Diamonds and Dogs
Ice Ice baby! Today's diamond, Intercontinental Exchange (ICE) rose 7% back toward the 52 week high following double-digit earnings growth for the seventh straight quarter. Earnings actually accelerated to 20% year-over-year making it the best quarterly report in the company's history. Looking forward, the company will continue to integrate recent acquisitions to capture $90 million in synergies this year. Its ability to do that will be key to keeping its double-digit earnings growth streak alive.
Might want to find a different negotiator when it comes to hotels because today's dog isn't doing well. The price was wrong today for Priceline's stock (PCLN) falling over $100 or 7.5% following lower quarterly earnings. The forward guidance wasn't any better. The company now expects earnings for next quarter of $11.60 to $12.50 a share far lower than consensus of $14.98 a share. Revenue will only improve by 7% to 14% verse consensus of 16.4%. Not sure what this is saying about vacationers, but not good news for Captain Kirk.
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