Two travel-related companies are breaking out Friday after issuing estimate-beating quarterly earnings: Expedia (EXPE) and Royal Caribbean Cruises (RCL). The travel site gapped up to a new high in huge volume in the stock market today, breaking out of a flat base with a 115.10 buy point. Expedia shares have risen nearly 40% this year. Expedia’s competitor Priceline (PCLN) rose in sympathy. It’s nearing a cup-with-handle buy point. Priceline’s
Airbnb’s likely expansion into hotel bookings poses a threat to online travel companies, says Deutsche Bank, which nonetheless upgraded Expedia (EXPE) on expected momentum from acquisitions while downgrading Priceline Group (PCLN). Lloyd Walmsley, a Deutsche Bank analyst who covers online travel companies, rates Expedia stock a buy and raised his price target to 130 from 95. Expedia stock, which touched an all-time high of 115 on May 22, was up a
HomeAway’s (AWAY) stock is popping following word that its vacation rentals will be listed on Priceline’s (PCLN) Kayak. Shares were up 7.5% to 30.19 by midafternoon in the stock market today. The stock found support at its 50-day line Monday, though it is still trading below its 200-day moving average. Up and down all day, Priceline shares had flattened by midafternoon. The online travel service completed the acquisition of Kayak in 2013. The