The greenback is hanging on to a pretty big support here: cache.wsrn.com
Been having fun lately with a site called Investars that tracks analysts' performance; here's today's dispatch:
"WorldCom (WCOM) was Downgraded by Kaufman Brothers, USB Piper Jaffray (#15), Goldman Sachs (#4), Salomon SB (#5), CSFB (#10), AG Edwards, and Merrill Lynch to a Buy, Outperform, two Performs, and three Sells at $3.98 on April 22, 2002, thanks to WCOM's announcement of less annual revenue than expected.
"WorldCom Group, of Clinton, Mississippi, provides communications services to more than 65 countries.
"Also chiming in on April 22, 2002 was CIBC World Markets, with their smug reiteration of a WCOM Perform. And with the plethora of new downgrades, WCOM's StarRating shoots to a bearish -.6 Underperform.
"WCOM began its career at 25 cents on January 2, 1987, and immediately ran into some static, dipping 1% to its all-time low of 24 cents in its first week. That's when WCOM dialed up a spectacular 25,978% gain to its all-time high of $64.50 on June 21, 1999. Not a bad 12 years! However the next three years almost managed to wipe it all out, taking WCOM down 94% to bottom at $3.89 on April 22, 2002, before bouncing back a bit. Now at $4.02, WCOM is 2% above its recent low of $3.89 intraday on Monday, and 1,517% above its all-time low of 24 cents in 1987. Of course, WCOM is still 93% below its all-time high of $64.50 in 1999.
"According to Investars.com, Morgan Stanley (#1) has been the most accurate investment bank covering WCOM (167% gain since April 24, 1997), and therefore Morgan Stanley is awarded the WCOM Midas Investars Award. Morgan Stanley made a great call by upgrading WCOM coverage to a $17.42 Strong Buy on May 6, 1997. And after a two-year 251% gain, Morgan topped it off by downgrading WCOM to a $61.25 Outperform on June 8, 1999, just two weeks shy of WCOM's all-time high! Good timing and good direction, Morgan! Currently, Morgan Stanley maintains a WCOM Perform rating."
And speaking of great calls, I thought this one at the October 1998 bottom was a particularly good one -g-: Message 5964431 |
