Rodman & Renshaw Comments On Marriott Form 10

According to Rodman & Renshaw, Marriott International MAR filed a 249-page Form 10 detailing the spinout of its timeshare business into a separately traded company to be called Marriott Vacations Worldwide Corporation (MVWC). Rodman & Renshaw said that it has spent the past several days poring over the filing and have prepared this Investors Guide to the spinout which highlights the filing's most salient points. “Our analysis of the filing has not changed our outlook for Marriott. We are maintaining our estimates and Market Perform rating. Nor are we issuing an investment opinion for the spinout.” Marriott International closed yesterday at $37.55.