Priceline Shares Dive On Disappointing Outlook

Priceline Group Inc. shares fell 5% in premarket trade after the travel booking site delivered a fourth-quarter outlook that fell short of Wall Street's expectations. The company forecast adjusted earnings per share between $9.40 and $10.10, below the FactSet consensus of $10.97. This comes despite a stellar quarter for the company, where it recorded a 29% year-over-year improvement in third-quarter profit to $1.2 billion and a non-GAAP EPS of $22.16, beating the Street's view of $21.08. Revenue for the period climbed to $2.8 billion from $2.3 billion last year, matching expectations. However, its shares slumped 5.3% to $1,134 in premarket trade.