NEW YORK ( TheStreet) -- Expedia ( EXPE - Get Report) was the star of Thursday's extended session after the Bellevue, Wash.-based online travel services provider disclosed plans to spin off its TripAdvisor business into a separate, publicly traded company. Expedia said it expects the proposed transaction to be completed in the third quarter with existing shareholders receiving a yet to be determined proportionate distribution of stock in the TripAdvisor entity. The stock was last quoted at $25.51, up 14%, on volume of roughly 3.1 million, according to Nasdaq.com. Based on a regular session close at $22.40, the shares were down 10% in the past year. The remaining Expedia entity will include the company's domestic and international travel transaction brands, such as its namesake Web site, Hotels.com, and Hotwire. TripAdvisor supplied revenue of $486 million in fiscal 2010, up 38% year-over-year. The company's total revenue was $3.35 billion for the year. Expedia is slated to report its fiscal first-quarter results on April 25, and the average estimate of analysts polled by Thomson Reuters is for a profit of $1.81 a share on revenue of $3.71 billion.
At Thursday's regular session closing price of $14.69, the dividend implies a forward annual yield just shy of 5%. The stock advanced 7.7% to $15.82 in extended trades with volume running just above 900,000. Prior to the after-hours move, the shares were down 21.7% in the past year, including a 30% drop since the start of 2011, although they'd seen a 49% bounce since hitting a 52-week low of $9.84 in late August. Other stocks making notable moves in late trades include Hercules Offshore ( HERO), down 12% to $5.59 on volume of around 800,000 after shallow-water oil driller disclosed in a regulatory filing that its business practices are being investigated by both the Justice Department and the Securities and Exchange Commission; Idenix Pharmaceuticals ( IDIX), falling 12% to $2.85 on volume of around 60,000 after the Cambridge, Mass.-based drug developer unveiled plans to sell an undisclosed amount of additional stock in a public offering; and Sangamo Biosciences ( SGMO - Get Report), sliding 7% to $7.75 on volume of more than 40,000 after the Richmond, Calif.-based biotech said it's selling 6.7 million common shares. -- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: email@example.com