And we're about 2 minutes away from the end of the trading day. Bailey Lipschultz and Katie Greifeld Romaine Bostick is still on the line here to join us, though, in this simulcast suits or something, some level, something like that. You know, I talked to him yesterday.It looks like he's having a pretty good time. But anyway, that's Carol Massar. Sitting next to her is Tim Sandvik.And Carol, you take a look at this market action. It's ugly out there and it looks like the S&P 500 are going to finish just aro ...

Core Viewpoint - Expedia forecasts 2026 gross bookings and revenue to exceed Wall Street expectations, driven by strong demand from business clients [1] Group 1: Financial Projections - Gross bookings for 2026 are expected to be between $127 billion and $129 billion, surpassing analysts' average estimate of $125.95 billion [1] - Annual revenue is projected to be in the range of $15.6 billion to $16 billion, with the midpoint exceeding analysts' estimate of $15.69 billion [1] Group 2: Business Segment Performance - The business-to-business (B2B) segment has seen growth due to new client additions, including airlines and offline travel agents [1] - Gross bookings in the B2B division increased by 24% in the fourth quarter, compared to a 5% increase in the direct-to-consumer unit [1] Group 3: Market Trends and Consumer Behavior - Cost-conscious travelers are driving demand for online travel agencies, seeking value through deals and discounts [1] - Expedia reported a 70% increase in partners participating in Black Friday sales, with 30% of fourth-quarter bookings coming from discounted inventory [1] Group 4: Financial Performance - Adjusted profit for the fourth quarter was $3.78 per share, up from $2.39 per share a year earlier [1] - Total revenue for the fourth quarter rose by 11.4% to $3.54 billion [1]

Core Viewpoint - Booking Holdings (NASDAQ:BKNG) is a major player in the online travel industry, facing competition from companies like Expedia and TripAdvisor. The stock was downgraded by Citigroup from "Outperform" to "Market Perform" with a price of $4,644.64 at the time of the downgrade [1][5]. Stock Performance - BKNG's stock closed at $4,644.64, reflecting a significant decline of 9.32% from the previous day, which is more severe compared to the S&P 500, Dow, and Nasdaq, which saw losses of 0.84%, 0.34%, and 1.43% respectively [2]. - Over the past month, BKNG's stock has decreased by 4.57%, underperforming the Retail-Wholesale sector's gain of 6.19% and the S&P 500's increase of 1.8% [2]. Upcoming Earnings Report - Investors are anticipating BKNG's earnings report scheduled for February 18, 2026, with an expected earnings per share (EPS) of $47.53, representing a 14.39% increase from the same quarter last year [3]. - The Zacks Consensus Estimate projects net sales of $6.11 billion, indicating an 11.69% rise from the previous year, suggesting potential growth despite recent stock performance challenges [3]. Trading Range and Market Capitalization - BKNG's stock has traded between a low of $4,615.19 and a high of $5,115 in the current session, with a yearly high of $5,839.41 and a low of $4,096.23 [4]. - The company's market capitalization is approximately $149.7 billion, with a current trading volume of 625,999 shares on the NASDAQ exchange [4].

Core Insights - Expedia and Mattel, Inc. have collaborated to feature Ken as the star in Expedia's Super Bowl LX advertisement titled "Going Places with Ken" [1] Company Highlights - Mattel, Inc. is recognized as a leading global toy and family entertainment company, owning a portfolio of iconic brands [1] - The advertisement will be aired in pre- and post-game placements in the U.S., indicating a strategic marketing approach to reach a wide audience [1] Industry Context - The collaboration between a toy company and an online travel agency highlights the blending of entertainment and travel sectors, showcasing innovative advertising strategies [1]

Market Overview - On February 2, 2026, the Shanghai Composite Index fell by 2.48%, with the CSI 300 down by 2.13%, the STAR Market 50 down by 3.88%, the CSI 1000 down by 3.39%, the ChiNext Index down by 2.46%, and the Hang Seng Index down by 2.23% [5][4] - The best-performing sectors on February 2 were food and beverage (+1.11%) and banking (+0.17%), while the worst-performing sectors included non-ferrous metals (-7.62%), steel (-5.93%), basic chemicals (-5.69%), coal (-5.64%), and oil and petrochemicals (-5.51%) [5][4] - The total trading volume for the A-share market on February 2 was 26,066 billion yuan, with net inflow of southbound funds amounting to 1.907 billion HKD [5][4] Important Recommendations - The report highlights Dongpeng Beverage (605499) as a leading player in the energy drink sector, with clear growth drivers for 2026, including stable growth in specialty drinks, new product launches, and channel deepening [6][6] - The company is expected to achieve a revenue growth rate of 15%-20% in 2026, driven by its core specialty drink products and strong brand positioning [6][7] - Revenue projections for Dongpeng Beverage are estimated at 20,948.13 million yuan for 2025, 26,103.01 million yuan for 2026, and 31,763.13 million yuan for 2027, with corresponding net profit estimates of 4,509.80 million yuan, 5,750.23 million yuan, and 7,141.71 million yuan [6][7] Important Insights - The report discusses the implications of the EU's antitrust actions against Booking, which has seen its market share increase from approximately 60% in 2013 to over 71% in 2023, despite regulatory changes [9][10] - Investment opportunities are identified in Booking's strong market position and its shift towards a merchant model, while competitors like Expedia and Airbnb are adapting their strategies to maintain market relevance [10][10] - Catalysts for growth include the transition to a merchant model, leveraging Google advertising for traffic acquisition, and utilizing membership programs to enhance customer engagement [10][10]

