Tellabs drops most in S&P 500 after Barclays reduces estimate

Tellabs Inc. fell the most in the Standard & Poor's 500 Index after Barclays Plc cut its share-price estimate on concern the maker of telecommunications equipment may not be picked by AT&T Inc. as a supplier for a high-speed wireless Internet network known as long-term evolution.

Barclays reduced the share-price estimate to $7 from $9.50. The stock dropped 5 percent to $7.48 as of 9:54 a.m. in New York.

Tellabs is based in Naperville.