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https://www.barrons.com/articles/stock-market-movers-tesla-alibaba-gm-lucid-51674835133
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Royal Philips NV on Monday said it will cut an extra 6,000 jobs by 2025, including around 3,000 this year, as part of a plan to improve performance and drive value creation.
The Dutch health-technology company
PHIA,
PHG,
–which said in October that it was cutting 4,000 jobs, or about 5% of its 80,000-strong workforce–said Monday that the simplified operating model will make it more agile and competitive, while reducing costs. The job cuts announced Monday are in addition to those outlined in October.
Philips said that it will now focus on extracting the full value of its portfolio through a strategy of focused organic growth.
The company made the disclosure as it reported a swing to net loss for the fourth quarter of last year amid higher costs, but said that it has seen some improvement in the period and that is taking actions to address operational challenges in an uncertain environment.
The Dutch health-technology company–which sells products including MRI scanners and ultrasound machines–posted a net loss attributable to shareholders of 106 million euros ($170.6 million) compared with a profit of EUR157 million for the fourth quarter of 2021 and a company-compiled consensus loss of EUR16 million.
Adjusted earnings before interest, taxes and amortization–which strips out exceptional and other one-off items–was EUR651 million compared with EUR647 million and a consensus of EUR428 million.
The company said its performance was hit by cost inflation that was partly offset by pricing and productivity measures.
Group sales in the period were EUR5.42 billion compared with EUR4.94 billion and a consensus of EUR5.03 billion.
Like-for-like sales were up 3%, compared with a company-compiled forecast for a fall of 5.2%, due to improved component supplies
Royal Philips said it now expects low-single-digit comparable sales growth and high-single-digit adjusted Ebita margin for this year.
It has also targeted mid-single-digit comparable sales growth and a low-teens adjusted Ebita margin by 2025, and for mid-single-digit comparable sales growth and mid-to-high-teens adjusted Ebita margin beyond 2025.
“Considering the slowing of consumer demand and a gradual improvement of the order book conversion during 2023, Philips anticipates a slow start to the year, with improvements throughout the year supported by the ongoing productivity, pricing and other actions,” it said.
Write to Ian Walker at ian.walker@wsj.com
The company said its performance was hit by cost inflation that was partly offset by pricing and productivity measures.
Group sales in the period were EUR5.42 billion compared with EUR4.94 billion and a consensus of EUR5.03 billion.
Like-for-like sales were up 3%, compared with a company-compiled forecast for a fall of 5.2%, due to improved component supplies
Royal Philips said it now expects low-single-digit comparable sales growth and high-single-digit adjusted Ebita margin for this year.
“Considering the slowing of consumer demand and a gradual improvement of the order book conversion during 2023, Philips anticipates a slow start to the year, with improvements throughout the year supported by the ongoing productivity, pricing and other actions,” it said.
Write to Ian Walker at ian.walker@wsj.com
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The Kansas City Chiefs were still celebrating on the field Sunday night when oddsmakers moved them from slight favorites to win the Super Bowl over the Philadelphia Eagles to slight underdogs.
After the Chiefs opened as a 1.5-point favorite by BetMGM
MGM,
the betting line quickly shifted, favoring the Eagles by 2.5 points, with the over/under at 49.5 points. FanDuel sports book odds also swung from the Chiefs to the Eagles, by 2 points, and DraftKings
DKNG,
favored the Eagles by 2.5 points.
The betting line will likely continue to change slightly over the next two weeks.
Super Bowl LVII (that’s 57 to you non-Romans) will kick off at 6:30 p.m. Eastern on Sunday, Feb. 12, in Glendale, Ariz.
The Chiefs edged the Cincinnati Bengals, 23-20, on Sunday night in the AFC Championship game in Kansas City, winning on a last-second field goal. Kansas City will be playing in its third Super Bowl in the past four years; the Chiefs last won it in 2020 over the San Francisco 49ers.
Earlier in the day, the Eagles earned their spot by demolishing the 49ers, 31-7, in an NFC Championship game in Philadelphia that was never close and saw both 49ers quarterbacks — starter Brock Purdy and backup Josh Johnson — leave the game with injuries (Purdy returned in the second half, but essentially could not throw the ball). The Eagles were last in the Super Bowl five years ago, when they beat the New England Patriots.
Last year, PlayUSA estimated there were more than $1 billion in legal wagers on the Super Bowl — a record amount — while AmericanGaming estimated a total of $7.61 billion was wagered in the U.S., when including casual bets, bookies and pool contests.
Sports betting is legal in some form in 32 states, as well as the District of Columbia, according to the American Gaming Association.
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Former President Donald Trump’s family business was ordered to pay about $1.6 million in criminal fines following its tax-fraud conviction in December. New York State Supreme Court Justice Juan Merchan imposed the penalty at a hearing Friday, according to the Wall Street Journal. A jury in December found two Trump Organization entities guilty of 17 criminal counts, including tax fraud and conspiracy.
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It may not have been a surprise to see the consumer discretionary sector of the S&P 500 get hammered last year amid talk of a looming recession while the Federal Reserve jacked up interest rates to push back against inflation.
But the stock market always looks ahead. Following a decline of 19.4% for the S&P 500
SPX,
in 2022 and a 37.6% drop for the benchmark index’s consumer discretionary sector, this may be the time to begin looking for bargains.
And now, analysts at Jefferies have lifted the sector to a “bullish” rating.
In a note to clients on Jan. 10, Jefferies’ global equity strategist, Sean Darby, wrote: “A Goldilocks scenario might be unfolding for the U.S. consumer — falling inflation but steady employment conditions.”
He sees consumer confidence improving, in part because “households are still sitting on [about] $1.4 trillion of Covid savings.”
Darby pointed to a list of 18 consumer discretionary stocks favored by Jefferies analysts that was published on Jan. 6. Those are listed below, along with three stocks in the sector the analysts rate “underperform.”
The ratings of the Jefferies analysts for individual stocks is based on their 12-month outlooks for the companies, in keeping with Wall Street tradition.
So we have added another list further down, showing which companies in the S&P 500 consumer discretionary sector are expected by analysts polled by FactSet to increase sales the most through 2024.
Here are the 18 consumer discretionary stocks recommended by Jefferies analysts with “buy” ratings on Jan. 6, sorted by how much upside the firm sees for the shares from closing prices on Jan. 9:
| Company | Ticker | Jan. 9 price | Jefferies price target | Implied 12-month upside potential | Three-year estimated sales CAGR through 2022 | Two-year estimated sales CAGR through 2024 |
| Topgolf Callaway Brands Corp. |
MODG, |
$20.76 | $56 | 170% | 32.8% | 10.0% |
| Bloomin’ Brands Inc. |
BLMN, |
$22.08 | $35 | 59% | 2.4% | 3.7% |
| Coty Inc. Class A |
COTY, |
$9.38 | $14 | 49% | -7.1% | 3.7% |
| MGM Resorts International |
MGM, |
$37.64 | $56 | 49% | -0.1% | 6.6% |
| Chewy Inc. Class A |
CHWY, |
$40.13 | $57 | 42% | 28.0% | 10.6% |
| Planet Fitness Inc. Class A |
PLNT, |
$82.36 | $115 | 40% | 10.4% | 13.9% |
| Molson Coors Beverage Co. Class B |
TAP, |
$50.21 | $69 | 37% | 0.5% | 1.4% |
| Fox Factory Holding Corp. |
FOXF, |
$99.90 | $135 | 35% | 28.1% | 6.6% |
| Hasbro Inc. |
HAS, |
$63.70 | $85 | 33% | 9.1% | 3.6% |
| Hostess Brands Inc. Class A |
TWNK, |
$23.10 | $30 | 30% | 14.2% | 5.0% |
| Lowe’s Cos. Inc. |
LOW, |
$199.44 | $250 | 25% | 10.6% | -1.9% |
| Walmart Inc. |
WMT, |
$144.95 | $175 | 21% | 4.9% | 3.3% |
| Dollar General Corp. |
DG, |
$241.05 | $285 | 18% | 10.9% | 6.7% |
| Church & Dwight Co. Inc. |
CHD, |
$82.25 | $97 | 18% | 7.0% | 4.6% |
| McDonald’s Corp. |
MCD, |
$267.25 | $315 | 18% | 2.4% | 4.0% |
| Estee Lauder Cos. Inc. Class A |
EL, |
$261.63 | $304 | 16% | 2.8% | 5.8% |
| Mondelez International Inc. Class A |
MDLZ, |
$67.24 | $75 | 12% | 6.3% | 4.1% |
| Tapestry Inc. |
TPR, |
$41.25 | $45 | 9% | 3.3% | 3.2% |
| Sources: Jefferies, FactSet | ||||||
Click on the tickers for more information about the companies.
Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.
The two right-most columns on the table show estimated compound annual growth rates (CAGR) for the companies over the past three calendar years and expected sales CAGR for two years through calendar 2024, based on the companies’ financial reports and consensus estimates among analysts polled by FactSet.
(We used calendar-year numbers, some of which are estimated by FactSet for prior years, because some companies have fiscal years or even months that don’t match the calendar.)
The stock pick with the highest 12-month upside potential, based on Jefferies’ price target, is Topgolf Callaway Brands Corp.
MODG,
This company has the highest estimated three-year sales CAGR on the list, and has the third-highest projected sales CAGR through 2024, after Planet Fitness Inc.
PLNT,
and Chewy Inc.
