Networkers Fall After Terayon Warns
Shares of several networking companies lost ground today, as a member of the extended family,
Terayon Communication Systems
(TERN)
, said fourth-quarter revenue and earnings would fall
well short of analysts' estimates because of an unexpected slowdown and canceled orders.
Shares of Terayon, which provides broadband networking systems primarily to cable companies, recently plunged $8, or 59.8%, to $5.38.
Cisco
(CSCO) - Get Cisco Systems, Inc. Report
lost $5.25, or 10.9%, to $43. Shares of
Avici Systems
(AVCI)
recently traded at $28.25, down 10.2%, or $3.19.
Avanex
(AVNX)
lost $8, or 10.6%, to $67.31, while
Sycamore Networks
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(SCMR)
fell $4.69, or 8.5%, to $50.50.
Ciena
(CIEN) - Get Ciena Corporation Report
lost $7.94, or 7.9%, to $93, and
Corvis
(CORV) - Get Correvio Pharma Corp. Report
traded down $5, or 15.3%, to $27.88.
Extreme Networks
(EXTR) - Get Extreme Networks, Inc. Report
fell $16.50, or 22.8%, to $56.
Juniper Networks
(JNPR) - Get Juniper Networks, Inc. Report
held up comparatively well, losing $2.13, or 1.8%, to $127. The same couldn't be said for
Redback Networks
(RBAK)
, which followed the majority of the sector and lost $10.13, or 12.2%, to $73.
