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Hyatt Hotels profit rises 11 percent as it trims costs
Feb 16


Editors Note Updates throughout.

CHICAGO (AP) _ Hyatt's profit rose 11 percent in its most recent quarter as the hotel trimmed costs.

The Chicago company, which also runs the Andaz hotel brand, reported fourth-quarter net income of $41 million, or 31 cents per share, in the last three months of 2016. It had net income of $37 million, or 26 cents per share, in the same period the year before. Adjusted earnings came to 29 cents per share, beating the 24 cents per share analysts expected, according to Zacks Investment Research.

Revenue fell 2 percent to $1.09 billion in the period, missing Wall Street's forecast of $1.11 billion.

For the year, the company reported profit of $204 million, or $1. 2 per share. Revenue was reported as $4.43 billion.

Shares of Hyatt Hotels Corp. were unchanged before the stock market opened Thursday. The stock has risen about 39 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on H at https://www.zacks.com/ap/H

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Keywords: Hyatt Hotels, Earnings Report


By The Associated Press, Copyright 2017

Simmons Hanly Conroy files lawsuits against drug companies over opioids marketing

    NEW YORK – Simmons Hanly Conroy, one of the nation’s largest law firms focused on consumer protection and mass tort actions, has filed lawsuits on behalf of New York’s Broome and Erie counties against pharmaceutical companies and physicians over what is being called aggressive and fraudulent marketing of prescription opium-like painkillers (opioids) that has led to a drug epidemic in the counties.
    In complaints filed Feb. 1 in the New York Supreme Court, the counties seek relief including compensatory and punitive damages for the millions of dollars they spend each year to combat the public nuisance created by the drug companies’ deceptive marketing campaign that misrepresents the safety and efficacy of long-term opioid use. The lawsuits follow a similar, ongoing action filed by Simmons Hanly Conroy in August 2016 on behalf of Suffolk County, N.Y.

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