The online travel business is cruising along, according to Priceline
, 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
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.
fell 11% on a warning and renewed plans to acquire Espotting.
gained 4% on new IP phone chips.
rose on news that it could become a takeover candidate for Vodafone
fell 11% on its results.
edged higher on aggressive utility computing plans.
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