CHWY,
On Jan. 6, the Jefferies analysts also listed three stocks in the sector they rated “underperform.” Here they are, sorted by how much the analysts expect the stocks to decline over the next 12 months:
| Company | Ticker | Jan. 9 price | Jefferies price target | Implied 12-month upside potential | Three-year estimated sales CAGR through 2022 | Two-year estimated sales CAGR through 2024 |
| Lululemon Athletica Inc. |
LULU, |
$298.66 | $200 | -33% | 26.3% | 14.6% |
| Williams-Sonoma Inc. |
WSM, |
$122.17 | $98 | -20% | 14.1% | -0.3% |
| Harley-Davidson Inc. |
HOG, |
$43.25 | $39 | -10% | -2.8% | 4.4% |
| Sources: Jefferies, FactSet | ||||||
A look head at which companies are expected to increase sales the most over the next two years might serve as a good starting point for your own research.
Bear in mind that some of the companies in travel-related industries suffered declining sales for three years through 2022 because of the coronavirus pandemic. Some of those are on this new list of 20 stocks in the S&P 500 consumer discretionary sector expected to show the highest two-year sales CAGR through calendar 2024:
| Company | Ticker | Two-year estimated sales CAGR through 2024 | Three-year estimated sales CAGR through 2022 | Share “buy” ratings | Jan. 9 price | Consensus price target | Implied 12-month upside potential |
| Las Vegas Sands Corp. |
LVS, |
59.2% | -32.6% | 79% | $52.78 | $53.53 | 1% |
| Norwegian Cruise Line Holdings Ltd. |
NCLH, |
39.6% | -9.3% | 44% | $13.78 | $16.96 | 23% |
| Carnival Corp. |
CCL, |
35.2% | -14.7% | 30% | $9.47 | $10.11 | 7% |
| Tesla Inc. |
TSLA, |
34.3% | 49.7% | 64% | $119.77 | $232.43 | 94% |
| Wynn Resorts Ltd. |
WYNN, |
29.3% | -17.5% | 53% | $94.33 | $96.07 | 2% |
| Royal Caribbean Group |
RCL, |
28.4% | -6.8% | 53% | $57.29 | $66.43 | 16% |
| Chipotle Mexican Grill Inc. |
CMG, |
13.4% | 15.9% | 71% | $1,446.74 | $1,778.81 | 23% |
| Amazon.com Inc. |
AMZN, |
12.2% | 22.1% | 92% | $87.36 | $133.76 | 53% |
| Booking Holdings Inc. |
BKNG, |
11.9% | 3.9% | 63% | $2,208.41 | $2,307.67 | 4% |
| Aptiv PLC |
APTV, |
11.9% | 6.4% | 70% | $97.98 | $117.23 | 20% |
| Starbucks Corp. |
SBUX, |
11.2% | 7.2% | 42% | $104.74 | $103.44 | -1% |
| Etsy Inc. |
ETSY, |
11.1% | 45.3% | 50% | $120.99 | $124.04 | 3% |
| Hilton Worldwide Holdings Inc. |
HLT, |
10.1% | -2.9% | 38% | $129.08 | $146.17 | 13% |
| Expedia Group Inc. |
EXPE, |
9.0% | -0.9% | 50% | $93.77 | $125.65 | 34% |
| NIKE Inc. Class B |
NKE, |
8.1% | 5.8% | 62% | $124.85 | $126.15 | 1% |
| Marriott International Inc. Class A |
MAR, |
7.5% | -1.2% | 30% | $152.53 | $172.81 | 13% |
| BorgWarner Inc. |
BWA, |
7.1% | 15.3% | 53% | $42.24 | $46.93 | 11% |
| Tractor Supply Co. |
TSCO, |
6.8% | 19.0% | 61% | $217.48 | $232.34 | 7% |
| Yum! Brands Inc. |
YUM, |
6.7% | 6.4% | 47% | $129.76 | $137.79 | 6% |
| Dollar General Corp. |
DG, |
6.7% | 10.9% | 67% | $241.05 | $267.54 | 11% |
| Source: FactSet | |||||||
Among the companies on this list that didn’t suffer sales declines from 2019 levels, Tesla Inc.
TSLA,
is expected to achieve the highest two-year sales CAGR through 2022.
Dollar General Corp.
DG,
is the only company to appear on this list based on consensus sales growth estimates and the Jefferies recommended list.
Don’t miss: These 15 Dividend Aristocrat stocks have been the best income builders
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This has been the year of reckoning for Big Tech stocks — even those of companies that have continued to grow sales by double digits.
Below is a list of the 20 stocks in the S&P 500
SPX,
that have declined the most in 2022.
First, here’s how the 11 sectors of the benchmark index have performed this year:
| S&P 500 sector | 2022 price change | Forward P/E | Forward P/E as of Dec. 31, 2021 |
| Energy | 57.8% | 9.6 | 11.1 |
| Utilities | -0.5% | 18.8 | 20.4 |
| Consumer Staples | -2.7% | 20.9 | 21.8 |
| Healthcare | -3.2% | 17.4 | 17.2 |
| Industrials | -6.7% | 18.0 | 20.8 |
| Financials | -12.1% | 11.7 | 14.6 |
| Materials | -13.4% | 15.6 | 16.6 |
| Real Estate | -27.7% | 16.2 | 24.2 |
| Information Technology | -28.8% | 19.6 | 28.1 |
| Consumer Discretionary | -37.4% | 20.7 | 33.2 |
| Communication Services | -40.4% | 14.0 | 20.8 |
| S&P 500 | -19.2% | 16.5 | 21.4 |
| Source: FactSet | |||
The energy sector has been the only one to show a gain in 2022, and it has been a whopper, even as West Texas Intermediate crude oil
CL.1,
has given up most of its gains from earlier in the year. Here’s why investors are still confident in the supply/demand setup for oil and energy stocks.
Looking at the worst-performing sectors, you might wonder why the consumer discretionary and communication services sectors have fared worse than information-technology, the core tech sector. One reason is that S&P Dow Jones Indices can surprise investors with its sector choices. The consumer discretionary sector includes Tesla Inc.
TSLA,
and Amazon.com Inc.
AMZN,
which has fallen nearly 50% this year. The communications sector includes Meta Platforms Inc.
META,
along with Match Group Inc.
MTCH,
which is down 69% for 2022, and Netflix Inc.
NFLX,
which is down 52% this year.
There have been many reasons easy to cite for Big Tech’s decline, such as a questionable change in strategy for Facebook’s holding company, Meta, as CEO Mark Zuckerberg has put so much of the company’s resources into developing a new world that most people don’t wish to enter, at least yet. Meta’s shares were down 64% for 2022 through Dec. 29.
You might also blame the Twitter-related antics and sales of Tesla shares by CEO Elon Musk for the 65% decline in the electric-vehicle maker’s stock this year. But Tesla had a forward price-to-earnings ratio of 120.3 at the end of 2021, while the S&P 500
SPX,
traded for 21.4 times its weighted forward earnings estimate, according to FactSet. Those P/E ratios have now declined to 21.7 and 16.4, respectively. So Tesla no longer appears to be a very expensive stock, especially for a company that increased its vehicle deliveries by 42% in the third quarter from a year earlier.
Analysts polled by FactSet expect Tesla’s stock to double during 2023. It nearly made this list of 20 EV stocks expected to rebound the most in 2023.
Here are the 20 stocks in the S&P 500 that fell the most for 2022 through the close on Dec. 29.
| Company | Ticker | 2022 price change | Forward P/E | Forward P/E as of Dec. 32, 2021 |
| Generac Holdings Inc. |
GNRC, |
-71.4% | 13.7 | 30.2 |
| Match Group Inc. |
MTCH, |
-68.9% | 20.1 | 48.5 |
| Align Technology Inc. |
ALGN, |
-67.7% | 27.4 | 48.7 |
| Tesla Inc. |
TSLA, |
-65.4% | 21.7 | 120.3 |
| SVB Financial Group |
SIVB, |
-65.4% | 10.8 | 23.0 |
| Catalent Inc. |
CTLT, |
-64.6% | 13.0 | 32.5 |
| Meta Platforms Inc. Class A |
META, |
-64.2% | 14.7 | 23.5 |
| Signature Bank |
SBNY, |
-64.1% | 6.2 | 18.6 |
| PayPal Holdings Inc. |
PYPL, |
-62.6% | 14.8 | 36.0 |
| V.F. Corp. |
VFC, |
-62.5% | 11.9 | 20.4 |
| Warner Bros. Discovery Inc. Series A |
WBD, |
-59.9% | N/A | 7.5 |
| Carnival Corp. |
CCL, |
-59.8% | 38.1 | N/A |
| Stanley Black & Decker Inc. |
SWK, |
-59.8% | 17.0 | 15.9 |
| Lumen Technologies Inc. |
LUMN, |
-57.8% | 7.7 | 7.8 |
| Zebra Technologies Corp. Class A |
ZBRA, |
-56.7% | 14.5 | 30.1 |
| Dish Network Corp. Class A |
DISH, |
-56.5% | 8.6 | 10.9 |
| Caesars Entertainment Inc. |
CZR, |
-55.7% | 51.4 | 144.5 |
| Lincoln National Corp. |
LNC, |
-55.1% | 3.4 | 6.2 |
| Advanced Micro Devices Inc. |
AMD, |
-55.0% | 17.8 | 43.1 |
| Seagate Technology Holdings PLC |
STX, |
-53.1% | 15.0 | 12.4 |
| Source: FactSet | ||||
Click on the tickers for more information about the companies.
Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.
