Juniper Plunges on Warning

By TSC Staff ,

Network equipment maker Juniper Networks (JNPR) - Get Report was down 11.2% in preopen Island trading after it warned that second-quarter revenue would come in around $200 million to $210 million instead of the previously expected $300 million to $330 million.

The company said it now expects pro forma earnings of 8 cents a share for the quarter. The current

Thompson Financial/First Call

estimate is 24 cents.

Juniper also said it is cutting its staff by about 8% and taking a one-time charge of $45 million. The charge includes the cost of reevaluating its investment portfolio.

Other networkers were lower as well.

Cisco

(CSCO) - Get Report

was down 2.8%.

Sycamore

(SCMR)

was down 2%.

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