By What Happened:
Shares of hospitality company Travel + Leisure (NYSE:TNL) fell 8.4% in the morning session after the company reported second-quarter earnings results. The number of tours it conducted fell short of estimates, but it seemed to benefit from some pricing this quarter given its revenue only slightly missed. On the other hand, EPS came in ahead. Overall, it was a mixed but weaker quarter for the company.
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What is the market telling us:
Travel + Leisure’s shares are somewhat volatile and over the last year have had 9 moves greater than 5%. In context of that, today’s move is indicating the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Travel + Leisure is up 11.5% since the beginning of the year, and at $45.45 per share it is trading close to its 52-week high of $49.87 from July 2024. Investors who bought $1,000 worth of Travel + Leisure’s shares 5 years ago would now be looking at an investment worth $980.17.
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