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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 228.38

+0.4%

3:59 PM EST

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To: Oeconomicus who wrote (138389)	2/2/2002 12:01:16 PM
From: H James Morris	Read Replies (4) of 164684

Everyone is freaked out about Enron, and investors don't trust Grubman anymore. Who do you trust other than yourself? Analyst Jack Grubman at Salomon Smith Barney attributed the selling pressure to a number of factors, including speculation that the stock would be dropped from the S&P 500 and that its debt would be cut to junk status, most of which he feels "don't make sense." Brad Burns, a spokesperson at WorldCom, commented on speculation of a debt downgrade by Standard & Poor's: "We have been assured by them that that is not the case." Grubman said that what does make sense it that "December was a weak month for the telecom industry," and that weak fourth-quarter results will continue into the first quarter.

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