Expedia's network advantage intact despite near-term Orbitz integration hiccup.
Expedia’s growth was hurt by self-inflicted Orbitz integration issues in the quarter, which have since been resolved. That said, the company’s network advantage (main source of our narrow moat) is intact, and Expedia also reaffirmed its 2016 EBITDA growth guidance of 35%-45% (excluding the eLong divestiture), as conviction in growth of the HomeAway and Orbitz brands has increased. We do not expect any meaningful change to our Expedia $145 fair value, and recommend investors take advantage of any...Expedia Group is an online travel company. The company's portfolio of brands includes: Expedia.com?, an online travel brand; Hotels.com?, a global lodging company operating websites with its Hotels.com? Rewards loyalty program; Vrbo?, a global online marketplace with a focus on providing lodging options for families; Egencia?, a corporate travel management company; Hotwire?, an online travel website providing spontaneous travel through its Hot Rate? deals; trivago?, an online hotel metasearch platform; and SilverRail Technologies, Inc., provider of a global rail retail and distribution platform connecting rail carriers and suppliers to both online and offline travel distributors.
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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