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Tellabs Shares Drop After Forecast Misses Estimates

TLAB  

Linked by Bloomberg ( track newsfeed | ignore newsfeed ) - February 01, 09:57AM from (www.bloomberg.com)

Tellabs Inc. (TLAB) fell to a 20-year low after forecasting first-quarter revenue that trailed analysts’ estimates and announcing a plan to discontinue its 9200 routing product and cut expenses.
Tellabs dropped 5.5 percent to $2.16 at 9:34 a.m. in New York, the lowest price since August 1993. The st...


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