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The Priceline Group Inc. stock price
The Priceline Group Inc. latest news:
Online travel giant Priceline Group changes name to Booking Holdings
Priceline is changing its name to Booking Holdings Inc., citing its expansion into numerous international brands over the last 20 years.
TripAdvisor soars 20% higher after earnings show bullish forecast
TripAdvisor Inc. shares zoomed 20% higher Wednesday afternoon on a stronger-than-expected forecast for the current year. In a fourth-quarter earnings report, TripAdvisor revealed a loss of $84 million, or 60 cents a share, on sales of $321 million, up from $316 million a year ago. The loss was mostly attributable to a $73 million charge related to new tax laws; after stripping that and other one-time costs out, TripAdvisor reported earnings of 6 cents a share, down from 16 cents a share a year ago. Analysts on average expected adjusted earnings of 14 cents a share on sales of $309 million. Excitement seemed to stem from TripAdvisor's forecast for the current year, which called for adjusted Ebitda to be flat, while analysts assumed it would continue to fall. "We believe our addressable market opportunity, our unique competitive position and our growth strategy position us to return to double-digit revenue growth and adjusted EBITDA margins in excess of what we have operated to over the past couple of years," executives said in prepared remarks. TripAdvisor shares rose to more than $48 in after-hours action, after closing with a 2.1% gain at $40.72. The stock had been damaged amid an advertising war with rivals Expedia Inc. and Priceline Group Inc. , falling 22% in the past year as the S&P 500 index gained 13.9%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Priceline, TripAdvisor stocks sink after Expedia earnings fall short
Shares of online-travel businesses Priceline Group Inc. and TripAdvisor Inc. are down 2.6% and 1.9%, respectively, in premarket trading Friday after Expedia Inc. reported weaker-than-expected earnings and delivered a disappointing outlook for the full year ahead. Expedia said it would be investing heavily in marketing and working to increase its hotel inventory. All three companies have discussed ramps in ad spending in recent months. Expedia shares are down 15% in premarket trading. TripAdvisor is due to report December-quarter results on Feb. 14, while Priceline is set to report on Feb. 27. TripAdvisor shares are down 24% in the past 12 months, compared with a 12% gain for Priceline shares. Expedia's stock is little changed over that time, as the S&P 500 has gained 12%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Priceline names new CFO, starting March 1
Priceline Group Inc. said Monday it has appointed David Goulden as chief financial officer, effective March 1, to replace Daniel Finnigan, who announced his retirement last year. Goulden was more recently at Dell Technologies, where he was president of the company's infrastructure solutions group. Goulden grew up in Manchester, England, obtaining a bachelor's degree in physics at Durham University and a master's degree in business administration at Cranfield School of Management.Shares of the online travel services company, which slipped 0.1% in premarket trade, have lost 1.6% over the past three months through Friday, while the S&P 500 has gained 9.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Cowen analysts name Priceline among their 'best ideas' for 2018
Share of Priceline Group Inc. rose 0.2% in midday trading after analysts at Cowen and Co. dubbed the stock one of their "best ideas" for 2018. The analysts, led by Kevin Kopelman, think there are several misconceptions on Wall Street about Priceline's stock, which has fallen 7.6% in the last three months. Kopelman doesn't think that Priceline is moving away from Alphabet Inc.'s Google with its ad spending, and he views the company as Google's "travel wingman," even as the search platform changes its ad mix. "While there are some negatives for Priceline in the mix shift within Google results from traditional search ads to meta-search ads (i.e. "Hotel Finder"), we think Priceline is structurally positioned to continue to win on the channel -- versus other online-travel agencies and the hotel chains -- given Priceline's leading conversion rates," he wrote. Kopelman also thinks that Priceline "pulled away from the competition" in the 2017 fiscal year, posting stronger growth in contribution profit than rival Expedia Inc. . Priceline shares have gained 18% so far this year, while Expedia's stock is up 4.7%. The S&P 500 has risen 19% in that time. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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