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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Ally who wrote (10064)	2/28/2001 8:49:27 AM
From: TechMkt	of 15615

February 28, 2001 360networks Shares Drop 15% On Lowered Earnings Estimates VANCOUVER, British Columbia -- Shares of 360networks Inc. sank 15% after Credit Suisse First Boston Corp. slashed its fourth-quarter revenue and earnings expectations for the company. After Credit Suisse cut its forecasts for 360networks' fourth quarter Tuesday, a spokeswoman for the communications carrier said Credit Suisse's original estimates were based on figures, released at a Nov. 30 analysts' meeting, that had a "clerical error" on a slide. The slide, part of a presentation, indicated much higher fourth-quarter revenue and earnings expectations, the spokeswoman said. 360networks is scheduled to release its fourth-quarter results Wednesday.

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