The online travel business is cruising along, according to Pricelineand 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, Sycamoremissed estimates, Monster Worldwidewarned, Novateland Micromusebeat estimates, and Gadzooksreceived 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.comfell 11% on a warning and renewed plans to acquire Espotting.
Broadcomgained 4% on new IP phone chips.
Verizonrose on news that it could become a takeover candidate for Vodafone.
Bookhamfell 11% on its results.
And HPedged higher on aggressive utility computing plans.
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