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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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October 31, 2014
10:36 EDTPCLNExpedia results seen as positive indicator for Priceline earnings beat
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07:51 EDTPCLNPriceline has positive read through from Expedia results, says Oppenheimer
After Expedia (EXPE) reported stronger than expected September quarter results, Oppenheimer thinks the results were strong, and indicate that Priceline's (PCLN) results will beat expectations. the firm keeps a $1,400 price target and Outperform rating on Priceline.
October 30, 2014
08:32 EDTPCLNpriceline.com November weekly volatility increases to 42 into Q3
priceline.com November weekly call option implied volatility is at 42, December is at 27, January is at 25, April is at 23; compared to its 26-week average of 28 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 4.
October 28, 2014
11:37 EDTPCLNpriceline.com November weekly volatility elevated at 38 into Q3
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10:08 EDTCTRPCtrip.com threatened by Alibaba partnership with Shiji, Forbes says
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October 21, 2014
10:00 EDTCTRPOn The Fly: Analyst Initiation Summary
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08:08 EDTCTRPCtrip.com initiated with a Buy at Citigroup
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October 20, 2014
16:24 EDTCTRP, PCLNPriceline raises stake in Ctrip.com to 7.9% from 6.88%

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