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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61973)	3/13/2002 12:29:12 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Lucent, Nokia Shares Drop on Warnings March 12, 2002 9:01:00 PM ET news.moneycentral.msn.com NEW YORK (Reuters) - The battered telecom sector took another hit on Tuesday as a fresh bout of earnings warnings from giants Lucent Technologies Inc. (LU) and Nokia Corp. (NOK) soured investor hopes for a recovery any time soon. And once again, accounting issues clouded the air after WorldCom Inc. (WCOM), the No. 2 long distance phone company, and Qwest Communications International Inc. (Q), the No. 4 local phone provider, said they were being investigated by securities regulators over bookkeeping procedures. Telecommunications issues were down across the board. The Nasdaq telecommunications index closed off 3.4 percent while the Standard & Poor's telecommunications equipment index was down 5.2 percent. The surprise warning from Lucent came just three weeks after the top U.S. telecom gear maker said it was comfortable with estimates. Leading mobile phone maker Nokia's warning on handset sales countered reports last week that wireless service providers were adding more customers than expected.