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Technology Stocks : 360Networks - TSX - TSIX

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To: Sal Pugliese who started this subject	6/18/2001 9:17:46 AM
From: James Calladine	of 449

RELATED: LEVEL 3 (from Briefing) <<<09:01 ET Level 3 Comms (LVLT) 7.62: -- Update -- Chairman, CEO, CFO, and COO all agree not to sell shares in company until further notice; in a private transaction, the Chairman purchased 2.95 mln shares from the CEO. Conference call to discuss revised guidance and cost-cutting measures at 4:30 pm ET: 612-332-0530. 08:54 ET Level 3 Comms (LVLT) 7.62: -- Update -- Company guides revenue and EBITDA numbers lower, citing economic slowdown; cuts 2001 revenue estimate to $1.53 bln from $1.62-1.72 bln, 2002 to $1.92-2.02 bln from prior guidance of $2.52-2.72 bln. Capex numbers also cut sharply to $3 bln from $3.3-3.4 bln for 2001, to $1.5 bln from $2-2.4 bln for 2002, and sets 2003 estimate of $1.3 bln. CIEN and GLW sell to LVLT.>>> Namaste! Jim

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