Lakeway, NY -- (SBWIRE) -- 02/27/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Shares of Priceline.com Inc (NASDAQ:PCLN) rose by $6.95 or 1.03% to close at $678.49 on Tuesday after the biggest online travel agency by market value posted its fourth quarter profit which beats analyst estimates.
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For the quarter ended profit jumped 26% to $349 million or $6.77 a share surpassing analyst estimate of $6.53 a share, according to data compiled by Bloomberg. Revenue jumped 20% to $1.19 billion.
International bookings increased 40% to $5.49 billion in the fourth quarter, accounting for 83% of total bookings.
The company forecast first-quarter profit, excluding certain costs, of $4.90 to $5.30 a share, compared with $5.10, the average estimate of analysts.
“Given the uncertainty surrounding worldwide economic conditions, particularly in Europe where much of the company’s business is concentrated, the company believes the variability around its guidance is elevated,” Priceline said in the statement.
“It is a combination of more cross-border travel and you’re also seeing more travel from Chinato Europe,” said Dan Kurnos, an analyst at Benchmark Co., who recommends buying the shares. Also, “Priceline invested in some of the emerging markets first,” he said.
General Electric Company (NYSE:GE) said that its finance arm is in the final stage of a regulatory review determining whether it needs extra scrutiny because of the risk that its potential failure would pose to the U.S. economy.
How Should Investors Trade GE After The Solid Momentum? Find Out Here
General Electric Capital Corp. “is under consideration for a proposed determination as a nonbank systemically important financial institution,” Fairfield, Connecticut-based General Electric said today in a filing. “Such a determination would subject GECC to proposed enhanced supervisory standards.”
General Electric was tagged under consideration to be deemed systemically important and companies tagged so could see dividends and buybacks curbed as regulators try to head off a repeat of the 2008 crisis that almost destroyed the banking system. The Financial Stability Oversight Council is evaluating which companies must submit to Federal Reserve supervision.
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