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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject4/27/2001 8:12:59 AM
From: just hit it   of 37746
 
CORV, Updated: 27-Apr-01 Last Update: 08:01 ET

08:01 ET Corvis (CORV) 7.89: Salomon Smith Barney downgrades to OUTPERFORM from Buy; says the long haul market build out is slowing sharply and becoming more competitive; pricing pressure in the space is building due to aggressive tactics by Nortel and Lucent; CORV also failed to announced any new contracts and doesn't see any before the 2nd-half of 2001. Reduces full yr revenue forecast to $294 mln from $315 mln and FY02 to $411 mln from $678 mln.
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