Global Crossing Rises 12.4% on Results
Telecom services provider
Global Crossing
(GX)
was up 12.4% in late morning, a day after it posted a fourth-quarter loss of 70 cents a share, excluding items.
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That beat the Street's 89 cent-loss estimate. The company lost 17 cents a share in the year-earlier quarter.
Global Crossing said the cost of building its communications network offset growth in data services sales. The company also reiterated its previous guidance for 2001.
