Travelport Worldwide Ltd Launch Leaves Sector Little Changed

Travelport Worldwide Ltd. TVPT gained more than 10 percent in its first morning of trading but other stocks in the business-to-business travel sector seemed unaffected. Atlanta-based Travelport, whose customers include travel agents, airlines, hotels and car rental companies, debuted Thursday priced at $16 a share and traded recently at $17.70. Sabre Corp. SABR was nearly unchanged and Amadeus IT Holding SA AMS fell 1 percent. Share of consumer travel stocks like Priceline Group Inc. PCLN, Expedia Inc. EXPE and Orbitz Worldwide, Inc. OWW were trading down modestly Thursday. Travelport's launch comes with a backdrop of worries concerning Russia and U.S. interest rates that sent the Standard & Poor's 500 Index down more than 1 percent in its steepest decline in seven weeks.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsIPOsEvents
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!