encourage them to share the mouth-watering milkshake/dessert that lies before them on social media, meaning your creation is shared around the world and could event go viral.

Boost Your Restaurant’s SEO

Research shows that around 126,000 Googles searches are made for ‘freakshake’, meaning if your website, online menu, social media profiles and other digital entities includes the word ‘freakshake’, your rankings on search engines like Google could significantly improve, helping you pull in more customers as a result of your freakshake marketing.

As well as being a powerful marketing force for ice-cream businesses, cafes, restaurants and bars around the world, the great thing about freakshakes is they’re not difficult, too timely or expensive to make.

All you need is plenty of ice-cream, cream, sweet sauce, sticky sweet treats, sugar, sweets and whatever other deliciously sinful treats tickle your fancy, thrown in with some creativity and daringness and you’ll have a masterful culinary creation your customers will love you for.

Given the popularity, trendiness and potent promotional potential of freakshakes, ask yourself – is a freakshake something your business can afford to ignore?

Image: Depositphotos.com

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The Brag Basket is the “good news” market

We’re always in the market for some good news, and the Brag Basket is the place to share it. Photo via RawPixel.

The Brag Basket is open! This one is for April 12-14, 2019. Bring your good news, big or small, to share with everyone.

What can you share in the Brag Basket?

  • introduce yourself
  • share some great news from this week
  • celebrate progress, even baby steps
  • congratulate a friend
  • applaud for each other
  • confess your undying love for rural places

Don’t like to brag? Just share some good news for someone you’re happy for. It’s a conversation with friends. So jump in. And remember to cheer for each other.

How do you join in?

Below this post is the comment section. Add your good news there.

Reading this in your email? Hit reply.

Some weeks you’ll find even more comments on our Facebook Page.

Want to see some past Brag Baskets and read some past contributions? Here’s the archive.

The Next Potential Trade War Unsettles Stock Market

U.S. relations with Europe, not China, were the catalyst this time.

3 min read

Opinions expressed by Entrepreneur contributors are their own.

After closing yesterday, the U.S. Trade Representative proposed an $11 billion list of European goods, including commercial aircraft, dairy products and wine, on which to impose tariffs. The U.S. is considering the actions as retaliation for European subsides to Airbus and the aerospace sector. Separately, the International Monetary Fund lowered its estimate for global economic growth this year to 3.3 percent from 3.5 percent.

The major stock indexes were all down sharply. The Dow and S&P 500 indexes fell 0.72 percent and 0.61 percent respectively, while the Nasdaq Composite was off 0.56 percent. The Entrepreneur Index™ ended the day down 0.53 percent.

Starboard Value LP is making waves at companies on the Entrepreneur Index™. Yesterday, the activist investor backed off a fight with management at retailer Dollar Tree Inc. after the company agreed to make changes to its product pricing strategy. Today, it struck a deal with Cerner Corp., a provider of healthcare information technology, to install four new directors on Cerner’s board, increase operating margins, and boost its share buyback program. Cerner stock was up as much as 16 percent before settling with a gain of 10.3 percent — the biggest on the Entrepreneur Index™ today.

Clothing-maker Under Armour Inc. had the biggest decline on the Entrepreneur Index™, falling 4.69 percent. B. Riley analyst Susan Anderson reiterated a sell rating on the stock, pointing to the company’s weakness in athletic footwear as a reason for concern. She put a price target of $12 on the stock — more than 40 percent below its current $20.72.

Shares in casino-maker Wynn Resorts, up 40.8 percent this year, were down 3.86 percent today. The company announced it had terminated discussions to buy Australian firm Crown Resorts for $7.1 billion after news of the deal was prematurely leaked. Wynn is looking to diversify its operations in Macau, where its gaming licenses are up for renewal in 2022. Macau currently accounts for about two thirds of Wynn’s revenues.

Other declines on the Entrepreneur Index™ included asset managers Franklin Resources (-2.81 percent) and BlackRock (-1.42 percent) and drug-makers Regeneron Pharmaceuticals (-1.38 percent) and Alexion Pharmaceuticals (-1.5 percent). Gap Inc. and REIT SL Green Realty Corp. were also down 2.95 percent and 2.34 percent respectively.

Only 12 of sixty stocks on the Entrepreneur Index™ posted gains today. Outside of Cerner Corp., tech stocks TripAdvisor Inc. (1.55 percent) and Facebook (1.51 percent) had the biggest gains. Food-maker J.M. Smucker Company was also up 1.27 percent.

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.