Infinera (INFN) Stumbles on Q1 Earnings

Infinera Corp.

shares fell 24% to $11.83. Infinera reported Q1 adjusted earnings of $0.19 per share on sales of $245 million. Citigroup downgraded Infinera from buy to neutral and lowered the price target from $20.00 to $17.00. Share volume was 11.1 million, nearly five times its an all-day average