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To: Johnny Canuck who wrote (40244)	9/17/2003 11:51:58 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70004

9:22AM Sprint likely to re-combine FON/PCS stock at some point (FON, PCS) by Michael Baron NEW YORK (CBS.MW) -- Sprint (FON) said it has a goal to reduce operating expenses by 5 to 7 percent over the next three years through consolidation of systems, elimination of redundancies, organizational re-design, and automation of certain operations. The company also plans to continue working to reduce debt, and properly align capital spending. Sprint plans to address how these goals will affect its 2004 forecasts at its December meeting with the investment community. The company also said that a recombination of its stock and the tracking stock of its PCS wireless operations "is likely at some point." 9:22AM Corvis laying off 200 in restructuring plan (CORV) by Steve Gelsi NEW YORK (CBS.MW) -- Corvis Corp. (CORV) said it'll cut 200 jobs as part of a plan to save of approximately $30-$40 million. Its work force will consist of about 1,200 people after the changes. The company expects to take restructuring charges in its third and fourth quarters. "With the steps we've announced today, we expect to reduce our quarterly operational burn by approximately $7-$10 million per quarter," Lynn D. Anderson, Corvis' chief financial officer, said in a statement. "Given our current view of the business, we now expect to end fiscal 2003 with approximately $275 - $300 million in cash, cash equivalents and short-term investments." Shares of the Columbia, Md. networking rose 5 cents to $1.45 on Tuesday