Tellabs Down on Warning, Analyst Action

By TSC Staff ,

Tellabs (TLAB) was down 17.5% in preopen Island trading.

After the close, the communications equipment maker warned it would post a second-quarter loss of 45 cents a share, vs. analysts' estimates of break-even results.

Lehman Brothers

this morning slashed its 2001 EPS estimates on Tellabs to 45 cents from $1.55, and cut its price target to $30 from $50.

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