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MAR

Marriott

$141.35

-0.64 (-0.45%)

, STWD

Starwood Property

$22.96

0.04 (0.17%)

08:48
07/09/19
07/09
08:48
07/09/19
08:48

Marriott: UK ICO to issue fine of GBP99.2M in relation to Starwood incident

Marriott International (MAR) announced that the UK Information Commissioner's Office has communicated its intent to issue a fine in the amount of GBP 99,200,396 against the company in relation to the Starwood (STWD) guest reservation database incident that Marriott announced on November 30, 2018. Marriott has the right to respond before any final determination is made and a fine can be issued by the ICO. The company intends to respond and vigorously defend its position. Marriott International's President and CEO, Arne Sorenson, said: "We are disappointed with this notice of intent from the ICO, which we will contest. Marriott has been cooperating with the ICO throughout its investigation into the incident, which involved a criminal attack against the Starwood guest reservation database. "We deeply regret this incident happened. We take the privacy and security of guest information very seriously and continue to work hard to meet the standard of excellence that our guests expect from Marriott." The Starwood guest reservation database that was attacked is no longer used for business operations.

MAR

Marriott

$141.35

-0.64 (-0.45%)

STWD

Starwood Property

$22.96

0.04 (0.17%)

MAR Marriott
$141.35

-0.64 (-0.45%)

04/24/19
04/24/19
DOWNGRADE

In Line
Marriott downgraded to In Line on valuation at Evercore ISI
As previously reported, Evercore ISI analyst Rich Hightower downgraded Marriott to In Line from Outperform primarily on valuation. Approaching Q1 earnings season, the analyst finds himself "incrementally negative" on hotel stocks overall - and even more so with respect to the C-Corps than the REITs - given the sector's substantial recent outperformance against the relevant benchmarks, coupled with no obvious shift in fundamentals over the last 60-90 days.
04/24/19
04/24/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Harley-Davidson (HOG) downgraded to Sell from Neutral at Goldman Sachs with analyst David Tamberrino saying he views Harley as the "worst positioned" within his Powersports coverage given its concentration in a "secularly declining" motorcycle market. 2. TowerJazz (TSEM) downgraded to Neutral from Outperform at Credit Suisse with analyst Quang Tung Le saying to reflect ongoing weakness at the company's "key" radio frequency and power customers along with revised three- year deal extension with Panasonic, the analyst reduced his sales estimates. 3. Marriott (MAR) downgraded to In Line from Outperform at Evercore ISI with analyst Rich Hightower saying approaching Q1 earnings season, the analyst finds himself "incrementally negative" on hotel stocks overall - and even more so with respect to the C-Corps than the REITs - given the sector's substantial recent outperformance against the relevant benchmarks, coupled with no obvious shift in fundamentals over the last 60-90 days. 4. Kraft Heinz (KHC) downgraded to Underweight from Neutral at Piper Jaffray with analyst Michael Lavery saying expectations for the company's 2020 earnings are likely too high as it plans divestitures of underperforming businesses, which could be 20c-30c dilutive on a per share basis. 5. Hyatt (H) and Hilton (HLT) downgraded to Market Perform from Outperform at Wells Fargo. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/09/19
JPMS
07/09/19
DOWNGRADE
Target $138
JPMS
Neutral
Marriott downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Joseph Greff downgraded Marriott International to Neutral from Overweight with an unchanged price target of $138. The analyst is "increasingly cautious" on valuations in the Lodging space as well as the length of the current cycle.
07/09/19
JPMS
07/09/19
DOWNGRADE
JPMS
JPMorgan 'increasingly cautious' on Lodging, downgrades four names
JPMorgan analyst Joseph Greff is "increasingly cautious" on valuations in the Lodging space. Recent share performance, "peak" valuations, an extended cycle and decelerating industry trends all point to "diminished upside" from current share levels, Greff tells investors in a research note. On "more even" risk/reward profiles, the analyst downgraded both Marriott (MAR) and Hilton (HLT) to Neutral from Overweight. Greff also downgraded both Ryman Hospitality (RHP) and CorePoint Lodging (CPLG) to Underweight from Neutral as he sees more risk to the downside. The analyst's only remaining Overweight-rated names are Wyndham Hotels & Resorts (WH) and Extended Stay America (STAY).
STWD Starwood Property
$22.96

