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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 689.17+0.2%Dec 11 4:00 PM EST
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To: HairBall who started this subject4/3/2002 8:35:11 AM
From: Challo Jeregy  Read Replies (2) of 99985
 
07:17 ET WorldCom downgraded by Lehman; WSJ reports 10% staff cut (WCOM) 6.78:
Lehman downgrades to MKT PERFORM from Strong Buy and cuts its price target to $8 (from
$22.50). Firm sees minimal growth in rev and EBITDA over the next few yrs, making valuation
multiple expansion unlikely. Says becoming increasingly clear that the MCIT unit can not pay its
dividend and service its existing debt past 2002. Separately, the WSJ reports that WCOM plans to
cut as much as 10% of its 75,000-person workforce.
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