Shares of name-your-price retailer Priceline.com (Nasdaq: PCLN) continued their rebound by climbing 5-1/16 to 94, one day after Dan Schulman, executive vice president and consumer operations chief of AT&T, announced that he was leaving the telecommunications giant to join Priceline.com.
While some analysts are concerned that AT&T isn’t doing enough to retain its top talent, it’s easy to realize why Schulman left. His deal with Priceline.com, where he starts work on July 1, includes three million stock options.
Even after Friday’s gain, Priceline.com is still about 40 percent off its all-time highs. Priceline.com is also one of the biggest brand names on the Web and should be one of the biggest gainers if the Internet sector continues to bounce back. If that happens, Schulman, of course, is going to be extremely rich.