Wall Street Pleased with Marriot's Q3 Results and Guidance

Excerpt from our One-Page Annotated News Summary:

Marriott: Room to Move Higher? (Business Week)

Summary: Shares of Marriot Int'l (MAR) jumped 6.5% yesterday to $40.85, and hit a new intra-day 52-week high of $41.18, following better-than-expected Q3 results and a positive outlook for Q4 and 2007. Adjusted income from continuing operations was up 12% and adjusted EPS increased by 21% to 34 cents. The important industry metric of revenue per available room (or RevPAR) increased 9.4% on a global basis and 8.6% in N. America. RevPAR growth of 7-8% is expected in '07. Morgan Stanley has an "equal-weight" rating and $46 price target, and S&P has a "hold" rating and $41 target on Marriot.
Related links: Full article • Marriot: Q3 Earnings News Release • Reuters: Marriott profit falls 5 pct, but tops view • Barron's Tips for a Prosperous Retirement
Potentially impacted stocks and ETFs: Four Seasons (FS) +2.79% yesterday, Hilton Hotels (HLT) +3.96% yesterday; reports earnings Oct. 31 before market open, Orient-Express Hotels (OEH) +3.02% yesterday and Starwood Hotels & Resorts (HOT) +4.55% yesterday; reports earnings Oct. 26 before market open.

Comment on this article

Seeking Alpha's One-Page Annotated News Summary summarizes all today's major stock-related news. Receive it by email every weekday morning (free/no spam).

Seeking Alpha is not affiliated with Business Week.