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Stock Market & Financial Investment News

News Breaks
June 13, 2014
11:31 EDTOCLR, JNPR, OPLK, CIEN, FNSRFinisar plummets after profit, gross margin outlook trail estimates
Shares of Finisar (FNSR), which provides optical subsystems and components for telecommunication applications, are sinking after the company’s first quarter profit and gross margin outlook trailed analysts’ consensus estimates. WHAT'S NEW: Last night, Finisar reported fourth quarter earnings per share of 36c and revenue of $306M, compared to the consensus views of 38c and $303.2M, respectively. The company said Q4 adjusted gross margins decreased to 34.2% from 37.2%. Finisar attributed the decline in Q4 adjusted gross margin primarily to the impact of the full three months of the annual price reductions for telecom products, as well as the impact of the u2t acquisition whose products carry a lower gross margin than the corporate average. WHAT’S NOTABLE: Finisar forecast Q1 EPS of 30c-34c, far short of the consensus of 41c. Q1 revenue was seen at $320M-$335M, versus consensus of $316.96M. The company expects its gross margin issue to last beyond the current quarter. It attributes the reduction in gross margin to the product mix with lower margin wireless products, noting that it sold "a lot more" wireless transceivers for wireless applications than originally expected. Finisar noted that the wireless products have lower than average gross margins and that it will continue to pursue the "wireless opportunity" in spite of lower margins. Finisar sees its product mix in the near term to be relatively similar to what it is seeing in this quarter. ANALYST REACTION: This morning, analyst commentary was mixed. Research firms Piper Jaffray and Raymond James both said weakness in Finisar was a buying opportunity, however each lowered their respective price targets on the shares. Another firm, Craig-Hallum, downgraded Finisar to Hold from Buy. PRICE ACTION: In late morning trading, Finisar fell $5.46, or about 21.5%, to $19.80 on nearly eight times its average daily trading volume. Despite today’s pull back, the stock has gained approximately 35% over the past twelve months. OTHERS TO WATCH: Other companies that provide telecommunication components include Oplink Communications (OPLK), Oclaro (OCLR), Ciena (CIEN), and Juniper Networks (JNPR).
News For FNSR;OPLK;OCLR;CIEN;JNPR From The Last 14 Days
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April 27, 2015
06:50 EDTOCLROclaro upgraded to Buy from Hold at Needham
April 24, 2015
12:49 EDTJNPROn The Fly: Top stock stories at midday
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11:40 EDTJNPRJuniper soars to new 52-week high after preliminary Q1 results beat expectations
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10:11 EDTJNPRHigh option volume stocks
High option volume stocks: AERI UEC NUAN DSW CHU SVU PII ACTG GIMO JNPR
10:00 EDTJNPROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Outperform from Neutral at Macquarie... Alaska Air (ALK) upgraded to Buy from Neutral at Buckingham... Amazon.com (AMZN) upgraded at Raymond James... American Electric (AEP) upgraded to Buy from Hold at Deutsche Bank... Broadridge (BR) upgraded to Buy from Hold at Evercore ISI... Cablevision (CVC) upgraded to Hold from Sell at Brean Capital... Cisco (CSCO) upgraded to Conviction Buy from Buy at Goldman... Core Laboratories (CLB) upgraded to Outperform from Sector Perform at Iberia... Crown Castle (CCI) upgraded to Outperform from Market Perform at Raymond James... Encore Wire (WIRE) upgraded to Buy from Neutral at Sidoti... Gigamon (GIMO) upgraded to Buy from Neutral at DA Davidson... Juniper (JNPR) upgraded on improved outlook at RBC Capital... KPN (KKPNY) upgraded to Buy from Neutral at Goldman... Knight Transportation (KNX) upgraded to Outperform from Market Perform at Avondale... Mattel (MAT) upgraded to Buy from Neutral at Goldman... Microsoft (MSFT) upgraded to Buy from Neutral at Nomura... Premiere Global (PGI) upgraded to Outperform from Market Perform at Raymond James... Quintiles (Q) upgraded to Buy from Hold at Jefferies... Southwestern Energy (SWN) upgraded to Market Perform at Raymond James... TE Connectivity (TEL) upgraded on positive catalysts at SunTrust... Target (TGT) upgraded to Buy from Neutral at BofA/Merrill... TriState Capital (TSC) upgraded to Overweight from Equal Weight at Stephens... United Continental (UAL) upgraded to Buy from Hold at Evercore ISI... Vipshop (VIPS) upgraded to Buy from Hold at HSBC... Vocera (VCRA) upgraded to Buy from Hold at Craig-Hallum.
