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TECHNOLOGY | TECH BRIEFS

Priceline Loss Estimate

April 03, 2001|Bloomberg News

Priceline.com Inc. said its first-quarter loss will be about 5 cents a share as the Internet seller of airline tickets and hotel reservations cut costs and took less time to respond to customers. Its shares rose 21%. The loss, excluding restructuring charges, supplier warrants and stock-based compensation, will be "at the favorable end" of its February estimate of 5 cents to 7 cents. Priceline has fired 34% of its staff and postponed expansion plans. Shares of Norwalk, Conn.-based Priceline.com rose 53 cents to $3.06 on Nasdaq.

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