High-speed Internet company

Covad

(COVD)

was down 14.3% in midmorning after rising in the preopen. Covad said it expects a fourth-quarter loss before items of $180 to $190 million on revenue of $60 to $65 million. The figures are on an

EBITDA basis. The company did not provide earnings per share figures. Covad, which recently announced plans to cut its workforce by 13%, said it would take a fourth-quarter restructuring charge of $20 million.