Expedia up ahead of results announcement, NIIT down 5%
Shares in online travel agency and booking company Expedia gained 2.7% at the close of trading yesterday. The company is due to report its results on 10-Feb-2010, with a Thompson Reuters survey of analysts projecting a 21% increase in per share earnings.
The company has also announced its entry into the Indian travel market, launching a USD5.5 million marketing campaign in the country. The company has estimated that the online travel business in India is worth approximately USD5 billion p/a, and that is growing rapidly and provides a "tempting target" for the company.
Also in India, shares in IT and outsourcing company NIIT Technologies slumped 5%. In Jan-2011, the company reported a net 3Q2010 result of USD10.5 million, but the stock has traded down more than 10% for the year-to-date.
Selected aviation suppliers daily share price movements (% change): 08-Feb-2011