Priceline.com ( PCLN), the "Negotiator," had certainly seen its stock price negotiated lower the past few weeks. The stock is nearly 15% below its all-time high set in April. The company is a quintessential UPOD: under-promise and over-deliver. That is what it did again this time around. The company over-delivered for the first quarter and under-promised for its second quarter. The earnings report was a blowout, with earnings of $4.28 exceeding estimates of $3.95. The company has reported an average 8% beat on estimates over the last five quarters. But when guiding forward, the company issued these painful words: "Economic conditions in Europe remain a challenge and are reflected in the lower relative growth rates in southern peripheral countries and a weakening of the euro, which puts pressure on our dollar-denominated results. We also now see changes in the political environment which add additional uncertainty." >>5 Tech Stocks to Buy Instead of Facebook We know that in the U.S. and for U.S. citizens, travel is up. Walt Disney (DIS) confirmed that to investors with its earnings report. The strong U.S. dollar should actually help with travel abroad. Priceline.com is set to grow earnings by 35% in 2012 (despite the disappointing guidance) and by 25% in 2013, yet the stock sells for about 21 times current year's earnings. That is a PEG of well below 1, making it one of the cheapest stocks in this portfolio. As of the most recently reported quarter, Priceline shows up in Lone Pine Capital's portfolio and is also one of the top holdings at Lee Ainslie's Maverick Capital.