edged up 0.2% into positive territory by midafternoon after falling in the morning on a
Sanford C. Bernstein
downgrade along with
Bernstein predicted a slowdown in telecom equipment spending but
Salomon Smith Barney
countered by reiterating their buy ratings on the companies. Nortel, also lower early, was recently up 4.2%.
Other networking and optical stocks recovered after being hit by fallout from the downgrade.
was up 0.5% and
broke out of its long slide early today and gained 10.2% after trading around two-year lows this week.