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    Expedia Travels First Class

    Mon, 04/30/2012 - 07:59 EDT - Seeking Alpha
    • EXPE
    • Igor Greenwald
    • PCLN

    By Igor Greenwald: Investors had a cursory glance at the US economy’s mildly disappointing 2.2% growth rate in the first quarter, then hurried on to more pressing business. That would be the business of deciding how much to pay up for earnings that have broadly exceeded expectations. Some three-quarters of the S&P 500 companies reporting so far have posted positive surprises, and more impressively still they were, as of last week on pace for year-over-year earnings growth just shy of 10%, well ahead of the 2% consensus forecast. As discussed here a week ago, the global economy of the multinationals overlaps only coincidentally with the national accounts measured by GDP reports. And if Honeywell (HON), Microsoft (MSFT), and Apple (AAPL) haven’t driven that point home yet, here comes Expedia (EXPE), the latest port of call for belated buyers. The online travel marketer’s stock has been up as much as 30% to an all-timeComplete Story »

    • Original article
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      New Finance submits: S&P, Barclays and Caris all cut their price targets for Expedia (EXPE) last week after the company's earnings call. That would certainly be enough for the shellacking that EXPE took on Friday, except for one simple fact: all of their price targets are equal to or greater than $26, and EXPE is trading at about $21. I don’t know an investor that wouldn’t enjoy a 20% return. So, why the sudden investor exodus?

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