JDS Uniphase Down 8.8% as Estimate Is Trimmed
JDS Uniphase
(JDSU)
was down 8.8% in midafternoon.
WR Hambrecht
reiterated its buy rating but reduced its revenue estimates and lowered its 2001 earnings forecast to 81 cents from 82 cents, saying that near-term growth prospects for the fiber-optics giant might be "more challenging" than anticipated.
U.S. Bancorp Piper Jaffray
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TheStreet Recommends
, which reiterated its strong buy, said it expects the company to raise revenue guidance and lower its earnings estimate next week to reflect Tuesday's approval of its merger with
SDL
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and the sale of a plant to
Nortel
(NT)
.
