Optical Names Follow Ciena Lower As North American Equipment Spending Slows

Shares of companies in the optical component sector, including Finisar (FNSR) and Oclaro (OCLR), are following Ciena (CIEN) lower on Thursday. Ciena offered up a gloomy view of the fourth quarter earlier today, despite reporting better than expected fiscal third-quarter earnings and revenue. The declines are especially notable as the broader tech sector is rallying hard going into the holiday weekend. Ciena, a global supplier of telecommunications networking equipment, operates in four segments: Converged Packet Optical, Packet Networking, Optical Transport, and Software & Services.

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