Tuesday, July 14, 2009
Priceline com (PCLN) PriceWatch Alert Support At Around $102.82
Priceline com (NasdaqNM: PCLN) closed yesterday at $109.06. So far the stock has hit a 52-week low of $45.15 and 52-week high of $119.33. Priceline com stock has been showing support around 102.82 and resistance in the 112.90 range. Technical indicators for the stock are Bullish and S&P gives PCLN a neutral 3 STAR (out of 5) hold rating. PCLN appears on the Investors Observer Volume Leaders list. For a hedged play on this stock, look at an Oct '09 115 covered call (PUZ JZ) for a net debit in the $101.76 area. That is also the break even stock price for this trade. This covered call has a 95 day duration, provides 6.69% downside protection and a 13.01% assigned return rate for a 49.99% annualized return rate (comparison purposes only). A lower cost hedged play for this stock would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the PCLN Jan '11 40 Call (VZJ AH) and selling the Oct '09 115 call (PUZ JZ) for a $63.50 debit. The trade has a 95 day life and would provide 5.10% downside protection and an 18.11% assigned return rate for a 70.00% annualized return rate (for comparison purposes only). Priceline com does not pay dividends at this time.
Friday, July 10, 2009
Ticketmaster teams with Priceline
Ticketmaster Entertainment Inc.'s Ticketmaster division has partnered with Priceline.com Inc. giving Ticketmaster's online customers access to Priceline's services.
The partnership will bring special offers for airline, rental car and hotels through Priceline, allowing customers attending an out-of-town event to make travel arrangements while purchasing tickets to an event.
According to a release, Ticketmaster estimates that 20-30 percent of an event's audience is from out of town.
Ticketmaster (NASDAQ: TKTM) is based in West Hollywood.
The partnership will bring special offers for airline, rental car and hotels through Priceline, allowing customers attending an out-of-town event to make travel arrangements while purchasing tickets to an event.
According to a release, Ticketmaster estimates that 20-30 percent of an event's audience is from out of town.
Ticketmaster (NASDAQ: TKTM) is based in West Hollywood.
Friday, July 3, 2009
July 4 Travelers Grab Vegas Trips
Americans traveling this Fourth of July weekend may take advantage of last-minute deals such as $92 Manhattan hotel rooms and $200 weekend hotel-flight packages as the recession damps more extravagant plans.
Downtown New Orleans, the Las Vegas Strip, Chicago’s Millennium Park and New York’s Times Square are among the sought-after destinations, according to Internet travel agent Priceline.com. Beach hotels in Ocean City, Maryland, and Fenwick Island, Delaware, still have vacancies and are attracting customers this week, Hotwire.com President Clem Bason said.
“You can truly make your decisions at the last minute,” Bason said in a telephone interview. “Even if they’re flying somewhere because flights are so inexpensive, they’re not all full at the moment. Even hotels, you can make the decision to go away this weekend and still do OK on prices.”
Economic concerns and less personal income will contribute to a 1.9 percent drop in people traveling this weekend from last year, AAA said in a June 24 statement.
The July 4 holiday is typically the busiest for auto travel because children are out of school, making family vacations at this time more popular, AAA said. The nation’s largest motoring association expects air travel to make up 5 percent of the weekend’s journeying.
‘Conservative Decisions’
A drop in demand for corporate travel to destinations such as Las Vegas, Manhattan and Chicago has led hotels there to slash prices to attract leisure travelers, according to Ian Jeffries, a spokesman for Bellevue, Washington-based Expedia.com. To take advantage of the deals, people are also waiting longer, he said.
“Some people are making more conservative decisions because of the economy, but other people are seeing that there are amazing values out there and maybe making decisions at the last minute or a week out,” Jeffries said.
As of noon New York time yesterday, holiday weekend deals on Expedia.com included rooms at Manhattan’s St. James Hotel in Times Square starting at $92. There are packages on Travelocity.com, the Southlake, Texas-based online travel Web site, that include a round-trip flight from Los Angeles to Las Vegas and two nights in a three-star hotel such as the Fiesta Henderson Station Casino from about $200.
Expedia’s stock had surged 82 percent this year through yesterday to $15 and Priceline’s had climbed almost 50 percent to $110.07 as people seek out deals from the Internet-based travel sites.
Cheap Lodging
Hotel bookings on Hotwire.com, a Web site that unloads inventory for hoteliers at discount rates, are up about 50 percent for the July 4 weekend as prices fell 10 percent from last year, Bason said. Airline bookings on the site are down about 25 percent, suggesting that people are still wary of spending on more expensive components of travel, he said.
Beach destinations on the Atlantic Coast that typically sell out for July 4, such as Ocean City and Fenwick Island, still had hotel rooms available as of noon New York time July 1, Bason said. For Florida locations like Ft. Lauderdale, a four- star hotel room was available for $57.
Cities and destinations within driving distance with cheap entertainment are also popular this year, according to Brian Ek, a spokesman for Norwalk, Connecticut-based Priceline.com.
