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FNSR

Finisar Corporation

5/20/2013, 9:08 AM ET

Quote & Headlines Market Currents StockTalk

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| 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]
Monday, May 13, 1:36 AM Plenty of companies are taking aim at Cisco's (CSCO) Nexus data center switch business. 1) H-P (HPQ) has updated its networking lineup to include a "virtual router" running on commodity hardware, to offload tasks handled by server virtualization software (Cisco also supports this), and to embrace software-defined networking. 2) Startup Arista has launched a high-density switch that (aided by FNSR optics) can handle 96 100G or 1152 10G ports in an 8-slot chassis. 3) Huawei has launched 16-slot switches that can handle 192 10G ports, and can be clustered. 4) Facebook's Open Compute Project is now working on a data center switch meant to handle virtually any software. Cisco is hoping to return fire via its Insieme unit (I, II). Comment! [Tech]
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]
Thursday, April 25, 10:17 AM A Q1 beat and strong 2013 guidance lead Infinera (INFN +22.8%) to surge to 52-week highs. Industry peers are up in sympathy, a day after many declined thanks to AT&T: CIEN +3%. FNSR +2.8%. JDSU +1.5%. ADTN +2.2%. CALX +1.5%. On its earnings call, Infinera guided for Q2 revenue of $130M-$140M and EPS of -$0.04 to $0.01, above a consensus of $124.3M and -$0.05. Gross margin (an issue going in) is expected to rise to 37%-39% from Q1's 36%. 2013 revenue growth is now pegged at the the high end of a guidance range of 10%-20% (consensus is 17%). Purchase commitments for the advanced DTN-X optical transmission system grew by 6 to 27. Needham has upgraded shares to Buy. Comment! [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]
Thursday, April 11, 9:43 AM In addition to announcing it's acquiring CyOptics, Avago (AVGO -0.3%) is creating a 20M-share buyback authorization (good for repurchasing 8% of shares) to replace a 15M-share authorization that just expired. CyOptics, which had 2012 sales of $210M and relies on an advanced material known as indium phosphide, lowers Avago's dependence on its wireless chip business (over half of sales), and makes the company a tougher optical component rival to JDS Uniphase (JDSU) and Finisar (FNSR). Avago asserts CyOptics' products strengthen its hand in the 40G/100G space, an area Cisco and Intel are also interested in. Comment! [Tech, M&A]
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]
Friday, April 5, 9:51 AM The bloodletting in enterprise IT and telecom equipment names that followed F5's March quarter warning yesterday afternoon has spread, with some telecom component/chip names now among the companies getting hit hard. This morning's weak NFP report certainly isn't helping matters. JDSU -5%. CVLT -6.1%. EZCH -4.5%. INFA -3.9%. QLIK -3.9%. MLNX -3.6%. CAVM -8.5%. RKUS -5%. FTNT -3.9%. FNSR -6%. Comment! [Tech, On the Move]
Thursday, April 4, 10:18 AM Finisar (FNSR +7.2%) soars on an upgrade to Buy from Lazard. The firm is setting a $17 PT, and declares the optical component vendor's risk/reward attractive at current levels. Shares have had a rough year, thanks in part to silicon photonics concerns and an underwhelming FQ3 report. Comment! [Tech, On the Move]
Thursday, March 21, 2:14 PM Telecom equipment/optical component names underperform following FBR's Cisco/Juniper downgrades, as investors mull the impact of lower demand for switches/routers among service providers and enterprises on demand for complementary hardware and the parts that go into it. Given software-defined networking (the main reason for FBR's downgrade) will have a limited impact on hardware use on many carrier networks, is the Street overreacting? JDSU -4.2%. FNSR -3.3%. CIEN -3.8%. ADTN -3.1%. ALU -2.7%. ADTN -3.1%. SONS -4.7%. INFN -2.6%. FFIV -2.3%. Comment! [Tech, On the Move]
Monday, March 18, 2:31 PM JDS Uniphase (JDSU -1.4%) and Oclaro (OCLR -1.7%) are off modestly after Cisco (CSCO) announces a 100G silicon optical transceiver it claims offers a 70%+ cut in space/power needs relative to traditional solutions. A 100G line card for a Cisco optical transmission/switching system will be the first product to use one, but the networking giant promises "future routing and switching line cards" will also rely on them. JDS, Oclaro, and Finisar (FNSR +0.1%) have all been pressured by concerns over the adoption of silicon photonics tech, but opinions vary about the near-term impact. Comment! [Tech]
Thursday, March 14, 10:05 AM Telecom equipment and component makers trade higher after China Mobile (the world's largest carrier) forecasts a 49% Y/Y increase in capex in 2013 to a hefty RMB190.2B ($30.6B). Vodafone and France Telecom's plans to build a fiber network in recession-hit Spain might not be hurting either. FNSR +6.6%. ALU +2.9%. JNPR +2%. OCLR +4.8%. CIEN +1.5%. JDSU +1.5%. ALLT +3.3%. ERIC +1.2%. 1 Comment [Tech, On the Move]
Friday, March 8, 1:21 PM Mixed FQ3 results and ho-hum guidance spark a selloff in Finisar (FNSR -5.7%) - hopes of improving capex had raised expectations. Finisar is guiding for FQ4 revenue of $235M-$250M and EPS of $0.15-$0.19, in-line with a consensus of $241M and $0.17. Raymond James (Neutral) is encouraged management's hopes for 10%+ growth in CY13 and FY14, but is worried Finisar's telecom ops face "price pressure, wage pressure, and vertical integration" headwinds. On the earnings call, chairman Jerry Rawls insisted silicon photonics aren't at threat, while adding Finisar will "maybe" embrace the technology. Comment! [Tech, Earnings, On the Move]
Thursday, March 7, 4:20 PM Finisar (FNSR): FQ3 EPS of $0.17 beats by $0.01. Revenue of $238.4M misses by $0.46M. Shares +2.3% AH. (PR) Comment! [Earnings, Breaking News, Tech, On the Move]
Thursday, March 7, 10:11 AM It's rally time for telecom equipment and optical component makers, as the Street sees positive implications in Ciena's FQ1 beat and respectable FQ2 guidance for service provider capex. JDSU +6.2%. JNPR +4%. FNSR +4.5%. INFN +5.1%. ADTN +2.5%. RVBD +1.7%. FFIV +2.3%. CALX +2.1%. OCLR +5.7%. OPLK +2.7%. EXFO +4.5%. Comment! [Tech, On the Move]
Thursday, March 7, 9:10 AM Premarket gainers: HIMX +36%. NQ +17%. CIEN +15%. MTSL +12%. FNSR +9%. HZNP +8%. EDAP +8%. WFR +7%. DANG +6%. INFN +6%. JDSU +6%. INVE +6%. MLNX +5%.
Losers: JRCC -14%. AV -11%. SCTY -8%. PETM -8%. DRYS -7%. NBG -5%. Comment! [On the Move]

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