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Expedia, Inc. latest news:
TripAdvisor soars 20% higher after earnings show bullish forecast
TripAdvisor Inc. shares zoomed 20% higher Wednesday afternoon on a stronger-than-expected forecast for the current year. In a fourth-quarter earnings report, TripAdvisor revealed a loss of $84 million, or 60 cents a share, on sales of $321 million, up from $316 million a year ago. The loss was mostly attributable to a $73 million charge related to new tax laws; after stripping that and other one-time costs out, TripAdvisor reported earnings of 6 cents a share, down from 16 cents a share a year ago. Analysts on average expected adjusted earnings of 14 cents a share on sales of $309 million. Excitement seemed to stem from TripAdvisor's forecast for the current year, which called for adjusted Ebitda to be flat, while analysts assumed it would continue to fall. "We believe our addressable market opportunity, our unique competitive position and our growth strategy position us to return to double-digit revenue growth and adjusted EBITDA margins in excess of what we have operated to over the past couple of years," executives said in prepared remarks. TripAdvisor shares rose to more than $48 in after-hours action, after closing with a 2.1% gain at $40.72. The stock had been damaged amid an advertising war with rivals Expedia Inc. and Priceline Group Inc. , falling 22% in the past year as the S&P 500 index gained 13.9%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Nvidia and Skechers rise while FedEx and Expedia tumble
Nvidia and Skechers rise in U.S. trading while FedEx and Expedia slump
Priceline, TripAdvisor stocks sink after Expedia earnings fall short
Shares of online-travel businesses Priceline Group Inc. and TripAdvisor Inc. are down 2.6% and 1.9%, respectively, in premarket trading Friday after Expedia Inc. reported weaker-than-expected earnings and delivered a disappointing outlook for the full year ahead. Expedia said it would be investing heavily in marketing and working to increase its hotel inventory. All three companies have discussed ramps in ad spending in recent months. Expedia shares are down 15% in premarket trading. TripAdvisor is due to report December-quarter results on Feb. 14, while Priceline is set to report on Feb. 27. TripAdvisor shares are down 24% in the past 12 months, compared with a 12% gain for Priceline shares. Expedia's stock is little changed over that time, as the S&P 500 has gained 12%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Expedia Inc Reports Quarterly Adjusted EPS $0.84ââ
Expedia Inc(EXPE): * QTRLY REVENUE $2,319.2 MILLION VERSUS $2,092.8 MILLION LAST YEAR. * QTRLY ROOM NIGHT GROWTH 15 PERCENT.
UPDATE 1-Expedia quarterly profit misses as costs jump
Feb 8 (Reuters) - U.S. online travel services company
Expedia Inc missed analysts' quarterly profit estimate
on higher marketing expenses, sending its shares tumbling 15
percent in after-hours trading on Thursday.
Expedia stock plunges after wide earnings miss
Expedia Inc. shares dove 15% in late trading Thursday after the online travel website revealed earnings well below expectations. Expedia reported fourth-quarter profit of $55.2 million, or 35 cents a share, on sales of $2.32 billion, up from $2.09 billion a year ago. After adjustments for stock-based compensation and other effects, Expedia claimed earnings of 84 cents a share, down from $1.17 a year before. Analysts on average expected adjusted earnings of $1.15 a share on sales of $2.36 billion. Chief Executive Mark Okerstrom stressed that changes Expedia has made were beginning to pay off in 2018. "Over the past several months, we have made key organizational changes, aligned our
company around common objectives and began executing on a new direction aimed at accelerating the geographic expansion of our global travel platform," he said in Thursday's announcement. Shares closed at $123.03 Thursday, then plunged to less than $105; Expedia's 52-week intraday low price in regular trading is $115.55.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Uber names new COO
Uber Technologies Inc.'s long search for a chief operating officer has come to an end. Barney Harford, the former CEO of Orbitz, will take on the Uber COO job, he said on Twitter Wednesday. Harford worked at Expedia with Uber's new CEO, Dara Khosrowshahi, after Expedia Inc. acquired Orbitz in 2015. He has been working as a senior advisor at Uber since October, according to Bloomberg. Uber is trying to change up its corporate culture after a series of scandals. Founder Travis Kalanick was ousted from the CEO job earlier this year. Uber was dealt a disappointing blow earlier Wednesday after European regulators deemed the company a transit service, which could open the firm up to more regulations. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Cowen analysts name Priceline among their 'best ideas' for 2018
Share of Priceline Group Inc. rose 0.2% in midday trading after analysts at Cowen and Co. dubbed the stock one of their "best ideas" for 2018. The analysts, led by Kevin Kopelman, think there are several misconceptions on Wall Street about Priceline's stock, which has fallen 7.6% in the last three months. Kopelman doesn't think that Priceline is moving away from Alphabet Inc.'s Google with its ad spending, and he views the company as Google's "travel wingman," even as the search platform changes its ad mix. "While there are some negatives for Priceline in the mix shift within Google results from traditional search ads to meta-search ads (i.e. "Hotel Finder"), we think Priceline is structurally positioned to continue to win on the channel -- versus other online-travel agencies and the hotel chains -- given Priceline's leading conversion rates," he wrote. Kopelman also thinks that Priceline "pulled away from the competition" in the 2017 fiscal year, posting stronger growth in contribution profit than rival Expedia Inc. . Priceline shares have gained 18% so far this year, while Expedia's stock is up 4.7%. The S&P 500 has risen 19% in that time. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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