Subject: [NEXTEL-1] Phone stocks, Alcatel, XM advance

From: Marcel <[email-masked]>
Date: Fri, 31 Jan 2003 18:45:09 -0500

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TELECOM STOCKS

Phone stocks, Alcatel, XM advance

By Jeffry Bartash, CBS.MarketWatch.com
Last Update: 4:33 PM ET Jan. 31, 2003

NEW YORK (CBS.MW) - Powered by the phone group, telecommunications stocks on Friday forged higher to close out the week on a positive note.

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Big phone stocks, measured by Standard & Poor's Communications Services Index, jumped 2.7 percent, picking up steam late in the day.

AT&T (T:
news,
chart,
profile) and Sprint (FON:
news,
chart,
profile) led the way with 5 percent gains. Every major phone stock rose except for Qwest Communications (Q:
news,
chart,
profile). It fell a penny to $4.52.

Outside the phone group, stocks ended mixed.

The American Stock Exchange's Networking Index, which represents large manufacturers, inched 0.1 percent higher.

Alcatel (ALA:
news,
chart,
profile) jumped nearly 9 percent to $7.26 although there was no major news. Beyond that, other stocks clung to a narrow range.

The Nasdaq Telecommunications Index, which tracks younger equipment manufacturers and phone carriers, rose 1.3 percent.

Twelve of the 20 largest index equities advanced. Nextel Communications (NXTL:
news,
chart,
profile) rose 4 percent, making it the most active mover.

XM Satellite Radio (XMSR:
news,
chart,
profile) climbed 8 percent to $4.59 after Bear Stearns upgraded the stock.
Jeffry Bartash is a reporter for CBS.MarketWatch.com in Washington.

More TELECOM STOCKS
•Action slows; eyes on Sprint, Qwest 10:49am ET 01/30/03
•Verizon gains on results; Sprint sags 4:12pm ET 01/29/03
•Phone stocks fall; vendors advance 4:47pm ET 01/28/03
•Equities mixed; more earnings on tap 1:55pm ET 01/27/03
•Equities fade despite Nortel boost 5:08pm ET 01/24/03

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•Action slows; eyes on Sprint, Qwest 10:49am ET 01/30/03
•Verizon gains on results; Sprint sags 4:12pm ET 01/29/03

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