Ciena Falls After Forecasting Lower First-Quarter Revenue
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Ciena Corp., a maker of network equipment for phone companies, fell the most in more than three months after saying first-quarter sales were lower than its forecast because of delays in recording international revenue.
The shares declined 8.4 percent to $15.58 at the close in New York, for the steepest decline since Oct. 25. They’ve gained 29 percent this year.