Priceline Outlook Sinks Stock, Tripadvisor Takes Off

Priceline Group Inc PCLN plunged 4 percent on a weak outlook Thursday.

Orbitz Worldwide, Inc. OWW, expected to be acquired by Expedia Inc EXPE, was down 1.5 percent following its own release of first quarter results.

Tripadvisor Inc TRIP gained 2.1 percent to $78.47 and Expedia rose 1.8 percent to $100.96.

Liberty Tripadvisor Holdings Inc LTRPA picked up 2.8 percent to $29.35. The company has a controlling stake in Tripadvisor and is a unit of Liberty Interactive Group QVCA.

Priceline offered a lower-than-expected outlook Thursday and said currency exchange rates will "significantly reduce the company's growth rate."

Priceline, which beat first quarter expectations Thursday, said its second quarter forecast assumes a dollar-exchange rate that is 19 percent weaker for the euro and 11 percent weaker for the British pound versus a year earlier.

Orbitz posted a net loss of $0.19 a share, up from a year-earlier loss of $0.05  a share, while revenue grew 5 percent to $220.2 million.

Wall Street expected adjusted earnings of $0.03 a share on revenue of $224.13 million.

Expedia agreed in February to acquire Orbitz for $1.34 billion. Antitrust regulators sought more information on the deal in late March.

Orbitz' earnings news release Thursday didn't address the antitrust review.