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Strategies & Market Trends : Range Bound & Undervalued Quality Stocks
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To: Esway who started this subject1/29/2002 1:08:19 PM
From: Esway   of 5499
 
WorldCom defended (WCOM) 10.14 -1.86: -- Update -- As usually occurs when a major name breaks down, several firms out in defense of stock. Defenses range from opinion that a debt rating downgrade is unlikely, to view that there is nothing new in the market today which should contribute to the selling. Among the rumors said to be impacting WCOM today are: 1) co will be booted from the S&P 500, 2) debt rating will be cut to junk, 3) subsidiary UUNET is losing AOL as a customer, 4) WCOM will miss its qtr... Also mentioned as possible catalysts for the heavy selling is poor technical position of the stk (see 10:51 comment) and general concerns about accounting at companies with aggressive acquisition strategies (TYC -15%, CD -13%).
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