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Marriott hopes to save its bacon by saving its bacon

MariottIn an over-the-top example of watching the pennies so the dollars add up, Marriott Intl. (NYSE: MAR) has found an extra $2 million a year in its bacon. Fortune Magazine reports that the chain has abandoned uniform six-inch strip of crispy goodness in favor of strips of varying lengths. The lower price of the irregular sizes should bolster the bottom line, it hopes without harming the perception of value of its customers.

Continue reading Marriott hopes to save its bacon by saving its bacon

Analyst upgrades, downgrades and initiations: RIMM, MSFT, TOL, MAR, VZ, T ...

Analyst upgrades:
  • Citigroup upgraded Research in Motion (NASDAQ: RIMM) to Buy from Hold and added the stock to its Top Picks Live List. The firm believes RIMM's outlook is more secure given its unit growth trajectory and stabilizing margins. Citi raised its target on the stock to $100 from $65.
  • Morgan Stanley upgraded Microsoft (NASDAQ: MSFT) to Overweight from Equal Weight following the company's Q3 results it believes growth is accelerating and expectations are low. The firm raised its target on the stock to $24 from $21.
  • Deutsche Bank upgraded Huron (NYSE: HURN) to Buy from Hold as it believes bad news is already priced in and FY09 expectations are achievable. The firm keeps a $46 target on the stock.
  • Credit Suisse (NYSE: CS) was upgraded to Neutral from Sell at UBS.
  • Quicksilver (NYSE: KWK) was raised to Buy from Neutral at Banc of America/Merrill.
  • EIG Resources (NYSE: EOG) was lifted at Goldman to Conviction Buy from Neutral.

Continue reading Analyst upgrades, downgrades and initiations: RIMM, MSFT, TOL, MAR, VZ, T ...

Economic headwinds likely to weigh on Marriott

Upscale hotel chain Marriott International (NYSE: MAR) is likely to experience difficult leisure conditions for at least the next year. Further, when the economy rebounds, consumers will be looking to add back basics, rebuild nest eggs, and perhaps replace an aging car: few will be thinking about a vacation in a far away destination.

Likewise, business travelers will continue to be asked to belt-tighten: conference call when possible, meet without a night's stay when possible, and perhaps stay at lower-cost hotel when traveling great distances.

Continue reading Economic headwinds likely to weigh on Marriott

Analyst upgrades, downgrades and initiations: HOT, GOOG, WPI, LYG ...

Analyst upgrades:
  • Baird upgraded Starwood Hotels (NYSE: HOT), Host Hotels (NYSE: HST) and Marriott (NYSE: MAR) to Outperform from Neutral based on valuation and indications that negative sentiment has reached a bottom.
  • Citigroup upgraded Torchmark (NYSE: TMK) to Buy from Hold as they find the valuation attractive and think management can grow earnings and book value in 2009/2010. Despite upgrading, the firm lowered their target price to $37 from $45.
  • ASM International (NASDAQ: ASMI) was added to Goldman's Conviction Buy List.
  • Credit Suisse (NYSE: CS) was raised to Overweight from Equal Weight at Morgan Stanley.
  • Live Nation (NYSE: LYV) was upgraded at Natixis to Buy from Hold.

Continue reading Analyst upgrades, downgrades and initiations: HOT, GOOG, WPI, LYG ...

Earnings highlights: Coke, Pepsi, Hasbro, Marriott, Abercrombie, Wells Fargo and others

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Coke, Pepsi, Hasbro, Marriott, Abercrombie, Wells Fargo and others

Stocks in the news: RTP, AA, VIA, KO, ATVI, DEO, TOL, SIRI, GM ...

U.S. stocks were set for a lower open Thursday morning as futures declined ahead of the release of January retail sales and weekly employment statistics. Read more: Before the bell: Stocks set for lower open ahead of retail sales numbers

Rio Tinto (NYSE: RTP) will get a much needed $19.5 billion investment from Aluminum Corp. of China, or Chinalco, one of the world's biggest aluminum producers. This would help debt-laden RTP pay some of its debts. As part of the deal, Chinalco agreed to invest $12.3 billion in joint ventures in aluminum, copper and iron ore mining.

