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Acacia, Oclaro Fall Off Cliff As U.S. Blocks Sales to China's ZTE

Shares of fiber-optic component makers are plunging today after The U.S. Department of Commerce decided to ban them from selling parts to China’s smartphone and telecom equipment maker ZTE (000063SH), traded on the Shanghai exchange. Stocks hit include Acacia Communications (ACIA), down $14.38, or 36%, at $25.65, Oclaro (OCLR), down $1.11, or 12%, at $8.31, which is in the process of being acquired by Lumentum (LITE), whose shares are down $3.92, or 6%, at $60.40. Viavi Solutions (VIAV) is one company that has business with ZTE, though only a small amount, according to William Blair analyst Dmitry Netis.