Expedia shares spike on earnings results, BBA Aviation up strongly, Boeing loses ground – SHARE WRAP
Expedia shares surged 28.5% on 29-Apr-09, after the company reported a better than expected net result of USD39.8 million, down 20.1% year-on-year. Revenue decreased 7.6% to USD635.7 million. The company continues to report weaker demand for both hotel and airline tickets, although it expects improvements in transaction and hotel-room-night volumes.
BBA Aviation shares gained 14.0% after it report trading for 1Q09 was “in line with expectations”. Group revenue increased 8%, with the company’s, CEO, Simon Pryce, commenting that BAA is “trading satisfactorily and delivering a strong relative performance”.
Rolls-Royce rose moderately, up 3.0%, confirming a flat profit forecast at its AGM yesterday. Civil aviation related profit is expected to fall, although its other units are expected to compensate.
Boeing and Airbus parent, EADS, lost some of the ground that they made-up earlier in the week, reporting share price falls of 1.2% and 3.0%, respectively.
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Selected aviation suppliers' daily share price movements (% change): 29-Apr-09