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CPLG

CorePoint Lodging

$9.99

0.035 (0.35%)

, WH

Wyndham Hotels & Resorts

$50.57

-0.03 (-0.06%)

17:33
10/23/19
10/23
17:33
10/23/19
17:33

CorePoint Lodging announces resolution to Wyndham Hotels dispute

CorePoint Lodging (CPLG) announced a resolution of the previously disclosed notice of default CorePoint provided under its management agreements to its sole property manager, LQ Managemen, a wholly owned affiliate of Wyndham Hotels & Resorts (WH), and other claims made by both parties under existing agreements. Highlights of the Settlement are: Reestablishment of certain revenue management software and tools, call center technologies and the administration of corporate and group bookings at least reasonably equivalent to the legacy systems, including: Implementation of an enhanced dynamic best available rate-setting tool, an enhanced direct billing system for corporate and group clients The deployment of certain legacy booking tools, a settlement payment to CorePoint of approximately $20M, A payment to CorePoint of approximately $17M of cash purchase price which had been temporarily retained in connection with previously disclosed tax matters agreement, Mutual agreement on franchise transfer approval criteria related to asset sales.

CPLG

CorePoint Lodging

$9.99

0.035 (0.35%)

WH

Wyndham Hotels & Resorts

$50.57

-0.03 (-0.06%)

  • 29

    Oct

  • 06

    Nov

  • 12

    Nov

  • 05

    Dec

CPLG CorePoint Lodging
$9.99

0.035 (0.35%)

07/09/19
JPMS
07/09/19
DOWNGRADE
Target $11
JPMS
Underweight
CorePoint Lodging downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Joseph Greff downgraded CorePoint Lodging to Underweight from Neutral and lowered his price target for the shares to $11 from $13. 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).
07/09/19
07/09/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. 3M (MMM) downgraded to Sector Perform from Outperform at RBC Capital with analyst Deane Dray expecting the overhang on the shares from macro pressures and litigation to persist. 2. Marriott (MAR) and Hilton (HLT) downgraded to Neutral from Overweight at JPMorgan, while Ryman Hospitality (RHP) and CorePoint Lodging (CPLG) were downgraded to Underweight from Neutral. 3. Alcoa (AA) downgraded to Neutral from Outperform at Macquarie. 4. First Business Financial (FBIZ) downgraded to Neutral from Buy at DA Davidson with analyst Kevin Reevey saying the rating change is driven purely by the recent 33% advance in the stock price from its 52-week lows to within 6% of its 52-week highs. 5. Myriad Genetics (MYGN) downgraded to Market Perform from Outperform at Cowen with analyst Doug Schenkel citing a combination of lower overall conviction in Myriad and a less attractive relative valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/16/19
STFL
08/16/19
NO CHANGE
Target $65
STFL
Buy
Wyndham Hotels selloff on CorePoint comments seems overdone, says Stifel
Stifel analyst Simon Yarmak noted that Wyndham Hotels & Resorts (WH) shares are down 8.8% since the disclosure Tuesday night from CorePoint Lodging (CPLG) that most of its 2019 RevPAR guidance reduction was due to the integration onto the Wyndham Hotels platform from standalone La Quinta. CorePoint claims the new revenue management systems, call center interface technology and administration of corporate and group bookings had a meaningful negative impact on the company's operations in the quarter and gave notice that it believes Wyndham is in breach of contract on the management side of the two companies' existing agreement, which Wyndham denies. Yarmak, who believes there were additional factors that likely contributed to CorePoint's weak performance in the quarter, sees the recent selloff in Wyndham Hotels as overdone and he keeps a Buy rating and $65 price target on the latter's shares.
WH Wyndham Hotels & Resorts
$50.57

-0.03 (-0.06%)

