Plus   Neg

Marriot Remains Firmly Negative After Initial Slump

Shares of Marriott International, Inc. (MAR) remain firmly in negative territory in afternoon trading on Tuesday after gapping open sharply lower. Marriot is currently down by 6.1 percent.

The initial move to the downside by Marriott came after the hotel operator reported third quarter earnings that exceeded expectations but weaker than expected revenues.

Marriott reported third quarter adjusted earnings of $1.70 per share on revenues of $5.05 billion per share, while analysts expected earnings of $1.31 per share on revenues of $5.37 billion.

The company also lowered its forecast for systemwide revenue per available room growth in the fourth quarter to 2 percent from its previous forecast for 2.5 to 3 percent growth.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Volkswagen Group were gaining around 3 percent in German trading after the automotive giant Thursday reported market recovery in the third quarter with improved deliveries in the month of September. For the first nine months of fiscal 2020, the company, meanwhile reported sharply lower earnings with weak revenues and sales volume. Comcast Corp. on Thursday reported a 37 percent decline in profit for the third quarter from last year, hurt primarily by revenue decline at NBCUniversal. Both adjusted earnings per share and quarterly revenues topped analysts' expectations. The company also declared a quarterly dividend. In the pre-market trade, CMCSA is trading at $42.83, up $0.85 or 2.02 percent. Regeneron announced positive results from its late stage COVID-19 outpatient trial, indicating that its antibody cocktail therapy significantly reduced virus levels and need for further medical attention. The trial results showed that investigational antibody cocktail, REGN-COV2, met the primary and key secondary endpoints.
Follow RTT