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April 18, 2018, 10:02 a.m. EDT

ZTE pushes back earnings release after U.S. ban

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By Emily Bary

Chinese smartphone maker ZTE Corp. /zigman2/quotes/209674390/delayed CN:000063 +2.15% said that Wednesday it would delay its first-quarter earnings report after the U.S. Commerce Department banned American companies from selling components to ZTE earlier in the week. The U.S. issued the seven-year ban as a result of ZTE's failure to carry out an agreement reached in the wake of its prior violation of U.S. sanctions on Iran. ZTE has been fielding questions from components makers and carriers about how the ban will impact their businesses, according to Reuters . ZTE was due to report results Thursday. Shares of Acacia Communications Inc. /zigman2/quotes/204744719/composite ACIA -0.12% , which derived 30% of its revenue from ZTE last year, are down 36% this week, while shares of optical companies Finisar Corp. and Lumentum Holdings Inc. /zigman2/quotes/204419752/composite LITE -3.66% are also lower on the week. The S&P 500 /zigman2/quotes/210599714/realtime SPX -1.05% is up 2.1% so far this week.

/zigman2/quotes/209674390/delayed
CN : China: Shenzhen
¥ 45.55
+0.96 +2.15%
Volume: 119.11M
Feb. 21, 2020 3:00p
P/E Ratio
43.63
Dividend Yield
0.00%
Market Cap
¥191.00 billion
Rev. per Employee
¥1.21M
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/zigman2/quotes/204744719/composite
US : U.S.: Nasdaq
$ 68.69
-0.09 -0.12%
Volume: 211,773
Feb. 21, 2020 4:00p
P/E Ratio
89.32
Dividend Yield
N/A
Market Cap
$2.86 billion
Rev. per Employee
$880,547
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/zigman2/quotes/204419752/composite
US : U.S.: Nasdaq
$ 83.14
-3.16 -3.66%
Volume: 1.28M
Feb. 21, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$6.21 billion
Rev. per Employee
$453,140
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/zigman2/quotes/210599714/realtime
US : S&P US
3,337.75
-35.48 -1.05%
Volume: 2.12B
Feb. 21, 2020 5:16p
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