Over the last three and a half months, Norwegian Cruise Line Holdings (NYSE: NCLH) has been struggling a bit, or at least its stock has.This could provide a dual layer of resistance that the stock has to break through in order to move higher.
The daily stochastic readings are in overbought territory at this time and they performed a bearish crossover on August 14.
Bookings Holdings shares declined close to -10% Thursday morning.
The company, which operates several travel fares aggregators and travel search engines, reported earnings of $22.49 per share (on a GAAP basis), beating analysts’ estimates of $19.39 per share.Piper Jaffray's Michael Olson downgraded the firm’s stock to neutral from overweight, while lowering his price target to $1,800 a share from $2,100.
Revenue of $2.6 billion exceeded Wall Street estimate of $2.5 billion, and were also +10% higher compared to the year-ago quarter.
The online travel platform had total gross bookings (by customers on rooms, flights and other travel across Expedia’s brands) of $21.96 billion - which indicates a year-over-year growth of +11%.Annual revenue of $11.2 billion was +12% higher, compared to 2017.
The company projects that its adjusted earnings (before interest, tax, depreciation and amortization) will increase in the range of +10% to +15% in 2019.
Yatra Online, a NASDAQ-listed online travel service provider which operates Yatra.com, declared on Wednesday the acquisition of the Chennai, India-based corporate travel services provider PL Worldways Limited (PLW).
Although the financial details of this transaction are yet to be disclosed, Yatra is optimistic that this acquisition will help them buttress its foothold in South India and will add over 100 corporate clients to Yatra’s existing portfolio of over 700 companies.
Dhruv Shringi, co-founder and CEO Yatra Online, said that this acquisition will add to the existing reputation of PL Worldways in South India that already has a strong customer focus and consumer service.This new development will further enhance Yatra’s position in the corporate travel sector and a strong presence in South India has long been in its priority list.
The acquisition will also offer an opportunity to cross sell Yatra’s vast hotels network to PLW’s large client portfolio.
Carnival Corp. reported solidly positive growth in its earnings, but hinted at the possibility of higher fuel costs pulling down profits throughout the year.
The cruise line operator’s fiscal third-quarter profit increased 28% to $1.71 billion,.Per share earnings of $2.41 beat Wall Street expectations of $2.31 per share.
Revenue jumped 5.8 % to $5.84 billion – topping consensus estimate of $5.82 billion.
But as the firm is wary of fuel costs eating into profits, it projected its per-share earnings to range from 65 cents to 69 cents for the current quarter ending in November – which is a lower range compared to Wall Street estimates for 73 cents per share.