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Today's report from Web Editor
Susan Rush
• 360networks Raises 2001 Estimates
• Verizon Invests In Franklin
• Soap Opera Streams Sneak Peeks
• Broadband Briefs
360networks Raises 2001 Estimates The
future looks bright, according to 360networks.
The fiber-optic network builder is forecasting evenue of $3.1 billion to
$3.3 billion and cash flow from operations of $2.5 billion to $2.6 billion
for 2001. These figures are about 40 to 50 percent higher than previous
analyst estimates, according to the company. 360networks' shares were
up 19 cents this morning, trading at $11.25 as of 10:12 a.m. EST.
News reports were circulating late Friday, that 360networks
had fallen short of analysts' revenue expectations by $200 million, but Mark
Grotevant of Credit Suisse First Boston denied the reports. "Contrary
to a recent wire story, we are pleased with 360networks' progress, outlook
and revised guidance, which are all ahead of previous expectations," he
said.
On Friday, the company announced plans to develop metro rings
in 35 major cities by the middle of next year -- targeting cities in North
America, Europe, South America and Asia.
Related Stories:
360
Reports Financials, BroadbandWeek Direct, 11/9/00
Alcatel
Does A Billion Dollar 360, BroadbandWeek Direct, 11/1/00
Verizon Invests In Franklin
It's all about capacity and reliability when it
comes to building and maintaining a fiber optic network, and Verizon
Communications Inc. is ready to fork over some additional money to keep
its Franklin County, Mass. telecommunications network up to snuff. The DSL
provider plans to invest $400,000 to expand and upgrade the network by the
end of 2001.
The project will include the installation of
more than 10 miles of fiber-optic cable from Shelburne Falls through
Buckland to Ashland.
In the state of Massachusetts, Verizon is
already offering DSL services to more than 1.2 million households.
Related Stories:
Verizon's
DSL Horizon, Broadband Week, 11//00
NorthPoint's
Stock Tanks, BroadbandWeek Direct, 11/30/00
Soap Opera Streams Sneak Peeks
For devoted daytime television fans soap operas
and their stars are more than just TV shows and characters, they are like
family. Since many fans can hardily wait until tomorrow to find out what
will happen next with "Lucy" or "Kevin," executives at ABC
are turning to streaming media to deliver sneak peeks of what's in store for
the young doctors of "Port Charles."
ABC.com will play host to a new 30-second
streaming media clip each evening (after 6 p.m. EST) to whet the appetite of
"Port Charles" fans for the next day's show. The sneak peeks mark
ABC.com's first use of streaming media on its Web site.
"The ABC.com 'Port Charles' initiative is
an example of how ABC.com is converging with the ABC Network programming to
enhance the total viewing experience for our audience," says Brian
Bowman, vice president and general manager of ABC.com.
Related Stories:
Streaming
For Dollars, Broadband Week, 12/00
Markets
Move...Streaming News, Broadband Week, 12/00
Broadband Briefs:
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Kite Networks launches Beta
delivery of its wireless broadband services in Phoenix. The service will offer
subscribers high-speed always-on Internet access, e-mail and Web hosting. A
full-scale launch in Phoenix is slated for the first quarter of next year, with
additional city rollouts to follow throughout 2001.
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iBEAM Broadcasting Corp. will
deliver its streaming media services to 620,000 Oregonians, including 530,000
students in K-12. Under the terms of the agreement, iBEAM will install its
MaxCaster media serving systems at the Oregon Internet Exchange, which provides
a technical solution that enables various service providers to exchange Internet
traffic with each other.
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Cisco Systems Inc. will
attempt to reassure investors at its annual financial analyst meeting in San
Jose, Calif. that it will be able to continue to produce strong financial
results, its flagging stock price to the contrary.
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Chester Telephone Co.
plans to field trial Symmetricom Inc.'s
GoLong Loop Extender in an effort to double the reach of its DSL network serving
a rural midlands area of South Carolina.
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Everest Broadband
Networks expands its broadband service footprint in New York. The service
provider inked a deal to deliver high-speed services to tenants of the Telecom
Center@Bush Terminal in Brooklyn, N.Y. Everest will also offer its services to
Cammeby's International tenants residing in seven New York City buildings.
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The Portuguese government raised $630 million today, after
selling an 11 percent stake in Portugal Telecom. The sale of 111.3 million
shares represents the final stage in the company's privatization efforts. The
government kept 500 "golden shares," which enables it to retain voting
rights in the company.
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Pacific Internet Ltd.
selects Copper Mountain's CopperEdge
DSL concentrator to deliver DSL broadband services to its business customers in
Singapore, Hong Kong, the Philippines, Australia, India and Thailand.
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