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To: Venkie who wrote (5895)1/30/2002 11:02:03 AM
From: stockman_scott  Respond to of 13815
 
WorldCom shares tumble on debt downgrade rumors

biz.yahoo.com

NEW YORK, Jan 29 (Reuters) - Shares of U.S long-distance phone company WorldCom Inc. (NasdaqNM:WCOM) fell to 7-1/2 year lows on Tuesday on market rumors that debt rating agencies were about to downgrade the company's debt, although Standard & Poor's denied it was about to take such an action.
``Investors are reacting to rumors that there may be potential debt downgrades,'' said George Rodriguez, head of trading at investment firm Guzman & Co.

Shares of WorldCom were off 17.3 percent, or $2.08, at $9.92, their lowest level in nearly seven and a half years.

S&P said the rumor it may downgrade WorldCom to junk status was ``nonsense.''

``The rumors are unsubstantiated,'' said Rosemarie Kalinowski, an S&P director who follows the No. 2 U.S. long-distance telephone company. ``It's nonsense.''

Standard & Poor's rates WorldCom's senior unsecured debt ``BBB-plus,'' three notches above ``junk'' status, with a stable outlook.

Moody's Investors Service said it rates the debt ``A3,'' four notches above junk status, also with a stable outlook. That agency was not immediately available for comment.

News that fellow telecommunications provider Global Crossing Inc. (GBLXQ) filed for bankruptcy on Monday, reduced outlook from Qwest Communications International Inc. (NYSE:Q) and disappointing earnings from fiber-optic network builder Level 3 Communications Inc. (NasdaqNM:LVLT) also weighed on WorldCom's stock.



To: Venkie who wrote (5895)1/30/2002 11:07:19 AM
From: horsegirl48  Respond to of 13815
 
I bot mdt this morning when I heard gdt had good earnings, they trade together like fre & fnm, and since gdt gapped up over 3 at opene bot mdt which is going ta the moon today!!!!Im looking at gspn know anything about it??



To: Venkie who wrote (5895)1/30/2002 3:46:42 PM
From: im a survivor  Read Replies (2) | Respond to of 13815
 
wish opwv would move......I should have known not to buy it...charts said it was going to $14 - $15...I buy at $10.58 on what looks like a breakout....two weeks later down like 50% or something.......I guess I will watch it wither away to 41 like all my other stocks <ggg>....what happened to fdry.....It was at like $6 and change and then $7 and change....personally, I thought their numbers were good......they made money, and have low valuation....I see companies losing their A$$ valued at 200 billion.......think fdry will turn the corner and be a big time gainer.....wish I bought the low today on the fear, but will probably get another chance....will add to rfmd, beas, ntap on any real weakness....not adding to opwv...will just let it sit with my palm and aol and qcom and other wortheless POS's <ggg>