107.72 +0.14 (0.13%)
After hours: 4:05PM EST
|Bid||107.63 x 900|
|Ask||107.65 x 1000|
|Day's Range||106.67 - 109.08|
|52 Week Range||93.53 - 144.00|
|Beta (3Y Monthly)||0.99|
|PE Ratio (TTM)||32.21|
|Earnings Date||Feb 5, 2020 - Feb 10, 2020|
|Forward Dividend & Yield||1.36 (1.29%)|
|1y Target Est||129.86|
Expedia’s CEO Mark Okerstrom and CFO Alan Pickerill will step down immediately, after clashing with the company's board of directors. Yahoo Finance’s Emily McCormick joins Seana Smith on The Ticker to discuss.
In 2019, Nike, GAP, Under Armour, Alphabet and Expedia all saw some of their top executives depart from their executive roles. Yahoo Finance's Dan Roberts and Emily McCormick join On the Move to discuss.
The results of the Seattle City Council elections were a huge disappointment to many of us, writes Tom Alberg, but business can be a driver of change.
Let's talk about the popular Expedia Group, Inc. (NASDAQ:EXPE). The company's shares saw a decent share price growth...
Diller, the online travel agency’s chairman, has more voting power than anyone else through supervoting Expedia stock. With the resignations of two of Expedia’s top offices, Diller says he plans to buy more shares.
Shares of Expedia Group Inc. soared more than 7% Wednesday, after the online travel services company surprised the market with the news that its CEO and CFO are out after about two years in their roles, following a disagreement with the board of directors on strategy.
It is more than a little embarrassing when the departure of a company’s chief executive and chief financial officer causes shares to leap 6 per cent. Expedia’s price move reflects optimism that a new management team can help the online travel agency compete more effectively with big tech. Chairman Barry Diller is promising to buy some too. Expedia’s shares then lost a quarter of their value hitting three-year lows.
NEW YORK , NY / ACCESSWIRE / December 4, 2019 / Levi & Korsinsky notifies investors that it has commenced an investigation of Expedia Group, Inc. ("Expedia" or "the Company") (NASDAQ:EXPE) ...
Lolli, a plug-in that gives shoppers cash-back rewards in bitcoin, has added big names like Walmart, Macy's, Ulta, and Hilton. But that doesn't mean those companies are publicly supporting bitcoin.
Pioneering travel technology company Expedia is undergoing a huge change in leadership, as former CEO Mark Okerstrom and former Chief Financial Officer Alan Pickerill announced their resignations Wednesday. Launched in the 1990s, Expedia soon became one of the first successful online travel agencies, acting as a business model for legions of travel sites that came […]
Mark Okerstrom's journey as CEO of travel company Expedia Group has ended after merely two years in a sudden move. "We don't think investors will be overly disappointed with a change in upper management," said Michael Olson, senior research analyst at Piper Jaffray in a note to investors on Wednesday. In fact, Expedia Group share […]
Expedia stock plunged 27% on Nov. 7, when the company reported lower-than-expected earnings and cut its full-year guidance. Now CEO Mark Okerstrom and CFO Alan Pickerill have resigned, effective immediately.
