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Infinera (INFN) Stock Plunges on Q3 Outlook, JPMorgan Downgrade

NEW YORK (TheStreet) -- Shares of Infinera (INFN) are falling 33.65% to $8.30 on heavy trading volume this morning after the company reported better-than-expected 2016 second quarter earnings yesterday after the closing bell but warned that demand for its products may be "softening."

Almost 10.5 million shares of the stock have traded so far today, vs. the average of 2.65 million per day.

The Sunnyvale, CA-based fiber-optic networking equipment company reported earnings of 21 cents per share yesterday, beating estimates of 18 cents. Non-GAAP revenue for the quarter was $259 million...