Morgan Stanley Slaps JDS Uniphase Down 3.1%
JDS Uniphase
(JDSU)
was down 3.1% in late morning after
Morgan Stanley Dean Witter
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sliced the optical component maker's price target to $50 from $95.
Morgan Stanley also lowered its third-quarter earnings estimate to 16 cents from 17 cents a share, saying it expects sales to fall.
JDS Uniphase issued a warning last week.
