Expedia is further digging its heels into the domestic travel-booking market with its announced acquisition Thursday of Orbitz Worldwide, after the online travel agency shopped abroad last year to compete with archrival Priceline. The $1.6 billion, $12-a-share Orbitz (OWW) deal is the latest in a string of purchases for Bellevue, Wash.-based Expedia (EXPE), which announced just three weeks ago that it bought Travelocity for $280
Tesla Motors late Wednesday reported a surprise fourth-quarter loss and weaker-than-expected revenue. The luxury electric carmaker lost 13 cents a share excluding items vs. views for a 31-cent profit. Tesla Motors’ (TSLA) earned 33 cents a year earlier. The Q4 loss including items was 86 cents. Non-GAAP revenue rose 44% to $1.1 billion. The consensus was $1.23 billion. Operating expenses nearly doubled to $336.5 million. The stock fell 3.9% late
Baidu’s successful transition to mobile search, which now accounts for more than 50% of revenue, is also the reason it missed on fourth-quarter earnings late Wednesday. China’s dominant search engine provider earned $1.45 per U.S.-listed share, missing the consensus estimate of $1.59. The 11.5% year-over-year gain was also its slowest in four quarters. Revenue in dollars rose 44% to $2.264 billion, slightly ahead of views, but it