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Stock Market & Financial Investment News

News Breaks
February 21, 2014
11:29 EDTPCLN, OWW, EXPEpriceline.com advances after results beat expectations
Shares of online travel agency priceline.com (PCLN) are climbing after the company reported stronger than expected fourth quarter results last night. WHAT'S NEW: priceline.com's Q4 earnings per share and revenue both exceeded analysts' consensus estimates. However, the online travel agency provided first quarter EPS guidance of $6.35-$6.85, versus the consensus estimate of $7.19. It predicted that its revenue would jump about 15%-25% in Q1 versus the same period a year earlier. The company said that it would expand its ad campaign for its Booking.com website to additional markets and launch similar campaigns for other websites. The later start of Easter this year versus last year will hurt priceline.com's Q1 margins, the company stated. The company said it intends to increase its investments in personnel, offices and IT this quarter as it prepares for the peak travel season. ANALYST REACTION: Many research firms reacted to priceline.com's results and guidance by raising their price targets on the shares. Pacific Crest hiked its price target on the stock to $1,580 from $1,220, Benchmark Co. increased its target to $1,550 from $1,200, and Deutsche Bank raised its price target to $1,425 from $1,240. Pacific Crest kept an Outperform rating on the stock, while Deutsche Bank and Benchmark kept Buy ratings on the shares. OTHERS TO WATCH: Other online travel agencies include Orbitz Worldwide (OWW) and Expedia (EXPE). PRICE ACTION: In late morning trading, Priceline.com gained $47, or 3.7%, to about $1,330.
News For PCLN;OWW;EXPE From The Last 14 Days
Check below for free stories on PCLN;OWW;EXPE the last two weeks.
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August 26, 2014
16:22 EDTOWWOn The Fly: Closing Wrap
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16:20 EDTOWWOrbitz issues statement regarding American Airlines action
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16:14 EDTOWWOrbitz FY14 outlook at risk due to American dispute, says Cantor
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12:24 EDTOWWOn The Fly: Midday Wrap
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12:17 EDTOWWAmerican Airlines fares no longer available on Orbitz websites
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06:16 EDTPCLNPriceline implied volatility of 18 at lower end of index mean range
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August 25, 2014
08:44 EDTEXPEExpedia Q3 trends encouraging, says FBR Capital
FBR Capital believes that Q3 U.S. trends indicate that Expedia (EXPE) continues to generate healthy growth. The firm thinks that the company's room night growth and domestic ticket volume growth have accelerated slightly from June levels. FBR expects Expedia to benefit from a change in TripAdvisor's (TRIP) meta path. It keeps an Outperform rating on Expedia.
August 22, 2014
08:38 EDTOWW, PCLN, EXPETripAdvisor cut metasearch inventory in half, says FBR Capital
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August 15, 2014
05:16 EDTPCLNPriceline prices $1B senior notes offering
Priceline announced the pricing of $1B principal amount of Convertible Senior Notes due 2021 through a private offering to qualified institutional buyers. The notes will pay interest semiannually at a rate of 0.90% per annum. In certain circumstances, the notes may be converted into cash up to their principal amount, and into shares of Priceline common stock and/or cash at Priceline's election for the conversion value above the principal amount based on a conversion rate of 0.4865 shares of common stock per $1,000 principal amount of the notes. Priceline estimates that the net proceeds from the offering of notes will be approximately $990M, after deducting estimated fees and expenses. Priceline plans to use the net proceeds from the offering of the notes to repurchase approximately $147M of its outstanding common stock in privately negotiated, off-market transactions, which may be effected through the initial purchasers of the notes or their affiliates, concurrently with the consummation of the offering. Any remaining net proceeds will be used for general corporate purposes, which may include repaying outstanding debt, repurchasing additional shares of the company's common stock and corporate acquisitions.

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