It is one thing to have a large decline based on the share price, but that doesn’t tell the entire story. How much of a decline have investors seen in the holdings of their shares during the year? The S&P 500’s total market capitalization declined to $31.66 trillion as of Dec. 28 (the most recent figure available) from $40.36 trillion at the end of 2021, according to FactSet.
Shareholders of these companies have suffered the largest declines in market cap during 2022.
| Company | Ticker | 2022 market capitalization change ($bil) | 2022 price change |
| Apple Inc. |
AAPL, |
-$851 | -27.0% |
| Amazon.com Inc. |
AMZN, |
-$832 | -49.5% |
| Microsoft Corp. |
MSFT, |
-$728 | -28.3% |
| Tesla Inc. |
TSLA, |
-$677 | -65.4% |
| Meta Platforms Inc. Class A |
META, |
-$465 | -64.2% |
| Nvidia Corp. |
NVDA, |
-$376 | -50.3% |
| PayPal Holdings Inc. |
PYPL, |
-$141 | -62.6% |
| Netflix Inc. |
NFLX, |
-$138 | -51.7% |
| Walt Disney Co. |
DIS, |
-$123 | -43.7% |
| Salesforce Inc. |
CRM, |
-$118 | -47.8% |
| Source: FactSet | |||
So there is your surprise for today: Apple is this year’s biggest stock-market loser.
Don’t miss: Best stock picks for 2023: Here are Wall Street analysts’ most heavily favored choices
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Business facilities, like hotels, casinos and car dealerships need to find ways to combat the smell of third-hand smoke.
Press Release
–
Dec 27, 2022 08:00 EST
SARASOTA, Fla., December 27, 2022 (Newswire.com)
–
Cigarette smoke removal services, like thermal fogging and ozone treatments, can cost $200 to $600 for a single treatment, and it takes days to complete. This causes facilities like hotels and casinos, which are already short-staffed, to spend thousands of dollars each year to keep their buildings free of cigarette and tobacco smoke odors. EcoClear Products, a company dedicated to providing 100% safe alternatives in the Specialty Chemical industry, has created SmokeOut™, a ready-to-use spray that addresses this ongoing issue for businesses.
Formulated to eliminate the stubborn and unpleasant odors left behind by cigarettes, cigars and pipes, SmokeOut™ destroys smoke smells at their source, both in the air and on other porous surfaces, like fabrics. When used as directed on furniture, rugs, linens and pillows, for example, SmokeOut™ chemically alters, neutralizes and destroys offensive smoke and tobacco odors. If the source of the odor is not reintroduced into the room, the room will remain deodorized.
Third-hand smoke poses a potential health hazard to non-smokers, especially children. People become exposed to the chemicals in third-hand smoke when they touch contaminated surfaces or breathe in the gas third-hand smoke may release.
“Unlike other odor eliminators, which often just mask a scent, SmokeOut™ destroys odors at the molecular level,” said Christopher Stidd, founder of EcoClear Products. “Businesses can now rest easy knowing their facilities won’t face devaluation backlash due to unwanted lingering scents of smoke, and that they can continue to offer their guests a strong customer experience.”
EcoClear Products boasts safe, effective and harmless cleaning agents that use patented and proprietary compounds and processes. Its chemists have received Presidential Awards for “green” chemistry as a result of their extensive experience in pesticides, rodenticides and detergents and their passion for creating innovative offerings.
To learn more, visit http://www.ecoclearproducts.com/pro
About EcoClear Products
EcoClear Products, Inc. is a leading developer of specialty products, which include ecological cleaning, odor removal products, and pest control solutions. Based in Sarasota, Florida, and founded in 2013, EcoClear’s mission is to develop innovative and effective products safe for people, pets, and wildlife. EcoClear has been recognized for its commitment to advancements in sustainable chemistry and efficacy. For more information, visit www.ecoclearproducts.com/pro
Source: EcoClear Products
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Following a sharp and sustained rise in interest rates, U.S. stocks have taken a broad beating this year.
But 2023 may bring very different circumstances.
Below are lists of analysts’ favorite stocks among the benchmark S&P 500
SPX,
the S&P 400 Mid Cap Index
MID
and the S&P Small Cap 600 Index
SML
that are expected to rise the most over the next year. Those lists are followed by a summary of opinions of all 30 stocks in the Dow Jones Industrial Average
DJIA.
Stocks rallied on Dec. 13 when the November CPI report showed a much slower inflation pace than economists had expected. Investors were also anticipating the Federal Open Market Committee’s next monetary policy announcement on Dec. 14. The consensus among economists polled by FactSet is for the Federal Reserve to raise the federal funds rate by 0.50% to a target range of 4.50% to 4.75%.
Read: 5 things to watch when the Fed makes its interest-rate decision
A 0.50% increase would be a slowdown from the four previous increases of 0.75%. The rate began 2022 in a range of zero to 0.25%, where it had sat since March 2020.
A pivot for the Fed Reserve and the possibility that the federal funds rate will reach its “terminal” rate (the highest for this cycle) in the near term could set the stage for a broad rally for stocks in 2023.
Among the S&P 500, 92 stocks are rated “buy” or the equivalent by at least 75% of analysts working for brokerage firms. That number itself is interesting — at the end of 2021, 93 of the S&P 500 had this distinction. Meanwhile, the S&P 500 has declined 16% in 2022, with all sectors down except for energy, which has risen 53%, and the utilities sector, which his risen 1% (both excluding dividends).
Here are the 20 stocks in the S&P 500 with at least 75% “buy” or equivalent ratings that analysts expect to rise the most over the next year, based on consensus price targets:
| Company | Ticker | Industry | Closing price – Dec. 12 | Consensus price target | Implied 12-month upside potential | Share “buy” ratings | Price change – 2022 through Dec. 12 |
| EQT Corp. | EQT | Oil and Gas Production | $36.91 | $59.70 | 62% | 78% | 69% |
| Catalent Inc. | CTLT | Pharmaceuticals | $45.50 | $72.42 | 59% | 75% | -64% |
| Amazon.com Inc. | AMZN | Internet Retail | $90.55 | $136.02 | 50% | 91% | -46% |
| Global Payments Inc. | GPN | Misc. Commercial Services | $99.64 | $147.43 | 48% | 75% | -26% |
| Signature Bank | SBNY | Regional Banks | $122.73 | $180.44 | 47% | 78% | -62% |
| Salesforce Inc. | CRM | Software | $133.11 | $195.59 | 47% | 80% | -48% |
| Bio-Rad Laboratories Inc. Class A | BIO | Medical Specialties | $418.28 | $591.00 | 41% | 100% | -45% |
| Zoetis Inc. Class A | ZTS | Pharmaceuticals | $152.86 | $212.80 | 39% | 87% | -37% |
| Delta Air Lines Inc. | DAL | Airlines | $34.77 | $48.31 | 39% | 90% | -11% |
| Diamondback Energy Inc. | FANG | Oil and Gas Production | $134.21 | $182.33 | 36% | 84% | 24% |
| Caesars Entertainment Inc | CZR | Casinos/ Gaming | $50.27 | $67.79 | 35% | 81% | -46% |
| Alphabet Inc. Class A | GOOGL | Internet Software/ Services | $93.31 | $125.70 | 35% | 92% | -36% |
| Halliburton Co. | HAL | Oilfield Services/ Equipment | $34.30 | $45.95 | 34% | 86% | 50% |
| Alaska Air Group Inc. | ALK | Airlines | $45.75 | $61.08 | 34% | 93% | -12% |
| Targa Resources Corp. | TRGP | Gas Distributors | $70.42 | $93.95 | 33% | 95% | 35% |
| Charles River Laboratories International Inc. | CRL | Misc. Commercial Services | $201.94 | $269.25 | 33% | 88% | -46% |
| ServiceNow Inc. | NOW | Information Technology Services | $401.64 | $529.83 | 32% | 92% | -38% |
| Take-Two Interactive Software Inc. | TTWO | Software | $102.61 | $135.04 | 32% | 79% | -42% |
| EOG Resources Inc. | EOG | Oil and Gas Production | $124.06 | $158.24 | 28% | 82% | 40% |
| Southwest Airlines Co. | LUV | Airlines | $38.94 | $49.56 | 27% | 76% | -9% |
| Source: FactSet | |||||||
Most of the companies on the S&P 500 list expected to soar in 2023 have seen large declines in 2022. But the company at the top of the list, EQT Corp.
EQT,
is an exception. The stock has risen 69% in 2022 and is expected to add another 62% over the next 12 months. Analysts expect the company’s earnings per share to double during 2023 (in part from its expected acquisition of THQ), after nearly a four-fold EPS increase in 2022.
Shares of Amazon.com Inc.
AMZN
are expected to soar 50% over the next year, following a decline of 46% so far in 2022. If the shares were to rise 50% from here to the price target of $136.02, they would still be 18% below their closing price of 166.72 at the end of 2021.
Read: Here’s why Amazon is Citi’s top internet stock idea
You can see the earnings estimates and more for any stock in this article by clicking on its ticker.
Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.
The lists of favored stocks are limited to those covered by at least five analysts polled by FactSet.
