Stidel Nicolaus Downgrades Online Travel Sites, Concerned About Economy and Competition
NEW YORK (AP) -- A Stifel Nicolaus & Co. analyst downgraded three major Internet travel sites Thursday, citing economic troubles and a growing list of competitors
WHO ARE THESE COMPETITORS??
Analyst George Askew downgraded Orbitz Worldwide Inc., Priceline.com Inc. and Expedia Inc. to "Hold" from "Buy" and said that while 2007 is seeing strong performance, trends in U.S. travel have dipped in the fourth quarter and may mean that consumers have less cash to spend on discretionary purchases, such as vacations.
ARE THESE WEBSITE ONLY USED BY U.S. BASED CUSTOMERS? WHAT ABOUT THE VALUE OF THE DOLLAR, MORE PEOPLE TRAVLING FROM OVER SEAS?