Priceline deepens its loss by forgiving execs' loans

Article Abstract:

Priceline.com has increased its lower-than-expected 4th qtr 2000 results by forgiving loans made to top executives. The loans were considered an advance to the company's newly appointed COO Jeffery Boyd, departed CFO Heidi Miller and current CEO Daniel Schulman. The idea was that they would pay the loans from profits made by exercising options on highflying Priceline stock. However, teh company's shares have plummeted 97% to $3 per share, making most stock options worthless. The forgiven loans, totaling $9.2 million, means that Priceline shareholders are footing the bill for the bets made on Priceline stock that did not pay off.

Sales, profits & dividends, Priceline.com

---

Ailing stocks lower boom on dot-coms

Article Abstract:

Internet companies are suffering from weakening stock prices. Third quarter 2000 results reveal that even the more profitable Internet companies, such as Yahoo, is vulerable to the trend. Its stock fell by 27% in the quarter, leaving it down 58% for the year. Web consulting firm Razorfish also lost a third of its value in the 3rd qtr as the dot-com blowup rippled. Cisco Systems shares also fell by 13% in the quarter. The trend has left investors more cautious about companies building Internet infrastructure while analysts feel that things are likely to get even worse.

Securities prices

---

Amazon dive deepens dot-com gloom

Article Abstract:

Amazon.com's share price has plunged by 19%, or $8.13, to $33.88 on Jun 23, 2000. The decline has caused concerns among investors over the future of Internet-retailing as a stand-alone business. The e-retailer's slowing revenue growth and huge debt burden has also renewed fears that the days of online selling maybe coming to an end. Amazon's stock has lost half its value in 2000 and has gone down by 70% from its high which has eliminated $27.8 billion in value.

Financial analysis, Amazon.com Inc.

Similar abstracts:

• Abstracts: Online brokers suffer with drop in trading volume. Online music on countdown to blastoff. Nasdaq rally fades to loss as Dow gains
• Abstracts: American Airlines tailors its Web site. Airline traffic shatters records. 4 major airlines reported in talks
• Abstracts: Markets welcome rate hike. NHTSA expands tire investigation to other brands
• Abstracts: Airlines dispute customer-service audit. Airlines say they will serve no wine that isn't fine. Fliers play hide-and-seek with mileage awards
• Abstracts: Economists: interest rates will hit 7% by end of year. College towns, state capitals enjoy lowest jobless rates

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.