Thank you, Karen. It's all about boiled eggs. At least it was for me in the 1970s and 80s uh growing up in the north of England.Uh when I came home from school in the evening, uh this was my tea time. And for those uneducated amongst you, tea time in the north of England, 1978s had nothing to do with drinking tea. It was your dinner time.And indeed, as I came home and I had my egg with the little pieces of toasted bread there, which are soldiers, I'd be dipping my uh soldiers in my egg and listening to who. ...

We are about 2 minutes away from the end of this trading day and trading week. Scarlet Fu and Kristine Aquino here in for Romaine Bostick and Katie Greifeld adhere to take us through the closing bell. We've got a global simulcast, which means Carol Massar and Tim Stanovec are on board and together we bring all of our audiences across Bloomberg Television, Bloomberg Radio and YouTube worldwide to parse through the most crucial moments of the trading day.Maybe it was in the last hour when we have turned posit ...

Expedia Stock Surges 18% After Blowout Third Quarter Earnings Callhttps://t.co/j12frM3T1N https://t.co/3Onp21pLg1 ...

Core Insights - Expedia has reached a new all-time high after exceeding earnings expectations and raising full-year sales guidance, with gross bookings up 12% year-over-year and revenue increasing by 9% in the quarter [1][5][22] - Piper Sandler upgraded Expedia's shares to neutral from underweight following the positive earnings report, resulting in a 17% increase in share price [1][22] - The travel sector shows a mixed performance, with other companies like Airbnb and Trip Advisor experiencing declines after their earnings reports [2][3] Company Performance - Expedia's business-to-business growth is notable, indicating that this segment is not facing the same credit and liquidity challenges as the consumer sector [4][5] - The company outperformed competitors like Airbnb and Booking.com in terms of room bookings, surprising investors [5] - Year-to-date, Expedia's stock has risen approximately 40%, reflecting strong market performance [9][22] Market Context - The overall travel industry is experiencing varied results, with airlines and cruise lines also showing mixed demand trends [6] - There are concerns regarding discretionary spending among consumers, particularly among subprime borrowers, which could impact future growth [8] - The potential government shutdown may disrupt travel operations, although current flight cancellations remain low at about 3% [10][11][13] Trading Strategies - A trading strategy involving a neutral to bearish stance on Expedia has been suggested, taking advantage of the stock's recent highs and potential consolidation [16][22] - The strategy includes selling slightly out-of-the-money call options to manage risk while capitalizing on the stock's upward movement [17][20]

>> IT IS 10:00 A.M. IN LONDON AND 5:00 A.M. IN NEW YORK CITY. LET US GET STARTED WITH WHAT YOU NEED TO KNOW. A TERRIBLE WEEK FOR TECH. VALUATION WORRIES KNOCKING GLOBAL EQUITIES. MID-CAP STOCKS SELLOFF DESPITE POCKETS OF POSITIVE EARNINGS REPORTS. THE TESLA TRILLIONAIRE. SHAREHOLDERS APPROVE A ONE TRILLION DOLLAR COMPENSATION PACKAGE TO ELON MUSK MARKING THE LARGEST PAYOFF EVER AWARDED TO A CEO. AIRLINES BEGIN CANCELING FLIGHTS AS THE GOVERNMENT SHUTDOWN DRAGS ON. WE ARE LIVE ON THE GROUND. LET US GET A QUI ...

Expedia raised its full-year gross bookings and revenue outlook, signaling that strong travel trends are continuing into the holiday quarter https://t.co/lbNTFfBZsU ...

Well, all four major averages back in the red after yesterday's bounce. Tech once again the lagard as some recent highf flyers return to earth. Should investors view any pullback as a buying opportunity.Far Miller and Washington President CEO Michael Farre joins us. Michael, good to see you. Um, some of the highest valuation stocks in the market are also the biggest in tech.And so even beneath the index level, I wonder is there anywhere to hide. Won't the whole market get dragged down if there's a sentiment ...

Core Insights - Expedia reported earnings per share (EPS) of $757, exceeding estimates of $692, indicating strong financial performance [1] - Revenue also surpassed expectations, coming in at $4.1 billion compared to estimates of $4.28 billion [1] - Booked room nights reached 108 million, exceeding estimates of 103.87 million, reflecting robust consumer demand [1][2] - The company anticipates fourth quarter revenue growth of 6 to 8%, significantly higher than the estimated 2.7% [1] Market Reaction - Shares of Expedia increased by almost 9% following the earnings report, indicating positive market sentiment [2] - The strong report suggests that consumers are willing to spend discretionary income on travel, which is a positive sign for the industry [2][3] - The upcoming holiday travel season is expected to benefit from this strong consumer spending trend [3] Performance Context - The reported numbers are considered "huge" and well above expectations, which is crucial for favorable market reactions [3][4] - The performance indicates a strong consumer base, although it is important to monitor which segments of consumers are driving this spending [3]

Core Insights - RetailMeNot has launched its annual National Cash Back Day, running from November 6-8, offering the highest cash back rates in its history, allowing consumers to earn more rewards than ever before [1][3] Cash Back Offers - Shoppers can earn up to 30% cash back, with an additional 5% at select top brands when using the RetailMeNot app or browser extension [2][4] - Participating retailers include major brands such as LEGO, Expedia, Gap, Walmart, Ulta, Lowe's, Amazon, UGG, Adidas, Macy's, Best Buy, CVS, and Chewy [2][4] Consumer Engagement - National Cash Back Day has become a tradition for savvy shoppers, with RetailMeNot emphasizing the importance of smart spending and maximizing savings [3][7] - Consumers can stack cash back offers with early Black Friday sales to enhance their savings [3][4] Historical Performance - RetailMeNot has paid out nearly $100 million in total cash back to its members to date, highlighting the effectiveness of its cash back program [4][7] Participation Process - To participate, shoppers need to log in or create an account at RetailMeNot, activate an offer, and shop on the retailer's site as usual, with cash back rewards credited within 45 days [6][7]

Financial Data and Key Metrics Changes - IAC reported a 9% digital revenue growth in Q3, marking the eighth consecutive quarter of growth, with strong performance in licensing and performance marketing [16][31] - Digital-adjusted EBITDA grew 9% pro forma to $72 million, with 27% margins, and overall adjusted EBITDA reached $75 million, exceeding previous guidance [31][32] - The company has a cash balance exceeding $1 billion, which will be enhanced by the sale of non-core assets [14][32] Business Line Data and Key Metrics Changes - People Inc. achieved a 9% growth in digital revenue, driven by its iconic brands and diversified revenue sources [16][31] - The print division saw a 10% decline in adjusted EBITDA and a 15% revenue decline, which was considered acceptable by management [32] - Off-platform audience growth accelerated by 66% year-over-year, contributing significantly to revenue [24] Market Data and Key Metrics Changes - Google Search traffic as a source for core brands dropped from 54% two years ago to 24% in the latest quarter, but overall audience scale was maintained [22] - Ad revenue declined by 3% due to volume-related issues, with expectations for recovery in Q4 [23] Company Strategy and Development Direction - IAC aims to streamline its assets, focusing on People Inc. and MGM, while divesting non-core holdings [5][7] - The strategy includes reimagining People Inc. from a defensive to an offensive position, leveraging its brands to create new business opportunities [6][9] - MGM is viewed as a hedge against disintermediation, with a strong position in Las Vegas and plans to increase ownership [10][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong performance in digital revenue and audience engagement [16][29] - The macroeconomic environment is stable for higher-end consumers, while pressures exist in the lower-end market [66] - Management expects continued growth in digital revenue and profitability despite challenges from Google [23][32] Other Important Information - The company laid off about 6% of its workforce to free up capital for investments [29] - IAC has entered into a partnership with Microsoft for a publisher content marketplace, indicating a proactive approach to monetizing content in the AI landscape [25][26] Q&A Session Summary Question: Thoughts on MGM's valuation and investor interest - Management believes owning MGM through IAC offers additional value and optionality, despite the current market discount [39][44] Question: Update on one-time expenses - Management indicated that significant one-time expenses have been cleaned up, with a clear path forward for profitability [40][45] Question: State of the business and Google litigation update - Management expressed confidence in the business's future, highlighting the importance of recent deals and the potential for significant damages from the Google litigation [52][58] Question: Macro environment insights - The macro environment is stable for higher-end consumers, with some pressures noted in the corporate benefit sector [66] Question: Capital allocation strategy - Management emphasized a focus on opportunistic stock buybacks rather than pursuing high-priced acquisitions [72][74]