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To: Johnny Canuck who wrote (32860)	6/18/2001 10:12:00 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69175

09:01 ET Level 3 Comms (LVLT) 7.62: -- Update -- Chairman, CEO, CFO, and COO all agree not to sell shares in company until further notice; in a private transaction, the Chairman purchased 2.95 mln shares from the CEO. Conference call to discuss revised guidance and cost-cutting measures at 4:30 pm ET: 612-332-0530. 08:54 ET Level 3 Comms (LVLT) 7.62: -- Update -- Company guides revenue and EBITDA numbers lower, citing economic slowdown; cuts 2001 revenue estimate to $1.53 bln from $1.62-1.72 bln, 2002 to $1.92-2.02 bln from prior guidance of $2.52-2.72 bln. Capex numbers also cut sharply to $3 bln from $3.3-3.4 bln for 2001, to $1.5 bln from $2-2.4 bln for 2002, and sets 2003 estimate of $1.3 bln. CIEN and GLW sell to LVLT. 08:29 ET Global Crossing (GX) 8.66: -- Update -- In response to negative comments issued by competing firm, Salomon Smith Barney states that it is seeing no change in the pricing environment from what firm had already been saying; says rate of decline in bandwidth pricing is clearly slowing relative to a year ago. 08:29 ET Openwave (OPWV) 28: Sources at Wit SoundView saying that the firm has downgraded OPWV to HOLD from Strong Buy due to subscriber growth concerns; cutting FY01 EPS to $0.25 from $.27 and FY02 to $0.55 from $0.64. 08:26 ET FuelCell Energy (FCEL) 64.08: Enters agreement with Marubeni Corp that is targeted to generate at least 45 MW in Direct FuelCell power plant orders. Marubeni is also making an initial $10 mln investment in FCEL and is expected to invest another $30 mln in FCEL over the term of the agreement.