Nortel Networks (NT) NewsBite - NT Downgraded By RBC Capital Markets

Posted: Monday, October 06, 2008 1:21 PM EDT
By: Market Intelligence Center Staff

Nortel Networks (NT) was downgraded today by analysts at RBC Capital Markets and the stock is now at $1.82, down $0.26 (-12.50%) on volume of 5,553,929 shares traded. The analyst downgraded NT to "Underperform" from "Sector Perform." Over the last 52 weeks the stock has ranged from a low of $2.01 to a high of $19.50. Nortel Networks stock has been showing support around $1.87 and resistance in the $2.37 range. Technical indicators for the stock are neutral and S&P gives NT a neutral 3 STARS (out of 5) hold ranking. We will just watch this one for now. There are no hedged trades we like the look of for NT. [ABR-Seven Summits Strategic Investments NewsBite]