week

Travel + Leisure Co. (NYSE:TNL) Released Earnings Last Week And Analysts Lifted Their Price Target To US$66.31

Investors in Travel + Leisure Co. (NYSE:TNL) had a good week, as its shares rose 9.4% to close at US$60.43 following the release of its full-year results. It was a pretty bad result overall; while revenues were in line with expectations at US$2.2b, statutory losses exploded to US$2.97 per share. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there’s been a strong change in the company’s prospects, or if it’s business as usual. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

See our latest analysis for Travel + Leisure

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Following the latest results, Travel + Leisure’s eight analysts are now forecasting revenues of US$2.97b in 2021. This would be a sizeable 38% improvement in sales compared to the last 12 months. Earnings are expected to

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Quarantine-Free Travel To Begin Next Week From Cook Islands To New Zealand

New Zealand Prime Minister Jacinda Ardern and Cook Island Prime Minister Mark Brown recently announced a travel bubble between the two countries, with flights launching January 21, 2021. There is a catch though: it’s only going to be quarantine-free one-way from Rarotonga to Auckland for the time being, while those traveling in the other direction will still be required to quarantine for 14 days upon arrival.

“Following confirmation of the Cook Islands’ Covid free status and the implementation of strict health and border protocols, we are now in the position to resume quarantine-free travel for passengers from the Cook Islands into New Zealand,” Arden said in a press statement. “Both countries continue to take a very careful approach to managing our borders and preventing the spread of Covid remains our paramount concern. As such,

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Travel, Retail Stocks Had Nice Start To Week, Highlighted By Foot Locker, Royal Caribbean

Over just six months, the S&P 500 Index (SPX) has gone from record highs to three-year lows back to the doorstep of new record highs this morning. 

As this relentless rally rolls on, it’s important to keep in mind that a number is just a number. Still, it’s hard to ignore the symbolism if the SPX moves above that old February intraday level of 3393. Six months may seem like a long time, but it took nearly a decade for stocks to revisit their 2007 highs after the financial crisis. Things seem to be going in fast motion as the SPX is up seven sessions in a row. 

This morning, people are bidding up stocks ahead of the bell in hopes that a Russian vaccine approval could be the first step toward ending the crisis. It’s positive news, but might get viewed with the old “fish eye.” We’ll believe it

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American booking full flights next week; Big Lots still busy

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the national and global response, the work place and the spread of the virus.

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RETAIL ROUNDUP:

— Big Lots is seeing the continuation of strong demand that started in mid-April, with second quarter-to-date comparable sales through fiscal June increasing well ahead of expectations.

The discount retailer now anticipates second-quarter comparable sales will be up by a mid-to-high twenties percentage. Big Lots said Friday that it is in a very strong liquidity position, with current cash and short-term investments of approximately $890 million, and no amounts drawn on its $700 million revolving credit facility.

— Shopping mall owner Intu Properties is scrambling to avoid bankruptcy after failing to strike a deal with its creditors. The London-based company is being hammered by lower rent payments from retail clients during

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