Fri, Jul. 15, 2:27 AM
- Eight months after a murderous rampage in Paris, a deadly attack in the French coastal city of Nice has killed at least 84 people and wounded scores.
- The "terrorist" gunman, described as a French national of Tunisian descent, drove a heavy truck at high speed into a crowd that had been watching Bastille Day fireworks along the Riviera.
- Equities are trading lower, weighed down by travel and tourism stocks, in yet another terror driven selloff.
- CAC 40 -0.6% to 4,358.
- Related tickers: EXPE -2.4%, PCLN -1%, TRIP -1%, NCLH -3%, RCL -2.5%, CCL -0.2%, AAL -1.4%, UAL -1.2%, DAL -1.5%.
Thu, Jul. 14, 8:08 AM| Thu, Jul. 14, 8:08 AM | 1 Comment
Thu, Jul. 7, 2:57 PM
- Hilton Worldwide and Marriott International are offering better discounts to loyalty club members in a bid to lower the amount of payments doled out to online third-party services, according to the The Wall Street Journal.
- It's a trend that's likely to be followed across the industry as chains look to build stickiness with loyalty members.
- Many hotel operators have contracts with sites such as Priceline and Expedia that limit their ability to undercut pricing, with the important exception of loyalty members.
- Hotel and online stocks: BEL, CHH, EXPE, H, HLT, HMIN, HOT, IHG, MAR, STAY, WYN, TRIP, OWW, TZOO.
Fri, Jun. 24, 3:46 PM
- Priceline (PCLN -12%) has plunged to four-month lows, but Piper Jaffray's Michael Olson sees a buying opportunity in online travel stocks, believing Brexit should not have a significant impact on European travel trends because the move will not have a major impact on consumer confidence.
- Olson thinks the protracted nature of the EU withdrawal process will ease its impact on consumer sentiment in Europe, and the European Central Bank already has implemented stabilization measures that should mitigate Brexit's impact on European consumer confidence.
- The U.K. represents just under 7% of the continent's travel demand, while a large portion of European travel consists of consumers traveling within their own countries, Olson says, adding that about half of PCLN's bookings are made by Europeans.
- Olson keeps Overweight ratings for PCLN, Expedia (EXPE -7%) and TripAdvisor (TRIP -6.1%), with respective price targets of $1,500, $147 and $95.
Tue, Jun. 21, 7:51 AM
Wed, Jun. 15, 7:34 AM| Wed, Jun. 15, 7:34 AM | 2 Comments
Mon, Jun. 6, 4:04 PM
- With Kayak, Travelocity, HomeAway, and Orbitz having all been acquired, a Priceline (NASDAQ:PCLN) purchase of TripAdvisor (TRIP +4.9%) could be the online travel industry's next big M&A transaction, argue Bloomberg's Tara Lachapelle and Rani Molla.
- The authors highlight the recent stagnation of Priceline's shares, and the fact TripAdvisor is well off its highs. Some challenges to a deal: TripAdvisor currently sports a $10.4B market cap and has a somewhat lofty valuation (32x a 2017 EPS consensus of $2.26), and TripAdvisor's ties to John Malone's Liberty Interactive (which controls Priceline archrival Expedia) could get in the way.
- Though still down 17% YTD, TripAdvisor rallied to its highest levels since January today. Volume (3.05M shares) was well above a 3-month daily average of 2.16M.
Wed, May 4, 6:03 PM
- TripAdvisor (TRIP -4.1%) has fallen another 3.4% after hours following Q1 earnings that missed on top and bottom lines and revenues that slipped 3%.
- The stock had fallen during market hours despite a positive mention at the Ira Sohn conference from Nick Danaher.
- Adjusted EBITDA fell 33% to $85M, well short of an expected $110.4M.
- Revenue by segment: Hotel, $303M (down 5%); Non-hotel, $49M (up 14%).
- Referral revenue dropped amid a rise in bookings directly on TripAdvisor's sites. Revenue by source: Branded click-based and transaction, $189M (down 13%); Branded display-based advertising and subscription, $68M (up 11%); Other hotel, $46M (up 12%); Non-hotel, $49M (up 14%).
- Geographically, the share of revenue from North America rose to 54% from last year's 50%, while EMEA dropped to 31% from 33%; APAC to 11% from 12%; and Latin America to 4% from 5%.
- Conference call to come tomorrow at 8:30 a.m. ET.
- Press Release
Wed, May 4, 4:08 PM
Wed, May 4, 9:41 AM
- Tripadvisor (TRIP -2.1%) is lower at the open in the wake of Priceline's post-guidance cut tumble, but Nick Danaher of Domando Capital Management - presenting at the Ira Sohn conference - says the stock is an easy double, and a possible multi-bagger. The company's instant booking feature, he says, is a game-changer.
- TRIP reports quarterly results tomorrow.
