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AMZN Amazon.com Inc

185.82
1.10 (0.60%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Amazon.com Inc NASDAQ:AMZN NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.10 0.60% 185.82 185.60 185.92 187.87 185.42 186.99 39,172,159 05:00:04

TECH STOCKS: Priceline Among Gainers As Tech Stocks Rally

11/08/2014 10:10pm

Dow Jones News


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By Rex Crum, MarketWatch

Internet travel giant gets a boost after upbeat results

SAN FRANCISCO (MarketWatch) -- Tech stocks started the week off with broad gains Monday, highlighted by upbeat reaction to Priceline.com Inc.'s second-quarter earnings results.

Priceline (PCLN) shares rose 2.2%, to close at $1,309, after the company reported a second-quarter profit, excluding one-time items, that topped analysts' expectations. But it issued a weaker-than-expected third-quarter outlook, which investors appeared to quickly shrug off.

"While the third-quarter guidance appears a tad light," said Naved Khan, an analyst at Cantor Fitzgerald. "Which may cause the stock to fluctuate short-term, we note that historically, management's guidance has proven to be conservative and [the] third quarter is also seasonally the largest for Priceline."

Other online travel sites also rose Monday, with Expedia Inc. (EXPE) up 1.7% to close at $83.94 and Orbitz Worldwide Inc. (OWW) edging up by 2 cents a share to end the day at $8.88 a share.

Amazon.com Inc. (AMZN) 0.5%, to $318.33 after the e-commerce giant stopped taking pre-orders for DVDs and Blu-Ray discs for Walt Disney Co. (DIS), reportedly due to a contract dispute between the companies.

Other tech stocks that rose included Apple Inc. (AAPL), Netflix Inc. (NFLX), Facebook Inc. (FB) and Hewlett-Packard Co. (HPQ).

The Nasdaq Composite Index (RIXF) rose 30 points to close at 4,401 and the Philadelphia Semiconductor Index (SOX) rose 1% on the day.

More must-read tech news from MarketWatch:

Amazon halts pre-orders of Disney video titles

Is Zynga cannibalizing itself?

What to look for in Cisco's upcoming earnings

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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