Updated from 5:51 p.m. ET to add comments from American Airlines, latest share prices.
NEW YORK ( TheStreet) -- Shares of Orbitz Worldwide (OWW) soared in late trades on Wednesday after a state court reportedly ordered AMR Corp.'s (AMR) American Airlines to return its flight and fare information to Orbitz's Web site.
reported an Illinois court has granted the request for injunctive relief from
Travelport, which owns roughly half of Orbitz.
Orbitz shares were last quoted at $3.20, up 45%, on volume of nearly 250,000, according to Nasdaq.com. Based on a regular session close at $2.21, the stock was down nearly 60% so far in 2011.In a statement emailed to TheStreet, an Orbitz spokesperson confirmed the court's decision, and called the decision "a win for transparency, consumer choice and for all of our mutual customers." "Effective immediately, American Airlines full schedule of flights are ordered by the court to be made available on both Orbitz.com and Orbitz for Business," said Brian Hoyt, vice president, communications & government affairs, at Orbitz, adding later: "Orbitz continues to believe that it is in the best interests of both companies to work towards a long term agreement to continue distribution of American Airlines content to our millions of mutual customers." In its own statement on the decision, American Airlines said it "fundamentally" disagrees with the court's order. "We want to underscore that this is the exact opposite conclusion than that of the judge who heard the evidence," the company said. "We are evaluating our options, but in the meantime, we will, of course, comply with the judge's order."
Exide TechnologiesShares of Exide Technologies (XIDE) fell sharply after Milton, Ga., energy technology company's latest quarterly performance missed Wall Street's expectations as it held back on price increases and forecast a year-over-year decline in profits in the current quarter. After Wednesday's closing bell, Exide reported adjusted earnings of $12.9 million, or 15 cents a share, for its fiscal fourth quarter ended March 31 on net sales of $774.5 million, down from a year-ago equivalent profit of $37.5 million, or 49 cents a share, on sales of $714.7 million, and below the average estimate of analysts polled by Thomson Reuters for earnings of 25 cents a share in the March period. "Fiscal fourth quarter net sales increased more than eight percent over the prior year fourth quarter due to selective market share gains and improving volume related trends in virtually all of our segments," said Jim Bolch, the company's president and CEO, in a press release. "For the most part we held pricing steady in the face of rising commodity and fuel costs with the intent of securing new volume."
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