Priceline (PCLN) has crossed a big line. The stock briefly topped $1,000 a share yesterday in the 3pm hour, after the Fed announced there'd be no taper. Priceline stock is up 56-percent year-to-date.
Food giant ConAgra (CAG) has just come out with an earnings miss. The company posted adjusted profits of 37-cents a share, 2-cents below estimates. Revenue was also about $90-million below expectations. The company is citing soft sales, plus changes in merchandising. There is also what it calls a significant investment in new products being attributed to the disappointment. ConAgra is up 7% this year. That's in spite of an 8% drop over the past month.
Also reporting this morning is Rite Aid (RAD) which came in with a healthy beat. The drug store chain swung to a profit of 3-cents. Expectations were for a loss of 4-cents. Rite Aid also beat on revenue which hit $6.3-billion. Even ahead of this report, the stock was up 165%year-to-date and trading at its highest level in 5 1/2 years.
Microsoft (MSFT) is holding an analyst meeting today. There will be plenty to discuss at the event: the company's share buyback program announced two days ago, the effort to replace CEO Steve Ballmer, and the recent purchase of Nokia's handset unit. Microsoft shares are up 21-percent year-to-date.
- Information Technology