Sycamore Networks Down Despite Rating

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Sycamore Networks

(SCMR)

was down 5.3% in early afternoon.

Banc of America

started coverage with a buy and a target of 70, part of an initiation of several networking companies. Banc of America also started

Avici

(AVCI)

with a buy and a $45 target and

Redback

(RBAK)

with a buy and a $100 target. But Avici was down 15.2% and Redback was down 13.2% as telecommunications companies fell broadly.