Word: worldcom
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...phone gods would rather focus on things like last week's $115 billion merger of MCI WorldCom and Sprint. It's a record-size deal befitting record-size egos and has implications for Wall Street, where they're trying to identify tomorrow's survivors--and the targets those companies will swallow today. If you want to play, look for AT&T, MCI WorldCom, Bell Atlantic and SBC to survive; their targets include many small cable and wireless companies, along with such big outfits as Bell South, Global Crossing, Cincinnati Bell, Qwest and Nextel...
Could it be true ? that in the big, bad world of American business, money isn?t everything? Sprint board members are mulling a pair of monster cash-and-stock takeover offers from fellow telecom giants MCI-WorldCom ($65 a share) and BellSouth (an eleventh-hour $72 a share, both according to the Wall Street Journal). But though both offers could be the better part of $100 billion, CNNfn reports that Sprint will choose MCI?s poorer dowry in a vote as early as Monday. What gives? The reason may be that a lack of post-handshake regulatory headaches...
...find the next Merck, which was a fabulous stock for so many years. Later, people wanted to find the next Microsoft. Then we searched for the next Amgen, and for the past few years we've wanted to find the next Intel. Recently we wanted to find the next WorldCom and the next America Online...
Most important, though, the reason you shouldn't hunt for the son is because the parents are doing just fine, thank you. That's why Cisco and other deities WorldCom, Microsoft, America Online and Intel remain core holdings of Cramer Berkowitz. Sure, a Cisco Junior would be a nifty trade. But when you are investing, you stick with winners. I don't need to go hunting for the next great networker. I already own the greatest...
...have needed this deal more than anyone else did. While the company posted a healthy $1.78 billion profit last quarter (in 1998 it earned $5.4 billion on sales of $53 billion), its core long-distance business suffered a 3.4% decline in the face of stiff competition from MCI WorldCom and Sprint. Also worrisome: AT&T's wireless-telephone business is in danger of being lapped by Sprint PCS. MediaOne provides AT&T with sorely needed growth opportunities in previously closed markets, particularly local telephone. "That's what AT&T really knows how to do," says Armstrong. "We're going...