Investors caught a case of the travel bug Thursday after a blowout quarter from TripAdvisor lifted shares of other online travel companies.
Shares of TripAdvisor (TRIP) surged 16% after the company said late Wednesday that earnings and revenue jumped in the second quarter, blowing past analysts' estimates.
Some traders on StockTwits are hoping the trend will continue when Expedia reports quarterly results after the closing bell Thursday.
Analysts are expecting Expedia (EXPE) to report a sharp drop in earnings, while revenue should be up 21%, according to consensus estimates from Thomson Reuters.
Priceline (PCLN) shares were also riding TripAdvisor's coattails Thursday, gaining 2% to $910. That puts Priceline ahead of Google (GOOG) in the race to reach $1,000 a share. Google was down 1.5% to $890 a share.
Priceline is expected to report earnings growth of 19% when it releases quarterly results next month.
But some traders say the rally in TripAdvisor shares is overdone and will peter out later in the day.
Others say TripAdvisor is setting up for a fall, and they are going short.
If Priceline (PCLN) could name its own stock price, it would probably take this one. Shares of the online travel company hit a 52-week high Monday, jumping 3% after Priceline received an upgrade from Morgan Stanley's analysts.
Morgan Stanley's analysts think Priceline's shares, currently trading around $880, can hit $1,010 as competition in the space declines. They also expect that Priceline has increased its market share of European travel.
Should Priceline's shares follow Morgan Stanley's predictions, shares MOREMaureen Farrell - Jul 8, 2013 1:55 PM ET
William Shatner's Priceline Negotiator character famously plunged off a cliff in a TV ad earlier this year. Despite fears of his untimely demise, he miraculously survived. But now it looks like shares of Priceline (PCLN) are falling off the fiscal cliff ... and it's not as clear just yet if they'll bounce back as quickly as the Shat.
Priceline's stock lost 5% Monday after Deutsche Bank downgraded it from a "buy" MOREPaul R. La Monica - Dec 10, 2012 12:23 PM ET
Another victim of Europe's debt crisis: Priceline.
The online travel company's booking volume slowed substantially from a year earlier sending Priceline's stock plunging.
Priceline's (PCLN) gross bookings still grew, but at a much more modest pace. In the second quarter of this year, bookings grew 26.8% -- the slowest growth rate since the second quarter of 2009 and far below last year's 69% surge.
Investors punished the company's stock, with shares falling 17% MOREBen Rooney - Aug 8, 2012 4:15 PM ET
Dell (DELL) is helping lead the market lower. Maybe housing finally has bottomed? And one trader is skeptical of Expedia's (EXPE) ability to buck the bearish trend today.
mojoris1977: just because David Einhorn and Whitney Tilson like $DELL doesn't mean you should just blindly follow them in. $XRX
TrendRida: $DELL takes the meaning of value trap to a new level...
firstadopter: $DELL call: seeing consumers switching IT spend to alternative mobile devices (Can MOREPaul R. La Monica - May 23, 2012 1:39 PM ET
|Peter Thiel: Financing lawsuits against Gawker is about 'deterrence' May 26|
|Premarkets: 4 things to know before the open|
|'Captain America' twist stuns comic book world|
|Katie Couric stands by 'Under the Gun' as director apologizes for misleading edit|
|World oil prices back at $50 May 26|