Marriott stock surges after upbeat quarterly results

• Marriott (MAR.US) stock jumped more than 5.0% during today's session after the hotel operator posted better than expected quarterly results. 
• Company earned $1.30 per share, well above analysts’ estimates of 0.99 cents a share. In the prior-year quarter, the company had reported adjusted earnings of 12 cents per share. 
• Quarterly revenues of $4,446 million topped Wall Street estimates of $3,859 million as occupancy rates increased amid a rise in vaccinations. 
• Revenue per available room, or RevPAR, surged 124.5% worldwide on a comparable, systemwide, constant basis. 
• The company plans to continue adding more rooms to its portfolio, having added 20,440 rooms in the previous quarter. For 2022, Marriott expects net rooms growth of 3.5%-4%.
• CEO Anthony Capuano said the company “could begin returning cash to shareholders later in 2022”, assuming there is no great setback in the global recovery. 

Marriott (MAR.US) stock launched today's session with a bullish price gap and managed to break above the upper limit of the 1:1 structure and upper boundary of the triangle formation. Price reached a new all-time high at $181.38 after which a small pullback occurred. The nearest support lies at $176.75. Source: Station5