Sprint (FON) was down 2.4% in midmorning after the company said its second-quarter EPS would range from 28 cents to 30 cents. The long-distance phone company said 2001 EPS would be between $1.13 and $1.18.
Sprint blamed slowing growth and bankruptcies among its wholesale customers.
Thomson Financial/First Call
, analysts were expecting 32 cents a share for the second quarter and $1.29 for the year.
Credit Suisse First Boston
this morning cut its 2001 estimates for the company and trimmed its price target to $28 from $29.