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RealTime IT News

Have Earnings, Will Travel

The online travel business is cruising along, according to Priceline and Orbitz , which reported earnings after the close on Tuesday.

Orbitz, in its first earnings report since going public in December, reported strong 35% revenue growth in the fourth quarter. Launched with the backing of five major airlines, Orbitz has become one of the top three travel sites (measured in gross bookings) in just 2 1/2 years.

For Priceline, which tumbled after an earnings warning in November, 12% growth and even stronger guidance was enough to send the stock higher after hours.

Also after the close, Sycamore missed estimates, Monster Worldwide warned, Novatel and Micromuse beat estimates, and Gadzooks received a Nasdaq delisting notice.

The broader market rose ahead of testimony to Congress Wednesday by Fed Chairman Alan Greenspan, as buyers fended off a decline on news that OPEC may cut oil production.

The Nasdaq gained 14 to 2075, the S&P 500 rose 5 to 1145, and the Dow climbed 34 to 10,613. Volume rose to 1.39 billion shares on the NYSE, but declined to 1.67 billion on the Nasdaq. Advancers led 21-11 on the NYSE, and 20-11 on the Nasdaq. Upside volume was 62% on the NYSE, and 65% on the Nasdaq. New highs-new lows were 316-2 on the NYSE, and 217-2 on the Nasdaq.

FindWhat.com fell 11% on a warning and renewed plans to acquire Espotting.

Broadcom gained 4% on new IP phone chips.

Verizon rose on news that it could become a takeover candidate for Vodafone .

Bookham fell 11% on its results.

And HP edged higher on aggressive utility computing plans.

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