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Orbitz Shares Fall on Lower Growth Forecast

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  • Description

    FBN’s Adam Shapiro on Orbitz cutting its full-year growth forecast.

  • Duration 0:53
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I'm Adam Shapiro we -- Fox Business -- the Federal Reserve is giving the financial industry more time to give -- two cents on implementing global capital rules.

The Fed has extended its comment period on Basil read a late October from the original date September 7.

The US is required to adopt the global rules by January.

Shares of -- are being hit hard today after the company cut its full year growth forecasts and second quarter results fell short.

But Wall Street expectations Orbitz says it now sees full year revenue climbing two to 4% for the second quarter the company reported earnings of four cents on revenue of 201 million dollars.

And shares of -- and brands are trading higher in their market debut after the company.

Cut the size and price of its IPO bloom and sold sixteen million shares at eleven dollars each raising 176.

Million bucks.

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