Nortel, Telcos Dodge Tech Avalanche - TheStreet

Nortel

(NT)

was up 8% after

Merrill Lynch

said in a research note that selling it because of

Intel's

warning would be an "overreaction."

Motorola

(MOT)

, also mentioned in the Merrill note, was up 0.8%. Telco stocks in general were avoiding the slump.

Ericsson

(ERICY)

was up 3.1% and

Nokia

(NOK) - Get Report

gained 4.2%.

Lucent

(LU)

turned up 2.2% after setting several new lows this week.