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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of communications equipment maker Calix (Nasdaq: CALX ) fell as much as 10% in early trading after a Morgan Stanley analyst downgraded the stock to "underweight" from "equal weight."
So what: Calix wasn't the only stock to capture the attention of analyst Ehud Gelblum. He also cut price targets and estimates for Juniper Networks (Nasdaq: JNPR ) , Adtran (Nasdaq: ADTN ) , and Finisar (Nasdaq: FNSR ) , Barron's reports.
Now what: All four stocks could see trouble as a result of lower capital spending by large telecoms. AT&T (NYSE: T ) , in particular, is apparently cutting back in order to preserve capital needed for the fight to acquire T-Mobile. Do you believe Calix will underperform in the months ahead? Would you buy the company's shares at current prices? Let us know what you think using the comments box below.
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