Wall St. Likes AT&T Spin-off // Lucent Jumps 13% in Biggest U.S. IPO Ever

NEW YORK A large chunk of AT&T broke off Thursday, becomingLucent Technologies Inc. and setting off an investor stampede for astake in the biggest initial public offering of a U.S. company.

Investors pushed Lucent's value up 13 percent, proof not only ofinterest in the growing communications equipment industry but astrong stock market.

Lucent's 112 million shares were initially priced at $27 each,making the total offering worth $3.02 billion. Lucent's stockreached $32 in the morning but drifted lower through the day to closeat $30.62 1/2. It was the most active issue on the New York StockExchange. AT&T stock closed down $1.25 to $62.87 1/2, also on …