UBS Warburg downgrades WorldCom
WorldCom was downgraded to “hold” from “buy” today by USB Warburg because of the increased likelihood the long-distance operator will have to restructure its tracking stock for MCI Group. Analyst John Hodulik attributed the change to the difficult telecom environment and weak demand for data services. Hodulik predicted that WorldCom soon will announce cost-cutting measures and capital spending reductions. --Amalia D. Parthenios
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© 2012 Penton Media Inc.
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