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Stock Market & Financial Investment News

News Breaks
August 7, 2014
10:39 EDTPCLN, CTRPCtrip 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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July 1, 2015
14:50 EDTPCLNPriceline, OnStar partner on hotel booking service for drivers
OnStar, a wholly owned subsidiary of GM (GM), and priceline.com, a part of The Priceline Group (PCLN), have partnered to offer drivers the service of booking hotels while traveling. OnStar Guidance plan subscribers in the U.S. and Canada can now secure a stay via OnStar's new AtYourService feature. Advisors can verbally provide information on hotel availability, cost, amenities and ratings and then book a hotel reservation for the subscriber through priceline.com and download those directions to the vehicle's navigation system.
05:54 EDTCTRPCtrip.com recommended into Q2 earnings report at Piper Jaffray
Piper Jaffray analyst Michael Olson recommends owning shares of Ctrip.com into the company's Q2 earnings report. Olson views China travel fundamentals as solid and sees potential for Ctrip's margin expansion to top expectations. He reiterates an Overweight rating on the stock with a $91 price target.
June 30, 2015
11:07 EDTPCLNPriceline rises after analysts highlight positive travel trends
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08:05 EDTPCLNPriceline July volatility increases as shares pullback
Priceline July weekly call option implied volatility is at 27, July is at 25, August is at 29; compared to its 52-week range of 17 to 39, suggesting large near term price movement.
07:41 EDTPCLNOnline travel trends point to solid Q2, says Piper Jaffray
Piper Jaffray analyst Michael Olson said analysis of travel industry trends through May point to a "solid" second quarter for online travel, noting his belief that Priceline (PCLN) has the most favorable risk/reward in the space given the stock's underperformance so far this year. In addition to an Overweight rating on Priceline, Olson keeps an Overweight on HomeAway (AWAY) and TripAdvisor (TRIP), but has a Neutral rating on Expedia (EXPE), citing its relative valuation.
07:07 EDTPCLNPriceline checks positive, says Cantor
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June 22, 2015
10:46 EDTPCLNAirbnb to hurt Priceline more than Expedia, Deutsche Bank says
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10:00 EDTPCLNOn The Fly: Analyst Downgrade Summary
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07:19 EDTPCLNExpedia upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Expedia (EXPE) to Buy citing an improving core business and cost synergies from acquisitions. The firm sees a path for Expedia to reach $200 per share over the next five year. It raised its price target for the stock to $130 from $95. Deutsche coupled the upgrade with a downgrade of Priceline (PCLN).
07:17 EDTPCLNPriceline downgraded to Hold from Buy at Deutsche Bank
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06:42 EDTPCLNPriceline downgraded to Hold from Buy at Deutsche Bank

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