(Bloomberg) -- Expedia Group Inc. said Chief Executive Officer Mark Okerstrom and Chief Financial Officer Alan Pickerill resigned effective immediately after clashing with the board on the online travel agency’s direction. Barry Diller, board chairman, and vice chairman Peter Kern will take charge while the board looks for long-term leadership.“Ultimately, senior management and the board disagreed on strategy,” Diller, 77, said in a statement Wednesday.Earlier this year, Expedia undertook an “ambitious reorganization plan,” aiming to bring its various brands and technology together in a more efficient way. Diller said the move, “while sound in concept, resulted in a material loss of focus on our current operations,” leading to disappointing third-quarter results and a lackluster near-term outlook. The board disagreed with that outlook, Diller said, “strongly believing the company can accelerate growth in 2020.”Diller said he will buy additional shares in the company as a “tangible sign of my faith in and commitment to Expedia’s long-term future.” The stock jumped as much as 10% in New York, the most intraday in about a year and a half, to $109.32.Expedia has been plowing resources into its home-sharing division, Vrbo, to challenge rivals Airbnb Inc. and Booking Holdings Inc. in the booming market for alternative accommodation. Expedia has struggled recently, especially in the third quarter when earnings missed Wall Street’s expectations. The company largely blamed Google, which has been cramming the top of its search results with more advertising, pushing down free listings from travel companies and forcing them to spend more on marketing.Okerstrom said last month that Expedia now sees 2019 adjusted earnings before interest, taxes, depreciation and amortization growth of 5% to 9%, down from a previous forecast for as much as 15% growth.Jake Fuller, an analyst at Guggenheim Securities LLC, said “it sounds to us like Okerstrom-Pickerill may have been getting ready to drop a disappointing 2020 Ebitda guide.” Fuller cut his Ebitda growth estimate to unchanged from a gain of 5% earlier this week. “We are left to wonder whether the two were pitching something worse than that to the board.”Okerstrom had been at Expedia for 13 years, serving previously as CFO before taking the top job in August 2017. The stock has declined about 38% since then. Okerstrom’s focus at the company had been expanding its hotel footprint internationally, according to Fuller, but the company fell flat in alternative accommodations, its biggest growth category. In the third quarter, Expedia’s short-term rental unit reported revenue growth of 14%, down from a 17% pace in the previous period.“The most logical strategic shift we can identify at this point would be getting back on track with VRBO,” Fuller wrote in a note to clients. “Alternative accommodations is a growth category and Expedia cannot afford to cede that space” to Airbnb and Booking.While Vrbo dominates the market in the U.S. for purely vacation-rentals, Airbnb and Booking capture a much larger share of the broader global $34 billion alternative accommodation market, which also includes non-traditional hotels and home sharing.Expedia also announced a new share repurchase authorization for 20 million shares of common stock, which is in addition to the 9 million shares available under the existing authorization.“The fact that Diller plans to buy stock and that Expedia increased the authorization are encouraging, but it will be hard to articulate a clear bull case in the near term withquestions over the 2020 outlook and no visibility on how Expedia may pivot under new leadership,” Fuller said.Eric Hart, Expedia’s chief strategy officer will serve as acting CFO.To contact the reporter on this story: Molly Schuetz in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Jillian Ward at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Billionaire Diller, who also chairs Expedia's former parent IAC/InterActiveCorp , said he will oversee the executive leadership team along with Vice Chairman Peter Kern until the board finds a replacement. "Ultimately, senior management and the board disagreed on strategy," Chairman Barry Diller said in a statement, adding that the company's reorganization plan launched earlier this year had led to disappointing third-quarter results and a "lackluster" near-term outlook. "The board disagreed with that outlook, as well as the departing leadership's vision for growth, strongly believing the Company can accelerate growth in 2020," Diller said.
"Since 2006, value stocks (IVE vs IVW) have underperformed 11 of the 13 calendar years and when they beat growth, it wasn't by much. Cumulatively, through this week, it has been a 122% differential (up 52% for value vs up 174% for growth). This appears to be the longest and most severe drought for value […]
Expedia Chairman Barry Diller said the ouster of the CEO and CFO was brought about because the executives had a different outlook on how the company could accelerate growth in 2020.
Expedia Group Inc (NASDAQ: EXPE ) shares are trading higher on Wednesday after the company announced management changes and initiated a 20 million share buyback program. Expedia CEO Mark Okerstrom and ...
Mark Okerstrom, the CEO of Expedia and a veteran executive at the Seattle-based online travel giant, has resigned following a disagreement between senior leadership and the board, the company said on Wednesday. Chief Financial Officer Alan Pickerill also resigned. Barry Diller, chairman of the board, and vice chairman Peter Kern, will oversee the company's executive […]