Adtran plunges on soft Q4 guidance; peers also selling off

|By:, SA News Editor

Adtran (ADTN -13.3%) guides on its Q3 CC for Q4 revenue to drop by a high single-digit to low-teen percentage Q/Q; that's worse than a consensus for a 7% decline.

Shares have nosedived on the guidance after trading higher earlier today in response to the telecom equipment vendor's Q3 beat.

Several other telecom equipment firms are also seeing sizable declines on a down day for tech, as are some component/chip suppliers. CIEN -4.3%. JDSU -3.9%. FNSR -4.5%. JNPR -2.8%. AMCC -3.8%. DRWI -4.7%. RVBD -3.3%.