Analysts predicted that the downbeat news will set off a wave of lowered forecasts from rivals over the next few weeks.

While WorldCom's growth rate still remains above that of its chief competitors, the lowered forecast was enough to unnerve investors.

Investors focused on Coke's lowered forecast yesterday, and sent the stock down $5.28, to $47.20.

The company's shares fell 8.9 percent, and the company issued lowered forecasts for sales and earnings through 2007.

The lowered forecast comes just six weeks after Iceland said profit for the period would be about £62 million.

But analysts paid more attention to Time Warner's lowered cash-flow forecast.

After the market closed, the company reported fourth-quarter earnings that beat lowered forecasts.

Excluding special items, the company said it earned 41 cents a share in the fourth quarter, beating its own lowered forecast.

The Treasury said the higher borrowing is a result of a lowered forecast for income tax payments during the quarter.

Among the reasons cited for the lowered forecast: fewer flights to Australia, an uncertain global economy and the continued threat of international terrorism.