Stocks that traded heavily or had substantial price changes Friday:
SmileDirectClub Inc., down 51 cents to $10.09.
The Nashville-based maker of teeth aligners expects to make less profit this quarter versus the fourth quarter of last year.
NXP Semiconductors NV, up $13.62 to $180.90.
The Dutch semiconductor company raised its dividend 50% and announced a stock repurchase program.
CoStar Group Inc., up $40.23 to $798.69.
The real estate data provider withdrew its bid to buy CoreLogic, citing a recent increase in interest rates that could impact mortgage refinancing.
Costco Wholesale Corp., down $1.72 to $317.32.
The retailer's earnings missed forecasts as the company paid out higher wage premiums to employees during the pandemic.
Norwegian Cruise Line Holdings Ltd., down $4.05 to $28.85.
The cruise line operator announced a stock offering of more than 47 million shares.
Virgin Galactic Holdings Inc., down $3.01 to $27.29.
Company chairman Chamath Palihapitiya sold his remaining personal stake of 6.2 million shares in the company this week.
Exxon Mobil Corp., up $2.22 to $60.93.
Energy companies benefited from another increase in the price of crude oil.
Gap Inc., up $1.93 to $27.31.
The clothing chain reported far better earnings than Wall Street analysts were expecting.
Featured Article: Price Target
7 Hotel Stocks Just Waiting For the VaccineLike any group of stocks related to travel and tourism, hotel stocks saw a steep drop in share prices in 2020. The leisure and hospitality sector that once had 15 million employees has lost 4 million jobs since February.
Many major cities will be feeling the ripple effects of the Covid-19 pandemic for years. However, there is ample evidence that shows the pandemic may be coming to an end. The number of new cases is dropping. The number of those getting vaccinated is rising. And even in the cities with the most restrictive mitigation measures, the slow process of reopening is beginning.
All of this can’t come fast enough for individuals who rely on the travel and tourism industry for their livelihood. Hotel chains had at least some revenue coming in the door. And when earnings season concludes, the more budget-friendly hotel chains may realize revenue that is 75% of its 2019 numbers. But that is not enough to bring the hotels to anywhere near full employment. Particularly with hotels that have bars and restaurants that have remained closed or open at limited capacity.
Many economists are optimistic that travel may begin to look more normal by the summer of this year. And the global economy may deliver 6.4% GDP growth this year. With that in mind, the hotel chains with the best fundamentals and the broadest footprint will be in the best position as the economy reopens.
View the "7 Hotel Stocks Just Waiting For the Vaccine".
Companies Mentioned in This Article
Compare These Stocks Add These Stocks to My Watchlist
