Marriott Marches to a 52-Week High
The list of NYSE stocks reaching new 52-week highs today includes two lodging names. Both Wyndham Worldwide (WYN) and Marriott International (MAR) are trading at fresh rally highs at mid-afternoon.
The earnings news from Marriott has provided the spark, pushing shares more than 4% higher on relatively heavy trade. Last night's first-quarter report showed a 3% rise in earnings on better-than-expected revenue per available room. Management added fuel to the fire by raising its full-year earnings estimate. The positive news sparked a powerful gap-higher open that lifted the stock up to its 2012 peak. Despite the market's choppy action, MAR moved sharply higher off the bell and is now stabilizing well above its March highs. With a month-long consolidation in the rearview mirror, the stock is set up well for more upside....328 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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