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Priceline stock falls more than 6% after weak fourth-quarter guidance

Priceline Group Inc. PCLN, +0.45% shares fell in the extended session Monday after the company reported third-quarter earnings with weaker than expected fourth-quarter guidance. Priceline shares were down more than 6% to $1,780 after hours. The company reported third-quarter net income of $1.7 billion, or $34.43 a share, compared to $506 million, or $10.13 a share, in the year-ago period. Adjusted earnings were $35.22 a share. Revenue rose to $4.43 billion from $3.69 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $34.26 a share on revenue of $4.34 billion. For the fourth quarter, analysts estimate adjusted earnings of $15.57 a share on revenue of $2.73 billion. Executives offered fourth-quarter guidance of adjusted earnings of between $13.40 and $14 a share. Priceline stock has gained 29.2% this year, with the S&P 500 index SPX, +0.13% rising 15.6%.