Tellabs, Inc., TLAB
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Tellabs Inc., a network equipment maker reported stronger-than-expected 2nd-quarter revenue and forecast 3rd-quarter revenue would likely be higher, but it gave a lower-than-expected margin outlook and said it was too early to predict an economic recovery.
Tellabs shares fell 1.4% on Monday afternoon to $5.69, as investors found few new reasons to buy the shares, which had already risen around 12 % over the past three months, given the company's cautious tone.
"Our business appears to be stabilizing," Chief Executive Rob Pullen said, but he added: "I believe it's probably too early right now to predict a recovery in the economy.” Customers can turn off and on their capex," or capital spending, he replied when asked why he was being so cautious.
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