Online travel stocks soaring
Travelzoo leads the pack with a gain of more than 10% at midday.
The stock closed up 10% to $36.93 Monday in a surge that carried along other online travel companies as well. HomeAway (AWAY) also saw a 10% gain, and Expedia (EXPE) closed up 4%.
No one seems to be sure why the sector is seeing renewed interest Monday. Perhaps all the Labor Day travel deals after Hurricane Irene is one culprit. Or maybe it's because Travelzoo has been mentioned as a good acquisition target for a rival like Expedia.
Travelzoo's chief executive talked with Jim Cramer recently. Check out his comments in the following video.
Post continues below video:
Travelzoo shareholders could be pleased by Facebook's decision to exit the daily deals business after four months of testing. Facebook had been offering deals in five cities, using a small sales team to contact local merchants.
But competing with the likes of Groupon and LivingSocial requires a huge investment in a local sales force, and Facebook may not have wanted to spend the money.
Facebook's departure is a clear win for everyone else in the business. Travelzoo launched its daily deals site about a year ago, and did so well with it that the stock soared from $20 to more than $90 in April. But shares have been on a huge slide since then, falling to around $33 last week.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
New legislation is allowing foreign companies to finally invest in the country's vast oil reserves.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.