Group 1: Amazon (AMZN) - Amazon's stock has declined by 9% at the start of the year, but this has not deterred smart money as indicated by volatility skew analysis [1] - For the March 20 expiration, the volatility skew shows elevated call implied volatility (IV) compared to puts, indicating a focus on upside volatility protection [8] - The Expected Move calculator projects a price range for AMZN between $194.94 and $225.71, with a probability density peak near $212 [10][11] Group 2: Chewy (CHWY) - Chewy's stock has dropped over 15% since January, with a different volatility skew profile compared to Amazon, focusing on downside risk management [13] - The skew indicates that put IV is higher than call IV, reflecting demand for insurance against tail risk, while also suggesting potential upside tail risk [14][15] - The Expected Move calculator estimates a price range for CHWY between $24.88 and $31.16, with a probability density peak near $32 [16][17] Group 3: Expedia Group (EXPE) - Expedia's stock is down more than 16% year-to-date, and while labeled a Weak Buy, the volatility skew presents an interesting setup [18] - The skew shows elevated put IV at lower strike prices, indicating a concern for downside protection, while call IV rises at higher strikes, suggesting potential upside risk [19][20] - The Expected Move calculator projects a price range for EXPE between $207.55 and $266.15, with a probability density peak around $262 [21][22]

Core Insights - Expedia Group and Affirm have announced an expanded multi-year partnership, making Affirm the exclusive provider of BNPL installment payment methods for lodging and packages across Expedia, Hotels.com, and Vrbo [1] - The partnership will also extend to Canadian travelers on select properties in the near future [1] Payment Options - Eligible travelers can receive real-time approval decisions and choose customized monthly payment plans of up to 24 months when shopping for hotels and packages [2] - In the US, eligible travelers can access 0% APR offers on three- or six-month plans [2] Strategic Vision - The partnership aims to empower travelers by providing clarity and confidence in payment options, enhancing their ability to plan meaningful experiences [3] - The integration of payment choice and transparency is becoming increasingly important in the booking experience, especially with the rise of AI-powered tools [3] Market Position - Affirm has been a partner of Expedia Group for a decade, indicating a long-standing relationship that adapts to changing consumer preferences regarding payment methods [4] - Expedia Group is part of a network of nearly 420,000 merchants globally that trust Affirm for flexible payment options, including major brands like Amazon and Costco [4]

Core Insights - Affirm Holdings, Inc. and Expedia Group, Inc. have expanded their travel payment partnership, making Affirm the exclusive Buy Now, Pay Later option for lodging and packages on major travel brands [1] Group 1: Expanded US Coverage - Under the new agreement, Affirm's installment payment option will be the only Buy Now, Pay Later method for travelers booking hotels and vacation packages on Expedia, Hotels.com, and Vrbo in the U.S. [2] - Eligible customers will receive real-time approval decisions and customized monthly payment plans that can extend up to 24 months [2] - Affirm plans to expand its Buy Now, Pay Later service to Canadian travelers on select properties in the near future [2] Group 2: Payment Options - In the U.S., eligible buyers can select three- or six-month plans with 0% APR, with no compounding interest or late fees, and all terms are visible before checkout [3] - The Vice President of Global Payments at Expedia Group emphasized that clear payment choices help individuals pursue meaningful travel experiences [3] Group 3: Adapting to New Booking Habits - Expedia Group is evolving consumer trip planning with tools like AI-powered itinerary discovery, which integrates payment decisions earlier in the booking process [4] - The Senior Vice President of Revenue at Affirm noted that travelers are now considering payment options alongside their destination choices, reflecting the integration of payment flexibility in modern trip planning [4] - Affirm collaborates with nearly 420,000 merchants globally, including major retail brands, to enhance customer access and increase average order value for businesses [5]

Core Insights - Affirm has become the exclusive provider of buy now, pay later (BNPL) payment options for Expedia Group brands in the U.S. [1] - The partnership will soon extend to Canadian travelers, enhancing payment flexibility for customers [2][3] Partnership Details - The collaboration between Affirm and Expedia Group is part of a multi-year expansion [2] - Affirm is now among nearly 420,000 merchants globally that offer flexible payment options [4] Customer Experience - Affirm's BNPL offerings are designed to provide clarity and confidence in payment selection for customers [3] - The partnership aims to enhance the travel planning experience by integrating payment considerations with travel choices [5] Recent Developments - Affirm reported record volumes and profitable growth in Q1 of fiscal 2026, supported by demand for transparent credit options [5] - Recent partnerships include collaborations with Bolt, Esusu, and Gr4vy to expand BNPL services and flexible payment options [6] Technology and Innovation - Expedia Group is leveraging AI, automation, and partner connectivity to meet growing travel demand [7] - The company's technology systems are designed to create a connected experience for travelers and supply partners [7]

Group 1 - A variety of roles will be impacted, including product managers, software development engineers, user experience designers, data engineers, content designers, and others [1]

