Alcatel-Lucent Plunges Most Since 2008 on Sales Concern
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Alcatel-Lucent SA, France’s largest telecommunications equipment maker, fell the most in almost three years in Paris trading as second-quarter sales missed estimates and amid concerns that the U.S. market is slowing.
Alcatel dropped 15 percent to 2.86 euros, the biggest decline since Oct 15, 2008. The drop followed a 21 percent stock plunge yesterday for U.S. competitor Juniper Networks Inc., which also missed analyst estimates for quarterly revenue and said it’s “cautious” about the second half of 2011.