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Nortel Woes Update

2:30 PM -- As if Nortel Networks Ltd. 's week hasn't been tough enough, RBC Capital Markets analyst Mark Sue added a stinging blow to the Canadian vendor in a research note issued following Monday's big news. (See Nortel Culls 1,300 Jobs, Loses $3.4B.)

Sue cut his target price on Nortel's stock to zero -- yup, $0.00 -- and suggested that bankruptcy is a "distinct possibility." Read this Reuters report for more details.

Nortel's share price currently stands at $0.62, down 20 percent today. During the past year the vendor's share price has been as high as $19.42 and as low as $0.52.

— Ray Le Maistre, International News Editor, Light Reading

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