US Stock Market Move | Initial decline in the stock price of Photonics Communications, Ciena (CIEN.US) fell by nearly 21% after the earnings report.

On Thursday, the stock of Ciena Corp fell at the opening, with Ciena (CIEN.US) dropping nearly 21% after earnings, POET Technologies (POET.US) down nearly 10%, Corning Inc (GLW.US) falling over 7%, Lumentum (LITE.US) dropping close to 7%, Marvell Technology, Inc. (MRVL.US), Nokia Oyj Sponsored ADR (NOK.US) falling over 6%. On the news front, Ciena reported second quarter revenue of $1.57 billion, a year-on-year increase of 40%; adjusted EPS was $1.64, a year-on-year increase of 290%. Analysts pointed out that Ciena's third quarter revenue guidance is in the range of $1.575 billion to $1.675 billion, with the median below the market's heightened expectations, suggesting that the full-year guidance of $6.3 billion did not bring any major surprises.