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Stock Market & Financial Investment News

News Breaks
November 20, 2012
11:39 EDTHOTSheraton Hotels & Resorts invests $230M to renovate four Hawaiian properties
The revitalization projects include the $188M renewal of the Sheraton Waikiki, the $6.5M renovation of the Sheraton Maui Resort & Spa, a $16M upgrade to the Sheraton Kauai Resort, and a $20M refresh of the Sheraton Kona Resort & Spa at Keauhou Bay.
News For HOT From The Last 14 Days
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May 6, 2015
07:40 EDTHOTStarwood price target raised to $100 from $88 at Susquehanna
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05:38 EDTHOTStarwood to double middle east portfolio in next five years
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May 4, 2015
07:21 EDTHOTStarwood could obtain $100 per share or more in takeout, says JMP Securities
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May 1, 2015
16:31 EDTHOTMarket ends week lower as Apple, Twitter pull back after earnings
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April 30, 2015
13:21 EDTHOTMarriott CEO says bid for Starwood unlikley
Marriott CEO Arne Sorenson said on CNBC that a bid for Starwood (HOT), which is exploring strategic options, is unlikely as it does not compare well to the company's previous details. Sorenson added that he's not ruling out interest in Starwood.
06:58 EDTHOTStarwood could look to bid for or merge with rival, Daily Mail reports
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April 29, 2015
16:57 EDTHOTOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street began the session in negative territory and remained there throughout the day. The market struggled from the outset following disappointing data that showed GDP growth was anemic in the first three months of this year. The market moved in a narrow range in the early part of the session as investors waited for the results of the FOMC meeting. The initial reaction to the FOMC rate and policy statement was a bit of buying, which brought the averages within striking distance of the flat line. There was little in the way of momentum, however, and the sellers regained control into the close. ECONOMIC EVENTS: In the U.S., GDP growth was reported to have slowed to a 0.2% rate in Q1, which was much weaker than the 1% annualized growth rate that was expected. The pending home sales index rose 1.1% to 108.6 in March, which was a tick better than forecast. As expected, the Federal Reserve announced that it would keep the target range for the federal funds rate at 0%-0.25%. The Fed said that it anticipates raising the target range when the labor market has improved further and it is reasonably confident that inflation will increase to 2% over the medium term. The central bank reiterated that it anticipates that economic conditions may warrant keeping the interest rate below normal levels for some time, even after employment and inflation reach its goals. COMPANY NEWS: Shares of Salesforce.com (CRM) jumped $7.76, or 11.6%, to $74.65 after Bloomberg said the company has hired financial advisers to field takeover offers after the company was approached by a potential acquirer... Starwood Hotels (HOT) climbed $6.73, or 8.33%, to $87.53 after the company announced that it would explore "a full range" of strategic and financial alternatives to increase shareholder value. Starwood also reported first quarter earnings per share from continuing operations, excluding certain items, that topped consensus this morning. MAJOR MOVERS: Among the notable gainers was GoPro (GPRO), which rallied $5.94, or 12.63%, to $52.96 after the action camera maker's first quarter results and second quarter outlook widely topped analysts’ consensus estimates. Also higher was XPO Logistics (XPO), which jumped $6.38, or 15.03%, to $48.83 after agreeing to acquire Norbert Dentressangle, a provider of contract logistics. Among the noteworthy losers was Stratasys (SSYS), which fell $11.37, or 22.16%, to $39.93 after the 3D printer maker reported preliminary earnings below analyst expectations and cut its fiscal year guidance. Also lower were shares of Lumber Liquidators (LL), which dropped $6.66, or 19.93%, to $26.76 after the company reported earnings, said that its CFO has left and disclosed that the DOJ indicated that it is seeking criminal charges under the Lacey Act. INDEXES: The Dow fell 74.61, or 0.41%, to 18,035.53, the Nasdaq lost 31.78, or 0.63%, to 5,023.64, and the S&P 500 declined 7.91, or 0.37%, to 2,106.85.
15:54 EDTHOTHilton doesn't appear to be in line to acquire Starwood, says Wells Fargo
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12:55 EDTHOTOn The Fly: Top stock stories at midday
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12:43 EDTHOTStarwood corrects FY15 cash flow from operations outlook
Starwood Hotels & Resorts Worldwide is correcting the outlook for cash flow from operations it provided in today’s Q1 earnings release. The cash flow from operations range provided in the earnings release excludes expected vacation ownership investment in inventory. It does not include the expected vacation ownership investment in inventory as previously stated. The corrected outlook is as follows: Cash flow from operations is expected to be approximately $850M-$950M. Cash flow from operations excludes vacation ownership investment in inventory expected to be approximately $160M which includes approximately $80M related to the development of the Westin Nanea Ocean Villas, the third phase of the Westin Ka’anapali Ocean Resort Villas.
11:09 EDTHOTWells Fargo skeptical Starwood can hold gains after starting strategic review
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09:26 EDTHOTOn The Fly: Pre-market Movers
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09:18 EDTHOTWells sees Starwood selling off as strategic review progresses
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09:13 EDTHOTStarwood knew of hedge fund investors in stock, CNBC's Faber says
Starwood knew of a large hedge fund investor base, including potentially JANA and Third Point, before undertaking the strategic review process, CNBC's David Faber reports. Starwood wanted to get ahead of any potential activism, Faber said on the network.
09:09 EDTHOTStarwood volatility up into Q2 and explore strategic and financial alternatives
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07:09 EDTHOTStarwood sees Q2 EPS 70c-74c, consensus 79c
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07:08 EDTHOTStarwood sees FY15 EPS ex-items $2.94-$3.04, consensus $2.97
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07:07 EDTHOTStarwood reports Q1 continuing ops EPS 65c ex-items, consensus 57c
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07:01 EDTHOTStarwood to explore strategic and financial alternatives
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April 28, 2015
15:07 EDTHOTNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include MasterCard (MA), consensus 80c... Time Warner (TWX), consensus $1.09... Mondelez (MDLZ), consensus 38c... NextEra Energy (NEE), consensus $1.27... General Dynamics (GD), consensus $1.95... Lumber Liquidators (LL), consensus 16c... Southern Co (SO), consensus 58c... Anthem (ANTM), consensus $2.66... Praxair (PX), consensus $1.44... Norfolk Southern (NSC), consensus $1.00... Eaton (ETN), consensus 98c... Thomson Reuters (TRI), consensus 45c... Franklin Resources (BEN), consensus 86c... Northrop Grumman (NOC), consensus $2.27... Hilton Worldwide (HLT), consensus 12c... Exelon (EXC), consensus 69c... Humana (HUM), consensus $2.56... International Paper (IP), consensus 80c... Hess (HES), consensus ($1.05)... Level 3 Communications (LVLT), consensus 33c... Starwood Hotels & Resorts (HOT), consensus 57c... Ametek (AME), consensus 63c... Garmin (GRMN), consensus 57c... Quintiles Transnational (Q), consensus 71c... New York Community Bancorp (NYCB), consensus 26c... Spirit Aerosystems (SPR), consensus 92c... Spirit Airlines (SAVE), consensus 96c... Brunswick (BC), consensus 61c... KBR (KBR), consensus 17c... Linn Energy (LINE), consensus (20c)... Cullen/Frost Bankers (CFR), consensus $1.09... WEX (WEX), consensus 99c... RPC (RES), consensus 11c... Hercules Offshore (HERO), consensus (38c).
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