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Technology Stocks : Corvis (CORV)

CORV 0.420

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May 27 5:00 PM EST

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To: vladz who wrote (239)	9/27/2000 8:47:18 PM
From: ms.smartest.person	of 325

Optical Stocks Hit by Rumor -------------------------------------------------------------------------------- Optical stocks took a beating on the Nasdaq today, with some down more than 10 percent. One reason could be rumors floating around Wall Street that research analyst Paul Sagawa of Sanford C. Bernstein & Co. Inc. will downgrade several optical stocks this evening after the market closes. Sagawa will lead a conference call tomorrow morning at 11 a.m. EST where he is expected to announce negative optical industry news, based on a survey of over 60 companies in the sector. One of the stocks hit the hardest today was ADC Telecom (Nasdaq: ADCT). Coming down off its high of $29 this morning, the stock fell roughly 11 percent. JDS Uniphase Inc. (Nasdaq: JDSU) also took a hit, its stock falling about 5 percent. Lucent Technologies Inc. (NYSE: LU) and Nortel Networks Corp. (NYSE/Toronto: NT) also dipped about 5.5 percent and 9.2 percent, respectively. High flyers such as Juniper Networks Inc. (Nasdaq: JNPR) (down 2 percent) and Corvis Corp. (Nasdaq: CORV) (down 7 percent) also suffered. Sagawa did not return phone calls before press time. -- Marguerite Reardon, senior editor, Light Reading, lightreading.com --------------------------------------------------------------------------------

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