SOND - Travel and leisure stocks catch a bid as earnings season approaches

2023-07-10 13:40:49 ET

The broad travel and leisure sector outperformed in mid-day trading on Monday as investors showed some renewed confidence in the consumer discretionary group just ahead of the second quarter earnings season. The gains for travel and leisure stood out, with broad market sentiment mixed ahead of a busy week that includes the CPI print and a host of Federal Reserve speakers.

The leadoff hitter in the travel and leisure sector will be Delta Air Lines ( DAL ), with its trip into the earnings confessional scheduled for July 13. Last week, CEO Ed Bastian pointed to sustained travel demand during his talk at an investor event and said airline customers are still financially healthy. "Everyone is worried about the consumer, our customer is quite strong," he noted.

Online travel stocks broke higher, led by Sabre Corporation ( SABR ) +7.90% , Lindblad Expeditions Holdings ( LIND ) +4.37% , Booking Holdings ( NASDAQ: BKNG ) +2.75% , and Expedia ( EXPE ) +2.00% . The hotel sector also got a hard look from investors, with Sonder Holdings ( SOND ) +6.44% , Hyatt Hotels Corporation ( H ) +2.90% , and Marriott International ( MAR ) +2.45% .

In the casino sector, notable advancers included Full House Resorts ( FLL ) +4.39% , Wynn Resorts ( WYNN ) +4.10% , Melco Resorts & Entertainment ( MLCO ) +4.09% , MGM Resorts International ( MGM ) +3.67% , and PENN Entertainment ( PENN ) +2.80% .

Investors also bid up fitness stocks. Gainers included F45 Training Holdings ( FXLV ) +8.92% , Xponential Fitness ( XPOF ) +7.35% , and Planet Fitness ( PLNT ) +4.11% .

More on travel stocks:

• Airlines scramble: JetBlue shifts focus to Spirit Airlines, American Airlines appeals DOJ ruling
• Marriott International: Continued Growth In RevPAR And Attractive P/E Ratio
• Airline stocks ripped big gains in the first half - can the rallies extend?

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