Seeking Alpha

Seeking Alpha Portfolio App for iPad

136 people get FN articles and Market Currents by email alert.

Get email alerts on FN »

FN

Fabrinet

5/21/2013, 11:09 AM ET

Quote & Headlines Market Currents StockTalk

All
| Earnings
| Dividends
| M&A
| On the move

Thursday, May 16, 10:49 AM Plenty of Cisco rivals and suppliers are now rallying in response to the company's FQ3 beat, guidance, and order activity: JDSU +5.2%. RKUS +5.8%. CAVM +4.8%. PKT +2.9%. ADTN +2.6%. ALLT +1.9%. FN +2%. FNSR +2.4%. BRCM +1.3%. MRVL +1.6%. (previous) Comment! [Tech, On the Move]
Wednesday, May 8, 10:49 AM 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) 2 Comments [Tech, Earnings, On the Move]
Tuesday, April 23, 7:56 PM Telecom equipment and optical component makers fall in AH trading in response to Juniper's revenue miss and light Q2 guidance, and (in what's arguably the bigger news) AT&T's $2B/year capex budget cuts for 2014 and 2015. CSCO -1.8% AH. CIEN -2.5%. RVBD -1.4%. JDSU -3.4%. FNSR -1.3%. TLAB -1.6%. Many of these companies had surged last November when AT&T set lofty 2014/2015 capex targets. Other names that could fall tomorrow: INFN. FN. OPLK. CALX. ADTN. 1 Comment [Tech, On the Move]
Wednesday, April 10, 11:04 AM Adtran's (ADTN +13%) Q1 beat is contributing to strong gains in telecom equipment, chip, and component stocks, as investors take it as another sign of improving telecom capex going into earnings season. Adtran's remarks about strong demand from both U..S. and international carriers can't be hurting. CSCO +2.5%. CIEN +6.4%. JDSU +4.6%. ALU +4.6%. FN +4.8%. FNSR +6%. PKT +4.2%. RKUS +4.2%. JNPR +3.9%. CAVM +3%. INFN +2.9%. OCLR +4%. SONS +2.5%. 2013 has seen a string of rallies (I, II, III) tied to capex hopes. Comment! [Tech, On the Move]
Tuesday, March 12, 5:00 PM Fabrinet (FN) announces a 3.8M shares secondary offering for certain shareholders. The company won't sell any shares in the offering, nor receive any of the proceeds. Morgan Stanley is the sole underwriter. Comment!
Tuesday, February 5, 10:49 AM Fabrinet (FN +6.7%) is rallying following its FQ2 beat, and is lifting both fellow contract manufacturers and the company's optical component industry clients along the way. SANM +3.2%. JBL +2.1%. FLEX +2.1%. BHE +4.5%. JDSU +2.3%. FNSR +4%. OCLR +1.9%. The gains come even though Fabrinet is guiding for FQ3 revenue of $147M-$151M and EPS of $0.29-$0.31, below a consensus of $161.7M and $0.37. Optical component stocks have been on a tear lately. Comment! [Tech, On the Move, Earnings]
Monday, February 4, 5:22 PM Fabrinet (FN): FQ2 EPS of $0.39 beats by $0.03. Revenue of $167.4M (+73.3% Y/Y). (PR) Comment! [Earnings, Breaking News, Consumer]
Wednesday, December 5, 2012, 4:35 PM More on Finisar: FQ3 guidance is for revenue of $230M-$245M and EPS of $0.14-$0.18, in-line with a consensus of $239.5M and $0.17 and better than feared in light of capex worries. The company says demand for its tunable transceivers, ROADM line cards, and optical switching components drove Q/Q growth. Gross margin was 30.5%, up 20 bps Q/Q. FNSR +5% AH. JDSU +0.7%. Needham's upgrade was well-timed. CC at 5PM ET (webcast). (PR) (slides - PDF) Comment! [Tech, On the Move, Earnings]
Tuesday, November 6, 2012, 2:04 PM Fabrinet (FN +31.2%) is having a memorable day after reporting FQ1 revenue of $158.6M (-15% Y/Y) and EPS of $0.36, soundly beating a consensus of $147M and $0.31. FQ2 guidance is for revenue of $159M-$163M and EPS of $0.35-$0.37, above a consensus of $154M and $0.33. The news is lifting some optical component names, due to Fabrinet's status as a top contract manufacturer for the industry. JDSU +2.5%. FNSR +3.2%. NPTN +4.1%. Comment! [Tech, On the Move, Earnings]
Tuesday, November 6, 2012, 12:45 PM Midday top 10 gainers: NVGN +89%. FN +25%. ENOC +19%. ROSG +19%. WTW +18%. CSC +17%. ODP +17%. JIVE +16%. AOL +16%. ACAD +15%. Midday top 10 Losers: THQI -48%. SREV -37%. SYPR -35%. MKTG -30%. VVUS -23%. CDE -22%. CBM -22%. Z -19%. MMYT -18%. ANTH -17%. Comment!
Monday, October 8, 2012, 10:47 AM Not surprisingly, optical component vendors JDS Uniphase (JDSU -4%), Finisar (FNSR -3.3%), and NeoPhotonics (NPTN -2.9%) are lower following Oclaro's (OCLR -7.6%) FQ1 warning. Fabrinet (FN -3.8%), which manufactures optical components for Oclaro and others, is also lower. Needham has responded by arguing Oclaro's problems probably aren't affecting other companies, and that Finisar will post in-line results. Comment! [Tech, On the Move]
Monday, August 20, 2012, 7:40 PM More on Fabrinet (FN): FQ4 beats on the bottom line but misses on its top line as net earnings plunged 55%. Per share earnings were pressured by lower revenue and higher expenses, but core profit beat expectations as the company returns to its feet following the Thailand floods by completing construction on a new manufacturing facility and winning new business. Shares +5.5% AH. Comment! [Tech, Earnings, On the Move]
Monday, August 20, 2012, 4:12 PM Fabrinet (FN): FQ4 EPS of $0.31 beats by $0.05. Revenue of $142.8M (-25% Y/Y) misses by $48M. (PR) Comment! [Earnings, Tech]
Friday, July 13, 2012, 10:19 AM Fifth & Pacific's (FN +1.5%) Kate Spade unit exercised an option to acquire the interest of its joint venture partner in Kate Spade Japan. The company says the price for the buyout will be $45M-$50M, including debt repayment. Comment! [Consumer, On the Move]
Monday, May 7, 2012, 4:47 PM More on Fabrinet's FQ3: The company is guiding for FQ4 revenue of $139M-$143M and EPS of $0.25-$0.27, below a consensus of $164M and $0.32. Fabrinet manufactures optical components for JDS Uniphase (JDSU), Oclaro (OCLR), Opnext (OPXT), and others. FN -10% AH. (PR) Comment! [Tech, Earnings, On the Move]
Monday, May 7, 2012, 4:35 PM Fabrinet (FN): FQ3 EPS of $0.28 beats by $0.04. Revenue of $139M (-29% Y/Y) in-line. Shares -10% AH. (PR) Comment! [Earnings, Tech, On the Move]