This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Warning Slams Ikanos

Manufacturing problems and weakness in the overall communications market drove Ikanos Communications (IKAN) to cut its sales outlook after the bell Wednesday.

The announcement sent the stock plunging. In premarket trading Thursday, Ikanos was sinking 29% to $7.80, putting it beneath its 52-week closing low of $9.

The Fremont, Calif., maker of broadband-network-equipment chips warned investors that revenue in the quarter ended Sept. 30 will likely range between $36 million and $37 million, instead of the $40 million to $43 million outlook it provided in July.

The company also delivered a revenue outlook for the fourth quarter underway that fell well below the Street's consensus, pegging sales between $24 million and $26 million.

Analysts polled by Thomson Financial were expecting Ikanos to generate $43.3 million in fourth-quarter revenue.

"Looking ahead to our fourth quarter, we believe that revenue will be affected due to the general weakness in the overall communications sector and some deployment delays," said CEO Rajesh Vashist in a press release.

"Additionally, carriers in Japan are currently working through their existing equipment levels, thus impacting our fourth-quarter revenue. We believe this will largely be resolved by the end of the year," Vashist said.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
IKAN $2.74 0.00%
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs