priceline.com (PCLN) 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
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.
