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ICG Pummeled After Warning


Telecommunications services provider



lost more than half its value -- falling 52% -- and struck a new all-time low of 1.75 after it said second-half earnings would be down significantly due to technical problems. It also said it needs additional funds and is seeking help to explore its options. The company also said some of its principal customers may terminate their agreements if ICG cannot resolve problems. ICG now expects a loss before

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EBITDA of $25 million instead of its earlier estimate of a $60 million profit. The stock was at 26.38 as recently as June 9.