The Night Watch: WorldCom Plunges on Revenue Warning
Traders didn't have a lot to get excited about after the close Friday, until WorldCom (WCOM) upset the rather quiet mood with a revenue warning.
Following the close of regular trading, WorldCom lowered its revenue guidance for 2002 and cut its capital spending plan. The stock was lately down 13.5% to $5.17, making it the biggest percentage loser on the Instinet platform after the close.
As usual on a Friday, little corporate news was being released. Volume was moderate, with around 2.9 million shares changing hands among the top-20 volume movers 75 minutes into the late session.
Credit card issuer Metris (MXT) was ticking up 0.1% to $13.13, and a handful of other non-tech companies were making their way onto the volume leader board. Tyco International (TYC) was active, but unchanged at $29.89.
Sun Micro (SUNW) was slipping 0.3% to $9.12, and the Nasdaq 100 Unit Trust (QQQ) was down 0.2% to $34.40. Microsoft (MSFT) was ticking up 0.1%, while Cisco (CSCO) was slightly lower, and Intel (INTC) was unchanged.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
