Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Covad Communications - COVD -- Ignore unavailable to you. Want to Upgrade?

To: OverSold who wrote (255)	9/3/1999 1:28:00 PM
From: Mark Duper	Read Replies (2) \| Respond to of 10485

USA: Covad shares rise on news of DSL expansion plan. 09/03/1999 Reuters English News Service (C) Reuters Limited 1999. NEW YORK, Sept 3 (Reuters) - Shares of Covad Communications Group Inc. rose as much as 13 percent on Friday after the company said it would nearly double its high-speed Internet access network to reach 40 percent of the nation's homes and businesses. Deutsche Banc Alex Brown also raised its investment rating on Covad to strong buy from buy. Additional details were not immediately available. Shares of Covad were up 5 at 48-13/16 at 11:14 a.m. Eastern Time (1514 GMT) in morning trading on Nasdaq. After the stock market closed on Thursday, Santa Clara, Calif.-based Covad said its expansion will add 49 new markets and 19 new states to its network coverage. Network construction is expected to be completed by the end of 2000. Covad currently operates in 51 markets and the expansion will bring Covad's network coverage to 100 of the nation's top markets. Covad provides high-speed Internet access using digital subscriber line (DSL) technology. DSL uses ordinary phone lines to provide Internet access to consumers at speeds 50 times faster than traditional modems. By taking advantage of unused capacity on existing telephone lines, the technology allows customers to use a single phone line to send faxes or make phone calls while surfing the Internet. Covad offers DSL services through Internet Service Providers to small and medium-sized businesses and home users, and direct to large enterprise customers. (( Jessica Hall, New York newsroom 212-859-1729)).