Network Stocks Rising in Preopen Trading

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Updated from 8:45 a.m. EDT

Network equipment company

JDS Uniphase

(JDSU)

was up 5% in midmorning, and router leader

Cisco

(CSCO) - Get Report

was up 4.5% as the sector bounced back from Thursday's spate of downgrades and estimates cuts.

Morgan Stanley cut its fiscal 2002 estimates on several stocks Thursday, including router leader

Cisco

, which closed lower at $11.24, but was rising in preopen trading this morning, lately up 2% on the Instinet ECN.

Storage area network stock

Brocade

(BRCD)

was up 0.4%, after a sharp decline in Thursday's session following an estimates cut for Brocade by Morgan Stanley. The stock recovered late in the session Thursday to close down but off its lows at $9.05.

Another storage area network equipment and software company

Emulex

(EMLX)

was up 6.7%, after setting a 52-week low of $8.40 Thursday, largely as a result of Brocade fallout.

Inktomi

(INKT)

was also up 5.4%, a day after it announced its networking software had been deployed by 27 Korean universities, including Korea Advanced Institute of Science & Technology and the ten national universities that form the Korea Education Networks, including Seoul National University.