Shares of Expedia Inc fell on Monday after reports that the online travel firm's long-time chief executive, Dara Khosrowshahi, is likely to head Uber Technologies, triggering concerns his exit might hurt the company's growth. Expedia's stock dropped as much as 5.4%, recording its biggest intraday percentage loss in more than one year. According to an internal memo sent to Expedia staff, Khosrowshahi has been asked to lead Uber. "Khosrowshahi leaving is a major loss for Expedia, which will likely sell off as a result," Cowen & Co analyst Kevin Kopelman wrote in a note. Up to Friday's close of US$149.26, Expedia's stock had risen about 32% this year, compared with a 29.4% increase in the Dow Jones Internet Commerce index.

Source: The Star August 29, 2017 01:25 UTC