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Globalstar Telecommunications


was down 61.5% in late trading after two brokerages issued rare sell ratings. The company had already plunged today after badly missing third-quarter earnings estimates and losing the support of its chief financial backer,

Loral Space & Communications



Merrill Lynch

cut Globalstar to sell from neutral, saying, "we feel that the equity value of Globalstar's shares is zero."

Credit Suisse First Boston

cut it to sell from hold.



, a supplier to Globalstar, was down 9.5%.