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Expedia heads for worst day in four years after earnings disappointment

“EXPE, -17.12% shares plunged as much as 20% in Friday trading after the online-travel company posted disappointing quarterly results, trimming billions off of the company’s market capitalization” writes Jeremy C for marketwatch.com. The stock fell as low as $118 and were headed for the biggest one-day percentage drop in more than four years.The drop, which came after at least 18 analysts dropped their price target on the stock Friday morning, cost Expedia almost $4 billion in market value at its nadir in morning trading. Expedia stood out from other tech companies that were spiking Friday morning after earnings results, sending the S&P 500 index SPX, +0.79% and Nasdaq composite index COMP, +2.15% higher.
 
Source: marketwatch.com



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