Adtran (ADTN -6.1%) plummets in afternoon trading after warning seasonality and weak telecom...
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last week after warning it expects Q3 revenue of $162M - though the current Q4 revenue consensus of $177.6M is likely outdated, investors clearly weren't counting on a drop below $150M.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.
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