Just how bad is the sector? Take a look at this: Q has delivered nothing but good news recently and today as well, and it is getting hammered. It is now a hair's breadth away from its 52 week low. Yet, it has had good press (favorable contrast in recent press articles, pointing out how US West saved Q, and how that's something GX and LVLT etc. don't have). Q has now a 113,000 mile network to GX's projected 100,000 and in fact, Q has so much cash, they are purchasing assets of distressed telcos. With all this swirling about, Q is still getting hammered today. Is it any wonder then, that GX needs little further excuse to get murdered in the stock market here?
biz.yahoo.com
"Monday June 18, 7:00 am Eastern Time
Press Release
SOURCE: Qwest Communications International Inc.
Qwest Communications Extends Global Network to 113,000 Miles
New Asia Routes Add Round-the-Globe Connectivity; New Routes Acquired Through Transactions and Favorable Pricing
DENVER, June 18 /PRNewswire/ -- Qwest Communications International Inc. (NYSE: Q - news), the broadband Internet communications company, announced today that it has extended its global network to more than 113,000 miles with 7,000-miles of routes through Asia and the Middle East, providing customers with seamless global connectivity on Qwest facilities [see newscom.com]. Qwest has been working on these expansion initiatives for the past fifteen months, and acquired these new routes through transactions with other carriers, taking advantage of favorable pricing for existing assets available in the marketplace.
(Photo: newscom.com )
The company's global Internet backbone circumnavigates the globe and delivers a complete portfolio of applications and services on a network completely owned and operated by Qwest. Customers benefit from Qwest's ability to deliver speed, reliability and scalability on a worldwide basis, meeting the needs of growing businesses. By taking advantage of the latest optical network and transmission technologies, Qwest will continue to add broadband capacity on its worldwide infrastructure. In fact, Qwest has activated more than 100 million miles of lit Digital Service Level-3 (DS-3) all-optical capacity throughout North America.
``We continue to see our customers expressing the need for global networking capabilities,'' said Joseph P. Nacchio, chairman and CEO of Qwest. ``Customers want a single carrier to deliver seamless broadband Internet services and applications completely around the globe. We expect this demand to continue to grow throughout 2001 and beyond.''
Qwest's global network continues to lead the industry in performance and reliability, which was recently recognized by industry and trade publications. Interactive Week Magazine and InfoWorld Magazine's readers honored Qwest for its network services, Web hosting and Applications Service Provider (ASP) businesses. Qwest's Gigabit Ethernet services were also awarded the prestigious Best in Show honor at Networld + Interop in May.
With this expansion, the Qwest global network now reaches more than 113,000 miles, connecting six continents. Leveraging industry leading reliability, packet loss and latency rates, Qwest is developing next generation applications and services delivered over its IP backbone.
About Qwest
Qwest Communications International Inc. (NYSE: Q - news) is a leader in reliable, scalable and secure broadband Internet-based data, voice and image communications for businesses and consumers. The Qwest Macro Capacity® Fiber Network, designed with the newest optical networking equipment for speed and efficiency, spans more than 113,000 miles globally. For more information, please visit the Qwest web site at www.qwest.com.
This release may contain projections and other forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Qwest with the Securities and Exchange Commission, specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including potential fluctuations in quarterly results, volatility of Qwest's stock price, intense competition in the communications services market, changes in demand for Qwest's products and services, dependence on new product development and acceleration of the deployment of advanced new services, such as broadband data, wireless and video services, which could require substantial expenditure of financial and other resources in excess of contemplated levels, higher than anticipated employee levels, capital expenditures and operating expenses, rapid and significant changes in technology and markets, adverse changes in the regulatory or legislative environment affecting Qwest's business and delays in Qwest's ability to provide interLATA services within its 14-state local service territory, failure to maintain rights of way, and failure to achieve the projected synergies and financial results expected to result from the acquisition of U S WEST timely or at all and difficulties in combining the operations of Qwest and U S WEST. This release may include analysts' estimates and other information prepared by third parties for which Qwest assumes no responsibility. Qwest undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The Qwest logo is a registered trademark of, and CyberCenter is a service mark of, Qwest Communications International Inc. in the U.S. and certain other countries.
SOURCE: Qwest Communications International Inc."
Morgan |
