a maker of fiber-optic products, was down 22.5% in preopen
trading. After Tuesday's close, the company said third-quarter earnings would be 2 cents to 3 cents, below the
First Call/Thomson Financial
estimate of 6 cents.
The company also lowered its full-year earnings forecast to the 15- to 16-cent range. The Street's current estimate is 25 cents. Avanex said domestic orders have slowed.