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Strategies & Market Trends : Technical analysis for shorts & longs

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To: Johnny Canuck who wrote (40584)	1/8/2004 9:56:31 AM
From: Johnny Canuck	Read Replies (2) of 69326

Verizon Wireless puts $1 billion on broadband Last modified: January 8, 2004, 5:55 AM PST By Marguerite Reardon Staff Writer, CNET News.com Verizon Wireless announced plans Thursday to expand its BroadbandAccess service nationally, signaling a possible upturn in capital spending by carriers. The 3G (third-generation) network, which provides average user speeds of 300 to 500 kilobits per second, is expected to be available in many major cities in the United States this summer. Verizon Wireless is expected to spend $1 billion over the next two years to build out the new network. This investment is on top of the existing $4 billion budget the company has already allocated to capital spending over the next two years. Verizon’s commitment to spending additional funds on a new project could be a good sign for the telecommunications market as a whole. The sector has suffered over the last few years as carriers have consistently cut spending amid disappointing revenue growth in their core telephone businesses. The move could indicate that telecom providers are ready to spend additional cash in new growth areas, such as next-generation wireless and voice over Internet Protocol. On Wednesday, parent Verizon Communications announced it had selected Nortel Networks to provide it with VoIP gear.

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