One week after
said it is splitting itself into
four separate businesses,
this morning said it is
creating a tracking stock for its consumer business. The consumer business will bring back the name used by the consumer group before it merged with WorldCom,
, and will include consumer long-distance service. The company will distribute 100% of this MCI stake to shareholders.
Shareholders of WorldCom will get 1 share of MCI stock for every 25 shares of WorldCom. The stock recently was the most actively traded stock on electronic trading brokerage
and lately dropped $2.75, or 11.6%, to $21.
was bouncing up $2.56 to $47.50, after sliding 15.9% in yesterday's action after online trade magazine
Electronic Buyers' News
would phase out its use of Rambus technology.
After yesterday's triple-digit gains in the
Nasdaq, some of that optimism seemed to have scattered and futures were indicating a flat to negative opening. The
S&P 500 futures on
lately were down 6.50 to 1433.7, or about 5.5 points below fair value as calculated by
futures were 22 lower to 3278, or about 31 points below fair value as calculated by
Europe's major indices were mixed at midsession, with France's
off 0.1%, Germany's
down 0.2% and the U.K.'s
up 0.4%. Asian markets rallied. Japan's
jumped 2.3% overnight, while Hong Kong's
rose 3.1% (see today's
Asian Markets Update for more).
Elsewhere in preopen trading, on
was up down $4 to $68.44.
For Tuesday's postclose trading, see The Night Watch.
Senior editor Ellen Braitman chats with Christopher Edmonds, columnist for RealMoney.com, exclusively on TheStreet.com at 3 p.m. EST Wednesday, Nov. 1. Join them with your market and investment questions by logging on the home page.