Business Services Industry
Lucent, AT&T Hit 52-Week Lows as Earnings Warnings Spur Dow Dip.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, September, 2000 by Johnson, Tom
Sep. 27--Telecommunication stocks slid again yesterday, joined by other blue chip shares as new earnings warnings, including one from photography giant Eastman Kodak Co., led to losses on Wall Street.
Lucent Technologies Inc. and AT&T Corp., two of the most widely held stocks in New Jersey, fell to 52-week lows. Murray Hill-based Lucent, a maker of telecommunications equipment, even dropped below $30 for the first time before finishing the day at $30.13, down 75 cents.
Both companies -- one in equipment and one in telecommunications services -- have been emblamatic of the industry's woes in recent months. The two have failed to meet earnings expectations much of the year, and now they're beset by prospects for dimmer growth in the future.
The...
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