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was down 33.8% in late morning as analysts responded to its earnings report with downgrades.

Merrill Lynch

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Internet analyst Henry Blodget cut the e-commerce company to long-term accumulate from buy and lowered his 2001 earnings forecast to 12 cents per share from 20 cents. Blodget said that priceline "is a much smaller business opportunity than we originally thought."

Goldman Sachs

cut priceline to market perform from market outperform and said the short-term outlook is "bleak." Late Thursday, priceline said it met lowered earnings estimates and announced the resignation of CFO Heidi Miller.