Business

Marriott, Twitter, Peloton: Stocks that define the week


Marriott International Inc.

MARCH -2.89%

Everyone is ready to travel like 2019. Marriott’s sales in the first quarter increased by 81% as the hotel giant says it has seen the biggest increase in global travel demand since the outbreak of the pandemic, and

Airbnb Of Inc.

total bookings in the latest quarter up 67% to $17.2 billion—A record for the home-sharing company. Similar positive tracking results from airlines. Shares of Marriott rose 4.7% on Wednesday.

Spirit Airlines Inc.

ASSIST -4.59%

Spirit would rather go with Frontier

JetBlue.

Carrier decline an offer to buy back from JetBlue Airways Corp. backs the current plan to merge with a rival low-cost airline

Frontier Group Holdings Inc.

JetBlue’s offer for Spirit came with a premium over the cash offer, and Frontier’s stock was initially valued at $2.9 billion. But Spirit’s board said it believed there was too much of a risk that regulators would block a merger with JetBlue. However, JetBlue said on Monday that it is not giving up and making the details of its latest offer public in an effort to win over Spirit shareholders. Spirit stock fell 9.4% Monday.

Chegg Inc.

CHGG -4.41%

Chegg is learning a hard lesson. According to CEO Daniel Rosensweig, inflation and higher wages cause more students to leave the education company. about a million people have dropped or delayed enrollment in higher education over the past two years. Chegg, which sells learning materials and operates learning platforms for high school and college students, has thrived during the pandemic as homeschooling booms and disposable incomes rise due to programs. government stimulus. The company reported quarterly revenue that fell short of expectations and cut its outlook for the year. Chegg stock fell 30% on Tuesday.

Starbucks Corp.

SBUX -1.24%

Starbucks wants to bring more benefits to its bartenders. Tuesday’s coffee chain said Profits and sales increased in the most recent quarter, and CEO Howard Schultz outlined the expanded salary and benefits the company aims to extend to workers. The move comes as a fight between the company and new employees is escalated by the union. Starbucks said it will invest about $200 million in stores and employees, including an app for better workplace communication, higher hourly wages, coffee shop equipment repairs and increased sales. intense training. But Mr. Schultz said the chain’s growing number of allied cafes will need to negotiate their own arrangements. Shares of Starbucks rose 9.8% on Wednesday.

Twitter Inc.

TWTR -1.11%

The richest man in the world is getting help from his friends.

Elon Musk

yes gather a group of investors including a Saudi prince,

Oracle Corp.

co-founder Larry Ellison and bitcoin exchange to raise more than 7 billion dollars to support its $44 billion deal for Twitter. The biggest contribution came from Prince al-Waleed bin Talal of Saudi Arabia, who agreed to retain a stake in the $1.9 billion social media platform after Musk took over. The

Tesla Inc.

The CEO has told potential investors on Twitter that he could bring the company back to the public market after a few years of ownership. Twitter shares rose 2.7% Thursday.

Kellogg Co.

KY 3.56%

More price increases could hurt Kellogg’s sales. The producer of Frosted Flakes and Eggos on Thursday posted a First quarter earnings up 15% thanks to higher prices launched and grew sales steadily for its snack brands. So far, US shoppers have mostly endured higher prices from food manufacturers, but Kellogg and other industry giants say that could change later this year. The company is expected to grow further amid cost pressures exacerbated by supply chain disruptions and the war in Ukraine, and CEO Steve Cahillane says price sensitivity is now beginning to kick in. demonstrated through frozen meals and cereals. Kellogg stock added 3.5% on Thursday.

Peloton Interactive Inc.

PTON -7.70%

Peloton is preparing to sell a sizable minority stake. The once-popular bicycle manufacturer is looking for a buyer in an effort to strengthen its business The Wall Street Journal reported on Thursday as its shares continued to fall. The fitness company is targeting potential investors including industry players and private equity firms that could hold about 15% to 20% of the shares. Peloton also has withdrawing interest in recent months from potential suitors like

Amazon.com Inc.

explored buying the entire company when an activist investor urged them to consider a sale. Peloton stock lost 7.7% on Friday.

Write letter for Francesca Fontana at [email protected]

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