Orbitz: U.S. Online Travel Spending Up

Orbitz Worldwide, Inc. OWW is seeing results from the ongoing recovery in travel demand as seen by the 7% increase on travel spending in May 2010, causing Benchmark to increase its full year U.S. online travel spending forecast to 6% over 5%. Corporate travel and domestic online spending on air travel is increasing, also evident in Europe, with occupancy levels up from 5-8% in 2Q alone, according to Benchmark. Benchmark maintains its "buy" rating and $8 price target. Orbitz Worldwide, Inc. closed yesterday at $4.88.