June 27, 2002 |
Online travel company Priceline.com Inc. lowered its revenue forecast due to slower June sales, sending its stock sliding more than 30%. The news came just three weeks after the company reaffirmed its second-quarter outlook. Priceline shares closed down 97 cents at $2.83 on Nasdaq after tumbling as low as $2.48, their lowest point since September.
November 2, 2001 |
Priceline.com Inc. on Thursday reported better-than-expected operating profit for the third quarter and raised its forecast for the fourth quarter, sending its shares up in after-hours trading. The Internet travel agency earned $6.29 million, or 3 cents a share, in the third quarter, compared with a loss of $2.22 million, or 1 cent, a year ago, excluding one-time items in both periods. The company said it benefited from cost-cutting amid a decline in bookings. Sales fell 12% to $302 million.
October 3, 2001 |
Priceline.com Inc. said that it expects third-quarter revenue at the high end of its range of $280 million to $300 million, and that demand for its online travel services is recovering faster than expected in the wake of the Sept. 11 attacks on the United States. Analysts had forecast revenue of $287 million at Priceline.com, compared with $341 million a year ago.
September 21, 2001 |
Priceline.com Inc. said two companies controlled by Hong Kong's richest man were no longer seeking approval to sell shares in the online travel auction company and could increase their holdings to 37.5%. The move comes as Priceline has been hit by a falloff in travel bookings after last week's terrorist attacks in the U.S. Cheung Kong Holdings Ltd. and Hutchison Whampoa Ltd.
August 7, 2001
Delta Air Lines Inc. filed to sell 10 million common shares of Priceline.com Inc., which sells airline tickets and hotel rooms online. Delta most recently reported holding the equivalent of 23.2 million shares in Norwalk, Conn.-based Priceline. Atlanta-based Delta plans to sell 10 million of its Priceline.com shares "as soon as practicable," according to a filing with the Securities and Exchange Commission. The filing listed the market value of the Priceline.com shares at $83.8 million.
August 1, 2001 |
Who says you can't make money on the Internet? Priceline.com Inc., the beleaguered Internet retailer, reported its first profit Tuesday amid rising hopes among investors. The name-your-own-price vendor of airline tickets, hotel rooms and other services said second-quarter net income reached $11.7 million, or 5 cents a share, on a pro forma basis, meaning the company excluded certain expenses.
June 6, 2001 |
Two Asian conglomerates controlled by Hong Kong's richest man said they would buy an additional 25 million shares in Priceline.com Inc. in a deal that could help the popular U.S. Internet travel and commerce site expand overseas. Cheung Kong (Holdings) Ltd. and Hutchison Whampoa Ltd.--multinationals with diverse holdings ranging from hotels to Internet operations--will boost their joint stake in Priceline to 30% with the latest purchase.
May 10, 2001 |
A pay-to-play online games venture, backed by Walt Disney Co. and hatched in the "idea factory" of Priceline.com Inc. founder Jay S. Walker, is set to launch next month amid a multimillion-dollar promotional blitz. Boasting $1-million prizes, the venture smacks of Internet gambling. Disney, however, says that's not the case. Even so, a plunge into pay-to-play games may pose public relations problems for the family-entertainment firm.
May 8, 2001 |
Priceline.com Inc. said it named Chairman Richard Braddock to replace Daniel Schulman as chief executive, effective immediately. The company also said that Chief Operating Officer Jeffery Boyd was appointed president. Schulman led Priceline.com as it tried to recover from breakdowns in its customer service, the failure of an affiliated business and the departure of Chief Financial Officer Heidi Miller. Schulman joined the company in June 1999 from AT&T Corp.
April 3, 2001 |
Priceline.com Inc. said its first-quarter loss will be about 5 cents a share as the Internet seller of airline tickets and hotel reservations cut costs and took less time to respond to customers. Its shares rose 21%. The loss, excluding restructuring charges, supplier warrants and stock-based compensation, will be "at the favorable end" of its February estimate of 5 cents to 7 cents. Priceline has fired 34% of its staff and postponed expansion plans. Shares of Norwalk, Conn.-based Priceline.