Tellabs rises as much as 7.7% after sales forecast
Tellabs Inc. rose as much as 7.7 percent in early trading after its second-quarter sales forecast exceeded analysts' projections.
Revenue will climb at least 10 percent from the previous quarter, Tellabs said today in a statement. That amounts to about $418 million, beating the $386.5 million average of estimates compiled by Bloomberg.
Tellabs, based in Naperville, rose as high as $8.85 after closing at $8.22 yesterday on the Nasdaq Stock Market.
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