WorldCom Creates 2 Tracking Stocks and Cuts Earnings Forecasts

Following on the heels of AT&T's(T Quote) decision to split in to four units, WorldCom (WCOM Quote) announced a plan Wednesday that would create two tracking stocks to reflect the performances of its Internet unit and its beleaguered consumer long-distance business.

In a separate announcement Wednesday, the Clinton, Miss.-based telecommunications giant lowered its earnings forecasts for the fourth quarter and 2001.

Both the restructuring and the earnings revision were expected, and anticipation of the announcement was reported by the New York Times Wednesday. ...