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Marriott, PayPal, Amazon Grab Fresh 52-Week Highs — Here's What's Behind It

Several marquee stocks are hitting 52-week highs on Monday and here is a look at what's driving these gains.

Marriott

Shares of Marriott International ( MAR - Get Report) were rising to more than $122 per share in midday trading on Monday as travel industry data continues to be robust.

Consumer spending on travel, such as transportation, recreation, food services and accommodations, jumped at an annual rate of 2.9% in the third quarter, compared to a 0.2% increase in the second quarter of 2017.

Spending by international travelers in the U.S. rose at an annual rate of 6.3% in the third quarter, effectively doubling the 2.3% growth in overall U.S. goods and services exports last quarter.

Additionally, an estimated 28.5 million passengers will travel on U.S. airlines during the 12-day Thanksgiving air travel period, representing a 3% jump from 2016, airline trade organization Airlines for America (A4A) said Wednesday.

Marriott will report third-quarter earnings after the market close Tuesday.

PayPal

Shares of the online financial services platform PayPal ( PYPL - Get Report) have been on a tear recently, jumping more than 12% in the past month alone on the heels of a stronger-than-expected third quarter.

Shares of PayPal were again rising on Monday, climbing more than 1.2% to $74 per share.

PayPal has been busy solidifying new deals to open up its platform to others such as Facebook (FB - Get Report) and Baidu (BIDU - Get Report) , and its online payments platform Venmo continues to dominate, PayPal's CEO Dan Schulman told TheStreet.

"We have seen a lot of services come into the market and Venmo continues to exhibit very strong growth -- I think we will become increasingly differentiated." Schulman added that there is a very "viral" component to using Venmo that competing services probably lack.

Amazon.com

As if the e-commerce giant couldn't get any more powerful, shares of the Jezz Bezos' Amazon (AMZN - Get Report) have surged more than 12% in the past month, aided by a strong third-quarter earnings beat.

Shares of Amazon were also rising again on Monday to put the stock at roughly $1,120 per share.

In its third quarter, Amazon posted adjusted earnings of 52 cents per share, trouncing consensus estimates of 3 cents per share, according to analysts surveyed by Thomson Reuters. Revenue climbed 34% year-over-year to $43.7 billion and beat analysts' estimated $41.5 billion.

The company also gave upbeat guidance for its seasonally big fourth quarter, saying it expects revenue to come in between $56 billion and $60 billion, compared to consensus estimates of $54.2 billion.

Facebook is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells FB? Learn more now.

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