|Bid||136.71 x 900|
|Ask||136.68 x 900|
|Day's range||136.20 - 138.34|
|52-week range||108.11 - 144.00|
|Beta (3Y monthly)||0.96|
|PE ratio (TTM)||33.58|
|Earnings date||6 Nov 2019|
|Forward dividend & yield||1.36 (0.98%)|
|1y target est||154.96|
It's easy to see what kind of aircraft any given flight will have. Consumers may start looking for this information when the Boeing 737 Max comes back into service.
(Bloomberg) -- In the past year, hotel chains and home-sharing sites have started encroaching on each other’s turf. Airbnb Inc. advertises hotel rooms on its platform and Marriott International Inc. recently launched a home-stay offering.The latest player to blur the lines is short-term rental start up Sonder. The San Francisco-based hospitality company is expanding beyond its network of custom-designed vacation apartments, signing leases with 17 off-the-beaten-path, mom-and-pop style hotels in New York, London, Dublin and other cities in recent months – and is negotiating an additional 40 properties.Sonder targets the sweet spot between a home and a hotel, merging the vibe of an Airbnb in a hip neighborhood with the convenience of a hotel’s 24/7 concierge and professionally cleaned sheets. Sonder advertises its units on Airbnb and Expedia Group Inc.’s Vrbo, complying with local rules and regulations in the 21 cities where it operates.After raising $225 million in a funding round in July, valuing the company at more than $1 billion, Sonder decided to veer away from its traditional short-term rental model and elbow its way into the hotel industry.Co-founder and Chief Executive Officer Francis Davidson says Sonder will be raking in more revenue than Marriott by 2025. That won’t be easy: The world’s largest hotel company had revenue of $21 billion last year and manages more than 1 million rooms.By contrast, Sonder has 10,000 listings, albeit five times as many as it did a year ago. Moreover, its business model has some unwelcome parallels. Leasing space under long-term deals for short-term stays is what led WeWork Cos. to accumulate a pile of debt, which generated investor blow back and ultimately forced the postponement of its public market debut.“We have seen how bad the reception was for WeWork doing leases and how it eats into profitability, especially in the initial phase when the company signs all these leases,” said Bloomberg Intelligence analyst Mandeep Singh. “The question is, what is it technologically that differentiates them from hotel chains – why would anybody pick a Sonder over a hotel?”Davidson says Sonder can charge 20% less than a four-star hotel, using technology to reduce costs and provide guests with a seamless on-app check-in, keyless entry and a mobile concierge. “Our big edge over hotels is that their model hasn’t evolved in the last 40 years,” Davidson says, adding that Sonder’s units are typically found in neighborhoods that major hotels don’t usually occupy.The company has taken over old hat factories, police stables and small historic hotels like Philadelphia Queen Hotel, The Abbey Hotel in Miami or the Flatiron Hotel in New York.Chirag Patel, who runs a family business of 10 small hotel properties in California, working with Sonder has removed his daily administrative tasks without denting his profits. “You get a fresh new look instead of the regular old 40 - 50 rooms that all look pretty much the same,” he says.Lodging researcher and former New York University hospitality dean Bjorn Hanson says Sonder will likely come as a relief to mom-and-pop hotel owners like Patel, who may be tired of operating in a highly volatile market. At least with Sonder, “they pay the lease, they bear the risk,” he says.To contact the reporter on this story: Olivia Carville in New York at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Molly Schuetz, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Traveloka, Southeast Asia’s largest online travel startup, is getting into financial services.The startup backed by Expedia Group Inc. and JD.com Inc. will issue a credit card with Indonesia’s PT Bank Rakyat Indonesia Persero Tbk linked to its booking services. The travel app is targeting many users across the Indonesian archipelago who have little or no access to traditional banking or reliable internet.Founded by three engineers in 2012, Traveloka -- said to be valued at around $2 billion in 2017 -- has expanded across Southeast Asia by making it easier for consumers to book flights and hotels within the region. It’s raised at least $500 million from investors including Hillhouse Capital and Sequoia. Henry Hendrawan, president of Traveloka operations, said the card was one facet of building a fintech business to complement its travel, accommodation and lifestyle services.“In anything we do in financial services, we will always look to go with strong partners,” Hendrawan said in an interview, adding that he expects to unveil more products and partners in the near future. “This is a perfect example.”With a population of more than 620 million and growing middle class, Southeast Asia is expected to see its online travel market almost triple from about $30 billion in 2018 to $78 billion in 2025, according to Google and Temasek Holdings Pte. By 2025, 57% of bookings will be made online, up from 34% in 2015.Traveloka operates in Indonesia, Malaysia, the Philippines, Thailand, Singapore and Vietnam. Customers will be able to use its card in Indonesia and around the world for both online and offline transactions via Visa Inc.’s network.To contact the reporter on this story: Yoolim Lee in Singapore at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Expedia (EXPE) offers $1.25 billion of senior unsecured notes. This move will help the company bring down the cost of capital, thereby strengthening the balance sheet.
