Nortel's Numbers Bearing the Weight of WorldCom Spending Worries

Even Wall Street bulls are bearish on Nortel Networks (NT Quote), and the prevailing sentiment is that the telecom gear giant will soon slash anew its sales and profit projections.

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With new customers failing, established customers shaken and networking rivals swiping sales, investors and analysts are seeing what Nortel can't: Growth is slowing to a crawl. Nortel last month cut expectations in half, targeting 15% revenue growth for the year, citing the steep economic downturn and heavier-than-expected capital constraints hammering its customers. At the time, the company remained confident that the slowdown would only moderately hurt results for the year. ...