Cisco's

(CSCO) - Get Cisco Systems, Inc. Report

after-hours profit warning Monday wasn't a good sign for the networking heavyweight, but investors displayed mixed emotions about the sector as a whole in today's session.

Cisco was by far the most actively traded stock on the

Nasdaq

this morning, with more than 106 million shares changing hands by midday. Shares of Cisco dropped $1.20, or 7%, to $15.99 in recent trading. After the bell on Monday, the company said its third-quarter revenue would

decline 30% sequentially. Cisco also said earnings should be in the "very low single digit" range. Wall Street expected the company to earn 8 cents a share and post revenue of $5.95 billion.

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Juniper Networks

(JNPR) - Get Juniper Networks, Inc. (JNPR) Report

was up 35 cents, or 0.7%, to $48.73, and

Redback Networks

(RBAK)

rose 81 cents, or 4.8%, to $17.90 on the Nasdaq.

JDS Uniphase

(JDSU)

lost 0.5%, and

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Corning

(GLW) - Get Corning Inc Report

traded higher by 0.8%.

Ciena

(CIEN) - Get Ciena Corporation Report

added 4% to $53.60, but

Sycamore Networks

(SCMR)

fell, losing 40 cents, or 4.3%, to $9.

Lucent

(LU)

was off 4.6%, while

Nortel

(NT)

dropped 2%.

"I think its kind of a relief rally. Some analysts think that perhaps we've heard the worst", said Jay Ritter, an analyst with

Morningstar

. "It was widely expected that Cisco would miss its numbers." Ritter added that "it's still too early to say if corporations and phone companies will start to spend more later in the year." He said he expects the sector to "most likely bump along the bottom until we see some signs that capital spending increases."