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Stock Market & Financial Investment News

News Breaks
August 8, 2014
11:44 EDTPCLNEarnings Preview: Analysts expect Priceline to exceed Q2 expectations
Online travel company Priceline (PCLN) is scheduled to report second quarter earnings before the market open on Monday, August 11, with a conference call scheduled for 7:30 am ET. The company offers room reservations at nearly 300,000 hotels worldwide. EXPECTATIONS: Analysts are looking for earnings per share of $12.04 on revenue of $2.15B, according to First Call. The consensus range for EPS is $11.62-$12.93 on revenue of $2.09B-$2.42B. LAST QUARTER: Priceline reported first quarter EPS of $7.81 against estimates for $6.92 on revenue of $1.64B against estimates for $1.63B. The company gave Q2 guidance of $11.22-$12.02 and Q2 revenue growth of 19%-29%. It also expected Q2 to increase in total gross travel bookings of 22%-32%. NEWS AND STREET RESEARCH: The company announced in June that it agrees to acquire OpenTable for $103 per share, or $2.6B, and expects the deal to be slightly accretive to FY14 EPS. It sees plenty of room to grow OpenTable to justify the price it paid, adding that OpenTable's payment solution definitely factored in their purchase. Following the purchase, Piper Jaffray said the company will continue to extend into more related categories and believes the merger is synergistic in multiple ways. JMP Securities adds that the acquisition is "highly strategic". FBR Capital said Priceline's latest property count for Booking.com show strong Q2 growth and points to potential earnings upside. Piper Jaffray also said that industry data points to strong Q2 for online travel names, with Priceline specifically with the potential for upside. Ahead of earnings, JMP Securities said Priceline's Q2 results should surpass expectations boosted by a healthy global travel market. PRICE ACTION: Over the last three months, Priceline shares are up about 15%. In afternoon trading on Friday, shares were down 0.9% to $1,273.69.
News For PCLN From The Last 14 Days
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January 29, 2015
07:04 EDTPCLNPriceline February volatility elevated into Q4 and outlook
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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 EDTPCLNDeutsche cautious on travel stocks into Q4 results
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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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