Nortel Networks Slips Further

By TSC Staff ,

Nortel Networks (NT) was down another 0.6% in early trading after closing Friday down 7%, and setting a 52-week low of $8.75.

Nortel warned Friday that it will lose 48 cents per share in the second quarter on revenue of $4.5 billion, vs. analysts' expectations of $6.22 billion. Nortel also said it will cut 10,000 jobs and take a $12.3 billion charge.

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