Priceline Switches to Booking Holdings and Reports Strong Earnings
Priceline officially changed its name to "Booking Holdings" on Tuesday as it reported Q4 results. Overall, Booking Holdings reported a strong Q4. CEO Glenn Fogel joins Cheddar to break down the name change and earnings news.
Q4 revenue came in at $2.8 billion, ahead of estimates, and 19% higher than last year. After earnings were reported, shares rose about 6%.
Fogel says that travel is what drives the business and that is still strong. When asked about compeition, Fogel is confident in Booking Holdings position in the market. Fogel says the great thing about booking.com, is that it is instantly confirmable. Fogel also touts that there is no booking travel fee with their businesses.
Car debt is piling up for consumers, according to a Bloomberg News report. The outlet found that the amount of negative equity, or the amount that debt surpasses a vehicle's value, is building up.
Elon Musk took the stage for Tesla's 2023 Investor Day in Austin, Texas and unveiled what he called the company's Master Plan 3, which emphasizes "sustainable energy for all of Earth."
The cannabis industry is continuing to explode around the world and, at its current pace, is projected to balloon to a market value of nearly $60 billion by 2027, according to cannabis data company BDSA.
U.S. markets ended mostly lower on the first day of March, on data indicating inflation is likely to stay high and Federal Reserve policymakers hinted support for more aggressive rate hikes. Cheddar News speaks with Sam Stovall, Chief Investment Strategist at CFRA who breaks down the market's action.
