This is Why Booking Holdings is Exploding Higher
Live Blog Update #2 Published
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Shares of Booking Holdings (BKNG) are up $86 to $4,322.
That’s after the travel stock gapped from about $5,100 to a low of $4,175 on AI fears. Just this morning, Gordon Haskett Research Advisors said BKNG was being overlooked because of those fears, with a buy rating and a price target of $5,440.
“We believe investors have overreacted to AI-driven competitive encroachment concerns and discounted key aspects of BKNG’s operational advantages and defensive positioning,” said the firm as quoted by CNBC.
“BKNG’s advantages, combined with high startup costs and legal risks associated with building a competing online travel platform, should serve as a deterrent to AI companies directly competing.”
BKNG also has earnings coming up on February 18.
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Shares of Spotify (NYSE: SPOT) are up $46.61, or by 11%, this morning on earnings.
Its EPS of 4.43 euros was better than the estimates for 2.74 euros. Revenue of 4.53 billion euros was also ahead of estimates for 4.52 billion euros. Active monthly users jumped 11% year over year to 751 million, which was above estimates of 744.7 million.
Moving forward, Spotify expects to grow monthly active users by eight million to 759 million, surpassing a 752.4 million estimate. Also, for the current quarter, Spotify expects revenue to total 4.5 billion euros, which is short of a 4.58 billion euros estimate.
Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.