Alcoa (NYSE: AA) also sold its stake in Rio Tinto to Chinalco for $1 billion, well above its $300 million current value. Mind you, RTP shares declined 67% since the acquisition was made.

Continue reading Stocks in the news: RTP, AA, VIA, KO, ATVI, DEO, TOL, SIRI, GM ...

Analyst upgrades, downgrades and initiations: AKS, LEN, MAR, DE, KLAC, VIVEF ...

Analyst upgrades:
  • KeyBanc upgraded Epicor (NASDAQ: EPIC) to Buy from Hold based on several near-term catalysts that include possible convertible debt repurchases, reasonable Q4 results, a proxy fight, and a boost from the Epicor 9 product cycle in 2H09.
  • KeyBanc also upgraded AK Steel (NYSE: AKS) to Buy from Hold based on relative valuation and said the company could benefit from lower iron ore, scrap natural gas, and labor inputs.
  • JP Morgan upgraded Lennar (NYSE: LEN) to Overweight from Neutral based on relative valuation.
  • Marriott (NYSE: MAR) was upgraded to Buy from Neutral at Goldman.
  • Raymond James (NYSE: RJF) was raised to Market Perform from Underperform at Wachovia.
  • Deere (NYSE: DE) was upgraded to Outperform from Market Perform at Bernstein.
Analyst downgrades:

Continue reading Analyst upgrades, downgrades and initiations: AKS, LEN, MAR, DE, KLAC, VIVEF ...

Earnings highlights: Circuit City, Marriott, Walgreen, Pepsi Bottling, UBS and others

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Also, Jim Cramer reminds us that earnings still matter. Changing accounting rules may affect the earnings of big banks.

Upcoming quarterly reports include Alcoa Inc. (NYSE: AA), Safeway Inc. (NYSE: SWY), Yum! Brands Inc. (NYSE: YUM), Costco Wholesale Corp. (NASDAQ: COST), Monsanto Co. (NASDAQ: MON), General Electric Co. (NYSE: GE).

Visit AOL Money & Finance for more earnings coverage.

Marriott Q3 profit declines, Constellation Brands posts a Q2 loss

On Thursday, Marriott International Inc. (NYSE: MAR) said its third-quarter earnings fell 28% and warned of deteriorating conditions for 2009, and Constellation Brands Inc. (NYSE: STZ) posted a loss of nearly $23 million in its fiscal second quarter due to charges to reduce operations in Australia.

For the quarter ended Sept. 5, Marriott's net income slipped to $94 million, or 26 cents per share. Excluding a $29 million tax planning charge, adjusted income from continuing operations totaled $123 million, or 34 cents per share. Revenue rose 1% to $2.96 billion.

Analysts surveyed by Thomson Reuters had expected earnings of 32 cents per share on revenue of $2.95 billion.

Marriott said its revenue per available room declined in North America, and timeshare sales evaporated due to the tight credit market and cutbacks in business and consumer spending.

The Bethesda, Md.-based hotel company lowered its full-year 2008 earnings guidance to $1.62 to $1.68 per share, from its previous guidance of $1.77 to $1.88 per share. Analysts had forecast 2008 profit of $1.78 per share. For 2009, Marriott said the outlook is uncertain, but it expects the environment to remain challenging. Marriott said it will focus on cash flow by trimming investments and share repurchases.

Marriott shares fell $1.34, or 5.3%, to $23.74 Thursday. The stock price is down 30.5% year to date.

Continue reading Marriott Q3 profit declines, Constellation Brands posts a Q2 loss

5 ways to play the market's wild ride; credit card debt next crisis? & retirement strategies - Today in Money 10/2

Continue reading 5 ways to play the market's wild ride; credit card debt next crisis? & retirement strategies - Today in Money 10/2

Before the bell: Senate approves bill, futures down; UBS, MOS, MAR, IMCL, GE, EBAY ...

