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The Steep Price of priceline's Latest Airline Deal
Fun With Math
SAN FRANCISCO -- In the first three trading days of this week, priceline.com (PCLN Quote) shares rose 35.8% to Wednesday's close of 76 7/8, stemming a steady decline that had seen them fall to as low as 52 5/8 on Nov. 5 from as high as 162 3/8 on April 30. Today, the shares fell 6.7% to 71 7/8 (more on that in a minute).
The gains earlier this week were largely attributed to the anticipation of, and reaction to, Wednesday's announcement that the operating units (a.k.a. "airlines") of UAL (UAL Quote), AMR (AMR Quote) and US Airways (U Quote) will offer seats on priceline's site. ...
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