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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (43048)	2/13/2006 12:07:47 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 67928

8:30AM Nortel rallies in pre-open on analyst upgrade (NT) by Tomi Kilgore NEW YORK (MarketWatch) -- Nortel Networks (NT) rallied over 2% in pre-open trading after Prudential upgraded the company to overweight from neutral weight, on the belief that the settlement of shareholder lawsuits will allow the company to focus on generating sales and cash flow growth. Analyst Inder Singh said he has been expecting the company to implement a restructuring that could boost operating margins through either the sale of discontinuing of one or more product lines. Singh also expects the company to weight capital spending towards the second half of 2006. "With less growth in spending during the first half, we believe Nortel's ability to better position its product portfolio could provide a catalyst for its shares that other vendors are not as well positioned to draw upon," Singh said. The stock was last up 7 cents, or 2.4%, at $3.03 in Instinet.