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Priceline Group Inc. (PCLN)

  • Feb. 26, 2013, 4:05 PM
    Priceline (PCLN): Q4 EPS of $6.77 beats by $0.23. Revenue of $1.19B (+20% Y/Y). Shares +4.5% AH. (PR)
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  • Feb. 6, 2013, 1:25 PM
    Expedia (EXPE -2.6%) has given up the AH gains it saw following a mixed Q4 report that featured strong hotel bookings - shares had risen over 30% since Expedia's Q3 beat, leading to heightened expectations. RBC's Mark Mahaney (recently fired from Citi) has downgraded shares to Sector Perform,  predicting Expedia is "is likely now to enter a period of growth deceleration." Management stated on the earnings call it expects tougher European competition from Priceline/Kayak (PCLN +0.5%), and estimated mobile now makes up ~20% of transactions. TRIP +2%.
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  • Feb. 5, 2013, 5:46 PM
    Expedia (EXPE) +4.1% AH and Priceline (PCLN) +2.3% thanks to Expedia's Q4 report, which featured a strong revenue beat to go with a slight EPS miss. Gross bookings rose 19% Y/Y, matching Q3's growth. Hotel room nights +33% (27% in Q3), rates -3%. Air tickets +12% (boosted by VIA Travel acquisition), airfares +2%. Domestic bookings +11%, international +32% and now 44% of global bookings (42% in Q3). Costs/expenses +26%, a little above revenue growth. No shares repurchased. (PR)
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  • Jan. 31, 2013, 11:38 AM
    Priceline (PCLN -2.4%) and Expedia (EXPE -1.6%) slide after Morgan Stanley's Scott Devitt downgrades Priceline to Equalweight. Devitt sees Priceline posting a bookings CAGR of 19% over the next 3 years (down from 46% over the last 3) and also expects EBITDA margin to fall by 220 bps over this time. Tougher European competition from Expedia, Google's (GOOG) online travel efforts, rising travel search ad costs (good for Google), and a shift to mobile bookings (Priceline is better at monetizing PC activity) are also concerns.
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  • Dec. 21, 2012, 12:15 PM
    Online travel stocks are underperforming on a day when Expedia (EXPE -2.2%) announced it's buying 61% of popular German hotel bookings site Trivago. PCLN -2.4%. TRIP -2.7%. OWW -4.6%. TZOO -3.3%. Priceline received 83% of its Q3 gross bookings from international markets, and the bulk of that came from Europe.
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  • Dec. 11, 2012, 9:14 AM
    Liberty Interactive (LINTA) acquires voting control of TripAdvisor (TRIP) by buying over 4.799M shares from Barry Diller and The Diller-von Furstenberg Family Foundation at $62.50 a share. TRIP halted, but PCLN +0.9% and EXPE +3%.
  • Dec. 10, 2012, 11:53 AM
    Priceline (PCLN -4.7%) and Expedia (EXPE -3.5%) are off after Deutsche downgrades Priceline to Hold on a belief a margin-compressing "Cold War" will break out in European online travel. The culprits: Expedia's growing efforts to acquire customers following an improvement in conversion rates; a declining amount of travel-related Google (GOOG) PC ad clicks thanks to the mobile shift; and the possibility Google will make a stronger travel search push once its regulatory issues are handled.
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  • Nov. 9, 2012, 4:20 PM
    Priceline (PCLN -0.3%) and Expedia (EXPE -0.8%) pared the losses they saw after the Kayak (KYAK +28.1%) deal was announced, while TripAdvisor (TRIP +0.6%) fully erased its decline. Nomura's Brian Nowak points out Kayak could take a hit if Expedia (its biggest advertiser) cuts back on spending in response, and that TripAdvisor's 2013 estimates could be at risk if Priceline cuts its ad spending now that it has Kayak as a channel. As far as Priceline goes, Nowak likes the deal's ability to lower Priceline's dependence on Google traffic. (previous)
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  • Nov. 8, 2012, 4:31 PM
    Expedia (EXPE) -4.3% AH on news Priceline (PCLN) is acquiring Kayak (KYAK). Investors are likely worried the direct integration of Priceline's travel listings and bidding platform with Kayak's search engine will hurt Expedia's market share. TripAdvisor (TRIP) -3.3% AH, likely on concerns the Priceline deal could end its travel reviews partnership with Kayak. Priceline is holding a call to discuss the merger (webcast).
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  • Nov. 8, 2012, 4:23 PM
    Priceline (PCLN) is acquiring Kayak Software (KYAK) for $40/share, or $1.8B. The price represents a 29% premium to Kayak's close today. 1/3 of the purchased will be financed via cash, and 2/3 via stock. Priceline expects the deal to close in Q1, and have a minimal impact on 2013 EPS. Regulators may take a close look. PCLN -1.5% AH. KYAK is halted until 4:30 p.m.  (PR)
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  • Nov. 2, 2012, 9:10 AM
    Premarket gainers: TRIP +20%. BGFV +14%. PCLN +11%. NBG +10%. SBUX +9%. DNDN +8%. ANR +8%. OCZ +8%. LNKD +7%.
    Losers: ACTV -28%. GLUU -16%. ALU -12%. VRTX -10%. GES -10%. PSEC -8%. FSLR -6%. SWKS -5%.
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  • Nov. 1, 2012, 6:48 PM
    After-hours top gainers, as of 6:30 p.m.: TRIP +17.3%; PCLN +8.5%; LNKD +7.8%; OWW +5.3%; YPF +4.4%.
    After-hours top losers: ACTV -25.1%; EDMC -8.4%; GES -7.3%; MELI -6.4%; INCY -6%.
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  • Nov. 1, 2012, 6:44 PM
    Priceline (PCLN) now +9.5% AH following its Q3 beat. Q4 guidance is for EPS of $6.12-$6.57, in-line with a $6.34 consensus and fine with investors worried about Europe and (increasingly) the U.S. Total bookings rose 25% Y/Y in Q3 - international +30%, domestic +7% - only a slight slowdown from Q2. Q4 bookings are expected to grow 21%-28% Y/Y, with 27%-35% international growth offsetting flat domestic growth. Between Priceline and TripAdvisor, online travel names such as EXPE, TZOO, OWW, and KYAK could have a good day tomorrow. (PR)
  • Oct. 26, 2012, 8:07 AM (PCLN) bounces 4.2% higher in premarket action after Expedia delivers a strong Q3. The bounce in the online travel could also be a bit of a relief rally after Google cast a dark shadow on the sector with comments on "weak travel" on its Q3 earnings CC (transcript).
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  • Oct. 12, 2012, 9:28 AM
    Travelzoo (TZOO) -17% after warning it expects Q3 revenue of $35M-$35.5M and EPS of $0.20-$0.22, below a consensus of $38.9M and $0.27. The travel deals providers says its hotel search and group-buying voucher solutions aren't "meeting the needs of hotels and users well enough," and is in active talks to buy a hotel bookings site to shore up its offerings. Some online travel names are adding to yesterday's losses. PCLN -1.4%. EXPE -1.8%.
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  • Oct. 11, 2012, 2:26 PM
    Expedia (EXPE -2.5%) slips after ITG Research claims the company's Q3 domestic sales are tracking to $640M, below a $643M consensus. Other online travel names are also lower: PCLN -1.3%. TRIP -2.8%. KYAK -2%. Priceline's soft Q3 guidance put online travel investors on edge in August.
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Company Description
Priceline Group Inc is a provider of online travel and travel related reservation and search services. The Company offer consumers accommodation reservations through its, and brands.
Sector: Services
Country: United States