----- Forwarded by Jeff Dasovich/NA/Enron on 04/03/2001 12:06 PM -----

	Margo Reyna
	04/03/2001 11:48 AM
		 
		 To: Sue Nord/NA/Enron@Enron, Scott Bolton/Enron Communications@Enron 
Communications, Lara Leibman/Enron Communications@Enron Communications, 
Donald Lassere/Enron Communications@Enron Communications, Mona L 
Petrochko/NA/Enron@Enron, Barbara A Hueter/NA/Enron@Enron, Jeff 
Dasovich/NA/Enron@Enron, Susan M Landwehr/NA/Enron@Enron, Marchris 
Robinson/NA/Enron@Enron, Ricardo Charvel/NA/Enron@Enron, Stephen D 
Burns/Corp/Enron@ENRON, Xi Xi/Enron Communications@Enron Communications, 
Allison Navin/Corp/Enron@ENRON, John 
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Eric Benson/NA/Enron@ENRON, 
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Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Carmen 
Perez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William Patrick Lewis/HOU/ECT@ECT
		 cc: 
		 Subject: Article: Sagging Telecommunications Sector Leads Nasdaq Down


Sagging Telecommunications Sector Leads Nasdaq Down 
By Johnathan Burns 
  
04/03/2001 
Dow Jones News Service 
(Copyright (c) 2001, Dow Jones&Company, Inc.) 
NEW YORK -(Dow Jones)- The telecommunications sector led the Nasdaq Composite 
Index down Tuesday, as investors worrying about the earnings season and a 
slowdown in carrier spending hammered many stocks to new lows. 
The selloff of telecommunications carriers and equipment makers was 
widespread, with all of the big-name companies trading negatively. 
Shares of optical component maker JDS Uniphase Corp. (JDSU) earlier hit a 
52-week low, recently trading down 11% to $14.88. Optical systems market 
leader Nortel Networks Corp. (NT) also hit a 52-week low, recently trading 
down 7% to $13. The day's biggest loser in the equipment space was optical 
systems maker Ciena Corp. (CIEN), which hit a new low and was recently 
trading down 16.5% to $35.50. 
The bloodshed was so widespread that a host of other equipment companies also 
hit new lows: Lucent Technologies Inc. (LU) recently traded down 11% to $7.88 
while Corvis Corp. (CORV) was recently down 14.4% to $5.19. 
A rash of earnings warnings by software companies like Redback Networks Inc. 
(RBAK) and fiber optic equipment maker Harmonic Inc. (HLIT) after the bell 
Monday, coupled with continued funding concerns for start-up phone companies, 
served as a one-two punch for the sector. 
Start-up phone company Winstar Communications Inc. (WCII) recently traded 
down almost 54% to 41 cents, while peers Teligent Inc. (TGNT) dropped 31% to 
28 cents and XO Communications Inc. fell 38% to $3.22. Investors have become 
increasingly nervous that those companies will face bankruptcy, as the 
capital markets have dried up. 
Even well-funded carriers weren't exempt from Tuesday's selling pressure. 
Shares of Qwest Communications International Inc. (Q) barely stayed above its 
52-week low of $32.13, recently dropping 6.2% to $33.50, while shares of AT&T 
Corp. (T) were off 5.1% to $20 and WorldCom Inc. (WCOM) fell 6.4% to $17.50. 
-By Johnathan Burns, Dow Jones Newswires; 201-938-2020; 
johnathan.burns@dowjones.com 

Folder Name: Telecom Technology: Fiber Optics 
Relevance Score on Scale of 100: 65

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