Stock Watch: Priceline.com Taps into Asia

Shares of name-your-price retailer Priceline.com (Nasdaq: PCLN) climbed more than five percent on Wednesday, gaining 3-5/16 to 66-1/4 after the company announced a joint venture that will tap into the Asian Market. Priceline.com is teaming up Hutchison Whampoa Limited, a conglomerate whose properties include Internet and telecommunications infrastructure business, to introduce Priceline.com’s name-your-price services to China, Hong Kong, India, Taiwan, Indonesia, Singapore, Thailand, Korea, Malaysia, the Philippines and Vietnam.

Also on Tuesday, Priceline.com said that it expects to have a strong first quarter, and the company already has set weekly sales records of 80,000 airline tickets and 20,000 hotel rooms.

Even after Wednesday’s gains, Priceline.com stock is nearly 100 points off its all-time high.

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