On July 7, Viavi Solutions fell 5.06% in regular trading, trading at $39.91 per share, with turnover of approximately $36.67 million.

On the news front, the communication equipment sector declined broadly, with Nokia down 5.4%, Lumentum down 5.07%, Applied Optoelectronics down 7.14%, and Cisco down 1.31%, dragging down individual names through sector-wide selling pressure. Meanwhile, the company previously announced a roughly $500 million common stock public offering, with net proceeds intended primarily to repay its $450 million Term Loan B facility. Equity dilution concerns continue to weigh on the stock.

On July 2, shares had plunged over 11% on the initial dilution reaction. Although the stock rebounded 5.38% the prior trading day amid a sector-wide recovery, the overhang from the offering has not been fully absorbed, and short-term selling pressure persists.

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