Buzzing Stocks: Groupon Plunges 19.64%, Priceline to Buy Kayak
Shares of Walt Disney (NYSE:DIS) dropped 5.18 percent in pre-market trading, despite reporting that net income rose 14.4 percent to $1.24 billion (68 cents per share), compared to $1.09 billion (59 cents per share) a year earlier. Revenue came in at $10.78 billion, slightly below estimates of $10.90 billion.
Groupon (NASDAQ:GRPN) shares plunged more than 19 percent Friday after reporting third quarter financial results. Revenue of $568.6 million missed analyst estimates of $592 million. The company also posted a net loss of $2.98 million, or zero cents per share for the quarter.
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Priceline.com (NASDAQ:PCLN) shares declined 2.61 percent in pre-market trading. The online travel agency announced it will purchase Kayak Software (NASDAQ:KYAK) in a non-hostile deal, valuing the company at $1.8 billion. Reuters reports, “Priceline is offering $40 a share for Kayak, a 29 percent premium on the company’s Thursday closing price of $31.04. Kayak shares jumped 27 percent to more than $39 in extended trading, while Priceline.com moved lower.”
Shares of Nordstrom (NYSE:JWN) fell on wednesday. The company reported that net income rose 15 percent to $146 million (71 cents per share) in the third quarter, compared to $127 million (59 cents per share) a year earlier. However, the results fell just short of the mean analyst estimate of 72 cents per share.
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