In what is becoming a familiar refrain in the secondary market, several telecom names are showing weakness due to market saturation. SpectraSite Communications is trading at 98, down from par, as dealers say $15-20 million has traded. Nextel Communications is trading in the 98 1/2 to 99 on the "B/C" paper, level to last week's trades.
In other names, Owens Illinois, which is seeking an extension on its maturity date, is trading at 89, down slightly from 90.
On the distressed side, Harnischfeger Industries traded at 41, which is down slightly from 43 last month. Integrated Health Services has softened a bit, trading around 40.