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Stock Market & Financial Investment News

News Breaks
June 11, 2014
09:01 EDTFCHFelcor sells two non-strategic hotels for aggregate gross proceeds of $54.1M
FelCor Lodging Trust Incorporated announced that it has sold its 196-room Doubletree Suites Hotel-Dana Point and its 251-room Embassy Suites Hotel-BWI Airport for aggregate gross proceeds of $54.1M. FelCor continues to progress with its portfolio repositioning plan. The company is currently negotiating contracts or has agreed to sell four other hotels for aggregate proceeds of approximately $73M. FelCor is using asset sale proceeds to repay outstanding debt. To date, FelCor has sold 28 non-strategic hotels for aggregate gross proceeds of $627M.
News For FCH From The Last 14 Days
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March 25, 2015
14:11 EDTFCHSunTrust downgrades hotel stocks citing macro trends, weak bookings
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10:00 EDTFCHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AB InBev (BUD) downgraded to Reduce from Overweight at HSBC... BreitBurn Energy (BBEP) downgraded to Sell from Neutral at UBS... DiamondRock (DRH) downgraded to Reduce from Neutral at SunTrust... Ethan Allen (ETH) downgraded to Hold from Buy at Gabelli... Felcor Lodging (FCH) downgraded to Neutral from Buy at SunTrust... Finish Line (FINL) downgraded to Neutral from Buy at B. Riley... Hannover Re (HVRRY) downgraded to Sell from Hold at Deutsche Bank... Hersha Hospitality (HT) downgraded to Reduce from Neutral at SunTrust... Host Hotels (HST) downgraded to Reduce from Neutral at SunTrust... ING Groep (ING) downgraded to Neutral from Buy at Goldman... Informatica (INFA) downgraded to Neutral from Buy at Mizuho... Kofax (KFX) downgraded to Hold from Buy at Canaccord... LRR Energy (LRE) downgraded to Sell from Neutral at UBS... LaSalle Hotel (LHO) downgraded to Reduce from Neutral at SunTrust... Munich Re (MURGY) downgraded to Sell from Hold at Deutsche Bank... Orbital ATK (OA) downgraded to Market Perform from Outperform at Wells Fargo... PCTEL, Inc. (PCTI) downgraded to Neutral from Buy at B. Riley... Quest Diagnostics (DGX) downgraded to Hold from Buy at Deutsche Bank... SJW Corp. (SJW) downgraded to Neutral from Outperform at RW Baird... Selective Insurance (SIGI) downgraded to Neutral from Buy at BofA/Merrill... Sonus (SONS) downgraded to Hold from Buy at Wunderlich... Starwood (HOT) downgraded to Neutral from Buy at SunTrust... Synchrony Financial (SYF) downgraded to Neutral from Buy at BofA/Merrill... Tesla (TSLA) downgraded to Underperform from Outperform at CLSA... Twitter (TWTR) downgraded to Hold from Buy at Pivotal Research... ZAGG (ZAGG) downgraded to Market Perform from Outperform at Northland... iDreamSky (DSKY) downgraded to Neutral from Overweight at JPMorgan.
07:04 EDTFCHFelcor Lodging downgraded to Neutral from Buy at SunTrust
SunTrust's industry checks indicate significant weakness in forward bookings due to FX impact on international tourism, lower oil prices, and increased supply. The firm said companies with the most exposure to New York City, Los Angeles, Hawaii, Miami, Seattle, and Houston have the most risk. Additionally, SunTrust said Q2-Q3 U.S. Upper Upscale RevPAR tracking is only tracking to the low-end of the +4-6% range. Due to exposure to the markets at risk and valuation, SunTrust downgraded Felcor to Neutral and maintained its $13 price target.
March 19, 2015
14:11 EDTFCHFelcor Lodging sees FY16 adjusted FFO $1.18, consensus $1.01
14:09 EDTFCHFelcor Lodging sees FY16 core RevPar $162M
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14:07 EDTFCHFelcor Lodging sees FY16 adjusted FFO $1.18
Guidance taken from company slides presentation.
March 18, 2015
08:39 EDTFCHFelcor Lodging announces sale of Embassy Suites San Antonio for $29.5M
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