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priceline.comundefined fell 8.3% in late morning.

Late Thursday the name-your-own-price e-commerce outfit posted a fourth-quarter loss of 15 cents a share, worse than the Street's estimate of a 7 cent loss and below the year-earlier 6 cent loss.

The company said it would become profitable in the second quarter, but

Merrill Lynch

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downgraded it to neutral from accumulate, saying customer acquisition costs had almost doubled and "visibility is even worse than expected."

priceline also said two Asian conglomerates have invested $50 million in it.