March 08, 2005

IACI on its acquisition of Cornerstone (quotes from investor conf)

IAC (ticker: IACI) CFO Tom McInerney discussed the rationale for IAC's acquisition of catalog and web retailer Cornerstone in his presentation to the Bear Stearns Annual Media Conference:

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Posted by David Jackson on March 8, 2005 at 10:17 AM in Conf call quotes, Sub-sector: E-tailing, ticker: IACI | Permalink | Comments (0) | TrackBack (0)

March 06, 2005

February short interest

Short interest in Nasdaq stocks rose by 6.3% month over month in February. But short interest for Nasdaq Internet stocks rose by more: on a basket of 25 Internet stocks tracked by American Technology Research, short interest  rose by 10.4%. Details:

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Posted by David Jackson on March 6, 2005 at 07:41 AM in ticker: AMZN, ticker: CNET, ticker: EBAY, ticker: ELNK, ticker: GOOG, ticker: HOMS, ticker: IACI, ticker: LOOK, ticker: NFLX, ticker: NILE, ticker: OSTK, ticker: PCLN, ticker: TZOO, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

February 22, 2005

Surprise stock implications of wealthy online user growth

Nielsen/NetRatings reports (PDF) that the fastest growing segment of Internet users by income during 2004 was the top group - those with household incomes over $150,000. Details of the Nielsen/NetRatings report, then analysis including stock implications:

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Posted by David Jackson on February 22, 2005 at 12:05 AM in Sector Themes, Sub-sector: E-finance, Sub-sector: E-tailing, Sub-sector: Travel, ticker: AMZN, ticker: EBAY, ticker: IACI, ticker: NILE, ticker: PRVD, ticker: REDE, ticker: SCH, ticker: TSCM, ticker: TSG, ticker: TWX, ticker: YHOO | Permalink | Comments (1) | TrackBack (3)

February 17, 2005

IAC (IACI) on local online ads and services (quotes from the conf call)

IAC (ticker: IACI) CEO Barry Diller talked on his Q4 results conference call about all of IAC's businesses. Here's what he said about local advertising and services:

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Posted by David Jackson on February 17, 2005 at 08:29 PM in Conf call quotes, Sub-sector: Advertising, Sub-sector: Content, Sub-sector: E-tailing, Sub-sector: Services, ticker: IACI | Permalink | Comments (0) | TrackBack (0)

Sell-side reaction to IAC (IACI) 4Q04 results

IAC (ticker: IACI) traded roughly flat after releasing earnings yesterday, and down 2.4% today in a weak tape. Here's what one sell-side analyst wrote in reaction to IAC's Q4 results:

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Posted by David Jackson on February 17, 2005 at 06:04 PM in Earnings results, Sub-sector: Travel, ticker: IACI | Permalink | Comments (0) | TrackBack (0)

February 09, 2005

Wal-Mart.com catching up with Amazon and eBay

Nielsen/NetRatings reports latest traffic numbers for November/December:

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Posted by David Jackson on February 9, 2005 at 06:05 PM in Sub-sector: E-tailing, ticker: AMZN, ticker: EBAY, ticker: IACI, ticker: OSTK, ticker: SHOP, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

February 04, 2005

CEO of Date.com talks about online dating

Meir Strahlberg, CEO of Date.com, talked about the online dating business in a speech at an industry conference. Why does this matter to internet investors? First, Yahoo! and IACI both own an online dating business. Second, dating sites are big spenders on online advertising. Third, dating sites will converge with social networking and content businesses.

Here's the majority of the speech:

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Posted by David Jackson on February 4, 2005 at 07:00 AM in Sector Themes, ticker: IACI, ticker: YHOO | Permalink | Comments (1) | TrackBack (2)

February 01, 2005

A new competitor in discount online travel

Overstock.com CEO Patrick Byrne outlined plans for his comany's expansion into the online travel market. His key points, made in the company's earnings conference call:

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Posted by David Jackson on February 1, 2005 at 07:00 AM in Sub-sector: Travel, ticker: IACI, ticker: OSTK, ticker: PCLN | Permalink | Comments (0) | TrackBack (0)

January 12, 2005

Yahoo expanding in travel?

Yahoo! is hiring, this time for Yahoo! Travel. Positions? Director of Product Management, engineers in content management and travel search, and posts in business intelligence and business operations. (You can view the job descriptions here.)

Travel search? Yes.

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Posted by David Jackson on January 12, 2005 at 12:09 AM in Sub-sector: Travel, ticker: CD, ticker: IACI, ticker: PCLN, ticker: TSG, ticker: TZOO, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

January 10, 2005

Interesting timing for IACI exercise of eLong warrant

eLong, the Chinese online travel service provider, issued a press release announcing that IACI has completed the purchase of 17,362,134 shares of eLong stock for $6.21 per high-vote ordinary share, the equivalent of $12.42 per ADS. eLong's ADS is currently trading at about $15.80.

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Posted by David Jackson on January 10, 2005 at 01:09 PM in Sub-sector: Travel, ticker: IACI, ticker: LONG | Permalink | Comments (0) | TrackBack (0)

PriceGrabber adds travel

Comparison shopping engine PriceGrabber has expanded into travel.

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Posted by David Jackson on January 10, 2005 at 12:37 AM in Sub-sector: Travel, ticker: CD, ticker: CTRP, ticker: IACI, ticker: OSTK, ticker: PCLN, ticker: SHOP, ticker: TSG, ticker: TZOO, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

January 05, 2005

New SideStep web site threatens online travel companies

Travel search engine company SideStep released a web-based version of its travel search covering flights, rental cars and hotels, at SideStep.com. (Story via ClickZ here.) SideStep plans to make money by selling ads next to search results. It has a pay-per-click (PPC) deal with Overture (owned by Yahoo!) and also plans to sell its own PPC and graphical cost-per-page-impression (CPM) ads.

