NEW YORK (AP) - With the exception of Alcatel-Lucent, most
telecommunications equipment makers advanced after the Federal Reserve cut a key
interest rate by a quarter-point to 2 percent, in line with expectations.
Wall Street believes this could be the end of the Fed's recent rate cuts
unless the economy falters worse than expected. Paris-based Alcatel-Lucent also
said it expects full-year sales to decline.
How some key telecom equipment stocks performed Wednesday:
Cisco Systems Inc. rose 34 cents to $25.85.
Alcatel-Lucent's American Depositary Shares fell 36 cents, or 5.1 percent,
to $6.70.
Nortel Networks Corp. fell 18 cents, or 2.1 percent, to $8.55.
Juniper Networks Inc. rose 47 cents to $27.83.
3Com Corp. rose 6 cents, or 2.6 percent, to $2.40.
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