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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who started this subject	4/3/2001 4:25:08 PM
From: Softechie	of 2155

DJ Sagging Telecommunications Sector Leads Nasdaq Down 03 Apr 12:40 By Johnathan Burns Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--The telecommunications sector led the Nasdaq Composite Index down Tuesday, as investors worrying about the earnings season and a slowdown in carrier spending hammered many stocks to new lows. The selloff of telecommunications carriers and equipment makers was widespread, with all of the big-name companies trading negatively. Shares of optical component maker JDS Uniphase Corp. (JDSU) earlier hit a 52-week low, recently trading down 11% to $14.88. Optical systems market leader Nortel Networks Corp. (NT) also hit a 52-week low, recently trading down 7% to $13. The day's biggest loser in the equipment space was optical systems maker Ciena Corp. (CIEN), which hit a new low and was recently trading down 16.5% to $35.50. The bloodshed was so widespread that a host of other equipment companies also hit new lows: Lucent Technologies Inc. (LU) recently traded down 11% to $7.88 while Corvis Corp. (CORV) was recently down 14.4% to $5.19. A rash of earnings warnings by software companies like Redback Networks Inc. (RBAK) and fiber optic equipment maker Harmonic Inc. (HLIT) after the bell Monday, coupled with continued funding concerns for start-up phone companies, served as a one-two punch for the sector. Start-up phone company Winstar Communications Inc. (WCII) recently traded down almost 54% to 41 cents, while peers Teligent Inc. (TGNT) dropped 31% to 28 cents and XO Communications Inc. fell 38% to $3.22. Investors have become increasingly nervous that those companies will face bankruptcy, as the capital markets have dried up. Even well-funded carriers weren't exempt from Tuesday's selling pressure. Shares of Qwest Communications International Inc. (Q) barely stayed above its 52-week low of $32.13, recently dropping 6.2% to $33.50, while shares of AT&T Corp. (T)were off 5.1% to $20 and WorldCom Inc. (WCOM) fell 6.4% to $17.50. -By Johnathan Burns, Dow Jones Newswires; 201-938-2020; johnathan.burns@dowjones.com (END) DOW JONES NEWS 04-03-01 12:40 PM

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