Nortel Slides as Customer-Inventory Questions Resurface

Nortel (NT Quote) hit a 52-week low Friday as Wall Street questioned the company's ability to regain its footing in the aftermath of last quarter's customer-buying binge and an ongoing industrywide spending slowdown.

Sliding Slowdown worries trash Nortel stock

Banc of America Securities equipment analyst Chris Crespi told clients Friday morning that Nortel may need until the end of the first quarter to recover from the stockpiling of optical equipment that occurred in the third quarter of this year. Nortel fell $1.44, or 4.2%, to $33 Friday amid a mild tech selloff, leaving the stock at barely a third of its peak value. ...