Marriott’s Earnings Were Good but the Reactions Were Bad
Photo Credit: A brochure rack in a Marriott lobby. Skift
Skift Take
The stock market being as ugly as NJ and NY weather this morning probably had a lot more to do with Marriott’s outsized decline than the actual earnings report.
The Down Jones Industrial Average was down 525 points and that was a big improvement over the worst of it today. Nasdaq ended the day down 287, the S&P 500 was down 69 and the 10-year treasury yield was up .14 to 4.32%. That is an over 3% rise in the yield, all on the CPI report. Lodging stocks took it hard. MAR was the biggest point decliner, down nearly -14 points which is -6%. SLNA and SHCO were the biggest percentage losers, down -10% and -8% respectively. SVC, BHR, VAC and AHT were each down -6% on the day.
The reaction to Marriott’s earnings report probably had a lot more to do with the overall market today than the actual report. Both Hilton and MAR had stock prices that were primed to perfection and the slow drop after the earnings report for HLT was done by MAR in one day today. MAR beat for 4Q, something that the stock price was clearly showing was going to hap
