Lucent Down on Telecom Weakness - TheStreet

Lucent (LU) was down 3.6% at the bell, hitting a 52-week low of $5.04, and was the most active stock on the NYSE for most of the afternoon.

A number of analyst downgrades and comments related to the slowdown in the telecom sector helped drag down the troubled network equipment maker's already sinking shares. Among them were a profit warning by

Tellabs

(TLAB)

, two downgrades of

Ciena

(CIEN) - Get Report

and a

Morgan Stanley

downgrade and negative comments on

Qwest

(Q)

.

Tellabs was down 24%, Ciena was up 1.8% and Qwest was down 4%.