Why Booking Holdings Stock Was Rising Today
Shares of Booking Holdings (NASDAQ: BKNG) were surging today, up roughly 5.2% as of 2:08 p.m. ET. Curiously, there wasn't any company-specific news today. But recent earnings reports and commentary from other bellwethers in the travel space, notably Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and American Express (NYSE: AXP), seemed to indicate incredibly strong current demand for travel.
Therefore, investors might be buying Booking ahead of its earnings report on May 4, anticipating a better-than-expected result and outlook.
Last night, Alphabet reported earnings that showed strong Google search growth, albeit with lagging YouTube growth (hence, why the stock is down today). Yet on the conference call with analysts, Alphabet's chief business officer Philipp Schindler pointed to very strong demand for travel:
Source Fool.com
