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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Zoro who wrote (3280)	8/8/2002 2:39:55 PM
From: Jesica Dawnet	Read Replies (1) \| Respond to of 3873

You're welcome. Another related: DJ Merrill Cuts 2002 Capex View For Telecom Svcs Indus Again NEW YORK (Dow Jones)--Merrill Lynch has trimmed its projection again on expected capital spending for products and services in the wireline and wireless industries. Merrill Lynch analyst Adam Quinton said the firm now expects total capex spending to fall 30% this year, to $59 billion. Previously, he predicted a 23% decline. In 2003, the analyst said he believes capex in the telecom services industry will fall 4%, to $56.6 billion. The culprits: The industry has been dealing with weak consumer and enterprise demand as well as a stunned capital market still reeling from WorldCom's bankruptcy. "The growth outlook industry-wide is downbeat as a number of technology substitution factors and other issues keep up the pressure on revenues," Quinton said in a morning note. He added that industry dynamics are "directionally improved, but that is not the same as being great or even OK." The analyst said regional bell operating companies, or RBOCs, like BellSouth Corp (BLS), SBC Communications Inc. (SBC) and Verizon Communications (VZ) are "the strongest survivors, but offer very modest growth on our estimates." Quinton added, "For the hard core survivors valuations look more sensible, but that's not the same as saying hte last men standing should be unequivocally bought." -By Jermain Griffin; Dow Jones Newswires; 201-938-5394. -jermain.griffin@dowjones.com (END) DOW JONES NEWS 08-07-02 11:42 AM- - 11 42 AM EDT 08-07-02