Market Features
- Article Tools
- Email this Article
- Print this Article
- Rss Feed
- Del.icio.us
- Digg
- StumbleUpon
-
PLAY BEAT THE STREET GAME NOW
Cendant CD, the travel-services and real estate firm that's remaking itself, reached a deal to sell its Travelport division to an affiliate of Blackstone Group. The New York-based company said it should close the roughly $4.3 billion sale in August. Cendant had previously said that proceeds from the sale of Travelport would be primarily used to reduce the debt of its Realogy and Wyndham units. At the same time, Cendant said it now expects to simultaneously spin off Realogy and Wyndham in late July. Cendant had said earlier this year it would split into four parts, with the parent company changing its name to Avis Budget, reflecting its car-rental operations. The other three segments would then be sold or spun off to shareholders. Travelport offers a range of business and consumer services, including distribution technology, travel packaging and retail sales. Among its operations is the travel-booking Web site Orbitz. Blackstone Group is a private investment and advisory firm. Shares of Cendant were gaining 59 cents, or 3.7%, to $16.36 Friday.
The company says the remaining two spinoffs could both happen in mid-July.
It backs the full-year outlook.
A bid for the travel spinoff sends the stock higher.
Apple and AT&T were among the most searched stocks on TheStreet.com Friday. Here's what Cramer had to say about them recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Looking for deep value with Defiance Asset Management, polling big investors about where the market's headed, plus much more.
See who made what calls.
3 Stocks I Saw On TVDan Fitzpatrick examines three stocks viewed on Fast Money and Mad Money Today's stocks include Deere & Co., Petrobras and MBIA
TheStreet.com Ratings checks in on First Community Bancorp and First Niagara Financial Group two months after recommending the stock.
Take-Two's latest hit receives a perfect score from industry reviewers.
- Cramer's 'Mad Money' Recap: Mad Money's Rally Playbook
- The Polycarbonate Price Cut
- CalPERS Pushes for Clean House at Standard Pacific
- Investing in China: What You Need to Know
- Coming Week: 'Glimmer of Hope'
- Top Stocks With Insider Buying, Buybacks
- New Solar ETF Helps Spread Sector's Risk
- Feuerstein's Biotech-Stock Mailbag
- Need to Own Energy? Here's How to Do It
- My Company Doesn't Provide Health Insurance (Gulp!)
Sponsored by:
RSS