Among components of the S&P 400 Mid Cap Index, there are 84 stocks with at least 75% “buy” ratings. Here at the 20 expected to rise the most over the next year:
| Company | Ticker | Industry | Closing price – Dec. 12 | Consensus price target | Implied 12-month upside potential | Share “buy” ratings | Price change – 2022 through Dec. 12 |
| Arrowhead Pharmaceuticals Inc. | ARWR | Biotechnology | $31.85 | $69.69 | 119% | 83% | -52% |
| Lantheus Holdings Inc. | LNTH | Medical Specialties | $54.92 | $102.00 | 86% | 100% | 90% |
| Progyny Inc. | PGNY | Misc. Commercial Services | $31.21 | $55.57 | 78% | 100% | -38% |
| Coherent Corp. | COHR | Electronic Equipment/ Instruments | $35.41 | $60.56 | 71% | 84% | -48% |
| Exelixis Inc. | EXEL | Biotechnology | $16.08 | $26.07 | 62% | 81% | -12% |
| Darling Ingredients Inc. | DAR | Food: Specialty/ Candy | $61.17 | $97.36 | 59% | 93% | -12% |
| Perrigo Co. PLC | PRGO | Pharmaceuticals | $31.83 | $49.25 | 55% | 100% | -18% |
| Mattel Inc. | MAT | Recreational Products | $17.39 | $26.58 | 53% | 87% | -19% |
| ACI Worldwide Inc. | ACIW | Software | $20.75 | $31.40 | 51% | 83% | -40% |
| Topgolf Callaway Brands Corp. | MODG | Recreational Products | $21.99 | $32.91 | 50% | 83% | -20% |
| Dycom Industries Inc. | DY | Engineering and Construction | $86.03 | $128.13 | 49% | 100% | -8% |
| Travel + Leisure Co. | TNL | Hotels/ Resorts/ Cruiselines | $37.98 | $56.00 | 47% | 75% | -31% |
| Frontier Communications Parent Inc. | FYBR | Telecommunications | $25.21 | $36.18 | 44% | 82% | -15% |
| Manhattan Associates Inc. | MANH | Software | $120.06 | $171.80 | 43% | 88% | -23% |
| MP Materials Corp Class A | MP | Other Metals/ Minerals | $31.39 | $44.79 | 43% | 92% | -31% |
| Lumentum Holdings Inc. | LITE | Electrical Products | $54.45 | $76.44 | 40% | 76% | -49% |
| Tenet Healthcare Corp. | THC | Hospital/ Nursing Management | $44.22 | $62.00 | 40% | 80% | -46% |
| Repligen Corp. | RGEN | Pharmaceuticals | $166.88 | $233.10 | 40% | 82% | -37% |
| STAAR Surgical Co. | STAA | Medical Specialties | $59.57 | $82.67 | 39% | 82% | -35% |
| Carlisle Cos. Inc. | CSL | Building Products | $251.99 | $348.33 | 38% | 75% | 2% |
| Source: FactSet | |||||||
Among companies in the S&P Small Cap 600 Index, 91 are rated “buy” or the equivalent by at least 75% of analysts. Here are the 20 with the highest 12-month upside potential indicated by consensus price targets:
| Company | Ticker | Industry | Closing price – Dec. 12 | Consensus price target | Implied 12-month upside potential | Share “buy” ratings | Price change – 2022 through Dec. 12 |
| UniQure NV | QURE | Biotechnology | $22.99 | $51.29 | 123% | 95% | 11% |
| Cara Therapeutics Inc. | CARA | Biotechnology | $11.34 | $23.63 | 108% | 88% | -7% |
| Vir Biotechnology Inc. | VIR | Biotechnology | $25.50 | $53.00 | 108% | 75% | -39% |
| Dynavax Technologies Corp. | DVAX | Biotechnology | $11.22 | $23.20 | 107% | 100% | -20% |
| Thryv Holdings Inc. | THRY | Advertising/ Marketing Services | $18.40 | $36.75 | 100% | 100% | -55% |
| Artivion Inc. | AORT | Medical Specialties | $12.93 | $23.13 | 79% | 83% | -36% |
| Cytokinetics Inc. | CYTK | Pharmaceuticals | $38.33 | $67.43 | 76% | 100% | -16% |
| Harsco Corp. | HSC | Environmental Services | $7.17 | $12.30 | 72% | 80% | -57% |
| Ligand Pharmaceuticals Inc. | LGND | Pharmaceuticals | $64.80 | $110.83 | 71% | 100% | -35% |
| Corcept Therapeutics Inc. | CORT | Pharmaceuticals | $20.84 | $34.20 | 64% | 80% | 5% |
| Payoneer Global Inc. | PAYO | Misc. Commercial Services | $5.70 | $9.33 | 64% | 100% | -22% |
| Xencor Inc. | XNCR | Biotechnology | $28.69 | $46.71 | 63% | 93% | -28% |
| Pacira Biosciences Inc. | PCRX | Pharmaceuticals | $45.50 | $72.90 | 60% | 80% | -24% |
| BioLife Solutions Inc. | BLFS | Chemicals | $19.72 | $31.38 | 59% | 89% | -47% |
| Customers Bancorp Inc. | CUBI | Regional Banks | $30.00 | $47.63 | 59% | 75% | -54% |
| ModivCare Inc. | MODV | Other Transportation | $92.22 | $145.83 | 58% | 100% | -38% |
| Stride Inc. | LRN | Consumer Services | $32.56 | $51.25 | 57% | 100% | -2% |
| Ranger Oil Corp. Class A | ROCC | Oil and Gas Production | $36.98 | $58.00 | 57% | 100% | 37% |
| Outfront Media Inc. | OUT | Real Estate Investment Trusts | $17.59 | $27.00 | 53% | 83% | -34% |
| Walker & Dunlop Inc. | WD | Finance/ Rental/ Leasing | $82.22 | $125.20 | 52% | 100% | -46% |
| Source: FactSet | |||||||
Here are all 30 components of the Dow Jones Industrial Average ranked by how much analysts expect their prices to rise over the next year:
| Company | Ticker | Industry | Closing price – Dec. 12 | Consensus price target | Implied 12-month upside potential | Share “buy” ratings | Price change – 2022 through Dec. 12 |
| Salesforce Inc. | CRM | Software | $133.11 | $195.59 | 47% | 80% | -48% |
| Walt Disney Co. | DIS | Movies/ Entertainment | $94.66 | $119.60 | 26% | 82% | -39% |
| Apple Inc. | AAPL | Telecommunications Equipment | $144.49 | $173.70 | 20% | 74% | -19% |
| Verizon Communications Inc. | VZ | Telecommunications | $37.95 | $44.60 | 18% | 21% | -27% |
| Visa Inc. Class A | V | Misc.s Commercial Services | $214.59 | $249.33 | 16% | 86% | -1% |
| Microsoft Corp. | MSFT | Software | $252.51 | $293.06 | 16% | 91% | -25% |
| Chevron Corp. | CVX | Integrated Oil | $169.75 | $191.20 | 13% | 54% | 45% |
| Cisco Systems Inc. | CSCO | Information Technology Services | $49.30 | $53.76 | 9% | 44% | -22% |
| UnitedHealth Group Inc. | UNH | Managed Health Care | $545.86 | $593.30 | 9% | 85% | 9% |
| Goldman Sachs Group Inc. | GS | Investment Banks/ Brokers | $363.18 | $392.63 | 8% | 59% | -5% |
| Walmart Inc. | WMT | Specialty Stores | $148.02 | $159.86 | 8% | 72% | 2% |
| JPMorgan Chase & Co. | JPM | Banks | $134.21 | $143.84 | 7% | 59% | -15% |
| Home Depot Inc. | HD | Home Improvement Chains | $327.98 | $346.61 | 6% | 61% | -21% |
| American Express Co. | AXP | Finance/ Rental/ Leasing | $157.31 | $164.57 | 5% | 43% | -4% |
| McDonald’s Corp. | MCD | Restaurants | $276.62 | $288.67 | 4% | 72% | 3% |
| Johnson & Johnson | JNJ | Pharmaceuticals | $177.84 | $185.35 | 4% | 36% | 4% |
| Coca-Cola Co. | KO | Beverages: Non-Alcoholic | $63.97 | $66.62 | 4% | 73% | 8% |
| Boeing Co. | BA | Aerospace and Defense | $186.27 | $192.69 | 3% | 77% | -7% |
| Intel Corp. | INTC | Semiconductors | $28.69 | $29.54 | 3% | 13% | -44% |
| Walgreens Boots Alliance Inc. | WBA | Drugstore Chains | $41.06 | $42.24 | 3% | 17% | -21% |
| Merck & Co. Inc. | MRK | Pharmaceuticals | $108.97 | $110.62 | 2% | 65% | 42% |
| Caterpillar Inc. | CAT | Trucks/ Construction/ Farm Machinery | $233.06 | $236.23 | 1% | 41% | 13% |
| Honeywell International Inc. | HON | Aerospace and Defense | $214.50 | $217.35 | 1% | 54% | 3% |
| Nike Inc. Class B | NKE | Apparel/ Footwear | $112.07 | $112.58 | 0% | 64% | -33% |
| 3M Co. | MMM | Industrial Conglomerates | $126.85 | $127.30 | 0% | 5% | -29% |
| Procter & Gamble Co. | PG | Household/ Personal Care | $152.47 | $150.22 | -1% | 59% | -7% |
| Travelers Companies Inc. | TRV | Multi-Line Insurance | $187.11 | $184.24 | -2% | 18% | 20% |
| Amgen Inc. | AMGN | Biotechnology | $276.78 | $264.79 | -4% | 24% | 23% |
| Dow Inc. | DOW | Chemicals | $51.11 | $48.73 | -5% | 15% | -10% |
| International Business Machines Corp. | IBM | Information Technology Services | $149.21 | $140.29 | -6% | 33% | 12% |
| Source: FactSet | |||||||
Don’t miss: 10 Dividend Aristocrat stocks expected by analysts to rise up to 54% in 2023
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Ever since Starbucks Corp. rolled out longer-term financial targets in September, Wall Street has wondered how the coffee chain might meet what analysts say were ambitious goals, as rising prices drain consumer spending. For at least the year ahead, executives on Thursday called out three ways to get there: higher prices, younger customers and cold, customizable beverages.
