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Lagging 2021 travel stock could soon play catch-up

Booking Holdings may be about to book some gains.

So says JC O’Hara, chief market technician at MKM Partners, who sees potential in the travel services name as it lags its rivals year to date.

Though Booking is up more than 10% this year, other travel stocks are winning out, with Spirit Airlines, JetBlue and Expedia logging some of the largest returns.

“A lot of the travel names have basically moved sideways since March,” O’Hara told CNBC’s “Trading Nation” on Friday. “But Bookings is breaking out. … If it holds its current levels, it would be a

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Splunk Stock Dives on CTO Departure. Here’s What Wall Street Is Saying.

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Splunk’s CTO is stepping down at a pivotal time for the data analytics company.


Tiffany Hagler-Geard/Bloomberg


Splunk

stock fell sharply Friday after the data analytics company disclosed that Chief Technology Officer
Tim Tully
is leaving to become a partner at the Silicon Valley venture-capital firm Menlo Ventures.

Tully, who joined the company in 2017, will depart effective May 4.

“I’ve been fortunate enough to spot top talent and work with great technical leaders and entrepreneurs during my operating career,” Tully said in a statement. “And now joining the venture side, I’m excited to help grow and create transformational

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NYC’s Hotel Penn to Be Razed as Vornado Plans Stock Spinoff

Photographer: ymgerman/iStock/Getty Images

Vornado Realty Trust plans to create a tracking stock centered on its development projects around Manhattan’s Pennsylvania Station, which will include a new tower the company intends to build in place of the Hotel Pennsylvania.

The real estate investment trust will “permanently close and raze the hotel to create the premier development site in town,” Chairman and Chief Executive Officer Steven Roth said in his annual letter to shareholders Friday. “This decision was inevitable. The Pennsylvania may have been a grande dame in its time, but it is

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Discount Airlines Tap Stock Market as Investors Bet on Travel Recovery

As air travel shows more signs of rebounding from its pandemic lows, airlines that focus on offering cheap fares to leisure travelers are cashing in on the stock market.

Frontier Group Holdings Inc.’s initial public offering raised $570 million after shares of the Denver-based budget carrier were priced at $19 each. Sun Country Airlines Holdings Inc., which largely flies Midwesterners to sunny vacation locales, raised more than $250 million in its initial public offering in March.

U.S. airlines lost some $35 billion last year, and most are still losing money. But the stock-market offerings are a sign that investors are

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