Priceline.com Surging After Hours (PCLN)

Priceline.com Incorporated

reported its financial results for the 2nd quarter 2010. Gross travel bookings were up 43.3% over a year ago at $3.4 billion. With revenues of $767.4 million, a 27.1% year-over-year increase, and a gross profit of $445.3 million (a 45.9% year-over-year increase), investors quickly reacted to the news. PCLN is trading up $29.04, or 12.59%, to $259.09 as of 4:19 ET in after hours trading. Good news for investors that had been long PCLN, awful news for those with shorts. And with PCLN having a lot of short interest, it's not hard to imagine a significant short squeeze.