These 4 Stocks Have Investors Scrambling for the Exits Today

Shares of Ciena Corporation (NYSE:CIEN) are currently down by approximately 17% after the company announced a fiscal year 2015 fourth-quarter loss of $13.8 million. The fiber optics giant reported revenue of $692 million for the quarter, beating market expectations of $683.9 million. The company also posted a loss of $0.10 per share. When adjusted for amortization costs and stock option expense, earnings stood at $0.42 per share, above the Street’s estimate of $0.32 per share. What upset investors most was the company’s guidance for the current financial quarter: revenue between $555 million-to-$590 million, which is nowhere near analyst expectations of $636 million.

Ciena Corporation (NYSE:CIEN) also registered a boost in popularity among the hedge funds we follow, with 33 of them reporting a long position in the stock as of the end of September, up from 31 as of the end of June. Joel Greenblatt made a big play on this stock, increasing his holding by 780% during the quarter. Gotham Asset Management holds 1.55 million Ciena shares worth a little over $32.1 million. Israel Englander also stepped up his interest, boosting his stake to 1.89 million shares.

Jos. A. Bank sinks Men’s Wearhouse Inc (NYSE:MW) shares again, with them falling by under 20% today after the company reported a loss in its latest quarterly financial report, after having delivered a profit for the same period of last year. Third-quarter earnings stood at $0.50 a share, when adjusted for one-time costs, which was in-line with Wall Street’s expectations. The Houston-based company also registered revenue of $865.4 million, below the consensus estimate of $877 million. The company’s weak link continues to be Jos. A. Bank, as same-store sales for that brand plunged by 35% year-over-year during the latest quarter, compared to a 5.5% growth for other brands. Men’s Wearhouse said it is now looking for opportunities for cost reduction, including labor and advertising expenses.

Roughly 38% of Men’s Wearhouse Inc (NYSE:MW)’s common stock was held by 39 top funds at the end of the third quarter, up from 33 at the end of June. Ricky Sandler is betting big on this stock, having increased his investment by 25% during the quarter. His fund, Eminence Capital, reported ownership of 3.98 million shares valued at $169 million. Stephen V. Raneri‘s LionEye Capital Management was also buying MW shares during the quarter, taking its position to 2.51 million shares worth $106 million.

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