Optical networks equipment maker Sycamore Networks (SCMR) was up 10.8% in late morning, benefiting from Ciena's (CIEN) - Get Report positive earnings report.

Sycamore late Tuesday posted a third-quarter loss that missed estimates by 1 cent and said it expects revenue to remain flat for the fourth quarter, adding that it plans to reduce operating costs by $13 million to $15 million, partly through reductions in hiring and capital spending.