Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

BoA Keeps 'Market Perform' on SBC Communications


Banc of America keeps its market perform rating on SBC Communications (SBC).

Analyst David Barden says consistent with earlier comments, SBC slashed its 2003 capital spending and headcount. At this point, ahead of third-quarter results, it is unclear whether the company is being proactive, or reactive to an environment that is shaping up to be worse than anticipated. Barden now expects $7 billion capital spending in 2002 vs. the $7.8 billion estimate and cutting the 2003 spending estimate to $5.5 billion.

While the company's competition has made good on promises to bring lower prices to consumer via UNE-P, the company now is making good on threats that current wholesale pricing will not support ongoing investment in infrastructure or service quality improvements.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus