Skip to content
(Bloomberg) -- The last thing hotel owners need is foul-smelling algae eating into profits.Yet that’s what happened at the Southernmost Beach Resort in Key West, where a “seaweed outbreak” cost landlord Pebblebrook Hotel Trust an estimated $850,000 in food and beverage sales, Chief Financial Officer Raymond Martz said on a quarterly earnings call Friday.The seaweed in question was identified as sargassum by Michael Bellisario, an analyst at Robert W. Baird & Co. The slimy, brown algae, which is said to smell like rotten eggs, has also put a dent in Cancun’s tourism business.Pebblebrook’s shares were down 3% at 11:48 a.m. New York time, as softening business and leisure travel trends led the company to lower its full-year guidance.To contact the reporter on this story: Patrick Clark in New York at [email protected] contact the editors responsible for this story: Craig Giammona at [email protected], Christine MaurusFor more articles like this, please visit us...
Holding a stock through earnings can be highly profitable. It can also be calamitous. At times though, a stock report's aftermath can offer investors a stronger risk-adjusted purchase when the news and reaction align in just the right way. And right now, Tesla Motors (NASDAQ:TSLA), PayPal (NASDAQ:PYPL) and Chipotle (NYSE:CMG) are stocks to buy following earnings after cheers from Wall Street.We'd like to believe otherwise, but how a stock reacts to earnings is a crapshoot at best. For one, there's broader market sentiment and perception to consider. And of course earnings on an absolute basis or results versus consensus and whisper views, as well as guidance from the company are factors every stock faces.All told, there's a lot going on with a company's earnings report. What's more, knowing which of these items or combined influences will hold the most weight for any given quarter is an elusive and losing battle when...
Brazil's state-run oil company Petroleo Brasileiro SA is studying exiting its stake in Braskem SA via a share offering, an executive said on Friday, the latest in a series of proposals to separate itself from the petrochemical firm. Anelise Lara, head of Petrobras' downstream division, divulged the potential share offering, which she said was being considered alongside more traditional M&A options, at a press conference after the company's third quarter results. Petrobras, as the company is widely known, has long been trying to reduce its stake in Braskem as part of a wider push to sharpen its focus on offshore oil production....
Investors cheered a significant cut in production costs at Brazil's state-run oil firm Petrobras on Friday, sending shares in the company soaring 4% in morning trade, their biggest intraday gain in more than a month. In its third-quarter results released on Thursday night, the company said production costs in a key offshore oil area known as the "pre-salt" fell 20% from the previous quarter to around $5.03 per barrel. Analysts at Banco BTG Pactual SA called the production cost figures "impressive," adding that the firm's earnings before interest, tax, depreciation and amortization beat their estimates by 13%....
The less Trump says on markets and the economy, the better....
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios......
Intel blasted past a 53.60 buy point Friday in huge volume, giving a lift to the major indexes. Intel reported slim earnings and sales gains late Thursday, defying forecasts for a decline. Chip giant also gave bullish guidance. INTC may not be leading the chip industry but it's good news for the group....