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Posted by David Jackson on January 5, 2005 at 01:49 PM in Sub-sector: Travel, ticker: CD, ticker: CTRP, ticker: GOOG, ticker: IACI, ticker: PCLN, ticker: TZOO, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

December 30, 2004

Five Internet danger signs to watch for in 2005

The next few weeks will likely see a flurry of predictions for 2005, to the point where you'll be sick of reading them. So instead, I'm providing something which I hope will be more useful for investors in Internet stocks and managers of Internet companies: a checklist of danger signals for Internet investors to look out for next year. For each danger signal, I've specified which stocks will subsequently be at risk:

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Posted by David Jackson on December 30, 2004 at 11:03 PM in Sector Themes, Sub-sector: Content, Sub-sector: E-finance, Sub-sector: E-tailing, Sub-sector: Search, Sub-sector: Travel, ticker: AMZN, ticker: ASKJ, ticker: BFLY, ticker: CNET, ticker: CTRP, ticker: EBAY, ticker: GOOG, ticker: HOLL, ticker: IACI, ticker: MSFT, ticker: NFLX, ticker: NILE, ticker: OSTK, ticker: PCLN, ticker: RATE, ticker: SHOP, ticker: TSCM, ticker: TZOO, ticker: YHOO | Permalink | Comments (5) | TrackBack (4)

eCost-co?

Online retailer eCost announces this morning that it's launching a new membership club, Bargain Countdown Platinum, for $30 per year. Here's what you'll get: exclusive access to member-only products and pricing, a best-price guarantee, priority telephone support, and 10% off travel booked through eCost. Of note:

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Posted by David Jackson on December 30, 2004 at 09:19 AM in Sub-sector: Travel, ticker: ECST, ticker: IACI, ticker: OSTK, ticker: PCLN, ticker: SHOP, ticker: TZOO | Permalink | Comments (0) | TrackBack (0)

December 29, 2004

PPC marketing costs to rise for online travel companies?

ClickZ reports that travel search engine Kayak.com is planning a large advertising campaign for early next year, in which it will purchase pay-per-click ads from Google and Overture.

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Posted by David Jackson on December 29, 2004 at 07:01 AM in Sub-sector: Travel, ticker: CD, ticker: GOOG, ticker: IACI, ticker: PCLN, ticker: TZOO, ticker: YHOO | Permalink | Comments (0) | TrackBack (0)

December 22, 2004

Quotes from the IACI spin-off conference call

Uncovering value through the spin-off: "...we did not think it was wise for us to grow larger in travel inside IAC, because then all of our other assets would be completely obscured."

Whether the spin-off will impede IACI's ability to bundle destination services with travel: "I don't think that it is going to have any real impact on our ability to offer destination content... We have a nice leg up on our competitors because of our relationship today with the sister companies, EPI, Ticketmaster, Citysearch, for example. Over the next months we will work to create long-term agreements so that we can have these relationships in place for some time going forward."

Whether the spin-off will impede the roll-out of loyalty programs across the IACI brands: "...we have got about 36 actually different arrangements between the Travel companies and between what will be in Expedia and IAC. Each one of those is going to be hardwired as a commercial agreement."

Future growth prospects of the travel business: "The travel marketplace as you know, the domestic travel business in the U.S. alone is a $190 billion business. European online travel is estimated at 20 billion but 5 percent online. And Asia-Pacific is just getting started; the penetration there is 1.5 percent. So we think the expansion opportunities in travel are huge in scope."

(Quotes are from the CCBN StreetEvents transcript)

Posted by David Jackson on December 22, 2004 at 09:04 AM in ticker: IACI | Permalink | Comments (0) | TrackBack (0)

December 21, 2004

IACI spin-off is an admission of failure

The WSJ reports this morning (paid subscription required) that Barry Diller is planning to break up IACI.

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Posted by David Jackson on December 21, 2004 at 08:40 AM in Sub-sector: Travel, ticker: CD, ticker: HOLL, ticker: IACI | Permalink | Comments (1) | TrackBack (0)

December 20, 2004

Rent.com aquisition makes Homestore look cheap

American Technology Research analyst Mark Mahaney argues that eBay's acquisition of Rent.com makes Homestore look cheap. "The deal highlights the potential under-valuation of Homestore.com -- HOMS has arguably the #2 rental housing Website, the leading home buying Website, and trades at under 2X 2004 revenue." In contrast, eBay paid over 10 times revenues for Rent.com.

If that's right, why didn't eBay buy Homestore.com?  In fact, for that matter, why hasn't anyone bought Homestore.com?  IACI is in pushing into the real estate/mortgage financing listings business, but also hasn't found Homestore.com attractive.

Posted by David Jackson on December 20, 2004 at 01:11 PM in ticker: EBAY, ticker: IACI | Permalink | Comments (2) | TrackBack (0)

November 04, 2004

InterActiveCorp (IACI) discusses the online travel market (3Q04 conf call)

IAC's stock rose 15% today after it reported earnings that beat analysts' expections.  But IAC CEO Barry Diller and CFO Dara Khosrowshahi admitted to challenges in the online travel market.  Here are IAC's results and the key issues IAC faces in 200 of their own words:

(I'm providing these excerpts as a prelude to a series of non-consensus pieces discussing Internet trends and how they will impact the results of the leading Internet companies.)

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Posted by David Jackson on November 4, 2004 at 12:08 PM in Conf call quotes, Sub-sector: Travel, ticker: IACI | Permalink | Comments (0) | TrackBack (0)