Ciena Slips as Analyst Cuts Rating - TheStreet

Updated from 9:22 a.m.

Optical network equipment maker

Ciena

(CIEN) - Get Report

was down 2.2% in early trading after falling 5.5% Tuesday to close at $36.74.

Merrill Lynch

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

Tellabs

(TLAB)

.

JDS Uniphase

(JDSU)

was down 5.9%, but router maker

Juniper

(JNPR) - Get Report

was up 2.5%. Tech bellwether

Cisco

(CSCO) - Get Report

was down 1%.