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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Labrador who wrote (12330)	3/12/2001 10:51:15 PM
From: DubM	Read Replies (1) \| Respond to of 12468

March 12, 2001 Dow Jones Newswires Winstar Commun Off 26%; Analyst, Co Cite Mkt Conditions Dow Jones Newswires By Maxwell Murphy Of DOW JONES NEWSWIRES NEW YORK -- Shares of WinStar Communications Inc. (WCII) fell to a 52-week low of $6.66 Monday as a fierce selloff in the broadband telecommunications market continued. The stock hit its previous 52-week-low of $9.56 Friday. It was "pretty much a tech bloodbath" on Wall Street Monday, said Rick Grubbs, Credit Lyonnais Securities Inc. analyst. He maintained his buy rating on the stock and a $47, 12-month price target. WinStar spokesman Kevin Cavanaugh noted that the "whole market" is having a down day and stressed that the company has continued to execute its business plan. He noted that fourth-quarter results posted two weeks ago showed revenue increasing for the 15th consecutive period. WinStar will reach break-even earnings before interest, taxes, depreciation and amortization during the next quarter, he said. The $1.02 billion in financing the broadband telecommunications provider received in November will sustain its business through the first quarter of 2002, Cavanaugh added. Shares of WinStar closed Monday down $2.56, or 27.8%, on volume of 8.9 million, compared with a daily average of 3 million. -By Maxwell Murphy, Dow Jones Newswires; 201-938-5173; maxwell.murphy@dowjones.com