For the fiscal year ahead, executives for the coffee chain on Thursday said they expected global same-store sales to be “near the high end” of its long-term target of between 7% to 9% growth. FactSet expects growth of 8.6%.
When an analyst asked what gave management confidence in that target, interim Chief Executive Howard Schultz said that its coffee was an “affordable luxury,” and that it was armed with a loyalty program that it didn’t have in years past. And they said its customers were getting younger, not older.
“Not only has it gotten younger, but that young, Gen Z customer tends to have significantly more discretionary money at their disposal,” he said. “And their loyalty to Starbucks has been quite significant and predicted.”
He said Starbucks
SBUX,
had raised prices by nearly 6% over the past 12 months and hadn’t seen demand subside. And he said cold coffee beverages made up 76% percent of total drink sales in its U.S. company-owned stores. In the fourth quarter, more than half of beverages overall in those stores were customized, leading to $1 billion in sales a year for add-on syrups, foams and other ingredients.
“I think customization, which we spoke a lot about in our prepared remarks, is obviously giving us the ticket is becoming more accretive,” he said.
Management said they expect U.S. same-store sales growth of 7% to 9% for the year ahead. For China, they’re banking on “outsize” growth for the metric — interrupted by a decrease in the first-quarter — as the nation potentially emerges from pandemic-related lockdowns.
For overall revenue, they expect gains of between 10% and 12%. Management also said they would resume their buyback program in fiscal 2023.
Even as the Federal Reserve tries to chart a path to lower prices, Starbucks is the latest company to say it still has “pricing power,” or the ability to charge customers more. Snack maker Mondelez International
MDLZ,
earlier in the week, said it planned to raise prices through next year. Similarly, its own chief executive also described its snacks as an “affordable indulgence.”
Prior to the call, Starbucks reported fiscal fourth-quarter results that beat expectations, helped by a boost in U.S. sales and higher prices.
The coffee chain reported net income of $878 million, or 76 cents a share, compared with $1.76 billion, or $1.49 a share, in the same quarter last year. Revenue rose 3% to $8.4 billion, compared with $8.15 billion in the prior-year quarter.
Same-store sales rose 7% worldwide, helped largely by bigger ticket sizes, even as actual transaction volume remained muted. They were up 11% in the U.S. But international same-store sales fell 5%, with a 16% drop in China.
Excluding restructuring, impairment and other costs, Starbucks earned 81 cents per share, compared with 99 cents a year earlier. U.S. members of its loyalty program who were active for three months rose 16% to 28.7 million.
Analysts polled by FactSet expected Starbucks to report adjusted earnings per share of 72 cents, on revenue of $8.323 billion. Same-store sales were expected to rise 4.2%.
Shares rose 2.4% after hours.
As with other restaurants and retailers, Starbucks’ sales this year have been helped by price increases. Analysts have also said higher-income consumers, who might not mind higher prices as much, as well as demand for cold beverages, have propelled demand. While China’s COVID-19 restrictions have weighed on sales, analysts say demand trends are strong elsewhere.
“The U.S. business is humming, and the China risk is increasingly understood,” Wedbush analyst Nick Setyan wrote in a research note ahead of Starbucks’ earnings.
The earnings report comes as Starbucks battles a nascent unionization push at some of its stores. Some bargaining efforts between the company and the union members have stalled, amid allegations from both of bad-faith negotiations. The company over the past year has spent more to raise employee pay and rolled out other incentives at non-union stores.
Starbucks stock has tumbled 27% so far this year. The S&P 500 Index
SPX,
by comparison, is down around 22%.
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It is three weeks before Black Friday, but the Federal Reserve is about to make the post-holiday debt hangover a little more intense.
By the time the latest rate hikes filter through the very rate-sensitive credit card industry and pump up customers’ annual percentage rates a little more, experts say it will be some point in December 2022 or January 2023. Right in time for many holiday gifts and expenses to post on credit cards bills — and there to make the costs of a carried balance a little extra expensive.
Every year, many people accumulate credit card debt through the holiday season, pay it off in the early part of the following year and then repeat the process.
What’s different now is the presence of four-decade high inflation, coupled with fast-rising interest rates that the Fed hopes will ultimately cool those rising prices, although without sending the economy to a recessionary thud.
Wednesday’s rate move is the fourth straight 75-basis-point rate hike to the federal funds rate, taking it to the 3.75% -4% range, when it was near zero last year’s holiday season. By now, Americans are all too acquainted with 2022’s fast-rising interest rates. They just haven’t gone through a Christmas and Hanakkuh with it yet.
“It’s not the time to overspend and have a problem with paying your bills later. We know the economy is sending mixed messages,” said Michele Raneri, vice president of financial services research and consulting at TransUnion
TRU,
one of the country’s three major credit reporting companies.
It’s extra important to think through a holiday budget and how much relies on credit, she said. “People need to think about how much they can afford to repay and how long it will take to repay it.”
Last month, third-quarter earnings from major banks like JPMorgan Chase & Co.
JPM,
Wells Fargo
WFC,
Citibank
C,
and Bank of America
BAC,
indicated consumer finances, on the whole, are not yet showing cracks under inflation’s strains. (Other numbers show the strain, like the personal savings rate that’s been dwindling.)
Now, two forecasts suggest many people ready to spend the same amount for this year’s holiday cheer as they did last year.
People are planning to spend an average $1,430 on gifts, travel and entertainment this year, which is around the $1,447 spent last year, according to PwC researchers. Three-quarters of people said they were planning to spend the same or more than last year and respondents said credit cards were one of their top ways to pay.
“ Compared to last year, credit card balances are getting bigger, more people are sitting on balances and debt costs are getting pricier.”
By another measure, Americans will pay an average $1,455 on holiday-related gifts and experiences, essentially flat from last year, say Deloitte researchers.
More than one-third of surveyed consumers say their financial outlook is worse than the same point last year. Nearly one-quarter of people were concerned about credit card debt as of late September, Deloitte’s numbers show in an ongoing tracking of consumer mood.
It’s understandable to see the concern with households amassing a collective $890 billion in credit card debt through the second quarter. Compared to last year, balances are getting bigger, more people are sitting on balances and debt costs are getting pricier because the interest rates applied to those balances are rising.
When people were carrying a credit card balance month to month, the sum was $5,474 on average, according to Raneri. That’s through the end of September and it’s a nearly 13% rise year over year, she said. The 164 million people carrying a balance is a 5% increase from last year, she noted.
Credit cards carrying a balance during the third quarter had an average 18.43% APR, Federal Reserve data shows. That’s up from 16.65% in the second quarter and up from 17.13% in 2021’s third quarter.
Credit card issuers typically determine their rates by applying a “prime rate” — typically three percentage points on top of the federal funds rate — and the issuer’s profit margin, said Ted Rossman, senior industry analyst at Bankrate.com.
By late October, the rate on new card offers was 18.73%, according to Bankrate data. At this point last year, it was 16.31%, Rossman said. In a few weeks, the rates on new offers should beat the all-time record of an average 19% APR, exclusive to new offers, he added.
While it can take a billing cycle or two for a higher APR to make its way to an existing credit card account, Rossman noted the APRs on new offers could rise in a matter of days.
Here’s a hypothetical to show how much more expensive credit card debt becomes with every extra hike. Suppose the $5,474 balance is on a credit card with the current 18.73% average. If a person has to resort to minimum payments, Rossman said, they’d be paying $7,118 just in interest to pay off the debt.
“ In a few weeks, the rates on new credit card offers should beat the all-time record of an average 19% APR.”
What if the 18.73% APR gets kicked up 75 basis points to 19.48%? If that same borrower has to pay minimums, they are now paying $7,417 in interest to snuff the principal debt of $5,474, Rossman said.
The example has its limits because people may pay more than the minimum and they may incur more credit card debt as they pay off the old one. But it shows a bigger point: “Unfortunately, anybody dealing with credit card debt is a loser from the series of rate hikes. It was already expensive. It’s getting more so,” Rossman said.
While decisions during the Fed’s November meeting can have a ripple effect on holiday-time borrowing costs, observers say the real question about Wednesday is the clues Federal Reserve Chairman Jerome Powell drops for what’s next. The central bank’s committee voting on interest rate increases reconvenes in mid-December.
On Wednesday, the Fed said in a statement it expected further rate increases, but also said it would be watching to see if there were lag effects with its tightening policies, which could slow or limit the total amount of increases.
“People, when they hear lags, they think about a pause. It’s very premature, in my view, to think about or be talking about pausing our rate hike. We have a ways to go,” Powell told reporters at a Wednesday afternoon press conference.
The economy is strong enough to handle higher rates, Powell said. For one thing, households have “strong balance sheets” and “strong spending power,” he noted.
Stock markets first jumped higher after the latest interest rate announcement. But they gave up the gains — and then some — by the end of the day. The Dow Jones Industrial Average
DJIA,
was down more than 500 points, or 1.6% while the S&P 500
SPX,
was down 2.5% and the Nasdaq Composite
COMP,
closed 3.4% lower.
