Expedia Downgrade Sinks XRT
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SPDR S&P Retail ETF (NYSE: XRT) is lower by 1.3 percent, as shares of Expedia Inc. (Nasdaq: EXPE) traded lower by 2.63 percent. Lazard Capital Markets downgraded the company from to neutral from buy, citing high valuation relative to guidance.
XRT is up over 10 percent so far this year, over twice as much as the SPY, which tracks the S&P 500.
EXPE makes up 1.42% of the assets of XRT.
XRT is up over 10 percent so far this year, over twice as much as the SPY, which tracks the S&P 500.
EXPE makes up 1.42% of the assets of XRT.
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