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Ciena -2.4% as Rosenblatt sees U.S. sales decline

Jul. 18, 2018 12:11 PM ETCiena Corporation (CIEN) StockCIENBy: Jason Aycock, SA News Editor1 Comment
  • Ciena (NASDAQ:CIEN) is 2.4% lower after Rosenblatt's warning that it could face U.S. sales drops from big customers.
  • The company may sell less to its biggest customer, AT&T, in its Q4, the firm says, and sales to Comcast could weaken as well. Gross margins could take a hit amid pricing concessions to Verizon and amid strong spending with customers like Facebook and Amazon.com. (h/t Bloomberg)
  • Rosenblatt cut its rating to Neutral from Buy and lowered its price target to $27 from $29; shares are currently at $26.31.

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