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Packeteer Down 37.1% on Bear Stearns Report

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Packeteer

(PKTR)

, an Internet software-applications maker, was down 37.1% in late afternoon.

Bear Stearns

in a report said the company would be hurt by

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Intel

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revamping its

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division. But Packeteer this afternoon said Intel assured it that Intel would still purchase Packeteer's products. Packeteer was down more than 50% earlier.