The financials are in from Expedia. According to the reports, wile quarter 4 revenue was up by 6.7% at $787.1 million compared with the previous year, expenses took their toll virtually eliminating and growth for 2011.
travel stocks
Orbitz May Finally Be A Best Buy
Orbitz announcements of deals and personnel changes, like most such corporate news fodder, would not ordinarly be a sign of anything big in the offing. However, with a closing price of $2.40 on Friday, and the inherent value underneath, it doesn’t take a rocket scientist to figure this stock is on the way up.
American Airlines Gut Punches Orbitz
Travelport and Orbitz sue American Airlines over intended breakup of ticket sale deal. American wants exclusivity and no competition, while online travel companies demand choice for their customers. In what appears to be a move in protest of Travelport’s Southwest deal, AA aims to leverage their position. Meanwhile, Orbitz stocks tumble when they can afford it least.
TUI Travel Value Tumbles
TUI Travel accepts CFO resignation amid almost scandalous restating of financials. CEO Peter Long and CFO Paul Bowtell talk, after which Bowtell announces his resignation. A restated financial report reveals a fairly vast accounting error – stocks decline on the news.