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Worldcom...Oh NO!!!!

  1. fitzman

    1,006 Posts.

    WorldCom tumbled after hours Tuesday after the telecommunications company restated financial results by as much as $3.8 billion, a move that could speed a filing for bankruptcy.
    WorldCom said restating these improper transfers would cut earnings by $6.339 billion for 2001 and $1.368 billion for first quarter 2002.
    But the news of alleged accounting misdeeds may only unnerve investors leery about the accuracy of corporate profits in the aftermath of Enron's bankruptcy.
    I think the last paragraph says it all...not the effect on World Com but on market sentiment.
    After hours futures are suffering as a result.


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