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News Breaks
July 31, 2014
14:16 EDTEXPEEarnings Preview: Analysts expects strong Q2 results for Expedia
Expedia (EXPE) is expected to report second quarter earnings after the market close on Thursday, July 31 with a conference call scheduled for 4:30 pm ET. Expedia is an Internet-based travel website that offers airplane, hotel and car reservations, and other vacation and business travel services. EXPECTATIONS: Analysts are looking for earnings per share of 76c on revenue of $1.44B. The consensus range is 57c-95c for EPS and $1.34B-$1.52B for revenue, according to First Call. LAST QUARTER: Expedia reported first quarter adjusted EPS of 16c against estimates of 15c on revenue of $1.2B against estimates of $1.14B. Reports Q1 room nights grew 24% and Q1 domestic room night growth of 20%. It also reported Q1 gross bookings increased 29%, primarily driven by air ticket and room night growth. Domestic gross bookings increased 35% and international gross bookings increased 21%. STREET RESEARCH AND NEWS: In the past quarter, the company agreed to acquire Wotif Group and Auto Escape Group, while also signing strategic agreements with Sabre and Sixt. Oppenheimer said Expedia's acquisition of Wotif is positive and should allow the company to expand in the Asia Pacific region. Piper Jaffray said travel industry data indicates material improvement in the U.S. and points towards a strong Q2. Cantor agreed, expecting Expedia to beat expectations due to relative strength in U.S. paid search, robust growth at Hotels.com, and improving European room rates. FBR Capitals says channel checks on Expedia indicate positive upside in Q2, with bookings growth of 30%-35%. PRICE ACTION: Expedia shares have gained around 6.9% since the first day of trading following the company's Q1 report. In Thursday midday trading ahead of its Q2 report, Expedia shares are trading down almost 3%.
News For EXPE From The Last 14 Days
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July 1, 2015
10:28 EDTEXPEOptions with increasing implied volatility
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07:47 EDTEXPEExpedia waiving certain clauses in deals with European hotel partners
The Expedia group announced that it intends to waive certain clauses in its agreements with its European hotel partners.A number of European competition authorities are currently investigating rate, conditions and availability parity clauses in certain online travel agency agreements with hotels. Expedia has worked closely and constructively with these authorities and the European Commission and today announced that it is waiving its rate, conditions and availability parity clauses with its hotel partners for a period of five years in line with Clauses 1.1, 1.2 and 2.1 of the formal commitments offered by Booking.com and accepted by the national competition authorities in France, Italy and Sweden in April 2015. The changes announced today apply to all hotel properties in Europe and affect consumers booking via Expedia’s sites worldwide. Expedia’s waivers will become effective as of August 1 and Expedia will contact its hotel partners in Europe individually to communicate this announcement and how it intends to implement the changes announced today.While Expedia maintains that its current rate, conditions and availability parity clauses are lawful and in compliance with competition law, Expedia considers that today’s announcement is a positive step towards facilitating the closure of the open investigations into such clauses on a harmonised pan-European basis.
June 30, 2015
11:07 EDTEXPEPriceline rises after analysts highlight positive travel trends
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07:41 EDTEXPEOnline 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.
June 25, 2015
07:12 EDTEXPEExpedia Q2 trends positive, says Cantor
After conducting checks, Cantor says that hotel rates in Europe and the U.S. are improving, while Internet metrics look favorable for Expedia. The firm keeps a $120 price target and Buy rating on the stock.
June 22, 2015
10:46 EDTEXPEAirbnb to hurt Priceline more than Expedia, Deutsche Bank says
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10:00 EDTEXPEOn The Fly: Analyst Upgrade Summary
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07:19 EDTEXPEExpedia 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 EDTEXPEPriceline downgraded to Hold from Buy at Deutsche Bank
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06:42 EDTEXPEExpedia upgraded to Buy from Hold at Deutsche Bank
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