Diamonds and Dogs
11/8/16
The price is right for Priceline (PCLN). The online travel specialist is jumping 6% to a new 52 week high following better than expected earnings even with a write down related to its OpenTable business. Priceline's third-quarter results continued the company's streak of solid performance. Revenue was up 19%, to $3.69 billion, topping the $3.62 billion consensus. Adjusted net income jumped 20%, to $1.57 billion easily beating estimates. Looks like Priceline can take a vacation after these results.
Hertz Global (HTZ) cut in half. Hertz Global, which operates Hertz, Dollar, and Thrifty vehicle rental brands, is down 50% after reporting third-quarter earnings well below expectations as sales of $2.54 billion missed estimates as well. The company also cut its full-year profit outlook for the year. Can you say Uber.
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