Covad Gets 18.4% Boost From Outlook
High-speed Internet company
Covad
(COVD)
was up 18.4% in preopen
TheStreet Recommends
Island
trading after saying it expects a fourth-quarter loss before items of $180 million to $190 million on revenue of $60 million 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.
