We’re TwinsTalkStocks – 9 year old twins Ashay Jorel & Devin Kalel.
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Today we’re talking about Priceline (PCLN)
The stock had quite a round-trip today.
Pun intended 🙂
CEO Darren Huston resigned from the company today.
He had a relationship with a fellow employee . . .
Who was not a direct report.
The stock was down 36 points during the regular trading session.
Priceline is up 33 points after-hours.
Because a competitor in the travel space . . . Expedia (EXPE) . . . was up 10% after-hours on an earnings beat.
Expedia’s acquisitions last year are paying off.
Last year Expedia bought Orbitz for $1.3 billion, Travelocity for $280 million, and HomeAway for $3.9 billion.
Priceline reports earnings Wednesday May 4th.
It’s beaten earnings estimates the past 7 years.
Taking over as interim CEO is Jeffery Boyd.
He’s currently the Chairman.
He was the CEO from 2002 until 2013.
When Boyd became CEO in 2002, the stock was less than $10.
Boyd bought Booking.com in 2005 for $133 million.
Booking.com is valued at $60 billion today.
That’s 90% of Priceline’s market cap.
It should be clear skies ahead for Priceline.
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