Globespan

(GSPN)

was down 14% in early afternoon, a day after it warned that first-quarter earnings per share would be just 10 cents to 13 cents, below the Street's estimate of 18 cents.

The communications-equipment maker also warned that second-quarter earnings will be 8 cents to 10 cents per share, short of the Street's 17-cent estimate.

Prudential Securities

and

SG Cowen

cut first-quarter and 2001estimates and

Thomas Weisel

downgraded it to buy from strong buy.