was falling in the late session after saying it will eliminate another 9,400 workers and post a wider-than-expected first-quarter loss. The company maintained its fourth quarter guidance at an operating loss of 4 cents to 5 cents a share, but said the performance of its global telecom and broadband units during the period has been worse than expected.
The shortfall is being offset by better-than-expected performance in its commercial, governmental and industrial and personal communications systems segments. The company expects sales in the fourth quarter to be flat to 3% higher than the $7.24 billion it posted in the third quarter. For the first quarter of 2002, the company sees a sequential sales decline of 14% and a pro forma loss of 11 cents to 14 cents a share, wider than the 3-cent analyst consensus. The company said it still expects to turn a profit for all of 2002.
was the most active stock in late trading, adding 72 cents, or 13.6%, to $6.03. The company said it lost $47 million, or 14 cents a share, in the latest quarter, narrowing the year-ago deficit and beating consensus estimates by 8 cents a share.
was also sharply higher after a New York hedge fund threatened to lead a shareholder revolt if the company continued to stonewall the takeover efforts of rival paper-products company
. Willamette was gaining $3.28, or 6.8%, to $51.85 on Instinet.
was falling sharply after saying it expects to report losses in the fourth quarter of this year and in the first quarter of 2002. The company cited delayed orders, saying it expects sales of $64 million to $66 million, short of previous estimates of $75 million. The company's shares were off $1.92, or 13%, to $12.18 on Instinet.