Weak Ciena Forecast Drags Down Telecom Gear Makers

 

 

 

Shares of network equipment providers fell Thursday after a yves saint laurent 2012 disappointing forecast from Ciena Corp.

Ciena, which makes networking equipment for telecommunications equipment, ysl shoes sale saw its shares tumble $3.26, or 19.5 percent, to end the session at $13.46. The plunge wiped out two months of gains.

Among other companies, close competitors were the hardest hit. Finisar Corp.'s stock fell $1.46, or 9.5 percent, to close at $13.95. JDS Uniphase shares dropped 68 cents, or 5.8 percent, to $11.07.

Larger companies affected included Alcatel Lucent SA, down just short of 2 percent, ysl shoes and Ericsson, down 4.1 percent.

Earlier Thursday, Linthicum, Md.-based Ciena reported a wider loss than expected for its fiscal third quarter. The company also said it expects revenue yves saint laurent outlet of $455 million to $480 million for its fourth quarter, which was shy of the $500 million analysts expected.