Publish date:

Lucent Hits Another Low

Author:

Lucent Technologies

(LU)

was down 4.5% midafternoon after hitting a new low of $35.75 earlier. Fears of a drop in telecommunications equipment spending drove several stocks down. But

Merrill Lynch

this afternoon called those fears "overblown" and said demand should continue to be strong.

TheStreet Recommends

Nortel

(NT)

was lately off 6.2%. Fiber-optic network companies were also shaken today.

JDS Uniphase

(JDSU)

was lately down 5.3%.