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Rhythms NetConnections Sinks on Downgrade

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Rhythms NetConnections

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was down 12.1% in midmorning after hitting a 52-week low of 88 cents.

Salomon Smith Barney

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downgraded the DSL services provider to neutral from buy and slashed its price target to $1 from $10. The stock is down from a 52-week high of $50.