Subject: [NEXTEL-1] Prices mixed; Nextel falls; AT&T move

From: [email-masked]
Date: Thu, 04 Dec 2003 16:53:24 -0500

Prices mixed; Nextel falls; AT&T move

By Jeffry Bartash, CBS.MarketWatch.com
Last Update: 4:33 PM ET Dec. 2, 2003

WASHINGTON (CBS.MW) - Telecommunications stocks traded mixed to lower in Tuesday

action, with the bulk of the decline in the phone sector.

At day end, the American Stock
Exchange's Networking Index, which
represents large manufacturers, slipped 0.8
percent as 10 of the 15 component stocks
retreated.

Juniper Networks (JNPR: news, chart,
profile) was the top decliner, losing 3
percent to $18.38. On the upside, 3Com
(COMS: news, chart, profile) busted out for
a 4.8 percent gain to $8.07.

The more broadly based Nasdaq
Telecommunications Index shed 0.9
percent.

Twelve of the 20 largest stocks tacked
lower, with a 2.8 percent drop in Nextel
Communications, the group's third largest
equity, weighing heavily on the index.

Nextel (NXTL: news, chart, profile) gave up
74 cents to $25.55.

In the phone sector, eight of the 13 stocks
in the Standard & Poor's Communications
Services Index declined.

AT&T, which hired a new president, lost 8
cents to $20.27. Earlier, the company said
Betsey Bernard left to pursue "other
opportunities" and was replaced by William
Hannigan, chief executive of the travel
company Sabre Holdings.

Hannigan is a longtime associate of AT&T
(T: news, chart, profile) Chief Executive
David Dorman.

"(W)e think Dave Dorman has decided to
bring in a senior executive with greater
experience in the business-services arena
-- clearly the future of AT&T given the
dramatic rate of contraction of AT&T
Consumer revenues," the brokerage Merrill
Lynch told clients in a Tuesday note.

Bernard, a longtime Ma Bell executive, was
initially brought back to AT&T in March
2001 to prepare the issuance of a "tracking"
stock for the company's consumer
long-distance business. AT&T later dropped
those plans.

Sprint (FON: news, chart, profile) and
BellSouth (BLS: news, chart, profile) rose.
http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7BEBDC3488%2D51FC%2D4283%2DBF2B%2DC3DFE9D8DCA1%7D

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