- For more on "instant booking," now read: TripAdvisor: Challenging The Parent (March 16)
Tue, May 3, 5:35 PM
- AGO, ALDW, ALIM, ALJ, ALL, ANDE, ARCW, AREX, ARRS, ATO, AUY, AWK, AWR, BNFT, BREW, BRKR, CB, CBPO, CCRN, CDI, CECO, CENT, CF, CLR, CODI, CONE, CPE, CPSI, CSII, CSOD, CTL, CTLT, CUZ, CW, CWST, CXO, CXW, DAC, DOX, DPM, DVA, ECR, EPM, EQC, EQIX, ES, ETE, ETP, EXEL, FEIC, FICO, FIT, FLT, FLTX, FNV, FOXA, FRPT, FRSH, FRT, GDDY, GDOT, GHDX, GIL, GPOR, GTY, HABT, HASI, HDP, HIL, HIVE, HOS, HR, HRTG, HUBS, IAC, INFI, IO, IRG, JONE, KHC, KND, KONA, KTOS, KW, LGCY, LHCG, LNC, LNT, LPI, LPSN, LXU, MAA, MASI, MATX, MCHP, MCK, MED, MET, MHLD, MNR, MRO, MTRX, MTW, MUR, NCMI, NLY, NVAX, OHI, OME, ORA, OREX, OSUR, PAA, PAGP, PDLI, PE, PEIX, PHH, PNNT, PRI, PRU, QRVO, QUIK, RICE, RIG, RLJ, RLYP, RP, RRTS, RST, RYN, SBY, SKUL, SQNM, SRC, SUN, SWM, SXL, SZYM, TASR, TCAP, TEAR, THG, TLLP, TPC, TPUB, TRIP, TROX, TSLA, TSLX, TSO, TWO, VECO, VNDA, VRNS, WBMD, WFM, WFT, WGL, WMB, WMGI, WPG, WPX, WTI, WTS, WTW, XEC, XOXO, YUME, ZNGA
Tue, Mar. 22, 8:30 AM
- Travel-related stocks are down sharply following the terror attacks in Belgium at a metro station and the international airport.
- The latest report indicates 26 people were killed and 130 were injured from the explosions.
- Notable movers in premarket trading include Priceline (NASDAQ:PCLN) -2.26%, Expedia (NASDAQ:EXPE) -3.1%, Delta Air Lines (NYSE:DAL) -2.5%, Carnival (NYSE:CCL) -2.4%, United Continental (NYSE:UAL) -3.6%, Norwegian Cruise Line Holdings (NASDAQ:NCLH) -2.0%, Royal Caribbean (NYSE:RCL) -2.4%, Tripadvisor (NASDAQ:TRIP) -1.6%.
- Previously: Brussels Airport, metro stations rocked by explosions (March 22)
- Previously: Futures lower after terrorist attacks in Brussels (March 22)
Mon, Mar. 14, 10:45 AM
- Buyout rumors making the rounds with traders have helped TripAdvisor (TRIP +7.2%) log major gains in early trading. Priceline has been mentioned as a potential suitor.
- 1.6M shares have already been traded; the 3-month daily average is 2.2M. TripAdvisor jumped last month after delivering a healthy Q4 beat, but remains 28% below a 52-week high of $94.00 (set in July).
Mon, Feb. 22, 7:07 AM| Mon, Feb. 22, 7:07 AM
Wed, Feb. 17, 10:14 AM
- Expedia (EXPE +6.4%) and TripAdvisor (TRIP +4.1%) are seeing healthy gains as Priceline (PCLN +10.6%) surges after beating Q4 estimates and reporting bookings growth accelerated to 13% Y/Y from Q3's 7% (and beat guidance for 1%-8% growth). Last week, Priceline and TripAdvisor gained in response to Expedia's Q4 numbers.
- Guidance: Priceline's Q1 top-line guidance is healthy: Bookings are expected to rise 12%-19% Y/Y (18%-25% exc. forex), room nights by 20%-27%, and revenue by 9%-16% (compares with Q4's 9%). EPS guidance of $9.00-$9.60 is below a $9.61 consensus, but (as Q4 results show) Priceline has a history of issuing conservative EPS outlooks.
- Q4 top-line performance: International revenue (89% of total revenue) rose 15.9% Y/Y (29% exc. forex) to $10.7B; U.S. revenue fell 7.6% to $1.3B. Agency revenue rose 15.3% to $10.3B; merchant revenue fell 0.9% to $1.7B.
Room nights booked rose 26.6% to 99.1M, an improvement from Q3's 22% growth and the highest growth rate seen since Q3 2014. Rental car days +10.6% to 12.2M vs. +13% in Q3. Air tickets -2.6% to 1.7M vs. -1.1% in Q3.
- Financials: GAAP operating expenses rose 11% Y/Y to $1.22B - $582M was spent on online ads (much of it going to Google), $33.4M on offline ads, $83.7M on sales/marketing, $106.6M on G&A, $32.3M on IT, $70.7M on depreciation/amortization, and $312.6M on "Personnel" expenses, including stock compensation.
Priceline ended Q4 with $2.6B in cash, $7.9B in long-term investments, and $6.2B in long-term debt.
- Priceline's Q4 results, earnings release
Thu, Feb. 11, 12:49 PM
TripAdvisor, Inc. is an online travel company, empowering users to plan and have the perfect trip. It enables consumers to book hotels, vacation rentals, airline tickets, vacation packages, destination services and even cruises. It manages and operates websites under 24 other travel media brands... More
Industry: Internet Information Providers
Country: United States
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