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Lucent Hits Another Low


Lucent Technologies


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.

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

JDS Uniphase


was lately down 5.3%.