Stocks overall quickly lost their early momentum Friday, but one sector that was standing out and forging ahead was online travel services.
Two of strongest stocks of the market day are in that area -- TripAdvisor (TRIP) and Priceline.com (PCLN), with both getting a lift from their earnings reports -- and investors were benefiting from double-digit gains.
Shares of TripAdvisor were the better of the two, rising 19% to $35.03. That puts it on pace to have its single-biggest-session percentage increase in its public history. The best day it's had so far (TripAdvisor was spun out of Expedia (EXPE) late in 2011) was a 16.7% climb on May 2, FactSet data show.
The surge came after the company said revenue for the third quarter increased 18% from the same period last year to $212.7 million. Net income rose 9% year-over-year to $59.4 million, or 41 cents a share. Excluding items, the company earned 46 cents, topping estimates by 4 cents.
Priceline meanwhile was up 10.3% to $646.32. This stockRead More »from TripAdvisor on Track for Best Session Ever