U.S. stock futures were flat to lower Thursday morning following the senate approval of its version of the $700 billion bailout package. Meanwhile, the Federal Reserve said it was considering a rate cut. Following all the economic data released Wednesday indicating the U.S. is in a recession, this isn't surprising. The ECB is also meeting today to consider its move. Today, the Labor Department will report weekly initial jobless claims and the Commerce Department will release August factory orders. Regulators also extended the ban on short-selling shares of some 800 financial companies.

UBS (NYSE: UBS), which has been hard hit by the credit crisis, said Thursday it expects to return to profit in the third quarter after four quarters of losses. The bank has substantially reduced its exposure to U.S. commercial and residential mortgages. The bank wrote down more than $40 billion and raised close to $30 billion.

Mosaic (NYSE: MOS) shares are down about 20% in pre-market trading after it missed analyst estimates when it reported its fiscal first-quarter earnings.

Marriott International (NYSE: MAR) was expected to report earnings of 32 cents a share in the third quarter. The company reported 34 centsearnings per share excluding an 8 cents adjustment.

Continue reading Before the bell: Senate approves bill, futures down; UBS, MOS, MAR, IMCL, GE, EBAY ...

Analyst calls: BIIB, ALU, LYG, MAR, HOT, JCP, MYL, CBS ...

Analyst upgrades:
  • JMP Securities upgraded Vertex Pharma (NASDAQ: VRTX) to Outperform from Market Perform following better-than-expected interim data for telaprevir.
  • Lazard Capital upgraded shares of Biogen Idec (NASDAQ: BIIB) to Buy from Hold on valuation after their physician survey indicated solid sales growth in the company's MS franchise.
  • Calyon upgraded Data Domain (NASDAQ: DDUP) to Add from Neutral based on positive channel checks and valuation.
  • Goldman added Buckeye GP (NYSE: BGH) to the Conviction Buy List.
  • Alcatel-Lucent (NYSE: ALU) was upgraded to Hold from Sell and Ericsson (NASDAQ: ERIC) was raised to Hold from Reduce at WestLB.
  • Keefe Bruyette upgraded Cowen Group (NASDAQ: COWN) to OUtperform from Market Perform.
Analyst downgrades:
  • Deutsche Bank downgraded shares of Lloyds TSB Group (NYSE: LYG) to Sell from Hold as they believe loan loss risk will outweigh synergies from the acquisition of HBOS (HBOOY).
  • Citigroup downgraded shares of National Financial Partners (NYSE: NFP) to Hold from Buy and removed the stock from the Top Picks Live List after the company announced July and August revenues and said pressure continues. The firm lowered their target to $20 from $28.

Continue reading Analyst calls: BIIB, ALU, LYG, MAR, HOT, JCP, MYL, CBS ...

Earnings highlights: GE, Alcoa, Marriott, Pepsi Bottling, Wal-Mart, Boeing and others

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: GE, Alcoa, Marriott, Pepsi Bottling, Wal-Mart, Boeing and others

Marriott International F2Q08 earnings transcript


Marriott International, Inc. (NYSE:MAR)
F2Q08 Earnings Conference Call
July 10, 2008 10:00 AM ET

Management Summary

Operator

(Operator Instructions) Good day and welcome to this Marriott International second quarter 2008 earnings conference call. Today's call is being recorded. At this time for opening remarks and introductions, I would like to turn the call over to Executive Vice President, Chief Financial Officer, and President of the Continental European Lodging, Mr. Arne Sorenson. Please go ahead, sir.

Arne M. Sorenson, Chief Financial Officer, Executive Vice President, President - Continental European Lodging

Thank you, Kat. Good morning, everyone. Welcome to our second quarter 2008 earnings conference call. Joining me today are Laura Paugh, Senior Vice President, Investor Relations; Carl Berquist, Executive Vice President, Financial Information and Enterprise Risk Management; and Betsy Daum, Senior Director, Investor Relations.

Before I get into the discussion of our results, let me first remind everyone that many of our comments today are not historical facts and are considered forward-looking statements under federal securities laws. These statements are subject to numerous risks and uncertainties as described in our SEC filings which could cause future results to differ materially from those expressed in or implied by our comments.

Continue reading Marriott International F2Q08 earnings transcript

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Last updated: July 04, 2009: 11:59 AM

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