Calix Inc (CALX)

Calix, Inc Stock (CALX) dropped by 18.27% from $42.58 to $34.80 in the trading on Tuesday October 24, 2023. The reason why CALX stock down today nclude

• Disappointing Q4 guidance: Calix published its Q3 results with sales and earnings that came in ahead of the market's expectations. However, it appears that the market was disappointed with the company's guidance. For the fourth quarter, Calix is guiding for adjusted earnings per share of between $0.33 and $0.39 on revenue of $261 million to $267 million, the midpoint of its forecast sales range fell short of Wall Street's consensus expectation.
• Announcement from competitor: Harmonic announced its new high-density optical line terminal for its virtualized cOS broadband platform. With competition intensifying in the high-performance broadband virtualization and software services space, investors may anticipate a less promising growth outlook for Calix.