08/22/19
08/22/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Mobile Mini (MINI) initiated with a Buy at Stifel. 2. Wanda Sports (WSG) initiated with a Buy at Loop Capital. 3. Wyndham Hotels & Resorts (WH) initiated with an Outperform at Baird. 4. ACM Research (ACMR) initiated with a Buy at Stifel. 5. Trex Company (TREX) initiated with an Outperform at William Blair. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/19
JEFF
09/11/19
NO CHANGE
Target $72
JEFF
Buy
Wyndham valuation discount should continue to narrow, says Jefferies
Jefferies analyst David Katz says a meeting with management reinforced his belief that Wyndham Hotels & Resorts' valuation discount to peers should continue to narrow as its "execution and track record become more prominent." The analyst believes "several misconceptions" are weighing on shares, including that the default notice equates to immediate lost earnings and that its unit growth is limited. Katz is most constructive on Wyndham among the lodging companies as he believes the stock has the "clearest path for outperformance." He keeps a Buy rating on Wyndham Hotels & Resorts with a $72 price target.
09/19/19
GSCO
09/19/19
DOWNGRADE
Target $37
GSCO
Neutral
Hilton Grand Vacations downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Stephen Grambling downgraded Hilton Grand Vacations (HGV) to Neutral from Buy while raising his price target for the shares to $37 from $35. While leveraged buyout internal rate of returns could be attractive to $40 per share or higher, other names in the Lodging space offer better risk-adjusted returns, Grambling tells investors in a research note. The analyst's estimates remain below management's long-term earnings target and consensus in fiscal 2021 as he anticipates a slower sell-through of owned inventory. The delayed sell-through is likely to also postpone any free cash flow inflection and raise Hilton Grand Vacations' earnings risk in the near term in the event of any macro deterioration, contends Grambling. The analyst this morning also upgraded Hyatt Hotels (H) to Buy from Neutral and reiterated Buy ratings on Marriott (MAR), Hilton (HLT) and Wyndham Hotels & Resorts (WH). Marriott is on his firm's Conviction List.
10/17/19
JEFF
10/17/19
DOWNGRADE
Target $22
JEFF
Hold
Xenia Hotels downgraded to Hold on valuation at Jefferies
Jefferies analyst David Katz downgraded Xenia Hotels & Resorts (XHR) to Hold from Buy with a price target of $22, down from $26. The analyst cites valuation for the downgrade following the stock's recent outperformance year-to-date on the positive transformation of its portfolio. In addition, the analyst expects mid-range valuations to compress in the Lodging space. Absent of improved visibility or growth, Katrz has "limited enthusiasm for Lodging stocks." He prefers Wyndham Hotels & Resorts (WH) and Park Hotels & Resorts (PK) for their growth opportunities and earnings potential relative to their valuations. Katz also cut his price targets for names across the Lodging sector.

TODAY'S FREE FLY STORIES

CVET

Covetrus

$14.93

1.44 (10.67%)

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CMCSK

Comcast

$0.00

(0.00%)

, CMCSA

Comcast

$44.54

-0.93 (-2.05%)

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CMCSK

Comcast

$0.00

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CMCSA

Comcast

$44.54

-0.93 (-2.05%)

VIAB

Viacom

$23.07

0.59 (2.62%)

VIA

Viacom

$26.59

1.28 (5.06%)

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  • 09

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CWK

Cushman & Wakefield

$19.10

0.1 (0.53%)

17:48
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Hot Stocks
Cushman & Wakefield CEO sells 84.6K share of common stock »

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  • 12

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LMT

Lockheed Martin

$393.52

3.305 (0.85%)

17:39
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ESCA

Escalade

$10.90

-0.09 (-0.82%)

17:38
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CZR

Caesars

$12.96

0.1 (0.78%)

, ERI

Eldorado Resorts

$52.10

0.93 (1.82%)

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CZR

Caesars

$12.96

0.1 (0.78%)

ERI

Eldorado Resorts

$52.10

0.93 (1.82%)

03/08/13
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  • 15

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EGRX

Eagle Pharmaceuticals

$57.24

0.55 (0.97%)

17:15
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Breaking Syndicate news story on Eagle Pharmaceuticals »

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FN

Fabrinet

$60.82

0.84 (1.40%)

17:11
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Fabrinet President Gill sells 12.9K shares of common stock »

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  • 12

    Dec

TEUM

Pareteum

$0.38

-0.0209 (-5.21%)

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Pareteum receives noncompliance notice from Nasdaq »

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HEXO

Hexo

$1.78

-0.1 (-5.32%)

17:00
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Hexo was cannabis was being grown in unlicensed space at Niagara site »

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AMGN

Amgen

$220.84

2.29 (1.05%)

, CELG

Celgene

$110.02

-0.01 (-0.01%)

16:57
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Bristol-Myers gets FTC clearance for Celgene acquisition »

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AMGN

Amgen

$220.84

2.29 (1.05%)

CELG

Celgene

$110.02

-0.01 (-0.01%)

BMY

Bristol-Myers

$58.61

0.11 (0.19%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 18

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    Apr

RAVE

Rave Restaurant

$1.44

-0.79 (-35.43%)

