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Fly News Breaks for May 22, 2015
LONG, EXPE
May 22, 2015 | 10:19 EDT
Oppenheimer said it views Expedia's (EXPE) sale of its stake in eLong (LONG) to Ctrip.com (CTRP) and others as a positive development for everyone involved, since it was an underperforming asset for Expedia but will allow eLong and Ctrip to tap into numerous synergies. However, the firm said the recent run-up in Expedia shares keeps the firm sidelined and it keeps its Perform rating on the stock.