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NBC Internet Down Slightly On Layoffs

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NBC Internet (NBCI) was down 4.5% recently, after announcing it would fire 150 people to cut costs in the face of soft ad revenue. It was trading down 10.5% in early morning activity. NBCi sliced its 2001 revenue estimate to $100 million from $150 million but said it still expects to become profitable in the fourth quarter of 2001 or the first quarter of 2002.

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