Tut Systems Down 35.8%, Touches 52-Week Low on Dain Rauscher Downgrade

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Broadband-systems company

Tut Systems

(TUTS)

was down 35.8% in early afternoon after touching a 52-week low of $10.47.

Dain Rauscher Wessels

downgraded it to buy aggressive from strong buy aggressive, saying it does not expect the company to see much revenue from South Korea in the next two quarters. In addition, the brokerage said domestic sales may be at risk as broadband companies curtail their spending. Dain Rauscher revised its 2000 estimate to a loss of 14 cents a share from a gain of 21 cents.