Market Ignores Hilton’s Stellar Quarter

• Hilton kicked off earnings season with solid results. You could not get much better than Hilton’s with a solid beat.
• Travel + Leisure beat expectations, bought back $102 million worth of stock and gave out more in dividends than expected. The stock went down.
• Sonder has become the first of the SPACs that are either penny stocks or close to it, to receive a deficiency notice from their trading exchange.

The DJIA was down 229 points but Nasdaq was up 55, the S&P 500 was down 16 points and the 10-year treasury yield was up .04 to 3.43%. Lodging stocks were lower. SOND and VCSA traded down to new all time lows with SOND down -7%. AHT and SHCO were both down -5%. The C-Corps took it on the chin today despite positive […]