Oplink (OPLK +16.4%) soars after soundly beating FQ4 EPS estimates thanks to a 370 bps Q/Q increase in gross margin, and providing better-than-feared guidance. While Oplink's FQ1 revenue guidance range of $43M-$46M is below a $46.2M consensus, EPS guidance of $0.16-$0.22 is in-line with a $0.19 consensus. Optical component rival JDS Uniphase (JDSU +0.7%) rallied on Wednesday after posting earnings. Up in sympathy: FNSR +3.6%. NPTN +6%.