Fly News Breaks for January 7, 2020
Jan 7, 2020 | 08:16 EDT
Raymond James analyst William Crow downgraded Marriott to Market Perform from Outperform. Following a strong performance in 2019, Crow tells investors in a research note that Marriott shares are trading at the upper bounds of the 5 and 10-year historical ranges despite what appears to be a more challenging fundamental landscape. With Q4 earnings season looming, Crow also reminds investors that Marriott shares have not reacted particularly well to quarterly earnings reports in the past couple of years and adds that Marriott's larger-than-peer exposure to China makes it vulnerable to that country's slowing growth, while recent performance within its sizable stable of select-service brands suggests that new supply is taking a toll on older assets.
News For MAR From the Last 2 Days
Feb 18, 2020 | 08:31 EST
Marriott International announced the appointment of Jim Scholefield as Chief Information and Digital Officer, or CIDO, effective February 24. In this role, Scholefield will be responsible for leading all aspects of the company's information technology and digital strategies. Scholefield will report to Stephanie Linnartz, Group President, Consumer Operations, Technology & Emerging Businesses. Most recently, Scholefield was Chief Information and Digital Officer at Merck & Co., one of the world's largest pharmaceutical companies. He led Merck's information technology and digital strategy to drive efficiencies, strengthen the security of the infrastructure and support the company's growth. Prior to Merck, Scholefield was Chief Information Officer at Nike, where he led digital transformation and enterprise IT capability improvements for critical infrastructure and state-of-the-art cybersecurity. He also spent five years as Chief Technology Officer at The Coca-Cola Company, leading the company's transformation to cloud technology, and held leadership roles at The Northern Trust Company and Ford Motor Company.