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Top Financial News
11/17 13:19
U.S. Stocks Fall, Led by Phone Shares; Election Rally Fizzles
By Josh P. Hamilton
New York, Nov. 17 (Bloomberg) -- U.S. stocks fell, led by telephone shares, after BellSouth
Corp. said profit next year will grow less than forecast.
Broadcom Corp. and other makers of communications equipment and components slid on concern
their sales growth will slow because phone companies won't spend as much.
``A slowdown in capital spending by telecom companies, which is on the horizon, will have a
ripple effect on the technology companies,'' said Robert Morris, head of stock investments at
Lord, Abbett & Co., which manages $33 billion in Jersey City, New Jersey.
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and yesterday BLS stated that will accelerate investment into
next gen. networks, will triple deployment of DSL
Instead, it will shift its spending toward its new, fast-growing
businesses and away from slow-growing, traditional telephone services.
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