AT&T Slips 1.2% as Outlook Cut

AT&T

(T) - Get Report

was down 1.2% in midafternoon after

Salomon Smith Barney

lowered its 2001 earnings projection to 80 cents from $1.45 according to

Generally Accepted Accounting Principals

. The brokerage said its new 2001 cash earnings per share estimate is $1.40.