Wednesday, July 19, 2023
North America

Choice and Wyndham Maintain Baird’s Outperform Ratings

  • DJIA and S&P 500 rose, Nasdaq was up, and the 10-year treasury yield decreased.
  • Airbnb Co-founder Joe Gebbia sold over $1 billion worth of stock, while ABNB reached a 52-week high.
  • U.S. hotel RevPAR increased, new hotel constructions and acquisitions were announced, and a hotel opening was delayed in Portland.

The DJIA rose 109 points while Nasdaq was up 4, the S&P 500 rose 11 points and the 10-year treasury yield was down another .05 to 3.74%. Lodging stocks were modestly lower on the day. The biggest percentage mover was VCSA, down -7% while ABNB rose to another 52 week high. Baird gave a 2Q earnings preview, maintaining their Outperform ratings on Choice Hotels […]