Deep Decline for Data Center Stocks

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Today’s numbers from Wall Street are grim. The Dow lost a record 777 points (7 percent) after the House of Representatives rejected the financial bailout package. The S&P 500 slid 8.8 percent, and the NASDAQ lost 200 points, shedding more than 9 percent of its value. As bad as those numbers were, the daily percentage losses were even steeper for many shares of companies in the data center sector. Here’s a look at the day’s damage:

Level 3 is likely getting particular attention due to its debt load. As we noted this morning, the company says it has $666 million in cash and cash equivalents and has no debt coming due until a $362 million payment in Sept. 2009.

About the Author

Rich Miller is the founder and editor-in-chief of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.

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