Priceline Group Inc.'s stock tumbled $141.22, or 9.7%, in active midday trade Monday, putting it on track to suffer the biggest one-day price drop in its 16 1/2-year history, after the online travel services giant provided a disappointing profit and bookings outlook for the current quarter. Volume is 1.31 million shares, or about double the full-day average of about 635,000 shares, according to FactSet. The second-biggest one-day price drop was when it lost $138.75, or 14%, on May 3, 1999, which was soon after Priceline went public on March 30 of that year. The last time the stock suffered as much as Monday on a percentage basis was when it tumbled 12% on May 11, 2010, after the company reported quarterly results and gave a disappointing outlook.
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