Expedia soars on Google takeover talk
April 02, 2008 |
The shares of online travel agency Expedia were up more than 9 percent in afternoon trade on Tuesday amid speculation that the company could be a takeover target for Google Inc.
"Call buyers surfaced in Expedia Inc this morning as unsubstantiated rumors surfaced stating that Google Inc could make a bid for the company," said Susquehanna Financial Group's market intelligence team in a note to clients.
The talk was prominent in the equities options market where sentiment was 67 percent bullish as about 8,000 calls compared with 600 puts changed hands in Expedia, seven times the normal combined volume, according to option analytics firm Trade Alert.
An Expedia spokeswoman said the company does not comment on rumors and speculation.
Get the full story at The Washington Post
Read also: Expedia jumps on Google maps
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