Semtech's (SMTC) fiscal second-quarter results may be affected by China demand softness and competition. However, differentiated growth drivers and diversification might aid its earnings.
(Bloomberg) -- IAC/InterActive Corp. is considering giving up control of its top two money-makers: Match Group Inc. and ANGI Homeservices Inc. in an effort to streamline its sprawling operations. The stock jumped on the news.In a letter to shareholders Wednesday, IAC Chief Executive Officer Joey Levin said the company is “considering spinning our two large publicly traded subsidiaries,” adding that IAC may ultimately decide to do nothing. “We sincerely haven’t decided yet what’s best.”At the end of March, IAC owned 98% of the voting interest in ANGI and 97.5% in Match, according to company filings. The two companies have dominated IAC’s portfolio for years. IAC also reported second-quarter earnings Wednesday, with Match accounting for 41% of the total $1.19 billion in revenue, and ANGI accounting for 29%. IAC reported earnings per share of $1.19, beating the average analyst estimate for 96 cents.IAC is a media and internet company that owns more than 150 brands and products, including Match, ANGI, the video-sharing platform Vimeo and news website The Daily Beast. The company is owned by billionaire media mogul Barry Diller, who has been involved in the recent discussions about potentially letting go of its two star performers, Levin said in an interview.“We have done this a lot of times throughout history," Levin said. “We are not empire builders." When IAC’s businesses are big enough and strong enough to stand on their own, “that’s when we consider a spin off," he said.Match’s shares have gained more than seven-fold since its initial public offering in 2015. On Wednesday, its shares rallied the most ever after reporting surprisingly positive second-quarter earnings, with huge subscriber growth in the online dating app Tinder. The strength of Match’s financial results caused IAC shares to gain 11% Wednesday. They spiked 6.5% in extended trading after IAC’s earnings results and news that the company is considering spinning off Match and ANGI.IAC bought consumer-recommendation website Angie’s List in 2017 and combined it with its HomeAdvisor online-review business to create a new publicly traded company, ANGI Homeservices.IAC previously spun off the online travel giant Expedia into its own entity in 2004. Four years later, it shed HSN TV, Ticketmaster, Interval International and LendingTree.“We have been restructuring this company for 20 years," Diller said in an interview on Bloomberg TV in 2016. The reason “is not for external purposes or for how you show it to the world, it’s for how you function internally and how you manage," he said. “Continuing to streamline makes sense."To contact the reporters on this story: Olivia Carville in New York at email@example.com;Jeran Wittenstein in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Molly Schuetz, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- What does the communications minister of a vast, multi-ethnic and multi-religious nation do at work? Rudiantara kills fake news. Just ahead of the presidential election verdict in May, the Indonesian minister, who uses one name, had to deal with as many as 600 social-media hoaxes in a day. The usual average is about 100, he tells me. But if the internet’s potential to act as a hate machine poses considerable risks to a democracy barely 20 years old that’s grappling with rising Islamist assertiveness, the rewards it offers the world’s fourth-most populous nation are also enormous. And that’s Rudiantara’s other day job: helping breed unicorns. Don’t be surprised if over the next five years, more young firms valued at $1 billion or more are spawned in Indonesia than anywhere else in Asia outside China and India. Jakarta will have succeeded by letting the private sector lead the way, rather than build a protective moat around its digital champions, like China, or creating a bureaucracy to unsuccessfully pick winners, as Malaysia has done for decades of mediocre results. Indonesia already has four unicorns, with ambitions embodied by homegrown ride-hailing giant Gojek’s plans for a “super app” for Southeast Asia, just like China’s Alipay and WeChat Pay. In May, Masayoshi Son’s SoftBank Group Corp. teamed up with other investors in a $200 million fund aimed at discovering other promising startups. Son’s optimism is a telling indicator. That’s because, in many ways, the digital age dawned on Indonesia with the takeoff of PT Tokopedia, its No. 1 e-commerce site, which in 2014 secured a then-record $100 million funding from the likes of SoftBank and Sequoia Capital. Since Tokopedia’s smaller rival PT Bukalapak.com made the cut in late 2017, everyone’s waiting for the emergence of the fifth member of the $1-billion-plus valuation club, which also includes Expedia Group Inc.-backed Traveloka, a travel aggregator. Indonesia’s size is part of its promise. The 267 million population is 47 times that of wealthier Singapore. That helps tilt the upside in Indonesia’s favor even though an average person in the city-state carries out 23 times more digital transactions in a year. Yet the country is fragmented and sprawls across 17,000 islands that are difficult to administer. Jakarta has a penchant for regulation but lacks the wealth for state investment beyond the basics. When Indonesia got started on its digital journey in earnest after President Joko Widodo was first elected in 2014, the iPhone was already seven years old. Contrast this with the state-directed model of Malaysia, Indonesia’s much smaller and richer neighbor. Under the drive of then-Prime Minister Mahathir Mohamad, now in his second stint in power, Kuala Lumpur started planning a multimedia super-corridor just around the time Microsoft Corp. began shipping Internet Explorer 1.0. Even today, 80% of venture-capital funds come from the government, with three ministries and multiple agencies making more of a hash than world-beaters. Indonesia’s financing was private from the start. It was the success that Northstar Advisors Pte’s Patrick Walujo had with his early backing of Gojek that is helping create a homegrown venture-capital industry.In hindsight, it was a blessing in disguise that Indonesia took an unplanned, serendipitous course similar to India’s. Still, some planning is now needed. India, Vietnam, Mongolia and the Philippines are doing better at innovation than typically expected from lower-middle-income economies. Indonesia is not in that overachievers’ club, according to the Global Innovation Index report released this week. Part of the problem is the education system, which has long resisted reform. Even here, technology could help. A high-speed internet satellite in 2022 will bring the web to all of Indonesia’s 324,000 schools, Rudiantara says. A more skilled workforce could lessen reliance on what has historically been the main economic driver, commodity wealth, and create economic growth and opportunities for startups.If the country expands its stable of four unicorns, it won’t be entirely due to the private sector. Not long ago, networks were patchy and access was concentrated in Java, the most-populous island. Now, Telkomsel Indonesia, the dominant state-run player, offers download speeds of 11 megabits per second even in remote West Papua and Maluku, far better than in the capital, according to Opensignal. Thanks to the spread of mobile internet, about 65% of Indonesians are now online. Violence briefly erupted around the May election decision and Rudiantara had to disable certain social-media features temporarily to contain it. There was little disruption, on the streets or the internet, in the weeks that followed, however, as losing candidate Prabowo Subianto’s challenge was adjudicated. With the fake news menace contained and two decades of democracy bolstered, it’s time now for Indonesia to harness the internet to breed unicorns, not hate. To contact the author of this story: Andy Mukherjee at firstname.lastname@example.orgTo contact the editor responsible for this story: Patrick McDowell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Expedia (EXPE) delivered earnings and revenue surprises of 4.12% and 0.78%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
(Bloomberg) -- Expedia Group Inc.’s vacation rental business reported an uptick in revenue growth after the unit was rebranded, reversing two quarters of declines and signaling renewed momentum in the travel giant’s fastest-growing category.Bellevue, Washington-based Expedia’s short-term rental unit reported revenue growth of 17% in the three months ended June 30. That’s more than the 14% in the previous period when it switched the division name to Vrbo, a moniker more familiar to Americans than the previous HomeAway label, which is more well-known in Europe. Total revenue grew to $3.15 billion, exceeding Wall Street’s forecast of $3.12 billion for the quarter.Expedia has been plowing resources into Vrbo in a bid to challenge rivals Airbnb Inc. and Booking Holdings Inc. in the booming market for alternative accommodation. While Vrbo dominates the market in the U.S. for purely vacation-rental accommodations, Airbnb and Booking capture a much larger share of the broader global $34 billion alternative accommodation market, which also includes non-traditional hotels and home sharing.Vrbo only pulls in just over 10% of Expedia’s overall revenue, but analysts and investors focus on the division because it represents the company’s best bet for growth.“The reason we think alternative accommodation is so important is because it’s one of the fastest growing parts of the wider online travel sector,” Needham & Co. Inc. analyst Brad Erickson said in an interview before the results were published Thursday. “The stock’s multiple will be disproportionally tied to how they are doing in that category.”Expedia shares fluctuated in extended trading, and were up 3.56%. They have recovered from a steep slide after the first-quarter earnings and closed at $138.21 in New York Thursday, their highest this year.Gross bookings for the travel giant climbed 9% in the second quarter, the company reported. Adjusted earnings before interest, tax, depreciation and amortization came in at $568 million, beating average analyst estimates of $539 million. Earnings per share rose to $1.77, excluding some items. The average analyst estimate was for $1.63.The deceleration in vacation-rental revenue growth over the previous two quarters stemmed in part from the streamlining of Expedia’s home-rental brands and services, which have pushed its websites down in Google search results, Expedia’s Chief Executive Officer Mark Okerstrom said last quarter. He estimated growth in Vrbo would remain tepid until the company has time to rebuild the brand and drive consumers to its new sites.To contact the reporter on this story: Olivia Carville in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Molly Schuetz, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tech giants Alphabet and Amazon and coffee chain Starbucks take center stage after the market close when they report second-quarter results.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.