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Stock Market & Financial Investment News

News Breaks
July 23, 2014
11:24 EDTPCLN, EXPE, AWAY, TRIPIndustry data points to strong Q2 for online travel names, says Piper Jaffray
Piper Jaffray said its analysis of travel industry data and web and mobile traffic point toward a strong Q2 for online travel companies. Piper noted that web-traffic was generally favorable compared to its estimates for both Priceline (PCLN) and Expedia (EXPE), but added that traffic being driven to Priceline's Booking.com continues to push Expedia traffic down. The firm maintains Overweight ratings on Priceline, TripAdvisor (TRIP) and HomeAway (AWAY) and a Neutral rating on Expedia.
News For AWAY;PCLN;TRIP;EXPE From The Last 14 Days
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March 31, 2015
11:14 EDTEXPEOptions with increasing implied volatility
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11:12 EDTPCLN, EXPEPriceline rises after Stifel says European macro risks already priced in
The shares of online travel agency Priceline (PCLN) are advancing in a down market after Stifel upgraded the stock, saying that the European macro economic risks faced by the company are priced into the shares at current levels, while the stock's valuation is compelling. WHAT'S NEW: The macro economic risks that Priceline faces in Europe are already priced into the stock, Stifel analyst Scott Devitt wrote in a note to investors earlier today. Following the stock's recent underperformance spurred by this risk and worries about the stock's valuation, the shares' risk/reward ratio has become attractive, Devitt believes. If the economic situation in Europe improves, Priceline's stock could rise, Devitt said. Citing Priceline's estimated 5% 2015 free cash flow yield, its newly initiated $3B share repurchase program, and its consistent profitable organic growth, the analyst wrote that the company has strong fundamentals and favorable shareholder policies. Moreover, the combination of Priceline's leverage to improvement in Europe, its leading position in its industry, and its compelling valuation make the company unique among mature, growing large-cap Internet companies, according to the analyst, who set a $1,400 price target on the shares. OTHERS TO WATCH: Other companies in Priceline's sector include Expedia (EXPE) and Orbitz (OWW). PRICE ACTION: In mid-morning trading, Priceline rose 2% to $1,172.
10:01 EDTAWAYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: EVERTEC (EVTC) initiated with a Buy at Topeka... Express (EXPR) initiated with a Buy at Brean Capital... Flexion (FLXN) initiated with a Buy at MLV & Co.... HomeAway (AWAY) initiated with a Long-Term Buy at Hilliard Lyons... IAC (IACI) initiated with an Outperform at JMP Securities... INC Research (INCR) initiated with an Outperform at Raymond James... L Brands (LB) initiated with a Hold at Brean Capital... Masonite (DOOR) initiated with an Equal Weight at Stephens... MaxPoint Interactive (MXPT) initiated with a Buy at Deutsche Bank... NGL Energy Partners (NGL) initiated with an Equal Weight at Barclays... Neovasc (NVCN) initiated with an Outperform at Northland... New York & Co. (NWY) initiated with a Buy at Brean Capital... Pacific Biosciences (PACB) initiated with an Equal Weight at Stephens... Rice Midstream (RMP) initiated with an Outperform at Wells Fargo... Sensient (SXT) initiated with a Buy at BB&T... Skullcandy (SKUL) initiated with a Buy at Wunderlich... Ultragenyx (RARE) initiated with a Buy at MLV & Co.... Virgin America (VA) initiated with a Hold at Stifel... ZAGG (ZAGG) initiated with a Buy at Wunderlich.
10:01 EDTPCLNOn The Fly: Analyst Upgrade Summary
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09:18 EDTAWAYHomeAway initiated with a Long-Term Buy at Hilliard Lyons
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07:06 EDTPCLNPriceline upgraded to Buy from Hold at Stifel
As previously reported, Stifel upgraded Priceline to Buy from Hold. The firm views risk/reward as attractive given recent underperformance related to European macro risk and free-cash-flow valuation. Stifel believes reset expectations provide provide potential upside from positive surprises and established a $1,400 price target.
06:24 EDTPCLNPriceline upgraded to Buy from Hold at Stifel
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March 27, 2015
13:32 EDTEXPESabre in talks for non-U.S. acquisition in travel network business
In a regulatory filing, Sabre (SABR) reports that the Hawaii Supreme Court ruled this month that Expedia's (EXPE) Travelocity is not subject to Hawaii’s transient accommodation tax but is subject to its general excise tax. The court further ruled that an income splitting provision that benefits Travelocity applies to the general excise tax. Sabre initially paid $34M in 2013 in order to appeal the matter and expects to receive a majority of this amount back as a result of this ruling. The company also reports that as of the date hereof, Sabre is involved in active negotiations for a potential non-U.S. acquisition within the travel network business segment for which it is possible that it will enter into an agreement in Q2. If consummated, it anticipates that the acquisition would close in Q2/Q3 and require approximately $500M in funds. With respect to its consolidated income statement for the year ended December 31, on a pro forma basis, it expects the acquisition would have resulted in a revenue increase of approximately $250M and would have resulted in a modest increase in adjusted EBITDA. In 2015, it expects the transaction would be approximately neutral to adjusted EPS, and would have a positive impact on adjusted EPS thereafter.
March 26, 2015
10:04 EDTAWAYOn The Fly: Analyst Initiation Summary
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March 25, 2015
17:37 EDTEXPEExpedia, Orbitz receive second information request from DoJ
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16:08 EDTAWAYHomeAway initiated with an Outperform at Oppenheimer
Target $37.
March 20, 2015
07:00 EDTPCLNPriceline bookings tracking towards upper end of guidance, says Cantor
After conducting checks on global search traffic to Booking.com and other Priceline brands through mid- March, Cantor thinks the checks suggest that the company's bookings are tracking towards the upper end of management's guidance this quarter. The firm keeps a $1,360 price target and Buy rating on the shares.
March 18, 2015
06:02 EDTPCLNPriceline shares inexpensive 'by many measures,' says Piper Jaffray
Piper Jaffray says its conclusion from several valuation analyses is that shares of Priceline are inexpensive "by many measures." When compared to a comp group of hotel companies, the stock trades at a "material discount," Piper states. It believes shares are worth in excess of its $1,375 price target. The firm reiterates an Overweight rating on the name.
March 17, 2015
05:28 EDTAWAYPayByGroup announces partnership with HomeAway Software
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