The Night Watch: Chattem Lower on Secondary

WorldCom(WCOM Quote) was the most actively traded issue in the Instinet late session Monday, although the company ? which saw its debt further lowered into the realm of junk earlier ? was treading water after falling 9% in regular trading.

Shares of the long-distance company were unchanged at $1.45 each after S&P lowered by two notches its long-term corporate credit rating.

A couple of wireless companies were also atop the volume list but unchanged: U.S. Unwired(UNWR Quote) held steady at $2.99 while Triton PCS(TPC Quote) was even with its 4 p.m. close at $5.59. ...