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Stock Market & Financial Investment News

News Breaks
June 13, 2014
12:59 EDTGRUB, AWAY, OPEN, YELP, PCLNAnalyst sees Priceline expanding in more areas after OpenTable buy
After Priceline Group (PCLN) agreed to buy OpenTable (OPEN), which operates an online restaurant reservation network, research firm Piper Jaffray predicted that Priceline would probably expand into additional areas. WHAT'S NEW: Priceline can move into additional categories, including events, ride sharing, and attractions, Piper analyst Michael Olson wrote. The company's decision to buy OpenTable shows that it is poised to move into new business areas, Olson contended. As for the OpenTable deal, the analyst thinks that there are obvious synergies between online travel and online restaurant reservations, and that the two companies will be able to promote their respective offerings to each other's customers. Additionally, Priceline's expertise in overseas operations will enable OpenTable to expand to perform more effectively in that area, the analyst contended. He kept an Overweight rating and $1,485 price target on Priceline. OTHERS TO WATCH: Yelp (YELP) allows its users to review local businesses, including restaurants, and its platform provides local businesses with a range of services, including its newly launched reservation system. GrubHub (GRUB) is an online and mobile platform for restaurant pick-up and delivery orders that similarly connects local restaurants with diners. Shares of HomeAway (AWAY), which operates an online marketplace for the vacation rental industry, are also higher, with the move potentially related to investor belief that it could be targeted for an acquisition by one of the larger players in the space. PRICE ACTION: In early afternoon trading, Priceline fell 2.4% to $1,196, while OpenTable soared 47% to $103.50.
News For PCLN;OPEN;GRUB;YELP;AWAY From The Last 14 Days
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January 30, 2015
07:05 EDTYELPYelp February volatility increases into Q4 and outlook
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January 29, 2015
15:15 EDTYELPFacebook 'Place Tips' to challenge services like Yelp, BI says
Facebook's (FB) newly launched "Place Tips" feature, which provides notifications in users' News Feeds when they near locations that the service determines they may like, is "aimed directly at location-based recommendation apps" such as Yelp (YELP), according to Business Insider. Reference Link
07:04 EDTPCLNPriceline February volatility elevated into Q4 and outlook
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January 27, 2015
15:13 EDTYELPYelp February weekly volatility elevated at 91 into Q4
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11:43 EDTGRUBGrubHub working 'aggressively' to address network issue, CNBC reports
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10:00 EDTYELPOn the Fly: Analyst Upgrade Summary
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05:32 EDTYELPYelp upgraded to Outperform from Market Perform at Raymond James
January 26, 2015
12:08 EDTPCLNPriceline price target lowered to $1,235 from $1,360 at Atlantic Equities
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January 23, 2015
07:21 EDTPCLN, AWAYDeutsche cautious on travel stocks into Q4 results
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January 22, 2015
06:32 EDTYELPBlue Calypso files motion to lift stay in patent infringement cases and appeal
Blue Calypso (BCYP) announced that it has filed a motion in the Eastern District of Texas to lift the negotiated stay on the pending patent infringement litigation between the Company and Groupon (GRPN), Yelp (YELP), Foursquare and IZEA.PK. The Company has also filed notices of appeal at the Federal Circuit Court of Appeals in each of the Covered Business Method Review cases at the Patent Trial and Appeals Board. On January 14, 2014, the parties agreed to stay the litigation in the Eastern District pending the decisions from the PTAB as to validity of the patents. As a part of agreeing to join the stay, the parties jointly agreed to ask the Court to lift the stay and for an expedited litigation schedule if any of the asserted claims were held valid by the PTAB. The PTAB now has confirmed the validity of twenty-eight claims and Blue Calypso, through its counsel, has asked the Court to lift the stay according to the agreement. The defendants refused to participate in the motion to lift the stay as previously agreed, and have instead asked the Court to leave the stay in place in a separate motion.
January 21, 2015
15:57 EDTGRUBSEI VI Chow AIV reports 6.7% passive stake in GrubHub
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January 20, 2015
14:09 EDTPCLNOrbitz jumps after Bloomberg says company may be exploring sale
Shares of online travel agency Orbitz Worldwide (OWW) are jumping after Bloomberg reported that the company is exploring the possibility of selling itself. In a note to investors on January 7, research firm FBR Capital wrote that the company could be acquired for over $10 per share, WHAT'S NEW: Orbitz is exploring a potential sale and private equity firms have expressed interest in acquiring the online travel agency, Bloomberg reported today. ANALYST VIEW: On January 7, research firm FBR Capital estimated that Orbitz could be acquired for $10.27 per share. The firm noted that a trade publication, Tnooz.com, had reported that Orbitz could be considering selling itself. Expedia (EXPE) and Priceline (PCLN) could each pay a premium of 30%-plus for Orbitz and still see their profits rise from the acquisition, FBR added. It kept a $9 price target and Outperform rating on Orbitz. PRICE ACTION: In mid-afternoon trading, Orbitz climbed 69c, or 7.5%, to $9.85.
13:51 EDTPCLNOrbitz draws private equity interest as sale explored, Bloomberg says
Orbitz Worldwide (OWW) is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and "other Internet companies," according to Bloomberg, citing people with knowledge of the matter. Shares of Orbitz are up over 10% after the report, while several other names in the online travel space, such as Priceline (PCLN), Expedia (EXPE), and TripAdvisor (TRIP) are also moving. Reference Link
13:43 EDTPCLNExpedia, TripAdvisor tick higher after report on Orbitz sale exploration
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06:28 EDTGRUBGrubHub initiated with a Sector Perform at RBC Capital
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