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To: Johnny Canuck who wrote (36289)	3/1/2002 12:08:29 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69852

08:51 ET FON Sprint FON addresses liquidity concerns (14.09) -- Update -- Co outlines a series of steps that will increase its financial flexibility and address the market's current concerns about co's liquidity. Co has signed a commitment letter with Citibank and Deutsche Bank AG for a $1 bln term loan facility. The commitment, which is fully incremental to Sprint's existing $5 bln revolving line of credit, is for a nine-month loan secured by the assets of Sprint's directory publishing business. In addition, Sprint's incremental 2002 cash requirements are expected to be reduced to approx. $1.0 bln from $1.7 bln 08:48 ET AA Alcoa downgraded at Prudential (37.57) Prudential downgrades to HOLD from Buy to reflect large Chinese capacity additions and restarts in capacity both in the US and Brazil as power shortages ease; also, general economic news worldwide outside China suggests a gradual or slow-pace of demand recovery. Firm adds that there is downside risk to their estimates. Price target is $44. 08:38 ET FON Sprint FON reduces capex by $400 mln to $6.4 bln (14.09) Due to the high likelihood of either a significant delay or termination of the availability of the NextWave spectrum, Sprint now expects the PCS Group financing needs for 2002 to be $300 mln below previous guidance. As a result of reduced capital expenditures, Sprint now expects the FON Group to be free cash flow positive for FY02. Both the PCS Group and FON Group are expected to be free cash flow positive for FY03. 08:36 ET AWE AT&T Wireless updates guidance (10.09) Given industry-wide pricing pressures and a challenging economy, AWE expects to report services revenue percentage growth, without TeleCorp, in the low double digits for full-year 2002, which is slightly less than previous guidance. Co plans to implement a number of plans designed to address the revenue pressure, with most of the benefit expected in the 2nd-half of the year. Expects early closing of the TeleCorp acquisition and impact of competitive pricing to reduce mobility EBITDA percentage growth to the low to mid-20s. 08:34 ET RETK Retek upped at Bear Stearns (20.02) Bear Stearns upgrades to BUY from Neutral based on expectations for continued strong rev, EPS and cash flow growth, as well as increasing comfort with the co's ratable rev recognition policy; firm believes the reward/risk ratio for RETK is extremely compelling at better than 2:1.