- Big Shareholders Ask Goldman to Cut Bonuses: Report
- GE, Vivendi $1 Billion Apart over NBCU Stake: Report
- In Wall Street's Back Yard, Unemployment Rises
- Dell Shares Smacked as Earnings, Sales Miss Forecasts
- US Senators Want Probe into Alleged Yuan 'Manipulation'
- Oprah to Leave Syndication in 2011
- The Art of the High-End Comic Strip
- Heidi Klum Wows Crowd at Victoria's Secret Show
- House Panel OKs Plan to Open Fed Policy to Audits
- Drugs, Booze and Vegas
- Expect a 5-10% Market Pullback: Stock Picker
- Dell Has Some Explaining to Do
- 3 Stock Picks for This Volatile Environment: Portfolio Manager
- Tamminen: California Is At It Again
- Iverson Wasn't A Popular "Answer"
- Nov. 19: Unusual Volume Leaders
- 3 Financial Stocks May Lead Final Rally: Market Researcher
- My Top 10 Marketing Ideas For Winless Nets
- AirAsia swings back to $38.4 million profit in Q3
- Volkswagen board moves closer to Porsche merger
- Liberace, Cruise, Palin among Winfrey's highlights
- Malaysia's economy shrinks 1.2 percent in Q3
- Serbia launches tender for landline phone operator
- San Francisco's health care a model during debate
- Free clinics tied to health care debate
- China's CNPC agrees to expand Sudan refinery
- S. Korean minister nixes new US trade negotiations
Text Size 
NEW YORK - Shares of Priceline.com Inc. hit a nine-year high Tuesday, rising nearly 20 percent, a day after the online travel booking service posted a strong outlook, saying more customers were using it to book airfare and hotel rooms.
Priceline is picking up market share in the U.S. and Europe, it is expanding profit margins and its bookings gained momentum in the current quarter, said Kaufman Bros. analyst Aaron Kessler in a note to investors Tuesday. He boosted his price target by $40 to $240 and raised his earnings estimate for the fourth quarter by 9 percent to $1.65 per share.
The Norwalk, Conn., company said on Monday it expects net income of $1.52 to $1.62 per share, excluding items, in the current quarter; analysts polled by Thomson Reuters had been forecasting profit of $1.49 per share.
Citi Investment Research analyst Mark Mahaney credits Priceline's booking gains to its very low commission rates for hotels and good value for consumers, a plus during the recession. He raised his earnings estimate for the fourth quarter to $1.62 per share from $1.44 per share.
In midday trading Tuesday, Priceline shares soared $31.48, or 18 percent, to $205.21. They had peaked at $207.92 earlier, the stock's highest price since July 2000.
Print
Email
- Alternative energy's hot spot is making a comeback after some dark days in the past year.
- Athena Health is offering an electronic records and billing system to boost cash flow and simplify payments.
- The world’s two largest carbon emitters — the US and China — may have put a nail in the coffin of a global carbon reduction agreement.
- Every investor knows the connection between stocks and the dollar. But is there any method to the market's madness?
- NBA’s New Jersey Nets have yet to win a game this year. How can they get people to see them play?
- CNBC contributor David Pogue looks at a wireless speaker system designed to play music throughout your home.
Data is a real-time snapshot *Data is delayed at least 15 minutes