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BUSINESS BRIEFS.(TO THE POINT)
TELECOM
Verizon latest Baby Bell to warn
The No. 1 U.S. local phone company earned 77 cents a share in Q2 ex-charges of $4.1 bil, matching a year ago and analyst views. It lost a net $2.1 bil. Revenue fell a bit to $16.83 bil. Citing weak demand and tough competition, Verizon cut '02 profit, sales and capital spending targets. After last week's warnings by SBC and BellSouth, investors weren't surprised. Verizon rose 9%.
Verizon Wireless, the Verizon-Vodafone joint venture, said revenue rose 7% to $4.37 bil as it added more subscribers than expected.
TELECOM GEAR
Microsoft, AT&T Wireless in deal
The firms will offer mobile software and service to corporations. They'll develop and distribute Pocket PCs, laptops and "smart phones" using Microsoft's operating ...
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