Stocks in the Headlines for Aug 8th (FB, AAPL, PCLN)
Making news today are shares of Priceline.com (PCLN), Apple Inc. (AAPL), and Facebook Inc (FB). The 'like' goes to winner Apple.
DROPPING LIKE FLIES
Priceline.com Inc (PCLN) was due for a correction. You can't be an online travel website, get to $700 a share and not expect a little kickback. Priceline shares have lost $100 since yesterday, now its in the $570 range and down 16%. The company is still solid but its guidance missed analyst estimates on yesterday's conference call. Priceline.com made a ton of cash on its international bookings thanks to its European travel site Booking.com. Going forward Priceline expects conditions in Europe to worsen which is why the stock got hit in the knees.
Facebook (FB) shares are doing the best they can to stay above $20. Facebook shares are now 5% away from its 12 month low of $19.82. That's a big un-like and a 44% drop in FB shares since its May high of $45. Facebook is making waves today by announcing plans to enter online gambling with a Bingo Friendzy application that's released in the UK. FB plans to add slot machines games in the coming weeks. That's a solid plan bank coin on Facebook junkies, what a genius business model. If at first you don't succeed with advertising just take money away from your users -- brilliant.
IN APPLE WE TRUST
Apple Inc (AAPL) shares are now just 3% from its 52-week high of $644. Apple shares are on fire in 2012, up 53% and now comfortably above $600. The internets is buzzing about the next iPhone which is putting the iPhone 4S at a discount. You can pick up an iPhone 4S for $199 via Sprint, do a quick Google search and it may be even cheaper by the time you read this crappy article. Apple is removing YouTube and Google Maps from iOS 6. What could be next, Google Search? Time will tell but Apple continues to dominate the game and the copycats can't catch up.
3 Stocks in the News for Aug 8th (FB, AAPL, PCLN)
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