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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here

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To: zbyslaw owczarczyk who wrote (10329)	2/5/2001 11:17:13 AM
From: elmatador	of 12823

Verizon downgraded; shares slip By Bloomberg News El Mat comment: "I hope the cause it is not ADSL!!!" February 2, 2001, 3:20 p.m. PT Verizon Communications shares were downgraded Friday by investment banking firm Credit Suisse First Boston after fourth-quarter sales failed to increase as much as expected. Credit Suisse First Boston analyst Dan Reingold cut his rating on Verizon to "buy" from "strong buy." Reingold lowered his forecast for 2001 profit to $3.10 a share from $3.15. The average estimate of analysts polled by First Call is $3.14. Reingold also said he expects earnings per share to increase 12 percent over the next five years, down from his earlier estimate of 14 percent. Verizon's shares fell $3 to $52 after falling as low as $51.30. Volume, at 9 million shares, was almost twice the three-month daily average. The stock has risen 3.7 percent this year. Fourth-quarter sales increased 6.7 percent Thursday, less than Reingold's estimate of 7.1 percent.

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