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Politics : Formerly About Applied Materials

AMAT 336.38

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To: StanX Long who wrote (54957)	11/1/2001 12:13:59 AM
From: StanX Long	Read Replies (1) of 70976

Qwest Posts $142 Million Loss Wednesday, October 31, 2001 foxnews.com PHILADELPHIA — Voice and data services company Qwest Communications International Inc. on Wednesday posted an unexpected third-quarter loss on flat revenues and warned that fourth-quarter revenues would fall short of Wall Street expectations, sending its stock down 21 percent. Qwest, which also extended the employment contract of Chairman Joseph Nacchio through 2005, said it suffered as the weak economy dampened sales of basic telephone services to businesses and consumers, and slowed sales of network capacity on its high-speed fiber optic network. Shares of the Denver company hit a record low of $12.55, but recovered to $12.67, a drop of $3.33, or 20.8 percent, in heavy New York Stock Exchange trading. The stock has fallen about 68 percent over the past year, underperforming the North American Telecommunications Index by about 47 percent.

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