Marriott and Hilton Increase Share Buyback Authorizations

• Lodging stocks were higher again with MCG up 11%, HT up 8%, ABNB up 7%, SLNA up 6% and SVC up another 5%.
• Both Marriott International and Hilton announced an increase in their share buyback authorizations.
• Hilton announced its board of directors authorized the repurchase of an additional $2.5 billion of common stock under its existing stock repurchase program.

The DJIA rose 32 points on Friday while Nasdaq was up another 209, the S&P 500rose 37 points and the 10-year treasury yield was down another .02 to 3.81%. Lodging stocks were higher again with MCG up 11%, HT up 8%, ABNB up 7%, SLNA up 6% and SVC up another 5%. SOND fell -9% on the day. Both Marriott International and Hilton announced an increase […]