The Zacks Analyst Blog Highlights: Starwood Hotels & Resorts Worldwide, Marriott International, Exxon Mobil, Chevron and NIKE

For Immediate Release

Chicago, IL – March 28, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Starwood Hotels & Resorts Worldwide Inc. (HOT), Marriott International (MAR), Exxon Mobil Corp (XOM), Chevron Corp (CVX) and NIKE, Inc. (NKE).

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Here are highlights from Thursday’s Analyst Blog:

Dow 30 Stock Roundup

The Dow moved lower during the holiday shortened week primarily due to the Brussels terror attacks and another decline in crude prices. The index gained on Monday following gains in healthcare and telecom stocks and some high profile mergers. The index declined on Tuesday following the horrific terrorist attack in Brussels.

The index moved lower on Wednesday following losses in energy and materials stocks due to the decline in crude prices. The Dow has lost 0.4% over the first three trading days of the week.

Last Week’s Performance

The index gained only 0.1% on Monday following gains in healthcare and telecom stocks. A couple of high profile mergers also boosted investors’ sentiment. Shares of Starwood Hotels & Resorts Worldwide Inc. (HOT) increased by 4.5% after the company gave its assent to be acquired for $13.6 billion or $85.36 per share in cash by Marriott International (MAR).

The index declined by 0.2% on Tuesday following the horrific terrorist attack in Brussels. The deadly terror attack had a negative impact on travel and consumer staples stocks. The Dow Jones Transportation Average (DJT) fell 0.8%. U.S. crude price also slumped following the Brussels attack. Shares of JPMorgan Chase fell 0.4%.

Financial services stocks stumbled yesterday after low interest rates in the U.S. and negative interest rates in Europe raised concerns about banks’ balance sheets. Dow component, Goldman Sachs declined more than 1.3% and was the biggest loser in the blue-chip index.

The index lost 0.5% on Wednesday following losses in energy and materials stocks due to a decline in crude prices. The U.S. Energy Information Administration (EIA) reported on Wednesday that U.S. commercial crude oil inventories rose 9.4 million barrels to 532.5 million for the week ended March 18. This was higher than the increase of 8.8 million barrels reported by the American Petroleum Institute (API) a day earlier.

As a result, Dow components Exxon Mobil Corp (XOM) and Chevron Corp (CVX) fell 0.4% and 2% respectively. Shares of NIKE, Inc. ( NKE) fell 3.8%, emerging as the largest loser for the Dow. Shares of NIKE declined after posting lower-than-expected revenues. Meanwhile, new home sales rose by 2% from January to 512,000 in February, in line with the consensus estimate.

Components Moving the Index

NIKE Inc. ’s third-quarter earnings per share of 55 cents surged nearly 22% year over year and outpaced the Zacks Consensus Estimate of 48 cents. The bottom-line growth was mainly aided by top-line growth, a lower tax rate and a reduced share count.

Revenues of this sportswear retailer rose 8% to $8,032 million in the quarter. However, the figure fell short of the Zacks Consensus Estimate of $8,201 million due to the impact of currency headwinds. On a currency neutral basis, sales jumped 14%. Revenues of the company’s NIKE Brand increased 15% on a currency neutral basis to $7,567 million.

Management reaffirmed its outlook for fiscal 2016, anticipating revenue growth in the mid single-digit range, with gross margin expansion of about 50 bps. For the fourth quarter of fiscal 2016, the company anticipates revenues to grow in the mid single-digit range. Gross margin is projected to be flat to slightly up compared to the prior year.

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STARWOOD HOTELS (HOT): Free Stock Analysis Report
 
MARRIOTT INTL-A (MAR): Free Stock Analysis Report
 
EXXON MOBIL CRP (XOM): Free Stock Analysis Report
 
CHEVRON CORP (CVX): Free Stock Analysis Report
 
NIKE INC-B (NKE): Free Stock Analysis Report
 
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