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Stock Alert: Marriott Vacations Drops 6%

Shares of Marriott Vacations Worldwide Corporation (VAC) are down more than 6% Thursday morning after the company's second-quarter earnings missed the consensus estimates.

Loss per share on an adjusted basis was $1.76, which missed the average estimate of analysts polled by Thomson Reuters for $1.24 loss.

Revenue for the quarter fell to more than half at $480 million from $1.043 billion in the same quarter a year ago, badly impacted by coronavirus pandemic.

From May, resort occupancies are quickly building in states where the restrictions have been lifted, said Stephen P. Weisz, president, and chief executive officer. The company has reopened about 70% of its properties.

Marriott Vacations stock is currently trading at $84.52. It has been trading in the range of $30.10- $131.27 in the past one year.

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