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Sprint Slumps on Earnings Warning

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Sprint

fell 4% to a new low of $27.13 by midmorning after saying it expects third-quarter earnings of 45 to 47 cents a share for its FON group, which includes its local and long-distance telephone operations and its data business. The

First Call/Thomson Financial

estimate is 49 cents. Other telephone stocks slumped as well.

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WorldCom

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fell to $27.44, the latest in a series of new lows.

AT&T

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was down 2.8%.