Avici Rises 26.5% on Issuance of Warrant to AT&T

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Avici Systems (AVCI) was up 26.5% in midmorning trading after announcing it issued a warrant to AT&T (T) - Get Report to purchase 850,000 shares of its stock. The deal could lead to sales of Avici's routers to Ma Bell. Morgan Stanley Dean Witter cut its 12-month target for Avici to $90 from $115, citing the recent fall in the company's stock.