Market Currents

• Monday, November 2, 2009

• 09:44 AM Starwood Hotels (HOT -2%) slashes its dividend by 78% to $0.20/year from $0.90. In its Q3 earnings report last month, Starwood predicted a slow recovery for the hotel industry, seeing RevPAR flat to down 5% in 2010. Comment!

• Thursday, October 22, 2009

• 00:05 AM Notable pre-market earnings: AUO, BDK, BG, BMY, CBE, CELG, CHKP, CIT, CNX, DAL, DHR, DO, DOW, EMC, ERIC, ESV, ETR, FITB, GR, HBAN, HOT, HSY, JBLU, JNS, KMB, LCC, LH, LM, MCD, MJN, MMM, MRK, NCR, NIHD, NUE, NVS, NYT, ORI, OXY, PDS, PLD, PM, PNC, POT, R, RAI, RGC, RS, RTN, RX, SGP, STI, SY, T, TASR, TIN, TMO, TRA, TRV, UNP, UPS, XRX, ZMH Comment!

• Monday, August 24, 2009

• 17:22 PM Soleil's Jake Fuller and S&P's Mark Basham spar over whether to buy or sell the hotel recovery - specifically Starwood Hotels & Resorts Worldwide (HOT), whose shares have nearly tripled since March. 4 Comments

• Thursday, July 23, 2009

• 08:01 AM Starwood Hotels & Resorts Worldwide (HOT): Q2 EPS of $0.22 beats by $0.05. Revenue of $1.2B (-23%) in-line. Issues downside guidance: sees Q3 EPS of $0.06-0.10 vs. $0.21 consensus, FY '09 EPS of $0.65 vs. $0.76 consensus. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ALXN, BG, BLL, BMY, CBE, CELG, CLS, CME, DHR, DO, ECA, EMC, ESI, ESV, F, FITB, FLIR, GR, HBAN, HOT, HSY, IGT, JBLU, KMB, LCC, LLL, MMM, NCR, NEM, NIHD, NOC, NUE, NYT, OMC, ORI, OXY, PLD, PM, PNC, POT, R, RAI, RS, RTN, RX, SIAL, SPNC, T, TIN, TMO, TRA, UNP, UPS, WYE, XRX, ZMH Comment!

• Thursday, April 30, 2009

• 07:13 AM Starwood Hotels & Resorts Worldwide (HOT): Q1 EPS of $0.14 beats by $0.10. Revenue of $1.1B (-23.7%) in-line. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: APA, ASH, AZN, BC, BWA, CAH, CELG, CI, CINF, CL, CLI, CMCSA, CMS, COCO, COV, CTL, D, DLR, DOW, EK, ENTG, EQT, ERIC, EXPE, FAF, GTI, HOT, HP, IP, IRM, K, KBR, KIM, KSU, LKQX, LNT, MRO, MOT, MYL, NBL, NEM, NRG, NWL, NYX, OC, OCR, OMX, OSK, PDE, PEI, PG, PTEN, RGC, RYN, SEPR, SPR, SWY, TRV, TSM, TYC, VIA.B, WMB, WPI, XEL, XOM Comment!

• Monday, April 27, 2009

• 07:45 AM Airline, hotel, and cruise stocks are down in early premarket trading on fears the flu threat could be disastrous for international travel. AMR -16%. UAUA -6.5%. LUV -2%. CCL -8.5%. HOT -6%. MAR -6%. Comment!

• Thursday, April 16, 2009

• 19:04 PM Starwood (HOT) is suing Hilton, accusing its rival of using stolen confidential Starwood documents to develop a new luxury hotel chain. (WSJ) Comment!

• Friday, March 20, 2009

• 09:01 AM Premarket losers: ERIC -9%. SPG -8%. AIG -6%. NOK -5%. HBC -5%. DRYS -5%. BBI -6%. FRE -5%. HBC -5%. SIRI -6%. AU -4%. HOT -3%. FNM -3%. Comment!

• Thursday, January 29, 2009

• 06:39 AM Starwood Hotels & Resorts Worldwide (HOT): Q4 EPS of $0.49 beats by $0.13. Revenue of $1.33B (-17.2%) vs. $1.39B. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: AEP, AMB, AN, AZN, BC, BDK, BLL, CAL, CELG, CL, CNX, D, EK, EQT, ERIC, F, FCS, FO, GNTX, HOT, HP, IP, ITW, JBLU, LCC, LEA, LLL, LLY, MMM, MO, MPW, NWL, OSK, OXY, PCZ, RCL, RDS.A, RTN, SEIC, SII, SNE, TKR, TROW, TXT, XEL, YRCW, ZMH Comment!

• Thursday, October 23, 2008

• 09:15 AM Premarket losers: ACL -18.8%. AAI -16.8%. ABB -15.4%. AMZN -14.3%. SNE -10.2%. TEX -9.1%. CDNS -8.6%. ING -7.9%. BCS -7.4%. MT -6.6%. HOT -6.4%. Comment!
• 06:20 AM Starwood Hotels (HOT): Q3 EPS of $0.71 beats by $0.18. Revenue of $1.53B (-0.3%) in-line. "While we can’t control the economic environment, we can right-size our organization to offset the effects of slowing travel demand," CEO Frits van Paasschen says. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: AAI, ALK, ALXN, AMTD, AUO, AVT, BC, BEN, BG, BMY, CBE, CCE, CELG, CNX, DO, DOW, ECA, ECL, ELN, EME, EPD, EQT, ESI, ESV, F, FLIR, GR, HOT, JBLU, JCI, JNS, LCC, LH, LLL, LLY, LTM, LVLT, MO, NIHD, NOV, NYT, ORI, PCZ, PDS, PLD, POT, RGC, RHD, RSH, RTN, RX, SO, STI, TMO, TRA, UNP, UPS, XEL, XRX, ZMH Comment!

• Monday, August 25, 2008

• 12:31 PM "Just because consumer stocks are staging the biggest rally in five years doesn't mean the economy is about to recover." A quick look at their debt premiums makes a bet against LOW, WEN, and HOT very appealing. Comment!