Tech Winners & Losers: Yahoo!
Priceline (PCLN) shares climbed 15.7% to $54.46 after the online travel site beat Wall Street expectations for third-quarter results.
The company posted third-quarter earnings of $88 million, or $1.81 per share, down 16% a year earlier, helped by a tax benefit. Excluding one-time costs, the company would have earned $2.39 a share, well above the $2.10 a share expected by analysts.
Shares of Hutchinson Technology (HTCH) slipped 20.4% to $4.84 after posting an earnings miss in the fourth quarter.
The company reported a fourth-quarter loss of $105.5 million, or $4.60 a share, including a valuation allowance of $4.03 a share against its deferred tax assets, and a charge of 37 cents a share for the impairment of long-term investments. Excluding those charges, the company would have lost 20 cents a share -- far more than the 13-cent loss that Wall Street had expected.Revenue for the fourth quarter came in at $164.3 million, missing Street estimates of $167.3 million.
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