Shares of Priceline.com (NASDAQ:PCLN) failed to take off after an upgrade from Morgan Stanley (NYSE:MS). Scott Devitt raised his rating on the company to overweight from equal weight. He also set a price target of $650 for shares. Shares are edging down in late trading.
Hewlett Packard (NYSE:HPQ) is trading down after the bell as the company said it acquired about 87.3% of the outstanding shares of Autonomy corp., which basically gives HP control of the British software producer.
After crashing and burning to the tune of 33%, shares of American Airlines (NYSE:AMR) are up more than 3% in late trading. The decent of shares was rapid enough to halt trading six times on Monday. There are growing concerns that the third largest U.S. carrier may be forced to seek bankruptcy protection. Shares of United Continental Holdings (NYSE:UAL) and Delta Air Lines (NYSE:DAL) are also trading lower in late trading.
Bank of America (NYSE:BAC) continues to slide in late trading after already closing more than 9% lower on Monday. Shares closed at their lowest level since March 2009. Other banks such as Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS) also trading lower after the closing bell.