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News Breaks
February 14, 2013
08:20 EDTOWWOrbitz Worldwide reports Q4 revenue $189.7M, consensus $184.87M
Reports Q4 EPS ($2.96), does not compares to consensus 7c. Q4 net loss was $314.6M, due to a $321.2M non-cash goodwill and intangible asset impairment charge. Reports Q4 adjusted EBITDA grew 19% to $35.9M, driven by higher revenue and adjusted EBITDA margin expansion. Reports Q4 gross bookings $2.47B, down 2% from prior year's quarter, primarily driven by lower air volume, partially offset by higher hotel, vacation package and car rental volumes, higher air fares and a shift in air supplier mix.
News For OWW From The Last 14 Days
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July 28, 2015
09:01 EDTOWWVisa, Orbitz to offer fully integrated business travel, expense solution
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July 20, 2015
07:07 EDTOWWOrbitz rewards program exceeds 4M members
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July 14, 2015
11:16 EDTOWWAnalyst says sell Orbitz as risks to Expedia deal mount
The shares of online travel agency Orbitz Worldwide (OWW) are falling after UBS downgraded the stock to Sell from Neutral, citing increased risk that regulators will block the company's proposed takeover by Expedia (EXPE). WHAT'S NEW: Based on recent press reports and his own conversations with players in the online travel sector, UBS analyst Eric Sheridan believes that antitrust concerns surrounding the proposed takeover of Orbitz are mounting. Specifically, travel suppliers are voicing more concern about the deal to regulators, Sheridan stated. Additionally, regulators have vetoed a number of proposed takeovers recently, including Time Warner Cable's (TWC) proposed acquisition by Comcast (CMCSA) and Electroloux's (ELUXY) proposed acquisition of GE's (GE) home appliances unit, Sheridan noted. As a result of these developments, the risk/reward ratio of Orbitz's stock is now "skewed negative," according to the analyst, who cut his price target on the stock to $10 from $12. PRICE ACTION: In morning trading, Orbitz fell 2.4% to $11.12. On February 12, Expedia announced it had agreed to acquire Orbitz for $12 per share in cash.
10:36 EDTOWWOptions with increasing implied volatility
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10:01 EDTOWWOn The Fly: Analyst Downgrade Summary
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09:20 EDTOWWOn The Fly: Pre-market Movers
HIGHER: Natural Health Trends Corp. (NHTC), up 16.2% following second quarter guidance... Transgenomic (TBIO), up 14% after launching genetic test for Leukodystrophy diagnosis... Biocept (BIOC), up 12.4% after launching diagnostic assay for BRAF mutations in melanoma patients... Micron (MU), up 13.1% after WSJ reports that Tsinghua made $23B acquisition offer... SanDisk (SNDK) and AMD (AMD) are up 3.8% and 3.1%, respectively, following reports of Tsinghua offer to Micron... GoPro (GPRO), up 3.2% after being upgraded to Overweight from Equal Weight at Barclays. DOWN AFTER EARNINGS: Wells Fargo (WFC), down 1%... JPMorgan (JPM), down fractionally. ALSO LOWER: Vince Holding (VNCE), down 16.3% after being downgraded to Market Perform from Outperform at William Blair... Tonix Pharmaceuticals (TNXP), down 8.3% after 2.3M share Spot Secondary priced at $7.50... Spirit Airlines (SAVE), down 7.4% after pricing pressure leads to reduced fiscal 2015 margin view... Orbitz Worldwide (OWW), down 2.8% after being downgraded to Sell from Neutral at UBS.
06:06 EDTOWWOrbitz downgraded to Sell from Neutral at UBS
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