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Booking joins peers in beating Wall Street estimates after holiday travel boom

Booking Holdings rose more than 5% in aftermarket trading as the company reported fourth-quarter earnings results that beat Wall Street’s estimates.

The online platform, which owns Booking.com, OpenTable, and Kayak, reported adjusted earnings per share of $41.55, sharply above the $36.08 analysts polled by FactSet were expecting. Booking Holdings also beat estimates for revenue and gross bookings, an industry metric that measures how much users spent on the company’s platforms.

Booking also said it authorized as much as $20 billion more in share buybacks, which is in addition to the $7.7 billion left from the last time the board authorized a buyback. (For perspective, the company had a roughly $166 billion market cap before results were released.) It also boosted its quarterly dividend.

Booking is the latest travel company to release a cheery earnings report after a holiday travel surge. Airbnb and Expedia both topped analysts’ estimates earlier this month.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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