Priceline Surges in Extended Trading on Second Quarter Earnings

Priceline (PCLN) surged in extended hours trading after reporting strong earnings on Tuesday.

The stock jumped 16.6% to $269 a share at 08:02 ET in extended trading. Earnings for the second quarter were $115 million, or $2.26 per diluted share, up from $67 million, or $1.38 per diluted share a year earlier. Revenues gained 27.1% to $767.4 million.

Analysts at Citigroup and J.P. Morgan raised their share target price for Priceline after the earnings, while Stifel Nicolaus upgraded the stock to "buy" from "hold."