A Reassuring Nortel Climbs 8% - TheStreet

Nortel Networks

(NT)

was up 8.2% in midmorning after it reaffirmed that earnings and revenue would grow in the 40% range for 2000. The network equipment maker also repeated its fourth-quarter earnings forecast of 26 cents a share and reiterated its 2001 numbers. The stock had been down for three consecutive sessions on jitters about the cooling economy.