JDS Uniphase Breathes Some Life Into Optical Networking Shares (JDSU, GLW, FNSR, OPLK, INFN, NPTN)
Shares of JDS Uniphase (JDSU) are surging 10% after the company reported fiscal third-quarter results that topped Wall Street estimates and raised its fourth-quarter revenue guidance as telecom companies are looking to boost spending on the high-end laser products used to efficiently move data traffic, one of the products California-based JDS Uniphase produces.
The company forecast fourth-quarter revenue of $455-$475 million while analysts were expecting revenue of $469.8 million, an outlook that appears to be helping the Optical Networking Stocks Index to a gain of 2.9%.
Analysts didn’t seem too impressed with the guidance from JDS Uniphase. RBC Capital merely reiterated a “sector perform” rating on the stock, saying it’s too early to jump on the optical bandwagon, while Stifel Nicolaus said the company could gain market share.
Corning (GLW) is the only Index member that is lower today after “Mad Money” host Jim Cramer said “Corning is too inconsistent. I’m a seller of Corning. We have a lot of better stocks to choose from.” Shares of Corning are just fractionally lower.
Investors can track the Optical Networking Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
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