Online travel agency stock fall on bad results, global slowdown
Skift Take
OTAs are mirroring global macro trends, but are also hurting as airlines cut back on capacity to cut costs.
Shares of online travel agencies plunge amid shaky forecasts from Priceline.com and Orbitz
PCLN data by YCharts
Some of the best-known online travel companies say growing economic uncertainty is causing fewer people to travel, especially in Europe. Shares of the group plunged Wednesday, led by Priceline.com Inc. and Orbitz Worldwide Inc., who both cut their earnings and revenue expectations for the yea