Top economists in major North American-based banks forecasted the Fed will keep raising interest rates “until the first quarter of next year before potentially lowering rates through the end of 2023,” Sayee Srinivasan, chief economist at the American Bankers Association, the banking sector’s trade association, said ahead of Wednesday’s latest rate hike.
“Top economists polled as part of a banking industry panel expect Fed rate increases through at least the first quarter of 2023.”
The forecast, coming through an ABA advisory committee, is no sure thing. “Everything depends on the ability of the Fed to bring inflation down, so that will remain their clear priority,” said Srinivasan.
Meanwhile, rising costs may cause more people to put the holiday cheer on plastic, even their decorations. The majority of Christmas tree growers in one poll are expecting wholesale prices to climb 5% to 15% for this season.
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U.S. stock indexes edged higher on Wednesday, while hotter-than-expected producer price inflation data deepened concerns that the Federal Reserve may continue its aggressive interest rate hikes.
On Tuesday, the Dow Jones Industrial Average rose 36 points, or 0.12%, to 29239, the S&P 500 declined 24 points, or 0.65%, to 3589, and the Nasdaq Composite dropped 116 points, or 1.1%, to 10426. The S&P 500 closed down 1,177 points, or 24.7% for the year to date.
The 12-month rate of producer price inflation slowed to to 8.5% from 8.7% while the annual core rate, excluding food and energy, was unchanged at 5.6%, but the monthly rate rose 0.4% in September, above forecast, and the monthly core PPI was also up 0.4% in September.
Such data has worsened fears that to curb inflation, the Fed will continue its aggressive rate hikes, which may steer the U.S. economy into a recession.
“We believe the odds of a recession in 2023 are now better than 50%,” Greg Bassuk, chief executive at AXS Investments, wrote in a Wednesday note. “Last week’s market turbulence saw volatility at levels we have not seen since July, and we believe investors should brace for ongoing market volatility and uncertainty throughout Q4, in concert with another likely Fed interest rate hike to the tune of 0.75% in November,” according to Bassuk.
The 10-year Treasury yield BX:TMUBMUSD10Y, which started the year around 1.65% was trading at 3.931% on Wednesday, off 1.3 basis points, after the producer price inflation data.
Traders are also awaiting U.S. September consumer prices data on Thursday due at 8:30 am Eastern Time.
“Inflation has proven to be difficult to forecast and given the negative ‘shock’ from the August CPI, it would be difficult for any investor to have conviction going into this report,” according to Tom Lee, head of research at Fundstrat.
“For us, analyzing the month over month numbers is much more important than looking at the headline,” Zachary Hill, head of portfolio management at Horizon Investments, said in an interview.
“The way we’ve been thinking about it, the last three months annualized [inflation] gives you a kind of a decent idea of where the shorter term trends are around inflation,” Hill said. “We think that’s what the Fed is going to be looking at to see progress towards their 2% goal. And unfortunately, based on various measures, we’re nowhere near that today.”
Adding to the market anxiety, and keeping any Wednesday rally in check, is the continuing volatility in U.K. government bonds after the Bank of England reiterated it would stop supporting the market after Friday.
Investors have become increasingly concerned of late that severe stresses in the financial system may emerge as central banks switch from the era of zero or negative interest rates to sharply higher borrowing costs as they try to tackle inflation at multi-decade highs.
“[G]lobal financial conditions have tightened as central banks continue to raise interest rates. Our latest Global Financial Stability Report shows that financial stability risks have increased since our last report, with the balance of risks tilted to the downside,” said the International Monetary Fund in a report released on Tuesday.
“The mood of global investors was gloomy enough and hardly needed yesterday’s reminder from the IMF that the risks to financial stability have increased,” Ian Williams, strategist at Peel Hunt, noted. “Its report highlighted specifically (if obviously) the threats from persistent inflation, China’s slowdown and the war in Ukraine. The highlighted ‘disorderly repricing of risk’ is arguably already underway.”
The Fed may offer its view on the topic as a number of officials are due to give comments on Wednesday. Minneapolis Fed President Neel Kashkari said the Fed is “dead serious” about getting inflation down. Fed vice chair Michael Barr will speak at 1:45 p.m. The minutes of the Fed’s previous monetary policy setting meeting will be released at 2 p.m. ET and Fed governor Michelle Bowman will deliver comments at 6.30 pm.
PHG,
plunged 12% after the Dutch tech company issued its second profit warning this year, forewarning that supply chain problems will impact sales and third-quarter profits.
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Royal Philips NV said Wednesday that its performance for the third quarter was hurt by stronger-than-anticipated supply-chain challenges, and adopted a more pessimistic view on its sales through the end of the year.
The Dutch health-technology company
PHIA,
PHG,
said that it expects to record a 1.3 billion euro ($1.26 billion) impairment charge in the period. The company said that this is an impairment of goodwill of Philips Respironics, its sleep and respiratory care business, and that it is due to revisions to the business’s financial forecast.
This compares with adjusted Ebita of EUR512 million, or 12.3% of sales, a year earlier.
Analysts had seen the metric at EUR336 million, according to a consensus estimate provided by the company.
Philips expects to book a EUR1.3 billion impairment charge on its sleep and respiratory care business after revising its financial forecast for the unit, it said.
Group comparable sales for the quarter fell around 5%.
For the last quarter of the year, Philips now expects a mid-single-digit decline in comparable sales, it said.
In late July, Philips had guided for 6%-9% growth in comparable sales over the second half of the year.
“Philips still expects a better second half of the year, compared to the first half of 2022. However, the company sees prolonged supply chain disruptions and a worsening macro-environment,” it said.
The company said it expects adjusted Ebita margin to be in the range of a high single to double digit for the last quarter of the year.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com and Cristina Roca at cristina.roca@wsj.com
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The travel points membership service is helping timeshare owners generate revenue from their unused points with its 100%, money-back guaranteed programs.
Press Release
–
Aug 24, 2022
WILDWOOD, Mo., August 24, 2022 (Newswire.com)
–
Elite Member Perks, a travel points management service, has begun helping timeshare owners discover new ways to profit from their unused points. The service, which specializes in helping clients get value out of their property ownership, is now helping timeshare owners with everything from mortgage management to maintenance fee payment plans, all without putting their lines of credit or financial situations at risk.
In the post-pandemic era, online booking is the preferred method of travel, and vacation rentals are higher than ever. Those who purchase timeshares in the hopes of saving money and increasing their return on investment are often frustrated when the points that correspond to their allotted vacation time go unused at the end of a yearly cycle.
With Elite Member Perks, clients can enter into a lasting relationship with an expert team that will manage their points for them so that they may enjoy their vacations to the fullest. The Elite Member Perks team works to convert unused timeshare points into money in the form of reimbursement checks. When resorts refuse to buy timeshares back and the resale market fails to provide any value, the Elite Member Perks team can leverage its network to help clients receive reimbursement paychecks every quarter.
After recognizing the need to assist timeshare owners who were unable to take advantage of their ownership, principal owner Kyle Brown and his team set out to help individuals who were losing out on compensation from their unused points.
“We like to use the phrase ‘have peace of mind without losing a dime,’ when engaging with new clients,” said Brown. “Many timeshare owners fail to realize just how much compensation they are losing due to this issue. We work to educate our clients while simultaneously putting plans into action to reduce their losses and increase their revenue, all without ever putting their lines of credit at risk.”
Elite Member Perks primarily operates in Florida and Missouri. With physical office locations in both states, both teams have experienced tremendous growth in recent months. Both offices manage outreach and client services, and the Missouri office also oversees all reservations, customer service, onboarding, and payment processes.
Having just removed all sign-up fees from its programs, Elite Member Perks is looking to work with hundreds of new timeshare owners in the coming months. To learn more about Elite Member Perks’ programs, please visit https://www.elitememberperks.com.
About Elite Member Perks
We pay timeshare owners on their unused resort points. Points they can’t use for the year get turned into us for cash.
Contact Information
Mariah Harrison or Laura Bohannon @ (877) 600-5711
Email: Laura@elitememberperks.com
Source: Elite Member Perks LLC
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St. Julian Hotels and Residences will operate in some of the world’s hottest travel destinations. Horst Schulze, co-founder of the Ritz Carlton Hotel Company, is a Board Director.
Press Release
–
Mar 15, 2022
DALLAS, March 15, 2022 (Newswire.com)
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As the hospitality industry rebounds from the COVID-19 pandemic, some of the world’s most influential hospitality leaders have joined the board of St. Julian Hotels and Residences, an ultra-luxury brand that will redefine luxury hospitality.
For more information on the brand, visit StJulianResidences.com.
“St. Julian Residences will combine the uncompromising service and quality of the world’s best hotels with the flexibility of vacation rentals, offering differentiated luxury for discerning travelers,” states Dr. Jeffrey Obomeghie, the renowned hospitality leader (also known as Dr. Jeffrey O) who is CEO of St. Julian Hotels and Residences.
St. Julian properties will offer extraordinary spaces located in top destination markets such as Miami, Honolulu, San Francisco, New York City, Maui, Paris, Rome, Santorini, and others. These exceptional properties will operate at the intersection of superlative customer service and technology. The flagship St. Julian Hotel is expected to open in December 2023 at a projected development cost of $120 million. “We will franchise only extraordinary properties that are aligned with our obsessive focus on service excellence,” says Dr. Obomeghie.
The board of directors of St. Julian Hotels and Residences includes Horst Schulze, the co-founder of the Ritz Carlton Hotel Company; Dr. Jeffrey O, president of the International Hospitality Institute; Filip Boyen, former CEO of Forbes Travel Guide; Leticia Proctor, Executive Vice President at Donohoe Hospitality Services; and Frances Kiradjian, founder of the Boutique Lifestyle Leaders Association.
