Europe Macro Brings Clouds, but Booking’s Network Advantage Still Shines Bright
Booking Holdings shares dropped around 10% after hours in reaction to weaker first-quarter booking guidance of down 1% to up 1% versus our 4% growth estimate, resulting from travel hesitation in Europe (we estimate around 50% of total bookings), according to the company. At this juncture, we believe that macro uncertainty in Europe is the reason for Booking's cautious outlook versus a weakening competitive positioning. This view is supported by recent tepid comments on Europe made by Expedia (we...Booking Holdings provides travel and restaurant online reservation and related services. The company's brands include: Booking.com and Rentalcars.com, in which Booking.com provides booking online accommodation reservations, based on room nights booked, and Rentalcars.com provides online rental car reservation services; KAYAK, which provides an online price comparison service; Priceline, which provides consumers hotel, rental car and airline ticket reservation services, and vacation packages and cruises; Agoda, which is an online accommodation reservation service; and OpenTable, which provides online restaurant reservation services to consumers and reservation management services to restaurants.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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