Hot Stocks: INTU, CIEN warn; ANET rallies on earnings; MNST merger talks
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A couple of revenue warnings marred Tuesday's pre-market action. Intuit (NASDAQ:INTU) and Ciena (NYSE:CIEN) slashed their top-line forecasts for the current quarter, sending both stocks lower before the opening bell.
Meanwhile, the release of quarterly results gave a lift to shares of Arista Networks (NYSE:ANET). The stock rallied on better-than-expected results and a strong forecast.
Monster Beverage (NASDAQ:MNST) represented another pre-market winner. Reports of merger talks with Constellation Brands (NYSE:STZ) sent the stock higher in pre-market action.
Decliners
Intuit (INTU) dipped about 1% in pre-market trading after lowering its Q2 revenue forecast. Blaming a slower-than-expected tax season, the company predicted a top-line figure of $2.66B-$2.67B. Previously, the company had forecast a revenue number between $2.72B and $2.75B. 
Ciena (CIEN) also slipped in the wake of lowered guidance. The company said it now expects revenue in the range of $840M to $850M for the current quarter. Previously, the company had projected a figure between $870M and $910M. Analysts were looking for a number close to $895M.
CIEN attributed the disappointing figures to supply chain disruptions, which prevented it from fulfilling the "unprecedented level of demand" for its products. On the lowered guidance, shares retreated nearly 2% before the opening bell.
Gainers
The release of earnings news sparked a 10% pre-market rally in shares of Arista Networks (ANET). The company's quarterly profit sailed by expectations, helped by 27% revenue growth. 
ANET also gave an upbeat forecast for the current quarter. The firm projected revenue between $840M and $860M. Analysts were looking for a figure of around $837M.
Monster Beverage (MNST) advanced in pre-market action on reports of merger talks. According to Bloomberg, the energy drink maker has been in discussions with Constellation Brands (STZ). MNST rose nearly 3% on the news.

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