“I am proud to serve on the board of St. Julian alongside these industry titans,” says Dr. Obomeghie. “Horst Schulze has a winning track record; he co-founded the Ritz Carlton Hotel Company, ranked as the number one luxury hotel brand in the world, and founded the Capella Hotel Company, ranked as the number two hotel brand in the world. Leticia Proctor, Filip Boyen, and Frances Kiradjian are globally respected hospitality leaders.”
About St. Julian Hotels and Residences
St. Julian Hotels and Residences is a luxury hospitality development company based in Dallas, Texas. To learn more, visit www.StJulianResidences.com. For media inquiries, email sales@StJulianResidences.com.
Source: St. Julian Hotels and Residences
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Graham Hospitality has unveiled a new name, new logo, and new brand rollout as part of an extensive rebranding initiative aimed at modernizing guest experiences.
Press Release
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Jan 20, 2022
MIAMI, January 20, 2022 (Newswire.com)
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Graham Hospitality, a division of The Graham Companies, announced that Shula’s Hotel & Golf Club, a destination designed for both the business and leisure traveler, has changed its name to Miami Lakes Hotel on Main in a repositioning of the brand that comes as the Company seeks to create a distinctive Hotel experience for the modern traveler.
The change represents a new generation in the Hotel’s 38-year history. As one of Miami’s last independently owned properties, the new name will be synonymous with the resort’s unique history in the Town of Miami Lakes. Coach Shula’s name is a keepsake in the Town and is enshrined in the Miami Lakes Sports Hall of Fame, where he was inducted as a member of the first class in 2017. A plaque in his honor is displayed at Miami Lakes Optimist Park.
Since 1983, the Hotel has provided customized travel experiences with its resort-style amenities and family-friendly, service-oriented environment. Located in the heart of Miami Lakes, the property features 205 guest rooms and 17 suites decorated in the Florida contemporary style. The property also boasts a 45,000-square-foot athletic club offering a variety of fitness classes, eight lighted tennis courts, one outdoor basketball court, a full-size gymnasium, and a 60-yard outdoor sports field. In addition, the resort offers guests access to a championship 18-hole golf course and club.
As part of The Graham Companies’ vision for the future, the rebranding and new name will also include the namesake golf and athletic clubs, as well as the steak and sports bar-restaurant, which will be named Miami Lakes Golf Club, Miami Lakes Athletic Club, and ML Steaks+Sports. In conjunction with the brand re-launch, the Company will unveil a new website, miamilakeshotel.com, and the Company’s email addresses will migrate to @miamilakeshotel.com. The Graham Company expects all changes to take effect immediately.
“We are extremely excited about the rebranding and renaming of the Hotel and to place Miami Lakes at the forefront for the Town and our customers,” said David Healy, Vice President & General Manager of Graham Hospitality. “We hope that our customers will continue to trust in our hospitality expertise as they make lasting memories during their stay while they sleep, dine, and play at the Miami Lakes Hotel on Main.”
Positioned as one of the only full-service hotels in Miami Lakes, the property is just minutes from downtown Miami, Miami International Airport, Fort Lauderdale International Airport, and many popular sites and attractions such as South Beach, Hard Rock Stadium, and Fort Lauderdale.
The Hotel is owned and operated by the Graham family, who have been a part of Miami’s history since 1920. A decade later, the family took over a parcel of land, transforming the swampland into one of the most successful working dairy farms in Florida and later the master plan for what would become Miami Lakes. The Town is known as one of the most beautiful residential areas in South Florida, with its tree-lined streets, large estate lots, and extremely low crime rate. The community is nationally recognized as one of the best examples of unique and innovative town planning with many lakes and parks.
For several decades, the Hotel has hosted football teams, local high school reunions, and business travelers. In addition, the property is one of the premier venues for social events, meetings, and conferences, equipped with over 16,000square feet of event space.
Media Contact
Rixys Alfonso
Graham Hospitality
With a focus on a legacy of great stays, Graham Hospitality’s experienced team manages Miami Lakes Hotel on Main – a 205-room Boutique Hotel with 16,000 square feet of meeting space, Miami Lakes Golf Club, and the Miami Lakes Athletic Club, a 45,000 square foot facility. The division also oversees several dining options, including ML Steaks + Sports, the Bullpen, and Vie De France Bakery. For more information, visit miamilakeshotel.com.
Source: The Graham Companies
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Singaporean technology start-up aims to revolutionise hospitality industry in Europe one hotel property at a time
Press Release
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Oct 11, 2021
LONDON, October 11, 2021 (Newswire.com)
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Award-winning guest experience platform provider – Vouch – has announced plans to expand into global markets, with the opening of its operations in London as a gateway to the rest of Europe.
In the United Kingdom, Vouch Concierge is currently working with boutique brands Hotel du Vin and Malmaison to set up their pre-stay concierge, and with a further six properties under the Frasers Hospitality Group throughout Britain for their guest experience platforms as domestic travel in the UK surges. Vouch is also giving all UK-based hotels the opportunity to trial the platform with a free Vouch subscription from now until the end of 2021.
Vouch aims to have at least 30% of revenue coming from Europe and is setting a target of having a strong presence in at least 3 European countries by the end of 2022.
The Singapore headquartered start-up provides innovative AI-powered technology to the hospitality and travel segment.
Armed with seed funding of SGD$1.51 million (USD$1.1 million) led by Forge Ventures, the funding will be used for expansion and product development for a new category of technology for hotels: the guest experience platform.
Without needing to download an app for a short-term stay, Vouch’s guest experience platform allows guests to check-in, make room requests, order food and beverages and get instant answers to commonly asked questions, by scanning a QR code on their mobile phones. Vouch Concierge has seen wide adoption of its platform in Asia to improve productivity through the streamlining of hotel operations and providing round the clock services for guests. In attractions like museums, users can enjoy the full experience with audio tours, find out about artefacts and even play interactive games to enhance the visitor experience.
Since its launch in 2018, Vouch has rolled out its services and partnered with hospitality brands in Asia and is now looking to expand globally. Founder and CEO Joseph Ling said: “In Singapore, for example, we have covered 25% of all rooms under international groups such as Frasers Hospitality, Hyatt Hotels, Pan Pacific Hotels Group and the InterContinental Hotels Group. There is a genuine need for a solution that helps hotels improve manpower efficiency and the pandemic has accelerated this need. Our plan this year is to expand aggressively into new markets that will benefit most from a productivity platform like ours, namely Hong Kong, Macau, South Korea and the United Kingdom.”
While travel and tourism have remained low across the world due to COVID-19, Vouch Concierge aims to help businesses and consumers in these sectors cope better in a pandemic.
By incorporating Vouch into their operations, businesses can better plan for manpower requirements and avoid greater uncertainty associated with fluctuating pandemic intensity and accompanying social distancing requirements.
For more information on Vouch, visit https://www.vouchconcierge.com or email vouch@humebrophy.com
Source: Vouch Concierge
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Press Release
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updated: Oct 5, 2021
TORONTO, October 5, 2021 (Newswire.com)
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Book4Time, the global leader in spa and wellness business management solutions for the hospitality market, launches Book4Time Pay, the company’s new all-in-one payment processing platform.
Book4Time Pay provides customers with the ability to take guarantees at the time of booking, accept EMV credit/debit at point of sale, sell gift cards online, manage recurring membership billings as well as provide self-service mobile checkouts. It also comes with flat-fee pricing and no hidden or set-up fees, enabling spas to realize significant savings to the bottom line.
“The idea is to provide our clients with a complete end-to-end solution,” says Ali Mroueh, Director of Payments, Book4Time. “The release of Book4Time Pay was driven by the need for simplification. Our clients often struggle with limited IT staff and having to juggle various technologies; now they have one less vendor to work with for sales and support.”
“Book4Time is hyper-focused on empowering our spas to manage every aspect of their business within a single, highly intuitive platform,” says Roger Sholanki CEO, Book4Time. “Book4Time Pay represents a significant avenue for us to innovate and to help our clients further elevate the guest experience and drive more efficiencies and cost savings. Payments has typically been just an afterthought in the spa & wellness industry. It’s an area that’s ripe for disruption.”
To learn more about Book4Time Pay and how to help grow your wellness business with an all-in-one solution, reach out to a Book4Time Pay expert at: https://spasoftware.book4time.com/book4time-pay-contact-us.
About Book4Time
Book4Time is a global leader in spa, wellness and leisure activity management solutions for the hospitality market. As the only enterprise SaaS technology in the hospitality wellness industry, Book4Time manages the end-to-end guest experience for international hotels, resorts, casinos, golf and private member clubs located in over 85 countries worldwide.
Book4Time is the first cloud-based software for the wellness industry to provide a centralized multi-location platform. With 50+ hotel system integrations, they publish new updates every 4-8 weeks, have the industry’s highest uptime at 99.99%, support 12 languages and have LIVE 24/7 phone and email support through strategically located global customer support centres. Visit book4time.com for more information.
Media Contact:
Emily Moxley
Manager, Marketing
Phone: (905) 752-2588
Email: emoxley@book4time.com
Source: Book4Time Inc.
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The agreement sees HotelHub, a partner of CWT’s since 2014, continue to support RoomIt in its delivery of innovative hotel solutions to market.
