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Deutsche on Expedia: Checks, management changes point to trouble

  • Deutsche's Ross Sandler, who has downgraded Expedia (EXPE -7.8%) to Hold, says checks indicate the company is "facing much more intense competition in the U.S. market." He's also worried about Expedia's decision to shake up Hotels.com's management.
  • Expedia crashed in July after missing Q2 estimates and more or less admitting it lost share during the quarter to Priceline (PCLN -1.1%). In August, Deutsche reported its checks suggested Expedia is taking back lost share.
  • Priceline and other online travel peers are off moderately. TRIP -1%. TZOO -2.1%. OWW -2.9%.
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