Cisco Systems

(CSCO) - Get Report

slipped 1.6% in preopen

Island

after

Sanford C. Bernstein

downgraded the company and

Nortel

(NT)

to market perform from market outperform.

The downgrade was affecting other optical network equipment companies.

JDS Uniphase

(JDSU)

was down 0.8%. Nortel today said it won $525 million in contracts from companies in China and Taiwan.