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Priceline.com (NASDAQ:PCLN) has been one of the momentum stocks of the past few years which has not participated as much in 2012. Until the past few weeks it has been range bound in a massive area of $440 to $560 for much of latter 2011 and early 2012. That changed a few weeks ago, and last night’s earnings report soothed the concerns over the business, which is heavily focused on Europe. The stock has gapped up and like just about every stock this quarter, reducing exposure ahead of earnings has been an exercise in lost opportunity.
(as an aside if these large dollar stocks are hard for you to digest, simply take off the zero at the end of the price – i.e. think of Priceline jumping from the $59s to $63s today.)
The growth metrics here continue to impress – revenue up 35% and EPS (ex items) up 58%.
Once more, this is another in the pantheon of “U.S. companies” that are very international in nature
The earnings forecast also beat expectations by analysts but revenue was a tad light.
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). Trader Mark also authors the blog Market Montage.
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