US Stock Market Move | Optical communication concept stocks broadly declined; Nokia Oyj Sponsored ADR (NOK.US) fell over 9%.

On Thursday, optical communication concept stocks broadly declined. Nokia Oyj Sponsored ADR (NOK.US) fell over 9%, Applied Optoelectronics (AAOI.US) and Coherent (COHR.US) dropped more than 7%, Lumentum (LITE.US) fell nearly 7%, while Credo Technology (CRDO.US), Corning Inc (GLW.US), and Marvell Technology, Inc. (MRVL.US) declined over 5%, and POET Technologies (POET.US) dropped more than 2%. On the news front, on October 22, Nokia Oyj Sponsored ADR reported third-quarter results. Impacted by 357 million in restructuring and integration charges, reported operating profit fell 22% year-over-year to 196 million, with the reported operating margin declining from 5.4% to 3.8%. Diluted earnings per share came in at just 0.03, far below the market expectation of 0.10.