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Technology Stocks : NHC COMMUNICATIONS (TSE:NHC) acquiring THE FIBER COMPANY
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To: cleto who wrote (784)11/2/2001 4:09:16 PM
From: hugh thorne  Read Replies (1) of 856
 
HSBC on stockhouse has posted that Qwest stopped capital expenditures. This isn't quite right and see excerpt below.

<<<<<<<<<,Chris Hardman, a Qwest spokesman, confirmed the order but wouldn't disclose how many contractors or how much work is affected. He said the directive is part of an effort by the Denver-based telecommunications company to cut costs, including capital expenditures.

The directive "was sent to contractors giving notice to suspend certain operations until an analysis is complete," Hardman said. In the meantime, he said, "we are fixing service issues and doing everything we need to move forward."

The decision to assess work being done by contractors comes as Qwest reported this week an unexpected loss of $142 million and flat revenues for its third quarter. At least nine analysts have downgraded Qwest stock since the results were issued, and the company's stock price has declined more than 20 percent.>>>>>>>>>.
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