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Stock Market & Financial Investment News

News Breaks
August 7, 2014
10:39 EDTCTRP, PCLNCtrip surges after increasing ties to Priceline
Shares of Chinese online travel agency Ctrip.com (CTRP) are jumping after the company expanded its partnership with Priceline (PCLN) and received a $500M investment from the U.S. online travel giant. WHAT'S NEW: Ctrip and Priceline last night announced that under an expanded agreement Ctrip's customers will be able to access all of Priceline's accommodations outside of Greater China, while Priceline's customers will be able to access Ctrip's over 100,000 accommodations within Greater China. Additionally, Priceline and Ctrip will offer their respective hotel inventory to each other on an enlarged scale with more favorable partnership terms, including an agreement to enhance promotional efforts, the companies said. Meanwhile, Priceline will invest $500M in Ctrip through a convertible bond and Ctrip has given Priceline permission to buy Ctrip's shares on the open market. As a result, Priceline will be able to obtain a stake of up to 10% in Ctrip, the companies reported. ANALYST REACTION: A number of analysts were very upbeat on Ctrip's outlook following the news. In a note to investors today, Oppenheimer analyst Ella Ji wrote that the new deal increases Ctrip's access to Priceline's worldwide inventories and offers more cross-promotion opportunities to Ctrip. The Chinese company's expanding overseas inventory will further enhance its leadership position in China, according to Ji, who kept an Outperform rating on Ctrip. Similarly, Fawne Jiang, an analyst at Brean Capital ,wrote that the deal further enhances Ctrip's leadership position in the Chinese online travel sector. The analyst continues to recommend investing in the stock and sees it as a core holding in the China Internet sector. Jiang kept a $74 price target and Buy rating on the shares. Meanwhile, research firm CLSA responded to the news by upgrading Ctrip two notches, to Buy from Underperform. The firm now has a $78 price target on the shares. PRICE ACTION: In mid-morning trading, Ctrip jumped 11.8% to $67.60 and Priceline gained 1.2% to $1296.44.
News For CTRP;PCLN From The Last 14 Days
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September 23, 2014
10:17 EDTCTRPCTA president sees Chinese spending $155B overseas this year, China Daily says
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September 22, 2014
12:11 EDTPCLNTripAdvisor sinks after data breach at just acquired unit
Shares of TripAdvisor (TRIP) are falling after the company's Viator unit reported today that it had experienced a data breach. TripAdvisor operates websites with information about travel destinations and flights. Viator, whose acquisition by TripAdvisor closed in August, features more than 20,000 bookable tours and attractions and more than 600,000 reviews, photos, and videos submitted by travelers, TripAdvisor has stated. WHAT'S NEW: Viator stated that it was informed on September 2 that unauthorized charges had been made on a number of its customers' credit cards. The data breach that the unit experienced could affect payment card data that was used to make bookings through the unit's websites, according to Viator. Moreover, customers' email addresses and their passwords and user names for Viator may have also been compromised. About 880,000 customers may have had their payment card information compromised, while about 560,000 customers' Viator account information and e-mail addresses may have been affected, the unit reported. WHAT'S NOTABLE: The breach at Viator comes in the wake of large data breaches at a number of bellwether companies in recent months, including JPMorgan (JPM) and Home Depot (HD). Late last year tens of thousands of payment card data was stolen from Target (TGT). PRICE ACTION: In late morning trading, TripAdvisor sank 5.5% to $93. Others names in the online travel space are falling, with Priceline.com down 3% and Expedia down 2%. :the
September 10, 2014
08:34 EDTCTRPCtrip.com confirms removal of hotel listings from Qunar, Marbridge Daily says
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September 9, 2014
13:58 EDTPCLNStarbucks, Groupon, OpenTable apps among those to integrate Apple Pay
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12:28 EDTCTRPCtrip.com removed products from Qunar site, GeoInvesting says
GeoInvesting tweeted that after visiting Qunar's (QUNR) website it confirmed Ctrip.com (CTRP) has removed its hotel products from Qunar's website. Shares of Qunar are down 3% to $30.80 in midday trading.

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