Lucent Falls on Downgrade - TheStreet

Lucent Falls on Downgrade

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Lucent (LU) was down 11.4% in midafternoon, edging close to its 52-week low of $5.50, after SG Cowen downgraded the stock to neutral from buy.

SG Cowen Analyst Christin Armacost said there was increased risk to Lucent's guidance given the extent of the downturn affecting most of the company's business.