Priceline Surges in Extended Trading on Second Quarter Earnings

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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."
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