Exodus Communications (EXDS) was down 9.8% in late morning after its warning Wednesday that first-quarter revenue would fall short of its earlier expectations. The manager of corporate Web sites posted a fourth-quarter loss of 13 cents per share, better than the Street's estimate of a 16-cent loss. UBS Warburg cut its price target to $55 from $85, saying the results suggest a "rocky start" to its hook-up with recently acquired GlobalCenter.

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