Priceline Group Inc PCLN shares are trading lower by $118 at $1331.90 in Monday's session. Despite a Q3 beat for EPS of $1.12 with slightly higher sales, the Street is focusing on lower Q4 guidance from estimates of $12.42 to the $11.10-$11.90 range.
The decline in pre-market trading has continued into the regular session. So far, it has reached $1135.20 and is not far off that level. Keep in mind, the issue rallied from its August 24 low ($1151.01) to a new all-time high on Thursday at $1476.52 and posted its all-time closing high last Wednesday at $1469.59.
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
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