“Washington, Boston, New York and New Orleans -- these are all cities that are planning big Fourth of July events with fireworks that are either very inexpensive or free,” Ek said in a June 30 telephone interview.
Aretha, National Monuments
Washington’s fireworks should be a big draw this year because other communities have curtailed their own shows, and the capital’s version features the backdrop of the national monuments and entertainment from Aretha Franklin, said Rebecca Pawlowski, a spokeswoman for Destination DC, the city’s convention and tourism corporation.
The National Park Service expects bigger crowds and campsites at capacity this weekend as parks around the country offer Independence Day events and fireworks at little or no admission cost.
“We do find that people turn to national parks in an economic downturn,” Jeffrey Olson, a spokesman for the National Park Service, said in an interview June 30. “For the year through May, we’re up 4 percent, and I think that’ll hold throughout the summer.” It’s about a half-day’s drive for most Americans from their homes to a national park, he said.
Best Western International Inc. CEO David Kong said in a Bloomberg Television interview June 30 that hotel locations near national parks are “holding up well” amid a generally soft U.S. market.
Downtown New Orleans, the Las Vegas Strip, Chicago’s Millennium Park and New York’s Times Square are among the sought-after destinations, according to Internet travel agent Priceline.com. Beach hotels in Ocean City, Maryland, and Fenwick Island, Delaware, still have vacancies and are attracting customers this week, Hotwire.com President Clem Bason said.
“You can truly make your decisions at the last minute,” Bason said in a telephone interview. “Even if they’re flying somewhere because flights are so inexpensive, they’re not all full at the moment. Even hotels, you can make the decision to go away this weekend and still do OK on prices.”
Economic concerns and less personal income will contribute to a 1.9 percent drop in people traveling this weekend from last year, AAA said in a June 24 statement.
The July 4 holiday is typically the busiest for auto travel because children are out of school, making family vacations at this time more popular, AAA said. The nation’s largest motoring association expects air travel to make up 5 percent of the weekend’s journeying.
‘Conservative Decisions’
A drop in demand for corporate travel to destinations such as Las Vegas, Manhattan and Chicago has led hotels there to slash prices to attract leisure travelers, according to Ian Jeffries, a spokesman for Bellevue, Washington-based Expedia.com. To take advantage of the deals, people are also waiting longer, he said.
“Some people are making more conservative decisions because of the economy, but other people are seeing that there are amazing values out there and maybe making decisions at the last minute or a week out,” Jeffries said.
As of noon New York time yesterday, holiday weekend deals on Expedia.com included rooms at Manhattan’s St. James Hotel in Times Square starting at $92. There are packages on Travelocity.com, the Southlake, Texas-based online travel Web site, that include a round-trip flight from Los Angeles to Las Vegas and two nights in a three-star hotel such as the Fiesta Henderson Station Casino from about $200.
Expedia’s stock had surged 82 percent this year through yesterday to $15 and Priceline’s had climbed almost 50 percent to $110.07 as people seek out deals from the Internet-based travel sites.
Cheap Lodging
Hotel bookings on Hotwire.com, a Web site that unloads inventory for hoteliers at discount rates, are up about 50 percent for the July 4 weekend as prices fell 10 percent from last year, Bason said. Airline bookings on the site are down about 25 percent, suggesting that people are still wary of spending on more expensive components of travel, he said.
Beach destinations on the Atlantic Coast that typically sell out for July 4, such as Ocean City and Fenwick Island, still had hotel rooms available as of noon New York time July 1, Bason said. For Florida locations like Ft. Lauderdale, a four- star hotel room was available for $57.
Cities and destinations within driving distance with cheap entertainment are also popular this year, according to Brian Ek, a spokesman for Norwalk, Connecticut-based Priceline.com.
“Washington, Boston, New York and New Orleans -- these are all cities that are planning big Fourth of July events with fireworks that are either very inexpensive or free,” Ek said in a June 30 telephone interview.
Aretha, National Monuments
Washington’s fireworks should be a big draw this year because other communities have curtailed their own shows, and the capital’s version features the backdrop of the national monuments and entertainment from Aretha Franklin, said Rebecca Pawlowski, a spokeswoman for Destination DC, the city’s convention and tourism corporation.
The National Park Service expects bigger crowds and campsites at capacity this weekend as parks around the country offer Independence Day events and fireworks at little or no admission cost.
“We do find that people turn to national parks in an economic downturn,” Jeffrey Olson, a spokesman for the National Park Service, said in an interview June 30. “For the year through May, we’re up 4 percent, and I think that’ll hold throughout the summer.” It’s about a half-day’s drive for most Americans from their homes to a national park, he said.
Best Western International Inc. CEO David Kong said in a Bloomberg Television interview June 30 that hotel locations near national parks are “holding up well” amid a generally soft U.S. market.
Subscribe to:
Comments (Atom)