WASHINGTON (AFX) -- Telecommunications stocks tacked mostly lower in Tuesday trades mirroring the broader market as a key index flirted with a three-and-a-half-month low.
In recent action, the broad-based Nasdaq Telecommunications Index was down 1.3% at 202.8 points. The index hasn't fallen below 200 since mid-February.
Level 3 Communications Inc. , a strong performer last week, dropped more than 7%. And Ciena Corp. , which reports quarterly results Thursday, was down 3%.
Among big phone stocks, Sprint Nextel Corp. dropped more than 2% and Alltel Corp. lost as much as 1.5% in value.
Embarq Corp. , the local-phone business spun off by Sprint, added nearly 2% in value to $41.79. BellSouth Corp. also rose a few pennies. This story was supplied by MarketWatch. For further information see www.marketwatch.com.
© 2006 AFX News
