To: grogger who wrote (1817 ) 9/11/1999 2:22:00 PM From: Sharise Brown Read Replies (1) | Respond to of 2743
Priceline's stock has lost about two-thirds of its value since setting a high of 165 in April. 9/7/99 Expedia to customers: name your hotel room price news.cnet.com MSFT started the week by announcing its intention to enter the name-your-own-price market for hotel rooms (called Price Matcher) in a format that seems strikingly similar to the patented Priceline model. PCLN stock tanks ... Note: Paul Allen owns 6% of PCLN and as we all know the man co-founded MSFT. I wouldn't want to be the pee-on manager who decided to cost Paul Allen Millions, if not billions of $$$ in paper profit ... I guarantee you, the person will be losing sleep the next couple of weeks. THE HYPE FOLLOWS: 9/08/99 Janney Mntgmy Scott initiates an Accumulate rating on PCLNbiz.yahoo.com Note: This fella obviously didn't know about the MSFT news. The MSFT news was released late Tuesday and the Media started the Hype Wed. morning. Warburg Dillon put a buy on PCLN -- analyst Sara Zeilstra puts a buy on PCLN and a hold on EBAY and AMZN??? 9/09/99 RESEARCH ALERT-Priceline.com resumed as outperformbiz.yahoo.com -- Mary Meeker said thinks Priceline.com's shares should be higher by year-end owing to solid fundamentals momentum, but the firm can't rule out ongoing near-term volatility and would note ongoing valuation concerns. Note: Morgan Stanley was the lead underwriter on Priceline.com's IPO, which priced in last March. If not for the queen of hype, Jay Walker wouldn't have gone to Morgan Stanley to be the lead Manager of the IPO. 9/10/99 BancBoston Robertson Stephens Reiterates Strong Buy Rating on PCLNbiz.yahoo.com -- Keith E. Benjamin & Lauren Cooks Levitan said, "while this move surely spooked investors, we do not view Microsoft's stated move as a particularly significant threat. In fact, we believe the publicity may actually help generate attention to the model and bring business to Priceline in the short-term. For example, traffic on Priceline's Web site doubled following the announcement, likely fueled by the media attention and free PR." And we thought selling a KIDNEY is the only way to get attention. Note: BancBoston Robertson Stephens was a co-underwriter on Priceline.com's IPO, which priced in last March . 9/10/99 Priceline.com Reiterated `Buy' at DLJnews.com --The 12-month target price is $190.00 per share Note: DLJ was a co-underwriter on Priceline.com's IPO, which priced in last March . 9/10/99 Priceline.com Sets One-Day Sales Record, Sells Over 10,000 Leisure Airline Tickets corporate-ir.net Note: I don't know what to make out of all of this, but thank God I'm not long ... and I certainly wouldn't want to be short... I wouldn't risk my thousands of dollars against the hype PCLN generates and the billions of dollars rich and powerful folks have tied into this stock. I wouldn't be surprised if in the next couple of weeks, MSFT and PCLN reached into an agreement about this. Meanwhile the Hype continues ....