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Technology Stocks : Global Crossing (GX - NYSE )
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To: Alphapenguin who started this subject3/2/2001 1:36:10 PM
From: Gregg   of 65
 
GX is a Bargain! Buy the stock AGGRESSIVELY! just found this on the Yahoo board.

(Dow Jones)TyCom Dn -3:Analyst Sees Atlantic Route Competition High

02 Mar 13:11

360networks told Wall Street it lowered its revenue guidance for 2001, citing a slowdown in subsea broadband sales.

The company now forecasts total cash revenue for the year in the $2.4 to $2.6 billion range, with about $1.3 billion of that coming from its subsea business.

That's down significantly from its prior guidance of $3.1 to $3.3 billion in total cash revenue with about $2 billion from the subsea operations.

The company said some of customers are reducing spending in order to preserve cash and maintain liquidity. Also, some customers have delayed purchases, causing 360's sales and inventory cycles in the bandwidth market to widen, it said.

"We believe that 360networks' difficulties are related to Global Crossing's success in taking market share as the first and most reliable source for global bandwidth," Deutsche Banc Alex. Brown analyst Rohit Chopra said in a Friday research note. "We contend that Global Crossing, Level 3, TyCom and Flag Telecom are still well-positioned as these companies have extensive carrier relationships and are well established industry players with less regional exposure than TSIX."
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