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.
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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.
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Thursday, July 23, 2009
08:01 AMStarwood 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)
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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%.
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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)
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06:20 AMStarwood 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)
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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 againstLOW, WEN, and HOT very appealing.
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