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News Breaks
June 18, 2014
07:31 EDTMAR, HOT, HJPMorgan sees further upside to lodging stocks
JPMorgan believes the positive RevPAR growth cycle in the lodging space has further room to run as do the stocks in the sector. The firm raised its price target for Marriott (MAR) shares to $70 from $65, for Starwood (HOT) to $87 from $85 and for Hyatt Hotels (H) to $66 from $63. JPMorgan keeps Overweight ratings on all three names.
News For MAR;HOT;H From The Last 14 Days
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August 1, 2014
09:03 EDTHOTStarwood board increases share repurchase authorization to $1.5B
Starwood Hotels & Resorts Worldwide announced that its board approved a new $1.1B share repurchase authorization. Including approximately $400M remaining under the prior authorization, Starwood’s total share repurchase authorization is now approximately $1.5B. Starwood has repurchased approximately $200M of shares to date in 2014 and expects to accelerate the pace of its repurchases.
08:58 EDTHHyatt Hotels price target raised to $67 from $61 at RW Baird
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05:43 EDTHHyatt Hotels downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse downgraded Hyatt Hotels to Underperform citing valuation, a lack of catalysts and the company's "unimpressive" Q2 results. The firm lowered its price target for shares to $55 from $56.
July 31, 2014
07:35 EDTHHyatt Hotels sees strong transient demand in the Americas
The company says "Looking ahead, we expect strong transient demand in the Americas and U.S. hotel supply growth to remain low in most markets. U.S. group pace for the coming years continues to improve giving us the confidence that we will continue seeing strong progression in overall rates and higher levels of food and beverage revenues. We remain focused on driving colleague, guest and owner preference for our brands and are well positioned for strong growth in the years ahead." Adjusted SG&A expense is expected to be approximately $325 million in FY14. Capital expenditures are expected to be approximately $300 million, including approximately $125 million for investment in new properties. In addition to the capital expenditures described above, the Company intends to continue a strong level of investment spending. Investment spending includes acquisitions, equity investments in joint ventures, debt investments, contract acquisition costs or other investments. Depreciation and amortization expense is expected to be approximately $370 million. Interest expense is expected to be approximately $75 million. The Company expects to open approximately 40 hotels in 2014.
07:34 EDTHHyatt Hotels reports Q2 adjusted EPS 47c, consensus 45c
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July 30, 2014
15:40 EDTHNotable companies reporting before tomorrow's open
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10:44 EDTMARMarriott sees North America RevPAR higher in Q3 than Q4
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10:23 EDTMARMarriott says group demand 'looking very good'
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July 29, 2014
16:49 EDTMARMarriott sees FY14 EPS $2.40-$2.51, consensus $2.47
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16:47 EDTMARMarriott sees Q3 EPS 59c-63c, consensus 61c
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16:45 EDTMARMarriott reports Q2 adjusted EPS 71c, consensus 67c
Reports Q2 revenue $3.48B, consensus $3.53B. Reports Q2 North American comparable systemwide RevPAR rose 6.0% with average daily rates up 3.7%. On a constant dollar basis, worldwide comparable systemwide RevPAR rose 5.8% in Q2, including a 3.5% increase in average daily rate
15:53 EDTMARNotable companies reporting after market close
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July 25, 2014
10:02 EDTHOTOn The Fly: Analyst Downgrade Summary
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05:35 EDTHOTStarwood downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Starwood Hotels to Market Perform saying the CEO's capital allocation strategy is disappointing. The firm keeps an $81-$83 price target range for shares.
July 24, 2014
11:03 EDTHOTStarwood says Q3 North America trends to remain positive
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06:08 EDTHOTStarwood sees Q3 EPS 62c-65c, consensus 67c
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06:07 EDTHOTStarwood sees FY14 adjusted EPS $2.78-$2.85, consensus $2.84
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06:05 EDTHOTStarwood reports Q2 ex. items EPS 77c, consensus 76c
Reports Q2 revenue $1.54B, consensus $1.54B
06:04 EDTHOTStarwood reports Q2 worldwide systemwide REVPAR for same-store hotels up 5.3%
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July 22, 2014
08:19 EDTHHyatt Hotels announces organization changes
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