2/6/2012 10:31 AM ET
(RTTNews) - Networking stocks have moved sharply lower in morning trading on Monday, giving back some ground after moving substantially higher last Friday.
Reflecting the weakness in the networking sector, the NYSE Arca Networking Index is down by 1.5 percent after ending the previous session at a six-month closing high.
The pullback by networks stocks comes as some traders as cashing in on the recent strength in the sector. Profit taking is also contributing to weakness in the broader markets.
After helping to lead the sector higher on Friday, Infinera (INFN) has shown a notable move back to the downside and is currently down by 4.1 percent.
Shares of Infinera surged up by 14.6 percent in the previous session after the company reported better than expected fourth quarter results.
Alcatel-Lucent (ALU) and Juniper Networks (JNPR) are also posted notable losses on the day, falling by 3.1 percent and 2 percent, respectively.
by RTT Staff Writer
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