Shares of Kayak Software Corp. (NASDAQ: KYAK), a technology driven company focused on improving online travel, are seeing a huge rally in trading today. At last check, KYAK shares were trading 27.87% higher at $39.69 on above average volume of 2.36 million. The stock hit an all-time high of $40.41 in trading today.
KYAK shares are soaring in trading today after the company agreed to be acquired by Priceline.com Inc. (NASDAQ: PCLN) for $40 per share in cash and stock. Steve Hafner, co-founder and CEO of Kayak, said that he started Kayak with Paul English eight years ago to create the best place to plan and book travel. Hafner said that the company is excited to join the world’s premier online travel company. He added that the Priceline Group’s global reach and expertise will accelerate KYAK’s growth and help it further develop as a company.
Priceline.com President and CEO, Jeffrey H. Boyd, said that KYAK has built a strong brand online travel research and their track record of profitable growth is demonstrative of their popularity with consumers and value to advertisers.
PCLN shares, meanwhile, are marginally lower in trading today. At last check, PCLN shares were trading 0.24% lower at $626.36 on volume of 981,707. The stock fell to an intra-day low of $616.04 earlier today.
Shares of Globus Medical Inc. (NYSE: GMED), a medical device company engaged in the design, development and commercialization of products that promote healing in patients with spine disorders, are down sharply in late trading today.
At last check, GMED shares were trading 8.37% lower at $13.57 on above average volume of 414,435. The stock fell to an intra-day low of $13.32 in trading today.
Last week, GMED reported its third-quarter financial results. For the third quarter ended September 30, 2012, GMED reported worldwide sales of $94.8 million, representing an increase of 12.5% over the same period in the previous year. The company’s net income for the third quarter of 2012 was $16.5 million, or $0.18 per diluted share. Non-GAAP adjusted EBITDA for the quarter was 35.1% of sales.
David Paul, Chairman and CEO of Globus Medical, said that during the third quarter, GMED continued to deliver sales growth in excess of the overall spine market, while maintaining its focus on operating the business efficiently.
Shares of Westport Innovations Inc. (NASDAQ: WPRT), a provider of engine and fuel system technologies using gaseous fuels, are soaring in trading today. At last check, WPRT shares were trading 9% higher at $25.69 on above average volume of 1.89 million. The stock hit an intra-day high of $26.38 in early trading today.
WPRT shares are soaring in trading today after the company reported its third-quarter financial results. For the third quarter of 2012, WPRT reported product revenue of $65.1 million, down 9.8% over the same period in the previous year. The company’s parts revenue for the quarter was $9.7 million, representing an increase of 14.1% over the same period in the previous year.
WPRT reported a consolidated adjusted EBITDA loss of $18.5 million for the quarter. David Demers, CEO of Westport, said that the overall market for natural gas transportation is developing with more infrastructure in place by the end of this year and key product launches for the industry such as the Cummins Westport ISX12G, edging closer.
Recent Comments