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Thursday, Jul 11
Telecom equipment, chip, and component makers finish up strongly after Needham upgrades Finisar...
Telecom equipment, chip, and component makers finish up strongly after Needham upgrades Finisar (FNSR +6%), Goldman upgrades Alcatel-Lucent (ALU +6.3%) and Adtran (ADTN +2.3%), and William Blair reports of positive F5 checks. Ciena (CIEN +10.1%), Riverbed (RVBD +4%), Calix (CALX +6.9%), Aruba (ARUN +5%), and JDS Uniphase (JDSU +3.6%), are among the top gainers. Needham says meetings with Finisar's chairman and CEO leave it impressed with the company's positioning and visibility. "Finisar seems more confident in its outlook than it’s been in a number of years." Goldman responds to Adtran's strong top-line results and guidance by declaring it "uniquely positioned to benefit" from a multi-year cable/DSL broadband infrastructure upgrade cycle. (previous)