Check this out from Briefing.com:
Updated: 23-Apr-99
15:25 ET******
PREVIEW TRAVEL (PTVL) 23 3/8 -2 5/8: Okay, we give. Briefing.com admittedly confused by
today's trading in this online travel company, which reported a much narrower than expected loss
after yesterday's close. In addition to better than expected results, company announced that revenues
rose by 140% year/year and 23%sequentially; gross bookings jumped 114%; and transactions
increased by 105%. Finally, PTVL revealed that the number of registered users grew to 7.2 mln, a
sequential improvement of 13%. Briefing.com also impressed by PTVL's ability to grow ad
revenues, which now account for almost 53% of total revenues. Quite frankly, Briefing.com couldn't
find anything negative in the report, which explains why on our Tech Stocks page we expected the
stock to move higher on the news. Maybe it's a sell on the fact reaction, as stock has run up nicely
over past few weeks. If so, would use near-term weakness as a (re)entry opportunity as company
executing its plan effectively. In addition, with subscribers growing at a healthy clip, PTVL a prime
takeover candidate for bigger portal company looking to add eyeballs. Key support is at 20. As long
as this floor holds, look for PTVL to launch an intermediate-term assualt on pivotal resistance at 30,
with penetration targeting 36-40 range.
We should see a gap on Mon. with BusinessWeek article.
StockMarketMaven |
