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Stock Market & Financial Investment News

News Breaks
February 1, 2013
09:34 EDTCTRPCtrip.com gaps up after reporting stronger results, upgrade, levels to watch
The shares have gapped up this morning, and run from the gap to a gain of 11.7% over yesterday's closing price. The move filled the prior bearish gap down from last week. This is bullish price behavior. Next resistance is at the session high of $22.40, and then at $23.91. Support is at $21.80. Brean Capital upgraded the stock to Buy today, with a $25 price target.
News For CTRP From The Last 14 Days
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August 7, 2014
12:14 EDTCTRPOn The Fly: Midday Wrap
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10:39 EDTCTRPCtrip 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.
10:00 EDTCTRPOn The Fly: Analyst Upgrade Summary
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09:08 EDTCTRPCtrip.com upgraded at CLSA
As previously reported, CLSA ugpraded Ctrip.com (CTRP) to Buy from Underperform. The analyst said Ctrip's extended partnership with Priceline (PCLN) is a strategic positive for both as they can cross-sell products and expects Ctrip to better capitalize on China's fast growing outbound travel market. Price target raised to $78.
08:12 EDTCTRPCtrip.com deal will enhance leadership position, says Oppenheimer
After Ctrip.com (CTRP) received a $500M investment from Priceline (PCLN) and the two companies strengthened their existing partnership, Oppenheimer thinks the deal will further enhance Ctrip.com's leadership position in China. The firm keeps an Outperform rating on Ctrip.com.
08:08 EDTCTRP, CTRPCtrip.com upgraded to Buy from Underperform at CLSA
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08:07 EDTCTRPCtrip.com a core China Internet/Online Travel holding, says Brean Capital
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August 6, 2014
18:25 EDTCTRPCtrip.com up 15% after Priceline expands existing partnership with Ctrip
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18:13 EDTCTRPThe Priceline Group expands existing partnership with Ctrip.com
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