Confusion sparks Nortel selloff

Article Abstract:

Northern Telecom Ltd.'s stock dropped 12% after some analysts misinterpreted whether the company will meet its sales and earnings targets for the next two years. The confusion prompted a selloff, which trimmed nearly C$4-billion off the market value of the Brampton, Ontario-based telecom equipment manufacturer as over C$1.9 million shares were unloaded at the Toronto Stock Exchange (TSE). The company's stock closed at a 52-week low because the halt called by the TSE was not cancelled before trading closed.

Comment:

Its stock dropped 12% after some analysts misinterpreted whether the co will meet sales & earnings targets for the next 2 years

Telecommunications Equipment, Communications Equipment Manufacturing, Securities prices, Ontario, Telecommunications systems, Northern Telecom Ltd., Article

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Capital spending boosts Call-Net's loss

Article Abstract:

Call-Net Enterprise Inc, owner of Canada's biggest alternative long- distance carrier, Sprint Canada Inc, saw its loss increased to C$236.7 million in 1998 due to C$482 million in capital expenditures. Juri Koor, the Toronto, Canada-based company's chief, said that the increased capital spending in 1998 was necessary to boost revenue in 1999 and make the company more competitive in a tightly fought long-distance telephone business.

Canada, Sales, profits & dividends, Call-Net Enterprise Inc.

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