Expedia/HomeAway shack up; Facebook eyes all-time high; Kate Spade in the black
Here are some of the stocks the Yahoo Finance team will be tracking for you today.
HomeAway (AWAY) is being bought by online travel giant Expedia (EXPE) for $3.9 billions in cash and stock, or around $38 dollars a share. The deal will help Expedia expand its presence in the home sharing economy and it also builds its portfolio, which already includes Orbitz and Travelocity.
Facebook (FB) posted stronger-than-expected earnings and revenue for the third quarter. Revenue jumped 41%, fueled by a 78% rise in its mobile advertising business and an increase in daily users, which topped the billion mark.
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Whole Foods (WFM) the upscale grocery chain disappointed investors with a weak outlook for the year and a miss on both its top and bottom lines for the third quarter. Profit fell by more than half from a year earlier as sales growth slowed sharply in the face of rising competition in the organic food market.
Qualcomm (QCOM) the chip manufacturer's earnings and revenue topped analysts' estimates in the latest quarter. However, earnings fell 44% from a year earlier as it struggles with competition in Asia and delays in licensing patents in China. The company also cut its outlook for the current quarter.
Kate Spade (KATE) swung to a profit in the third quarter...beating forecasts, as revenue jumped nearly 11% from a year earlier, thanks to strong demand in North America and new products.
