early Wednesday --with futures sagging lower -- after telecom components Nokia and JDS Uniphase were struck with less-than-enthusiastic analyst comments.
UBS Warburg reduced its 2002 and 2003 earnings per share estimate on Nokia
and cut the European price target by 17 percent
Credit Suisse First Boston downgraded JDS Uniphase to "buy" from "strong buy" and cut its price target on the stock to $7 from $10. The firm said that while it believes the company's "No. 1 market share position and clean balance sheet will allow it to emerge from the downturn as the premier optical component franchise," it still sees ongoing market risk for the stock. JDS shares fell 19 cents to $3.80 in before-hours trading Wednesday