Adtran (ADTN -6.1%) plummets in afternoon trading after warning seasonality and weak telecom...

|By:, SA News Editor

Adtran (ADTN -6.1%) plummets in afternoon trading after warning seasonality and weak telecom equipment capex "may lead to a 'teens' percentage point sequential decrease" in Q4 revenue. Adtran tumbled last week after warning it expects Q3 revenue of $162M - though the current Q4 revenue consensus of $177.6M is likely outdated, investors clearly weren't counting on a drop below $150M. Rival Calix (CALX -1.7%) is also lower.