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Snyder Stock Falls After Downgrade
NEW YORK–The stock of Snyder Communications fell more than seven points on Friday to less than $20 after the company told analysts it expected lower earnings in 2000. The reason: higher costs associated with restructuring into three separate units and investments in infrastructure. The announcement led analysts to downgrade their recommendations on the shares. The Bethesda, Md.-based holding company earlier this year said it planned to issue a tracking stock for its Internet business and spin off Snyder Healthcare Services into an independent, publicly traded company.