Shares of the Wyndham Worldwide Corp. jumped last Friday after the hotel and timeshare company affirmed its second quarter guidance. The company also announced that its Chief Financial Officer Virginia Wilson is stepping down.

Wyndham shares rose from $1.31 to $12.51 in afternoon trading. The stock traded between $2.55 and $20.96 in the past 52 weeks.

Earlier Friday, Wyndham said that it forecasts second-quarter earnings in the range of 36 to 41 cents per share. Thomson Reuters analysts expect a profit of 37 cents per share.

The updated outlook followed Wyndham’s announcement that Wilson will be leaving the company in the third quarter to pursue other interests. The company is still searching for a person who will fill her position.

“We think that management took this opportunity to reiterate guidance to assure investors that her departure was not tied to expected results for the quarter,” said Robert LaFleur of the Susquehanna Financial Group in a note to investors.

"While we think that investors may be jittery with the CFO's departure, we believe they will likely find comfort in the reiteration of guidance," said FBR Capital Markets analyst C. Patrick Scholes.”

Source: Boston.com