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TXU Lowers Earnings Forecasts for 2002-03; Cites UK Losses
TXU Corp., which so far had remained unscathed in either rumor, innuendo or loss of investor confidence, saw the lights dim Friday after drastically revising downward its earnings forecasts through 2003. By midday, credit ratings agencies were re-evaluating the company’s operations, and investors were selling off their stocks in record numbers.
October 7, 2002
TXU Lowers Earnings Forecasts for 2002-03; Cites UK Losses
TXU Corp., which so far had remained unscathed in either rumor, innuendo or loss of investor confidence, saw the lights dim Friday after drastically revising downward its earnings forecasts through 2003. By midday, credit ratings agencies were re-evaluating the company’s operations, and investors were selling off their stocks in record numbers.
October 7, 2002
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