0.04 (0.17%)

09/21/18
JPMS
09/21/18
INITIATION
Target $23
JPMS
Overweight
Starwood Property initiated with an Overweight at JPMorgan
JPMorgan analyst Richard Shane started Starwood Property Trustwith an Overweight rating and $23 price target. The analyst sees the company benefiting from its "superior funding costs" and resources from Starwood Capital Group.
02/25/19
BTIG
02/25/19
INITIATION
Target $25
BTIG
Buy
Starwood Property initiated with a Buy at BTIG
BTIG analyst Benjamin Zucker started Starwood Property with a Buy rating and $25 price target, calling it the "most diversified company in our commercial MREIT peer group" and the "largest and most liquid CMREIT by a wide margin." He notes that the stock does not appear to reflect a valuation premium, though he believes it deserves one.
02/25/19
BTIG
02/25/19
INITIATION
Target $25
BTIG
Buy
Starwood Property initiated with a Buy at BTIG
BTIG analyst Benjamin Zucker initiated Starwood Property with a Buy rating and a price target of $25, saying the company is "the most diversified" among the names in his mortgage REIT coverage and operates under the globally-recognized banner but its valuation does not reflect its benefits. The analyst contends that the premium is warranted for Starwood Property because of its "flexible capital allocation strategy", adding that property sales and a potential investment grade rating could serve as catalysts for the stock.
02/26/19
02/26/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Acceleron (XLRN) initiated with an Outperform at Cowen. 2. Target (TGT) assumed with a Neutral at Citi. 3. Capri Holdings (CPRI) reinstated with an Overweight. 4. Starwood Property (STWD) initiated with a Buy at BTIG. 5. Essential Properties Realty Trust (EPRT) initiated with a Market Perform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

DGX

Quest Diagnostics

$101.46

0.32 (0.32%)

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  • 23

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TLRY

Tilray

$44.35

0.15 (0.34%)

06:45
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General news
Breaking General news story  »

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ACB

Aurora Cannabis

$7.16

0.16 (2.29%)

06:44
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Aurora Cannabis initiated  »

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  • 19

    Sep

PNC

PNC Financial

$138.66

-1.52 (-1.08%)

06:43
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Earnings
PNC Financial reports Q2 EPS $2.88, consensus $2.82 »

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OMC

Omnicom

$84.08

0.065 (0.08%)

06:43
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Earnings
Omnicom reports Q2 EPS $1.68, consensus $1.61 »

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  • 17

    Jul

CGC

Canopy Growth

$35.56

0.405 (1.15%)

06:42
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Initiation
Canopy Growth initiated  »

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  • 18

    Jul

FULT

Fulton Financial

$16.31

0.11 (0.68%)

06:37
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Hot Stocks
Fulton Financial sees NIM up 2-5bps per quarter in 2019 »

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  • 17

    Jul

  • 06

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  • 07

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  • 03

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TXT

Textron

$54.02

0.59 (1.10%)

06:36
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Hot Stocks
Breaking Hot Stocks news story on Textron »

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  • 17

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  • 06

    Aug

AL

Air Lease

$42.15

0.77 (1.86%)

06:35
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Air Lease announces long-term lease placement of two Airbus aircraft in VIetnam »

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  • 08

    Aug

  • 13

    Nov

BK

BNY Mellon

$43.13

-0.02 (-0.05%)

06:35
07/17/19
07/17
06:35
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Earnings
BNY Mellon reports Q2 EPS $1.01, consensus 95c »

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  • 17

    Jul

  • 06

    Aug

TXT

Textron

$54.02

0.59 (1.10%)

06:34
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06:34
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06:34
Hot Stocks
Textron CEO says 'we continued to have solid margin performance' »

