Wyndham 3Q Profit Down 27%, Sees 4Q Earnings Above Views
Wyndham Worldwide Corp.'s (WYN) third-quarter profit decreased 27% as the company's hotel and timeshare businesses continued to suffer amid broad industry weakness. The company also expects fourth-quarter earnings of 35 cents to 38 cents a share. Analysts polled by Thomson Reuters expected 32 cents. It also reaffirmed its 2009 earnings forecast. Shares were up 1.9% to $17 in premarket trading as the third-quarter results edged forecasts. The stock has more than doubled this year.