New all-time lows are being posted by Oclaro (OCLR -23.5%) following its FQ3 miss and light FQ4...

|By:, SA News Editor
New all-time lows are being posted by Oclaro (OCLR -23.5%) following its FQ3 miss and light FQ4 guidance, which suggests the Opnext merger isn't going swimmingly. Some optical component/networking names are seeing moderate pressure in response: FNSR -2.9%. FN -2.2%. INFN -2.1%. JDSU -1%. Oclaro is guiding for FQ4 revenue $132M-$144M, well below a $159.5M consensus. The company, which ended FQ3 with $81M in cash and $64M in debt, also says  it has obtained a $25M credit line from Providence Equity. On the earnings call, Opnext blamed its woes on carrier spending, and insisted its performance is in-line with that of peers. (PR)