16:47
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11/15
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Hot Stocks
BBRC Asset Management reports 6.6% passive stake in Rave Restaurant »

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CHAP

Chaparral Energy

$0.89

-0.0521 (-5.52%)

16:46
11/15/19
11/15
16:46
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16:46
Hot Stocks
Chaparral Energy receives continued listing standard notice from NYSE »

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16:45
11/15/19
11/15
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16:45
General news
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CI

Cigna

$196.08

6.41 (3.38%)

, CNC

Centene

$57.57

2.91 (5.32%)

16:41
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On The Fly
Fly Intel: Wall Street's top stories for Friday »

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CI

Cigna

$196.08

6.41 (3.38%)

CNC

Centene

$57.57

2.91 (5.32%)

CVS

CVS Health

$74.27

1.34 (1.84%)

HUM

Humana

$335.43

17.48 (5.50%)

UNH

UnitedHealth

$269.44

13.68 (5.35%)

WCG

WellCare

$312.01

10.155 (3.36%)

HNT

Health Net

$0.00

(0.00%)

MOH

Molina Healthcare

$129.60

7.3 (5.97%)

ANTM

Anthem

$298.18

16.14 (5.72%)

HCA

HCA Healthcare

$137.98

3.51 (2.61%)

CYH

Community Health

$3.12

0.25 (8.71%)

LPNT

LifePoint

$0.00

(0.00%)

UHS

Universal Health

$144.30

3.13 (2.22%)

NVDA

Nvidia

$204.12

-5.76 (-2.74%)

AMZN

Amazon.com

$1,739.33

-15.38 (-0.88%)

MSFT

Microsoft

$149.95

1.89 (1.28%)

UAA

Under Armour

$17.78

0.65 (3.79%)

UA

Under Armour

$15.97

0.41 (2.64%)

AMRN

Amarin

$23.99

2.5 (11.63%)

JNJ

Johnson & Johnson

$134.97

3.99 (3.05%)

GOOG

Alphabet

$1,334.01

21.82 (1.66%)

GOOGL

Alphabet Class A

$1,333.33

23.54 (1.80%)

ORCL

Oracle

$56.43

0.33 (0.59%)

RH

RH

$188.73

13.535 (7.73%)

QGEN

Qiagen

$40.56

3.255 (8.73%)

FTCH

Farfetch

$9.66

2.17 (28.97%)

THC

Tenet

$30.55

1.08 (3.66%)

TORC

resTORbio

$1.10

-6.83 (-86.13%)

ACB

Aurora Cannabis

$2.72

-0.57 (-17.33%)

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  • 15

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  • 04

    Dec

  • 07

    Dec

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  • 09

    Dec

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    Jan

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    Jan

  • 06

    Feb

NYT

New York Times

$31.60

0.44 (1.41%)

16:41
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11/15
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Hot Stocks
New York Times CEO sells 66,000 class A common shares »

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  • 09

    Dec

WEX

Wex

$200.52

4.61 (2.35%)

16:41
11/15/19
11/15
16:41
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16:41
Hot Stocks
Wex director Morris sells 3K shares of common stock »

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CBLI

Cleveland BioLabs

$0.59

-0.0444 (-6.97%)

16:39
11/15/19
11/15
16:39
11/15/19
16:39
Hot Stocks
Cleveland BioLabs CEO resigns effective December 13th »

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LOGC

LogicBio Therapeutics

$9.29

-0.04 (-0.43%)

16:38
11/15/19
11/15
16:38
11/15/19
16:38
Syndicate
Breaking Syndicate news story on LogicBio Therapeutics »

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HTBI

HomeTrust

$25.99

-0.31 (-1.18%)

16:38
11/15/19
11/15
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16:38
Hot Stocks
HomeTrust raises quarterly dividend 17% to 7c per share »

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  • 18

    Nov

FR

First Industrial Realty

$42.05

-0.03 (-0.07%)

16:36
11/15/19
11/15
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16:36
Hot Stocks
First Industrial Realty director sells 12K shares of common stock »

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UBSI

United Bankshares

$39.51

-0.19 (-0.48%)

16:31
11/15/19
11/15
16:31
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16:31
Hot Stocks
United Bankshares declares Q4 dividend of 35c per share »

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16:30
11/15/19
11/15
16:30
11/15/19
16:30
Options
Preliminary option volume of 24.0M today »

Preliminary option volume…

16:25
11/15/19
11/15
16:25
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16:25
Conference/Events
Federal Reserve Bank of San Francisco participates in a discussion »

San Francisco Federal…

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