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Bill Maurer
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Bill Maurer, in addition to writing for Seeking Alpha, is currently a part-time trader. Bill holds a Bachelor of Science Degree from Lehigh University, where he double majored in Finance and Accounting, with a focus on Investments and Financial Analysis. While at Lehigh, he was a Head Portfolio... More
  • Priceline Whipsaws in After-Hours 0 comments
    Nov 7, 2011 7:39 PM | about stocks: PCLN, EXPE, OWW, TZOO
    Shares of Priceline (PCLN) had a wild ride in after-hours after the company reported its latest quarterly results. Revenues of $1.5 billion and net bookings of $6.3 billion were well ahead of expectations. EPS (Non-GAAP) was $9.95, compared to $9.17 for GAAP EPS, while expectations called for $9.30.

    Guidance seemed a bit low, but the company's guidance has been rather conservative the past few quarters which has allowed big beats.

    Priceline initially dropped to $475 in the after hours after closing at $509. But it then rebounded to $500, and as after hours gets ready to end, it is now above $520. In my Priceline earnings preview, I predicted a 4 to 7% gain on Tuesday, and that seems possible giving the after hours action.

    Priceline still is rather expensive when compared to Expedia (EXPE), and Orbitz has had a 50% plus run up in the past week, after its earnings. Travelzoo (TZOO) has also had problems over the past year.
    Stocks: PCLN, EXPE, OWW, TZOO
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