NEW YORK ( TheStreet) -- Shares of Juniper Networks ( JNPR) fell in late trades on Monday after the communications networking equipment maker lowered its fourth-quarter outlook, citing weak demand from service providers. Juniper now sees non-GAAP earnings of 26 to 28 cents a share in the quarter on revenue ranging from $1.11 billion to $1.12 billion. On Oct. 24, the company forecast non-GAAP earnings of 32 to 36 cents a share for the period on revenue of between $1.16 billion to $1.22 billion. The current average estimate of analysts polled by Thomson Reuters is for a profit of 34 cents a share in the December-ended period on revenue of $1.19 billion. Juniper said the router demand weakness wasn't limited to a single geography but added that a "significant portion" of the impact was from U.S. service providers. The company, which plans to report its full results on Jan. 26, also now sees non-GAAP operating gross margin coming in below its prior projection of 21% to 23% because of lower revenue view. The stock was last quoted at $21.01, down 2.4%, on after-hours volume of 1.2 million, according to Nasdaq.com. The shares ran as low as $18.55 earlier in the extended session. Based on Monday's regular session finish at $21.53, Juniper shares had already lost more than 45% in the past year, although that reflects a bounce of nearly 30% off a 52-week low of $16.67 set back in early October. Wall Street was split on the stock ahead of the warning with 21 of the 39 analysts covering Juniper at either hold (19), underperform (1) or sell (1). The median 12-month price target of $25 reflects some underlying optimism however. At current levels, the stock is trading at a forward price-to-earnings multiple of 15X.
For fiscal 2012, Liz Claiborne now sees adjusted EBITDA of $125 million to $140 million vs. a prior projection of $130 million to $150 million. Liz Claiborne said Warren is leaving on March 16 to pursue an opportunity in the media industry, and the company has initiated a search for a replacement. Liz Claiborne also said it expects its name change to Fifth & Pacific Cos. to take place around mid-May. The stock was last quoted at $8.70, down 12.4%, on volume of nearly 715,000. Other stocks active in late trades included Alcoa ( AA), which ticked up after the Dow component posted an in-line loss for its fiscal fourth quarter; Cirrus Logic ( CRUS), which rose more than 6% to $18.10 on volume of more than 110,000 after the company forecast revenue of $122 million for its fiscal third quarter, ahead of a prior projection of $102 million to $108 million; and SMSC ( SMSC), which fell nearly 7% to $23.35 on volume of nearly 40,000 after the company fell short of consensus with its third-quarter results and said it could lose up to 21 cents a share in the fourth quarter. -- Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: email@example.com