Booking Holdings (formerly Priceline) Message Board

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Technology Stocks : Booking Holdings (formerly Priceline)

BKNG 4,940

+0.8%

Nov 7 9:30 AM EST

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To: Glenn Petersen who wrote (2665)	6/26/2002 2:49:27 PM
From: Glenn Petersen	of 2743

PCLN getting hammered. Priceline dims its financial forecast By Reuters June 26, 2002, 6:00 AM PT news.com.com Three weeks after affirming its second-quarter outlook, Priceline.com on Wednesday lowered its revenue forecast. Priceline, which lets Web surfers name their own price for airfares, said revenue for the quarter would be about 5 percent lower than the $320 million previously anticipated. The company cited slow June sales. The Norwalk, Conn.-based company also said earnings per share would be about 3 cents, the low end of previous guidance. "Our earlier guidance was premised on steady monthly increases which we have historically experienced in airline ticket revenue throughout the quarter," Chief Executive Richard Braddock said in a statement. "Such increases did not occur in June, which is typically our strongest selling month of the year." A consensus of analysts had expected Priceline to post earnings of 4 cents a share for the quarter, according to First Call. Last week, Northwest Airlines said it has stopped providing discounted tickets to Priceline.

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