Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next
Author: holzapfel One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2302  
Subject: Analyst Refutes Web Report Linking Firm To Rumor Date: 2/7/2001 8:10 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 3
By Christine Nuzum Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Analyst Cannon Carr of CIBC WorldMarkets put out a note Wednesday afternoon denying involvement in a rumor on Metromedia Fiber Network Inc. (MFNX, news, msgs).

Financial Web site briefing.com quoted trading sources as saying that Metromedia Fiber "has pushed back its reporting date by three weeks in what may be an attempt to secure financing prior to the report, and that such financing may be becoming more difficult to obtain."

A separate posting Wednesday morning on the Yahoo! Finance message board had attributed the information to "sources at CIBC" rather than trading sources. The posting, from a person with the screen name "readville," appeared to have been lifted from briefing.com.

A Metromedia Fiber spokeswoman said the company expects to report fourth-quarter results sometime in March, but has never set a date. She said there was no change in the company's reporting schedule.

She said several investors called the company Wednesday asking about a rumor coming from CIBC.

Cynthia Dietzman, a briefing.com equity analyst who specializes in trading flow information, declined to say if the Web site had earlier attributed the information to CIBC sources. She said the correct writeup refers to trading sources and not CIBC.

Carr said the rumor doesn't make sense, because Metromedia Fiber never set a reporting date and doesn't need financing. The company is fully funded, he said, and secured a $350 million credit facility in January.

The Metromedia spokeswoman referred questions on financing to other company officials, who were not immediately available.

-By Christine Nuzum, Dow Jones Newswires; 201-938-5172
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Value Hounds

My Big Fat Greek Splat
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement