Bellwether fiber-optic supplier
was up 5% in midmorning, lifting other stocks in the sector and giving technology issues a boost. The company late Thursday reported better-than-expected results and forecast higher growth.
Credit Suisse First Boston
reiterated its buy rating and lifted its earnings outlook,
raised its estimates and
also encouraged buying the stock. Other optical and network issues, battered earlier this week when
disappointed the Street, were rising.
climbed 2.2% and
was up 5%. Nortel itself was up 2.1%.