"Operationally, we…

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  • 17

    Jul

  • 06

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TXT

Textron

$54.02

0.59 (1.10%)

06:32
07/17/19
07/17
06:32
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06:32
Earnings
Textron raises FY19 EPS view to $3.65-$3.85 from $3.55-$3.75, consensus $3.70 »

Textron reiterated its…

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  • 17

    Jul

  • 06

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MRVL

Marvell

$25.73

-0.26 (-1.00%)

06:32
07/17/19
07/17
06:32
07/17/19
06:32
Recommendations
Marvell analyst commentary  »

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ERIC

Ericsson

$9.61

-0.02 (-0.21%)

06:32
07/17/19
07/17
06:32
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06:32
Hot Stocks
Ericsson says in ongoing settlement negoiations with SEC, DOJ »

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  • 17

    Jul

  • 25

    Sep

ERIC

Ericsson

$9.61

-0.02 (-0.21%)

06:31
07/17/19
07/17
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06:31
Earnings
Ericsson reports Q2 non-IFRS EPS SEK59 vs. (SEK9) last year »

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  • 17

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TXT

Textron

$54.02

0.59 (1.10%)

06:30
07/17/19
07/17
06:30
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Earnings
Textron reports Q2 EPS 93c, consensus 86c »

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  • 17

    Jul

  • 06

    Aug

SHO

Sunstone Hotel

$13.54

-0.01 (-0.07%)

06:28
07/17/19
07/17
06:28
07/17/19
06:28
Downgrade
Sunstone Hotel rating change  »

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  • 02

    Aug

COP

ConocoPhillips

06:27
07/17/19
07/17
06:27
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06:27
Upgrade
ConocoPhillips rating change  »

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  • 30

    Jul

PEB

Pebblebrook Hotel

$27.37

-0.195 (-0.71%)

, HLT

Hilton

$99.87

0.68 (0.69%)

06:27
07/17/19
07/17
06:27
07/17/19
06:27
Downgrade
Pebblebrook Hotel, Hilton, Marriott, Wyndham Hotels & Resorts rating change at BofA/Merrill »

Pebblebrook Hotel…

PEB

Pebblebrook Hotel

$27.37

-0.195 (-0.71%)

HLT

Hilton

$99.87

0.68 (0.69%)

MAR

Marriott

$143.94

1.17 (0.82%)

WH

Wyndham Hotels & Resorts

$61.20

0.5 (0.82%)

03/08/13
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  • 24

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    Sep

EXLS

ExlService

$65.12

-0.45 (-0.69%)

06:23
07/17/19
07/17
06:23
07/17/19
06:23
Downgrade
ExlService rating change  »

ExlService downgraded to…

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  • 30

    Jul

  • 12

    Aug

GLOB

Globant

$106.97

-0.64 (-0.59%)

06:21
07/17/19
07/17
06:21
07/17/19
06:21
Downgrade
Globant rating change  »

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  • 02

    Aug

MUX

McEwen Mining

$1.72

-0.02 (-1.15%)

06:21
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Hot Stocks
McEwen Mining reports Q2 production 45,881 gold equivalent oz. »

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AMZN

Amazon.com

$2,010.00

-11 (-0.54%)

06:20
07/17/19
07/17
06:20
07/17/19
06:20
Periodicals
Amazon exec Dave Clark defends company in CNN op-ed »

Dave Clark, Amazon's…

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  • 17

    Jul

  • 25

    Jul

WORK

Slack Technologies

$34.43

-0.35 (-1.01%)

, MSFT

Microsoft

$137.08

-1.86 (-1.34%)

06:19
07/17/19
07/17
06:19
07/17/19
06:19
Initiation
Slack Technologies, Microsoft, Alphabet, Alphabet Class A initiated  »

Slack Technologies…

WORK

Slack Technologies

$34.43

-0.35 (-1.01%)

MSFT

Microsoft

$137.08

-1.86 (-1.34%)

GOOG

Alphabet

$1,152.97

2.58 (0.22%)

GOOGL

Alphabet Class A

$1,152.86

2.4 (0.21%)

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  • 17

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