Nortel

(NT)

was down 0.2% in late morning after trading lower earlier after the company confirmed its guidance for 2000 and 2001. It said fourth-quarter earnings from operations will be about 26 cents a share, in line with the Street's estimate.

Overall, the company is expecting strong growth in optical, wireless and local Internet services, as well as e-business solutions. For 2000, it expects optical revenue to more than $10 billion, outpacing the growth of the overall market.