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(ADTN) - Get ADTRAN, Inc. Report

, a maker of high-speed digital transmission equipment, was down 35.9% in preopen Island trading after it warned late Friday that fourth-quarter earnings would be 16 cents to 20 cents per share. The Street had been expecting 55 cents per share. The company said it is experiencing a slowdown in orders.

Deutsche Banc Alex. Brown

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downgraded it to market perform from buy and cut earnings estimates for 2000 and 2001.