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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who wrote (1022)	4/2/2001 1:43:51 PM
From: Softechie	of 2155

DJ Winstar Dn -2: Street Frets $1.1B Funding Shortfall¸ 02 Apr 11:29 By Christine Nuzum and Carol Remond Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Shares of Winstar Communications Inc. (WCII) fell 36% as the company prepared to file for an extension on its annual report, which would normally be due 5:30 p.m. EDT Monday. A Winstar spokesman said the company will file the request Monday with the Securities and Exchange Commission, which will automatically grant a one-time extension of 15 days. People familiar with the situation attributed Winstar's delay to continuing discussions about material transactions. Some worried that the company won't be able to get much-needed capital from Lucent Technologies Inc. (LU). Talk on Wall Street circulated that Winstar may be scrambling for other ways to resolve financing shortfall, such as trimming its budget. Winstar has enough cash and credit available to fund operations through the beginning of 2002, but will need an additional $1.1 billion to reach free cash flow under current business plans. At a Morgan Stanley conference last week, Winstar said it may cut its capital budget to $200 million from $700 million, according to Donna Jaegers, portfolio manager at the Invesco Telecom Sector Fund. Winstar shares recently traded at $1.41, down 75 cents on volume of 3.5 million, compared with average daily volume of 4.4 million. (MORE) DOW JONES NEWS 04-02-01 11:29 AM

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