24/7 Wall St.
09-09-2008, 10:20 AM
24/7 Wall St. Daily News
TW Telecom Inc. (NASDAQ: TWTC), the former Time Warner Telecom, is having a rough morning. Last night the company submitted an SEC Filing showing that it was going to warn of slower revenue trends at an investor conference. The company said that it is still experiencing revenue pressure from disconnects from mortgage industry customers and from very small customers. The weakness in the Midwest is seeing a potential extension of the slowing economy in the Southeast and in individual markets in other regions. To add fuel to the fire, it is warning that it may experience a small business customer churn as it disconnects non-paying customers.
So far we are seeing two downgrades in the stock. Citigroup has takenits Buy rating down to a Hold rating and Merriman Curhan Ford has cutits Buy rating down to a Neutral rating. Soleil has recently upgraded this stock, and both JPMorgan and Oppenheimer had cut their ratings on this one last month.
This telecom provider is going to be opening on new 52-week lows as theprior range was $13.61 to $24.00. Shares are down 22% at $11.50 inearly pre-market trading and we have seen over 70,000 shares tradehands. With an average of 2.5 million shares trading hands each day,this could seen an exponential volume surge today.
Before this drop its market cap was listed as still being almost $2.2Billion. Analysts were previously looking for $1.17 Billion in 2008revenues and $1.27 Billion next year. Those numbers are going to belower as of today's data.
Jon C. Ogg
September 9, 2008
http://feeds.feedburner.com/~f/typepad/RyNm?i=EOBBL</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=EOBBL) http://feeds.feedburner.com/~f/typepad/RyNm?i=5Fi4L</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=5Fi4L) http://feeds.feedburner.com/~f/typepad/RyNm?i=lOIhl</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=lOIhl)
complete story here... (http://www.247wallst.com/2008/09/tw-telecom-feel.html)
TW Telecom Inc. (NASDAQ: TWTC), the former Time Warner Telecom, is having a rough morning. Last night the company submitted an SEC Filing showing that it was going to warn of slower revenue trends at an investor conference. The company said that it is still experiencing revenue pressure from disconnects from mortgage industry customers and from very small customers. The weakness in the Midwest is seeing a potential extension of the slowing economy in the Southeast and in individual markets in other regions. To add fuel to the fire, it is warning that it may experience a small business customer churn as it disconnects non-paying customers.
So far we are seeing two downgrades in the stock. Citigroup has takenits Buy rating down to a Hold rating and Merriman Curhan Ford has cutits Buy rating down to a Neutral rating. Soleil has recently upgraded this stock, and both JPMorgan and Oppenheimer had cut their ratings on this one last month.
This telecom provider is going to be opening on new 52-week lows as theprior range was $13.61 to $24.00. Shares are down 22% at $11.50 inearly pre-market trading and we have seen over 70,000 shares tradehands. With an average of 2.5 million shares trading hands each day,this could seen an exponential volume surge today.
Before this drop its market cap was listed as still being almost $2.2Billion. Analysts were previously looking for $1.17 Billion in 2008revenues and $1.27 Billion next year. Those numbers are going to belower as of today's data.
Jon C. Ogg
September 9, 2008
http://feeds.feedburner.com/~f/typepad/RyNm?i=EOBBL</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=EOBBL) http://feeds.feedburner.com/~f/typepad/RyNm?i=5Fi4L</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=5Fi4L) http://feeds.feedburner.com/~f/typepad/RyNm?i=lOIhl</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=lOIhl)
complete story here... (http://www.247wallst.com/2008/09/tw-telecom-feel.html)