Shares in France’s Alcatel-Lucent drop 4 percent after rival network equipment maker Finisar Corp falls short of expectations in its fourth-quarter outlook and third-quarter results.
“The obvious culprit will be Finisar that guided a little light and fell 11 percent in after-hours action, with repercussions for Ciena, JDS Uniphase and Alcatel,” Alexander Peterc, analyst at Exane BNP Paribas, says.
Finisar posts third-quarter net profit of $8.9 million, compared with $18.8 million a year ago, and forecasts fourth-quarter results below estimates.
Despite Thursday’s drop, shares in Alcatel are still up 50 percent in 2012, valuing the company at a little more than 4 billion euros ($5.35 billion).
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