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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (7021)	9/27/2000 4:41:00 PM
From: Kenneth E. Phillipps	Read Replies (3) \| Respond to of 14638

Here is the explanation: Optical Stocks Hit By Rumor Optical stocks took a beating on the Nasdaq today, with some down as much as 11 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 reveal negative news regarding the optical industry based on a survey of over 60 companies in the sector. Some of the stocks hit the hardest today were 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 fell about 5 percent. While 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 lightreading.com