Updated from 9:22 a.m.
Optical network equipment maker
was down 2.2% in early trading after falling 5.5% Tuesday to close at $36.74.
cut its mid-term rating on the stock to neutral from accumulate, citing concerns about the telecom slowdown.
Deutsche Banc Alex. Brown
cut its estimates on the stock Tuesday on similar concerns. The stock was also hit this morning by a warning from communications equipment maker
was down 5.9%, but router maker
was up 2.5%. Tech bellwether
was down 1%.