Investment Rating - The industry investment rating is positive [1] Core Insights - The European Union's regulatory efforts have intensified, designating Booking as a "gatekeeper" under the Digital Markets Act (DMA), which prohibits the use of price parity clauses that restrict hotel pricing [2] - Despite antitrust measures aimed at promoting competition, Booking's market share in Europe has increased from approximately 60% in 2013 to over 71% in 2023, indicating a concentration of market power [3] - Booking is strategically shifting its business model from an agency model to a merchant model, allowing it to control pricing and cash flow while avoiding direct legal interference with hotel pricing [4] Summary by Sections Regulatory Environment - The EU's regulatory framework has evolved, with Booking being classified as a "gatekeeper" under the DMA, which mandates compliance with new rules prohibiting price parity clauses [12][18] - The historical context of antitrust actions against Booking highlights a growing trend of regulatory scrutiny across various jurisdictions [25][28] Market Competition - The competitive landscape remains concentrated, with Booking leveraging its dual-sided network effects to maintain its leading position, while competitors like Expedia and Airbnb are exploring differentiated strategies [5][6] - The cancellation of price parity clauses has not led to significant price competition among OTAs, as Booking continues to utilize algorithms and monitoring to maintain pricing control [3][56] Business Model Transformation - Booking's transition to a merchant model allows it to pre-collect payments and manage pricing, effectively circumventing legal restrictions on hotel pricing [4] - The company is investing heavily in Google advertising and membership programs to enhance its market presence and obscure pricing comparisons [4] Future Outlook - The report anticipates that the competitive dynamics in the OTA market will continue to evolve, with Booking's strong market position likely to persist despite regulatory challenges [5][6]

A travel association in Turkey filed a lawsuit to block access to 10 foreign travel sites including Airbnb and Expedia, citing unfair competition, tax evasion and consumer protection risks https://t.co/ChINCksXol ...

Core Viewpoint - WeShop Holdings Limited has announced new retail partnerships with major travel and lifestyle brands, enhancing its social commerce platform and providing consumers with more opportunities to earn rewards through shopping [1][2][3]. Group 1: Retail Partnerships - WeShop has partnered with Booking.com, Hertz, Avis, Expedia, Samsonite, and CruiseDirect to expand its offerings [1]. - These partnerships allow consumers to earn WePoints while shopping, turning vacation planning into a rewarding experience [2][3]. - The partnerships are aimed at enhancing the shopping experience for users in the U.S. and UK, providing access to a wide range of products from various categories [3]. Group 2: ShareBack™ Rewards Program - WeShop's ShareBack™ program rewards users with equity for their shopping activities, allowing them to earn WePoints that can convert into ownership in the company [4]. - The program is designed to merge shopping, sharing, and investing, empowering users to build long-term wealth [4]. - Users can access the ShareBack Prospectus and enroll in the program through WeShop's website [5]. Group 3: Company Overview - WeShop Holdings Limited is positioned as a pioneering social-commerce platform that transforms retail through community ownership [4]. - The company aims to lead a global retail revolution by combining e-commerce, social interaction, and user ownership [4]. - WeShop's network includes hundreds of top retailers and over a billion products, enhancing its value proposition to consumers [4].

Core Viewpoint - Airbnb's stock price experienced a significant decline of over 7% following a major policy change by the Trump administration, which halted immigrant visas for 75 countries, impacting travel demand [1][2]. Company Performance - Airbnb's revenue for the third quarter reached $4.1 billion, reflecting a 10% increase year-over-year, with net income at $1.4 billion and free cash flow of $2.1 billion, indicating strong profitability [7]. - Despite the positive financial results, analysts express caution regarding Airbnb's growth trajectory, which has slowed as travelers increasingly choose hotels over short-term rentals [7][8]. Analyst Outlook - Wall Street analysts have a mixed outlook on Airbnb's stock, with target prices set at $130 by UBS and Morgan Stanley, and lower targets from Wells Fargo, Barclays, and Truist at $130, $120, and $108 respectively [5]. - The consensus price target among analysts is $147, representing an 11% increase from the current level, which is not particularly encouraging given the current market conditions [6]. Industry Context - The World Travel & Tourism Council reported that the travel industry grew by 6.7% to $11.7 trillion in 2025, but foreign visitors to the US decreased by 6.7% due to Trump's policies, with only 68 million visitors compared to 105 million in France and 96.5 million in Spain [3]. - The likelihood of weaker travel demand this year is heightened by the recent visa policy changes [4]. Technical Analysis - The technical analysis of Airbnb's stock indicates a rebound from a low of $110 in November to a high of $141, with a critical resistance level at $130 [11]. - Following the recent crash, there is potential for the stock to rebound in the coming weeks, possibly reaching the year-to-date high of $141, with further gains possible if it surpasses this level [12].

Group 1 - Ralph Lauren Corporation (NYSE:RL) has seen significant stock performance, with an increase of nearly 60% this year, contrasting with many other consumer brands that are struggling [2] - The company has retired 34.1% of its shares since the end of 2015, maintaining stock performance that is roughly even with the S&P 500 over the same period [2] - Under the leadership of CEO Patrice Louvet, Ralph Lauren has gained attention and is expected to be highlighted at the upcoming Winter Olympics, where Team USA will wear Ralph Lauren gear [2] Group 2 - The consumer discretionary sector showed a modest overall gain of 5.3% last year, with Ralph Lauren being one of the well-performing companies alongside others like Carvana and Tapestry, all achieving gains of over 50% [1]