The stock market is down Wednesday, with the Dow Jones Industrial Average down 1.68%, the Nasdaq down 1.80% and the S&P 500 down 1.72%. Despite this, trading volume was light, with only one winner and one loser with high trading volume and a significant drop. Today’s winner will benefit from the world’s largest telecommunications firm building out its network, while today’s loser reported very weak earnings.
This is Wednesday’s market winner and loser.
Shares of Ciena Corp. (NASDAQ: CIEN) are up 9.43% to $14.42 on trading volume of 3.7 million shares. The company’s shares jumped following an announcement by AT&T, Inc. (NYSE: T) that it would spend $14 billion to upgrade its network. The 52-week high is $18.39.
Shares of James River Coal Co. (NASDAQ: JRCC) are down 19.57% to $3.78 on trading volume of 5.1 million shares. The company reported a third-quarter loss of $1.23 a share, worse than the $1.04 a share Wall St. analysts expected. The 52-week low is $1.68