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Longs Maintain Historical Advantage Trading Priceline.com Off Earnings-Driven Extended-Hours Moves

Priceline.com ( PCLN ) is lower in Monday's pre-market trade after beating Q2 earnings estimates, coming in shy on sales, and setting Q3 earnings guidance just below expectations.

PCLN demonstrates an aggressive tendency to widen its next day share movement following an extended-hours earnings release, doing so for 29 of the past 42 quarters.

Looking deeper into the performance data, longs should be aware that PCLN has seen a positive extended-hours earnings-driven trade in 26 of the 42 quarters we've tracked, and in 20 of those upside extended-hours moves the stock has followed that trade with a more aggressive positive run in the next day's regular session, or 77% of the time.

Shorts too may see some more aggressive next-day trade, but the historical performance is mixed. The stock has recorded downside extended-hours trade following 16 of the quarters we've tracked. It widened that extended-hours downside move in the following regular session in eight of those events.

On May 8, 2014, PCLN ended the pre-market session down 3.9% after topping Q1 expectations and setting its Q2 earnings view below the Street. The shares cut their downside in that day's regular session, closing off 2.1%.

On Feb. 20, 2014, PCLN advanced 1.8% in after-hours trade after topping Q4 earnings expectations and setting its Q1 outlook EPS outlook below the Street view. The stock firmed higher the next day, ending the Feb. 21 regular session up 2.5%.

On Nov. 7, 2013, PCLN dipped 0.6% in after-hours trade after beating Q3 expectations and setting its Q4 earnings view just above expectations. The stock reversed into the green the next day, closing the Nov. 8 regular session up 4.9%.

On Aug. 8, 2013, PCLN gained 5.4% in night trade after beating Q2 estimates and setting guidance in a range that straddled the Street view. The stock cut its upside the next day, closing the Aug. 9 regular session up 3.8%.

On May 9, 2013, PCLN declined 3.2% in after-hours trade after topping Q1 expectations but also guiding its Q2 earnings below estimates. The stock reversed direction the next day, closing the May 10 regular session up 3.7%.

On Feb. 26, 2013, PCLN gained 2.6% in evening trade after beating on Q4 EPS, meeting on revenue and setting Q1 EPS guidance in line with expectations. The stock added modestly to its upside the next day, closing the Feb. 27 regular session with a 2.8% gain.

On Nov. 1, 2012, PCLN jumped 9.5% in after-hours trade after topping Q3 estimates and guiding in line for Q4. The stock narrowed its gains slightly the next day, closing the Nov. 2 regular session up 8.3%.

On Aug. 7, 2012, PCLN tumbled 15.2% in night trade after posting in-line to better-than-expected Q2 results but also setting its Q3 EPS guidance below the Street view. The stock cratered lower the next day, ending down 17.3% in the Aug. 8 regular session.

On May 9, 2012, PCLN declined 3.5% in after-hours trade after beating Q1 earnings estimates and setting its Q2 guidance in line with expectations. The stock moved deeper south the next day, closing the May 10 regular session off 5.2%.

On Feb. 27, 2012, PCLN jumped 6.4% in night trade after posting better-than-expected Q4 results and setting its Q1 guidance in-line to above Street estimates. The stock added modestly to those gains the next day, rising 6.9% in the Feb. 28 regular session.

On Nov. 7, 2011, PCLN advanced 2.4% in after-hours trade after topping Q3 expectations. The stock added to its upside the next day, rising 8.6% by the close on Nov. 8.

On Aug. 4, 2011, PCLN surged 9.8% in evening trade after reporting better-than-expected results and guidance. The stock held the bulk of its gains the next day, but it narrowed slightly - ending the Aug. 5 regular session up 9.2%.

On May 5, 2011, PCLN gained 1.7% in night trade after topping Q4 EPS estimates, missing on revenue, and setting its Q1 EPS guidance above the Street view. The stock reversed direction the next day, closing the May 6 regular session down 2.8%.

On Feb. 23, 2011, PCLN advanced 4.5% in after-hours trade after beating Q4 EPS expectations and setting its Q1 earnings view above the Street estimate. The stock moved further north the next day, closing the Feb. 24 regular session up 8.5%.

On Nov. 8, 2010, PCLN gained 5.8% in evening trade after posting better-than-expected results and guidance. The stock surged higher the following day, gaining 8.2% by the Close on Nov. 9.

On Aug. 3, 2010, PCLN surged 16.1% in after-hours action after posting better-than-expected results and guidance. The stock jumped higher the next day, rising 21.9% by the close on Aug. 4.

On May 10, 2010, PCLN tumbled 11.9% in after-hours trade after reporting disappointing Q1 revenue and setting its Q2 EPS view below Street estimates. The stock added slightly to its downside the following day, closing the May 11 regular session down 12%.

On Feb. 17, 2010, PCLN gained 7.1% in after-hours trade after reporting better-than-expected results and guidance. The stock added to its upside the following day, closing the Feb. 18 regular session up 9.4%.

On Nov. 9, 2009, the stock was up 6.5% during evening trading after PCLN easily beat Q3 expectations and guided for a Q4 beat. Shares jumped 17.5% the next day.

On Aug. 10, 2009, PCLN leaped 8.1% in pre-market trade after reporting better-than-expected results and guidance. The stock ended the Aug. 10 regular session with a more aggressive gain, rising 14.4% by the closing bell.

On May 11, 2009, PCLN declined 1.3% in pre-market trade despite reporting better-than-expected results and guidance. The stock reversed course in that day's regular session, ending up 3.8%.

On Feb. 18, 2009, PCLN soared 12.7% in after-hours trade after blowing past Q4 expectations and setting its Q1 view above the Street view. The stock moved even higher the next day, closing the Feb. 19 regular session up 16.6%.

On Nov. 6, 2008, the stock advanced 9% in the extended-hours session after a Q3 beat. Shares jumped 16% the next day.

On Aug. 5, 2008, PCLN tumbled 15.1% in after-hours trade despite reporting better-than-expected quarterly results and guidance that straddled the Street view. It added to its downside the next day, losing 17% by the close on Aug. 6.

On May 8, 2008, the stock gained 14% after blowing past Street expectations with Q1 results. The gain was trimmed slightly, to 12%, the next day.

On Feb. 14, 2008, the stock gained 9.8% during evening trading after PCLN reported higher profit than year ago. The stock jumped 21.1% the next day.

On Nov. 8, 2007, PCLN advanced a modest 0.3% in after-hours trade after topping Q3 estimates and guiding for Q4 EPS in line to above expectations. It lost that slim gain the following day, closing the Nov. 9 regular session down 1.7%.

On Aug. 7, 2007, the stock advanced 8.7% during evening trading after easily beating estimates with Q2 results and guiding higher. The gain swelled to 22.2% the next day.

On May 8, 2007, the stock shed 2.4% in the evening hours despite beating with Q1 and guiding in line to higher. The loss gapped to 9% by the close of trading the next day.

On Feb. 12, 2007, PCLN edged up 3.6% in after hours when the company topped Q4 expectations. Shares rose further the following day, ending the regular session up 10.6%.

On November 8, 2006, PCLN jumped 6.5% in night trade after beating Q3 estimates and forecasting 2007 EPS above Street views. The shares, though, couldn't hold onto gains and closed the next day session down 1.4%.

On Aug. 7, 2006, the stock jumped 13.7% after the company topped with Q2 results and straddled the Street view with guidance. Shares improved by an even greater 16.8% the next day.

On May 3, 2006, the stock advanced 6.7% in evening trading after the company meets Q1 expectations and guides higher for the coming quarter and year. The gain swelled to 15.4% the next day.

On Feb. 16, 2006, shares fell 3.3% in the evening session after the company reported revenue shy of the Street's view, although it was ahead with EPS. The company guided for Q1 below what analysts were expecting but guided for the full year in line to the low end of the Street's view. Shares rallied 4.7% the next day.

In 2005, the stock consistently widened its evening share performance during the following day's regular session. Through 2004, the stock was evenly split in post-earnings reaction, showing two narrower share moves and two wider moves from the evening session to the next day's closing bell.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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