09:46 EDTJNPRJuniper breaks out after stronger earnings
Shares hit a fresh 52-week high at $26.09 and have settled back fractionally to $25.80. Resistance above the high of the day is at $26.88 which was a previous pivot high. Support is at $25.43.
09:20 EDTJNPROn The Fly: Pre-market Movers
UP AFTER EARNINGS: eHealth (EHTH), up 24.7%... Starbucks (SBUX), up 4.2%... Microsoft (MSFT), up 5.2%... Google (GOOG, GOOGL), up 3.2% and up 3.7%, respectively... Amazon (AMZN), up 12% after reporting quarterly results and announcing shopping app for Apple Watch... Gigamon (GIMO), up 16.5%... Juniper Networks (JNPR), up 6.6%. ALSO HIGHER: Molycorp (MCP), up 10.2% following a Bloomberg report that China's export tax decision may boost rare earth demand... Mattel (MAT), up 4.4% after being upgraded to Buy from Neutral at Goldman... Innocoll (INNL), up 13.1% after 3.3M share Secondary priced at $9.00... Cytosorbents (CTSO), up 9.7% after CEO comments on CytoSorb in letter to shareholders. DOWN AFTER EARNINGS: Biogen (BIIB), down 4.7%... Altera (ALTR), down 1.7%... Pandora (P), down 4%... ResMed (RMD), down 8.7%... Xerox (XRX), down 4.7%... HomeAway (AWAY), down 3.6% after reporting quarterly results and departure of officers. ALSO LOWER: Ubiquiti (UBNT), down 14.4% following CFO resignation and preliminary third quarter results... 3D Systems (DDD), down 10.4% after reporting preliminary first quarter results... StemCells (STEM), down 23.2% after filing to sell common stock... Aerie Pharmaceuticals (AERI), down 54.7% after Rhopressa Phase 3 trial did not meet primary endpoint.
08:59 EDTJNPRJuniper price target raised to $31-$33 from $27-$29 at Wells Fargo
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07:29 EDTJNPRJuniper upgraded on improved outlook at RBC Capital
As noted earlier, RBC Capital upgraded Juniper to Outperform from Sector Perform. The firm believes that the period of negative earnings revisions is behind the company, while its revenue is stabilizing and there are early signs of improving telecom spending. It adds that it expects routing switching and security to begin contributing to the company's growth in 2016. Target $29.
06:27 EDTJNPRJuniper upgraded to Outperform from Sector Perform at RBC Capital
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April 23, 2015
19:16 EDTJNPROn The Fly: After Hours Movers
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16:21 EDTJNPRJuniper expects to return to higher revenue in 2H15
The company continues to see the long-term demand drivers as healthy and is confident in its innovation pipeline. Juniper expects to return to its historical pattern of higher revenue in the second half of 2015 versus the first half of the year.
16:21 EDTJNPRJuniper sees Q2 adjusted EPS 38c-42c, consensus 38c
Sees Q2 revenue $1.09B-$1.12B, consensus $1.09B. Q2 non-GAAP gross margin will be approximately 64%, plus or minus 0.5%. Non-GAAP operating expenses will be $475M, plus or minus $5M.
16:19 EDTJNPRJuniper reports preliminary Q1 adjusted EPS 32c, consensus 31c
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15:00 EDTJNPRJuniper April weekly 24 straddle priced for 5.5% movement into Q1
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April 21, 2015
12:54 EDTJNPRJuniper April weekly volatility elevated into Q1 and outlook
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10:20 EDTCIEN, JNPRWells thinks carrier equipment vendors factored in weak capex
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April 16, 2015
11:22 EDTJNPRJuniper April weekly volatility elevated into Q1 and outlook
Juniper April weekly call option implied volatility is at 49, May is at 35, July is at 25, October is at 24; compared to its 26-week average of 28 according to Track Data, suggesting large near term price movement into the expected release of Q1 of April 23.
April 15, 2015
07:46 EDTJNPR, CIENEricsson, Juniper in focus for deals after Nokia-Alcatel tie-up, Bloomberg says
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April 14, 2015
11:55 EDTCIENCommunication equipment stocks active after potential Nokia-Alcatel deal
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