CommScope Plunges 31.2% as it Cuts Guidance
Telecommunications equipmentmaker
CommScope
(CTV) - Get Innovid Corp. Report
fell 31.2% in early trading as it announced a reduction in its 2001 sales and earnings growth forecasts to the midteens from 20%. The company said it was concerned that orders, including those from
Scroll to Continue
TheStreet Recommends
AT&T
, were below expectations in the fourth quarter.
CommScope added that it is concerned about order rates and customer financing, but it is not cutting its fourth-quarter earnings estimate. The company is the second in the sector Friday to warn due in part to order difficulties with AT&T.
