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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who started this subject	4/4/2001 3:31:57 PM
From: Softechie	Read Replies (1) of 2155

DJ McLeod Rebounds As Investors Rethink Start-Up Telecoms 04 Apr 14:19 NEW YORK (Dow Jones)--McLeodUSA Inc. (MCLD) was one of the few startup telecom companies to regain a substantial part of the losses suffered in Tuesday's slaughter of the sector. McLeod shares recently traded at $6.91, up 41 cents, or 6.3%. Earlier, they traded as high as $7.75. Investors seem to be sorting through the sector for the likely survivors of an expected rash of bankruptcies, said Ken Hoexter, an analyst at Merrill Lynch & Co. He noted that shares of Allegiance Telecom Inc. (ALGX), which were recently off 14%, ended higher Tuesday. Allegiance is widely viewed as having enough funding for its business plan. "McLeod's in the same boat, in that they're funded and it's been so incredibly beaten down recently," Hoexter said. McLeod officials said there is "nothing we're aware of" except a technical rebound that would be driving the stock Wednesday. -By Christine Nuzum, Dow Jones Newswires; 201-938-5172 (END) DOW JONES NEWS 04-04-01 02:19 PM

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