ADC Telecommunications (ADCT) - Get Report was down 15% in preopen Island trading. After Thursday's close, the telecom equipment maker reported a pro forma second-quarter loss of 15 cents per share, worse than the Thomson Financial/First Call estimate of 13 cents and the year-ago 10-cent profit.
Including all items and charges, the loss was $1.33 per share. ADC said it expects the economic slowdown to continue for the rest of the year.
Credit Suisse First Boston
cut estimates for the company this morning.