U.S. optical communications stocks opened sharply lower, according to data from MSX.COM. Corning fell more than 9% in early trading, while Marvell Technology, Lumentum, and Coherent each dropped more than 8%. Credo and Ciena were also under pressure, both down more than 6%.
At the same time, software names moved the other way at the open. ServiceNow rose more than 5%, Adobe gained nearly 4%, Salesforce climbed nearly 3%, and Microsoft posted a modest advance. The move left optical communications shares broadly weaker in early trading even as parts of the software sector traded higher.
U.S. optical communications stocks opened sharply lower, according to MSX.COM data.
Corning fell more than 9% in early trading. Marvell Technology, Lumentum, and Coherent each dropped more than 8%, while Credo and Ciena were down more than 6%.
Software stocks moved higher at the open. ServiceNow gained more than 5%, Adobe rose nearly 4%, Salesforce added nearly 3%, and Microsoft edged up.
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