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Fly News Breaks for December 2, 2019
Dec 2, 2019 | 06:46 EDT
Mizuho analyst James Lee lowered his price target for Neutral-rated Expedia (EXPE) to $100 from $115 and Neutral-rated TripAdvisor (TRIP) to $35 from $40. Booking Holdings (BKNG) remains the analyst's top online travel agency pick with a Buy rating and $2,150 price target. Google's Core Update has negatively impacted the companies' organic search traffic in March, July and most recently in September, Lee tells investors in a research note. He expects Expedia's search engine optimization traffic decline to accelerate in Q4.
News For EXPE;TRIP;BKNG From the Last 2 Days
Feb 27, 2020 | 17:41 EDT
Coronavirus fears continue to grip the market as cases in California, aggressive response measures in countries outside of the U. S... To see the rest of the story go to See Story Here
Feb 27, 2020 | 12:19 EDT
Stocks are extending the pullback that has taken the S&P from a record high to a correction in a matter of only ten days as headlines about the coronavirus continue to dominate sentiment. In some the... To see the rest of the story go to See Story Here
Feb 27, 2020 | 08:26 EST
Wedbush analyst James Hardiman lowered the firm's price target on Booking Holdings to $1,750 from $2,000 and keeps a Neutral rating on the shares. The analyst notes that 2019 finished on a "strong" note, and 2020 appeared to be off to a strong start before coronavirus took a massive and still-unbounded bite out of earnings power. In many ways, Hardiman believes 2020 will prove to be a lost year, and yet agrees with management's assertion that travel demand will ultimately rebound and that strong travel companies such as Booking Holdings may ultimately emerge from the current crisis even stronger than before.
Feb 27, 2020 | 06:51 EST
Mizuho analyst James Lee lowered the firm's price target on Booking Holdings to $2,050 from $2,150 and keeps a Buy rating on the shares. The analyst lowered his estimates to reflect the short-term impact from the coronavirus. However, he believes Booking's underlying trends in Q4 were strong and that its structural advantage remains.
Feb 27, 2020 | 05:07 EST
Piper Sandler analyst Michael Olson lowered the firm's price target on Booking Holdings to $1,750 from $1,900 and keeps a Neutral rating on the shares. The company reported Q4 bookings, room nights and earnings ahead of the Street, largely due to favorable room night growth in Europe, but its Q1 guidance is well below consensus across all key metrics, Olson tells investors in a research note. The coronavirus is impacting global travel trends, which management indicated has already been detrimental to Q1 results to date and creates a high degree of uncertainty for the remainder of the quarter, adds the analyst.
Feb 26, 2020 | 19:03 EST
UP AFTER EARNINGS: Sprout Social (SPT) up 18.6%... Teladoc (TDOC) up 17.2%... Akorn (AKRX) down 12.7%... Alimera Sciences (ALIM) up 11.5%... Etsy (ETSY) up 10.6%... Elastic (ESTC) up 10.5%... 3D Systems (DDD) up 9.2%... Box Inc (BOX) up 8.8%... Natera (NTRA) up 8.7%... Callon Petroleum (CPE) up 8.1%... Upwork (UPWK) up 8.0%... Square (SQ) up 7.4%... Clearwater Paper (CLW) up 5.6%... Rubicon Project (RUBI) up 5.5%... Noodles & Co (NDLS) up 5.4%... Opko Health (OPK) up 5.1%... Arena Pharma (ARNA) up 4.5%... Acadia Pharma (ACAD) up 4.1%... Southwest Gas (SWX) up 4.0%... Corelogic (CLGX) up 2.1%. ALSO HIGHER: Qiagen (QGEN) up 3.3% after announcing shipments of coronavirus test kits... Gilead (GILD) up 3.0% after initiating two phase 3 studies of antiviral Remdesivir in coronavirus. DOWN AFTER EARNINGS: Continental Resources (CLR) down 17.0%... Nutanix (NTNX) down 16.0%... Tutor Perini (TPC) down 15.8%... QEP Resources (QEP) down 14.8%... Medifast (MED) down 14.3%... Carvana (CVNA) down 10.7%... LHC Group (LHCG) down 6.9%... Fiesta Restaurant (FRGI) down 6.6%... Crown Castle (CCI) down 5.7%... Portola Pharma (PTLA) down 5.2%... PDC Energy (PDCE) down 5.0%... Ansys (ANSS) down 3.8%... Silk Road Medical (SILK) down 2.5%... Regenexbio (RGNX) down 2.3%... L Brands (LB) down 2.1%... NetEase (NTES) down 1.7%... Booking Holdings (BKNG) down 0.5%. ALSO LOWER: Microsoft (MSFT) down 1.4% after saying will not meet Q3 guidance in More Personal Computing segment. Movers as of 18:30ET.
Feb 26, 2020 | 16:07 EST
Sees Q1 year-over-year decline in revenues of (9%)-(5%) and year-over-year decline in revenues in constant currency of (7%)-(3%), consensus $2.98B. Booking said: "The coronavirus has had a significant and negative impact across our business during the 1st quarter. It is not possible to predict where, and to what degree, outbreaks of the coronavirus will disrupt travel patterns. The guidance for the 1st quarter is based on the trends observed in the quarter so far and considers the continued negative impact of the coronavirus. The guidance ranges for the 1st quarter are wider than typically provided given the high level of uncertainty in forecasting the coronavirus and its associated impact on the company and the travel industry generally. While it is extremely difficult to forecast results, these guidance ranges represent the company's current estimates of 1st quarter results based on currently available data."
Feb 26, 2020 | 16:04 EST
Reports Q4 revenue $3.3B, consensus $3.28B. Q4 gross travel bookings for Booking Holdings, net of cancellations, were $20.7B, an increase of 6% over a year ago, or approximately 7% on a constant-currency basis. Room nights booked increased 12% over a year ago.
Feb 26, 2020 | 15:03 EST
Notable companies reporting after the market close, with earnings consensus, include Booking Holdings (BKNG), consensus $22.04... Crown Castle (CCI), consensus 48c... Marriott (MAR), consensus $1.47... Square (SQ), consensus 21c... Carvana (CVNA), consensus (63c)... Universal Health Services (UHS), consensus $2.57... Teladoc Health (TDOC), consensus (33c)... Nutanix (NTNX), consensus (69c)... L Brands (LB), consensus $1.86... Etsy (ETSY), consensus 16c... Eldorado Resorts (ERI), consensus 31c... Box (BOX), consensus 4c... Extended Stay America (STAY), consensus 14c... Hostess Brands (TWNK), consensus 16c... 3D Systems (DDD), consensus 1c.
Feb 26, 2020 | 08:29 EST
DA Davidson analyst Tom White lowered his price target on Booking Holdings to $1,775 and kept his Neutral rating to reflect the potential impact of the coronavirus on travel bookings. The analyst is also revising his expected FY20 adj. EBITDA outlook down by 4.2% and lowering his FY20/FY21 revenue views by 1.9% and 1.6%.