Company Overview - Expedia Group, Inc. (EXPE) has a market cap of $32.7 billion and operates as a global online travel company across B2C, B2B, and trivago segments, offering various travel products and services through brands like Expedia, Hotels.com, Vrbo, and Orbitz [1] Stock Performance - Over the past 52 weeks, EXPE stock has increased by 57.7%, outperforming the S&P 500 Index, which rose by 16.1%. However, year-to-date, shares are down 5.9%, while the S&P 500 has returned 1.9% [2] - In comparison to the State Street Consumer Discretionary Select Sector SPDR ETF (XLY), which rose by 6.1% over the same period, EXPE has shown stronger performance [3] Recent Financial Results - Following the Q3 2025 results released on November 6, shares of Expedia surged by 17.6%. The company reported adjusted EPS of $7.57 and revenue of $4.41 billion, both exceeding Wall Street forecasts. Key growth metrics included 11% growth in room nights, 12% growth in gross bookings, 9% revenue growth, and a 26% increase in B2B bookings, along with a 208 basis points expansion in adjusted EBITDA margin [4] Future Earnings Expectations - For the fiscal year ending December 2025, analysts project EXPE's EPS to grow by 35.6% year-over-year to $12.76. The company's earnings surprise history is mixed, with three out of the last four quarters beating consensus estimates [5] Analyst Ratings and Price Targets - Among 36 analysts covering EXPE, the consensus rating is a "Moderate Buy," consisting of 12 "Strong Buy" ratings, one "Moderate Buy," and 23 "Holds" [5] - Wells Fargo has raised its price target on Expedia to $329 while maintaining an "Equal Weight" rating. The mean price target of $280.82 indicates a 5.3% premium to current price levels, while the highest price target of $370 suggests a potential upside of 38.7% [6]

Group 1: ClearBridge Investments Q4 2025 Investor Letter - ClearBridge Mid Cap Strategy underperformed against the Russell Midcap Index, which returned 0.16% during the quarter due to narrow market leadership and sentiment-driven trading [1] - Weakness in information technology and real estate holdings negatively impacted returns, while gains in select consumer discretionary stocks provided partial support [1] - The portfolio management team expressed cautious optimism for the future, citing improving clarity around policy, interest rates, and business investment as potential positive factors for active stock selection [1] Group 2: Expedia Group Inc. Overview - Expedia Group Inc. operates a leading global online travel platform, offering lodging, air travel, and travel services through consumer and business-to-business channels [2] - The one-month return for Expedia Group Inc. was -5.85%, with shares trading between $130.01 to $303.80 over the last 52 weeks, and a market capitalization of approximately $33 billion as of January 27, 2026 [2] - ClearBridge Investments highlighted Expedia as a bright spot in its portfolio, noting improved execution in its consumer business and continued strength in its business-to-business segment [3]

Core Insights - The stock market experienced a significant increase as Wall Street enters a crucial week for fourth-quarter earnings, with major tech companies like Apple, Meta, Microsoft, and Tesla set to report their quarterly results [1] Group 1: Market Outlook - The long-term outlook for stocks is expected to remain bullish through 2026, driven by improving earnings across all sectors, marking the first time since 2018 that all 16 Zacks sectors are projected to expand their earnings [2] - Investors are encouraged to continue purchasing stocks in early 2026, focusing on those that have already performed well in 2025 rather than on underperforming stocks [3] Group 2: Stock Screening Strategy - A screening method using the Research Wizard identifies Zacks Rank 1 (Strong Buy) stocks, narrowing down to those with upward price momentum and trading within 20% of their 52-week highs [5][6] - The screening criteria include a PEG ratio of less than or equal to 1, a Price/Sales ratio of less than or equal to 3, and a percentage change in price over the last 12 weeks [10] Group 3: Company Spotlight - Expedia Group, Inc. (EXPE) - Expedia is highlighted as a strong long-term growth stock, benefiting from a booming travel market, with a reported 7% growth in 2024 and an average revenue growth of 37% from 2021 to 2023 [11] - The company is projected to grow its adjusted earnings by 27% in 2025 and 20% in 2026, increasing from $12.11 in 2024 to $18.39 in 2026, with revenue expected to reach $15.56 billion in FY25 and FY26 [14] - EXPE stock has increased by 55% over the past 12 months, with a notable 434% rise over the past 15 years, and a recent pullback of 10% presents a buying opportunity [15]

Core Insights - The logistics sector has seen significant engagement from investors, particularly in the ASEAN and US markets, highlighting its growth potential and diversification opportunities [1] Investment Focus - The company has diversified its investments across various sectors including banking, telecommunications, logistics, and hotels, indicating a strategic approach to portfolio management [1] - The entry into the US market in 2020 reflects a growing interest in international investments, particularly in sectors like banks, hotels, and logistics [1] Market Trends - The popularity of insurance companies in the Philippines since 2014 suggests a shift in investment preferences among local investors [1] - The trend of investing in blue-chip companies initially has evolved into a broader strategy that includes various industries and market capitalizations [1] Knowledge Sharing - The decision to write for Seeking Alpha indicates a commitment to sharing insights and gaining knowledge, which can enhance investment strategies and market understanding [1]

Core Viewpoint - Expedia is undergoing organizational changes by eliminating certain roles while simultaneously creating new ones to align with future skill requirements and streamline its structure [2][4]. Group 1: Organizational Changes - The company is simplifying its structure and reducing organizational layers to enhance speed and accountability [2]. - Specific details regarding the number of affected employees or the divisions impacted by the layoffs remain unclear [2]. Group 2: Employee Reactions - Several employees have publicly shared their experiences of being laid off on LinkedIn, expressing gratitude for their time at the company and optimism for the future [3]. - Despite the layoffs, Expedia is promoting over 250 open roles, indicating ongoing recruitment efforts [3]. Group 3: Industry Context - Expedia's actions are part of a broader trend among companies, including Citi and T-Mobile, that are cutting roles to flatten organizational structures and prepare for future challenges [4].