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Before today's opening bell, Marriott International (MAR – 38-5/16) posted third-quarter earnings of 43 cents per share, exceeding brokers' forecasts by a penny per share. According to I/B/E/S International, it was the company's sixth straight positive earnings surprise. MAR also announced that it sold four hotels for $274 million to a joint venture it created with Blackacre Capital Management.
In response to this news, MAR has advanced by more than three percent this morning to overtake its 10-day and 20-week moving averages. The security is now sitting just beneath its 20-day trendline.
According to Multex, the Street is showing some skepticism toward the equity. Out of 16 analysts covering MAR, five rate it as a "hold," while one gives it a "moderate sell" rating. Any upgrades as a result of today's earnings report could bolster the shares.