On June 5, Viavi Solutions fell 5.28% in regular trading, trading at $51.685/share, with trading volume of $27.37 million.
On the news front, the company previously announced a planned approximately $500 million common stock public underwritten offering, granting underwriters a 30-day overallotment option to purchase up to 15% additional shares. Net proceeds are primarily intended to repay $450 million in Term Loan B debt. Market concerns over large-scale equity dilution continue to weigh on the stock.
Meanwhile, the Communication Equipment sector saw broad-based weakness on the day. Nokia fell 8.0%, Ciena dropped 5.66%, Cisco declined 3.66%, Lumentum lost 1.3%, and Applied Optoelectronics slid 1.27%, with sector-wide selling pressure compounding the downward momentum on Viavi shares.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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