NEW YORK (TheStreet) -- Orbitz Worldwide
(OWW - Get Report) stock is sliding on Monday after the online travel agency reported a wider-than-expected net loss in its first quarter.
By midday, shares had tumbled 4.5% to $7.09.
Over the three months to March, the company reported a net loss of 5 cents a share and revenue of $210.26 million. Analysts surveyed by Thomson Reuters had forecast a net loss of 2 cents a share and revenue of $206.48 million.
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TheStreet Ratings team rates ORBITZ WORLDWIDE INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ORBITZ WORLDWIDE INC (OWW) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its notable return on equity, revenue growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and weak operating cash flow."
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