Priceline.com Jumps to Nine-Year High on Forecast
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Priceline.com Inc. jumped to its highest level in almost a decade after forecasting first-quarter earnings that beat analysts’ estimates, as worries about Europe’s economy failed to dampen demand for vacations.
The online travel agency rose $20.08, or 9.4 percent, to $232.95 at 4 p.m. New York time on the Nasdaq Stock Market, the highest level since the Internet bubble burst in 2000. The gain pushed the company’s market value to $10.2 billion.