Press Release
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updated: Jul 13, 2021
LONDON, July 13, 2021 (Newswire.com)
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HotelHub, the leading hotel technology solution provider in the business travel sector, has renewed its multi-year global contract with CWT’s hotel distribution division, RoomIt. The agreement sees HotelHub, a partner of CWT’s since 2014, continue to support RoomIt in its delivery of innovative hotel solutions to market.
RoomIt deploys HotelHub’s smart technology to help aggregate hotel content from GDS and non-GDS sources within a single intuitive web-based agent booking tool that automates the hotel-booking workflow. It is also API-integrated with CWT’s online booking tool.
The scalable solution has the capacity to adapt to dynamic market needs and content requirements, whereby CWT can configure the platform to align with the TMC’s hotel strategy as well as corporate clients’ hotel programmes.
“RoomIt is an essential part of our client offering and a core differentiator for us in the market. We are delighted to continue partnering with HotelHub and to ensure we provide clients with an exceptional hotel booking experience, whilst also strengthening our hotel sourcing and content strategy,” said Derek Sharp, Chief Operating Officer, RoomIt by CWT.
“HotelHub has enjoyed a highly successful partnership with CWT for several years supporting the TMC with global digitalisation of their hotel booking offering via the RoomIt platform. We are delighted to renew our contract for several more years and look forward to continuing to work with RoomIt, fine-tuning the solution further to support CWT’s goals and hotel strategy, particularly as business travel returns post-pandemic,” added Eric Meierhans, Chief Commercial Officer, HotelHub.
Source: HotelHub
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HotelRunner awarded Best Overall Performing Provider, a very prestigious award within the scope of Booking.com’s Connectivity Partner Achievement Awards 2020
Press Release
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updated: May 20, 2021
LONDON, May 20, 2021 (Newswire.com)
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The leading sales channel management platform and B2B network for the travel industry, HotelRunner has been awarded Best Overall Performing Provider by Booking.com, one of the world’s leading digital travel companies, a very prestigious award within Booking.com’s 2020 Connectivity Partner Achievement Awards 2020.
HotelRunner has long collaborated closely with Booking.com to increase the revenue of its property partners through digitalization. The partnership has seen HotelRunner crowned Premier Connectivity Partner for three consecutive years since its inception including 2021, Preferred IT Partner for four years before that, Top Connectivity Performer in 2018, and Connectivity Advisory Board Member for more than two years.
Despite the many pandemic-related challenges facing the hospitality and tourism industries over the last year, HotelRunner has continued to achieve extraordinary success with Booking.com, offering operational, technological, financial, and educational support to ensure their accommodation partners remained connected, continued to develop their businesses, and invested in the future of their properties.
HotelRunner exceeded every performance benchmark set, including quality of service delivered, agile support provided, increase in bookings via Booking.com, and the technology infrastructure required to integrate Booking.com APIs successfully in 2020.
Eddy Veldhuizen, Director Connectivity Partnerships at Booking.com, said “The partnership programme is the foundation of how we want to collaborate with providers and what we expect them to deliver. The partnership programme has three levels, and we are delighted that HotelRunner has been at the highest level (the Premier partnership) for many years. This means that both Booking.com and our accommodation partners are working with the best of the best. This year, more than ever, we value the dedication and hard work of HotelRunner and are glad they are committed to growing together.”
Riza Kaynak, Director of Demand Partnerships at HotelRunner, said “Our long-standing partnership with Booking.com and the dedicated and hard work of both companies, especially during the pandemic, are very valuable to us. As HotelRunner, we are thrilled and proud to receive the Best Overall Performing Provider title within the scope of Connectivity Partner Achievement Awards 2020. With the common goal of maximizing the performance of our properties on Booking.com, we ensure that all necessary technology is developed, integrated with our platform, and made available affordably, and we increase the bookings and revenues of our properties by initiating the creation of new business and integration models. As we did during the pandemic, we will continue to work shoulder to shoulder for the success of our joint properties in the future. We look forward to making a difference in the travel technology industry and reaching outstanding achievements together with Booking.com in 2021.”
Aiming to bring together the right property with the right guest audience in the right market and increase the revenues of the accommodation properties on its platform exponentially with every innovation it undertakes, HotelRunner continues to lead the industry thanks to its successful strategic partnership with Booking.com. As a result, they serve as the pioneers of the industry in terms of connectivity experience, powerful technology, and innovation.
HotelRunner, which has more than 41,000 accommodation partners from 193 countries of all types and sizes including boutique hotels, chain and resort hotels, bed and breakfasts, bungalows, and villas, will continue to increase the revenues and performances of its joint properties and the newly acquired ones. The company will cooperate closely with Booking.com to make sure the accommodations get the most out of this partnership in the upcoming period.
Hosting more than 50 million transactions a day, offering an end-to-end platform to the entire world with dozens of different products and services, and working to offer new markets to both property and agency partners with strategic partnerships, HotelRunner will continue to lead the industry globally with innovative products and features and new acquisitions, which will be announced in the upcoming period.
Media Contact:
Andrew Gogus
media@hotelrunner.com
About HotelRunner
HotelRunner is a distribution platform and B2B network for accommodations and travel agencies to find, contract, connect and transact with each other online. HotelRunner has more than 41,000 accommodation partners and over 150 travel agency partners from 193 countries. HotelRunner is a Booking.com Premier Connectivity Partner, Expedia Elite Partner, Airbnb Software Partner, Agoda Innovative Supplier, Oracle Gold, Hotelbeds and Google Hotel Ads Partner.
About Booking.com
Founded in 1996 in Amsterdam, Booking.com has grown from a small Dutch startup to one of the world’s leading digital travel companies. Part of Booking Holdings Inc., Booking.com’s mission is to make it easier for everyone to experience the world whenever it’s safe to do so again. By investing in the technology that helps take the friction out of travel, Booking.com seamlessly connects millions of travelers with memorable experiences, a range of transportation options and incredible places to stay – from homes to hotels and much more. As one of the world’s largest travel marketplaces for both established brands and entrepreneurs of all sizes, Booking.com enables properties all over the world to reach a global audience and grow their businesses. Booking.com is available in 44 languages and offers more than 28 million total reported accommodation listings, including more than 6.4 million listings of homes, apartments and other unique places to stay. No matter where you want to go or what you want to do, Booking.com makes it easy and backs it all up with 24/7 customer support.
Source: HotelRunner
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The Expedia Group Connectivity Partner Program recognizes and rewards top connectivity providers for maintaining high-quality software connections and helping lodging partners grow their business on the Expedia Group platform.
Press Release
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updated: May 12, 2021
London, United Kingdom, May 12, 2021 (Newswire.com)
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HotelRunner, the leading sales channel management platform and B2B network, today announced their status as an Elite Connectivity Partner, the highest designation available in Expedia Group’s Connectivity Partner Program. The Expedia Group Connectivity Partner Program recognizes and rewards top connectivity providers – including channel managers, property management systems, central reservation systems, and other vendors – for maintaining high-quality connections and helping lodging properties grow their business on the Expedia Group marketplace.
The Elite Connectivity Partner designation is awarded to an exclusive group of top-performing Expedia Group lodging connectivity providers, including HotelRunner, who offer the highest-quality software connection to the Expedia Group marketplace and comprehensive functionality. To be eligible for Elite status, Expedia Group connectivity providers are rated on several technical and performance criteria to ensure they:
“Our Elite Connectivity Partners are leaders in the industry, demonstrated by their innovative technology efforts to ensure their customers perform on our platform and clear understanding of traveler needs,” said Lisa Chen, Vice President, Global Lodging Connectivity & Solutions at Expedia Group. “By choosing to work with HotelRunner, an Elite Connectivity Partner, lodging property managers can be confident in a high-quality connection that will empower them to perform at their best in the Expedia Group marketplace.”
Ali Beklen, Founder and Managing Partner at HotelRunner, said, “We have a strong and constantly growing partnership with the Expedia Group. On our way to achieving the Elite Connectivity Partner status, we have connected thousands of new properties to the Expedia Group, and we have worked together intensively to ensure that our existing properties benefit from this partnership in the best and most beneficial way possible for them. We are delighted that HotelRunner’s state-of-the-art technology and dedicated team have been awarded by the Expedia Group worldwide. We look forward to the new era of our partnership.”
As a part of its designation, HotelRunner will work together with the Expedia Group on the new tools and features, also piloting and integrating these into their platform. HotelRunner team will also work directly with Expedia Group’s leadership team, providing feedback and helping shape future products and technology solutions.
Media Contact
Andrew Gogus
media@hotelrunner.com
About HotelRunner
HotelRunner is a distribution platform and B2B network for accommodations and travel agencies to find, contract, connect and transact with each other online. HotelRunner has more than 41,000 accommodation partners and over 150 travel agency partners from 193 countries. HotelRunner is Expedia Elite Partner, Booking.com Premier Connectivity Partner, Airbnb Software Partner, Agoda Innovative Supplier, Oracle Gold, Hotelbeds, and Google Hotel Ads Partner.
About Expedia Group
Expedia Group, Inc. companies power travel for everyone, everywhere through our global platform. Driven by the core belief that travel is a force for good, we help people experience the world in new ways and build lasting connections. We provide industry-leading technology solutions to fuel partner growth and success, while facilitating memorable experiences for travelers. The Expedia Group family of brands includes: Expedia®, Hotels.com®, Expedia® Partner Solutions, Vrbo®, Egencia®, trivago®, Orbitz®, Travelocity®, Hotwire®, Wotif®, ebookers®, CheapTickets®, Expedia Group™, Media Solutions, Expedia Local Expert®, CarRentals.com™, and Expedia Cruises™.
Source: HotelRunner
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