Diamonds and Dogs
Airlines are flying higher. Delta (DAL) reported better than expected earnings, but it was American Airlines (AAL) stealing the show up 5%. No news, but American does report earnings next week. The sector is one of the cheapest around as slowly improving fundamentals have garnered more interest from investors.
No vacation at Marriot Vacations (VAC). The hotel provider dropped 8% after missing quarterly earnings by 18 cents as revenue missed as well. Total company vacation ownership contract sales (which exclude residential sales) were $169.8 million, up 6% ahead of the prior year period. Contract sales in their key North America and Asia Pacific segments were $12.5 million 8%, ahead of the prior year period. Going forward, the company issued in-line guidance for the rest of the year and remains confident in their growth strategy and the solid foundation they are building for continued sales growth into 2017.
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