U.S. Markets closed

Acacia Estimates Slashed; Who Else Could Be Hit?

As mentioned earlier, stocks of fiber-optic component makers were hit hard today after the U.S. Department of Commerce slapped a ban on sales of chips to Chinese telecom equipment provider ZTE, a very prominent customer for some U.S. firms such as Acacia Communications (ACIA). Acacia stock closed down $14.40, or 36%, at $25.63. Another one hit hard was Oclaro (OCLR), down 15%, and Lumentum (LITE), which is in the process of buying Oclaro, dropping 9%.