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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: jopawa who wrote (11244)	5/16/2001 11:33:19 AM
From: Alphapenguin	Read Replies (3) of 15615

CBS MarketWatch.com: 360Networks give Global Crossing a boost (TSIX, AGCX, GX, MSFT) By Tomi Kilgore 360Networks (TSIX) (CA:TSX) is falling 14 cents, or 9.2 percent, to $1.38. Volume is 2.3 million shares, already close double the daily average. Late Tuesday, the Canadian provider of fiber-optic communications networks said late Tuesday that it would scrap orders for a transpacific and transatlantic submarine cables that is estimated at more than $1 billion. Analyst Rohit Chopra at Deutsche Banc Alex. Brown said this was a positive development for the Asia/Pacific market. As first movers there, Asia Global Crossing (AGCX) , which is a joint venture of Global Crossing (GX) , Microsoft (MSFT) and Japan's Softbank, stands to benefit the most. Asia Global Crossing is running up 14 percent to $6.87, Global Crossing is rallying 8.9 percent to $14 and Microsoft is gaining 1.6 percent to $69.34.

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