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Stock Market & Financial Investment News

News Breaks
June 13, 2014
11:31 EDTFNSR, OPLK, OCLR, CIEN, JNPRFinisar 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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October 30, 2014
17:05 EDTOPLKOplink Communications sees Q2 EPS 38c-44c, consensus 30c
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17:04 EDTOPLKOplink Communications reports Q1 EPS 34c, consensus 26c
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15:25 EDTJNPRJuniper sees EPS CAGR over 15% over 2015-2017
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15:00 EDTJNPRJuniper sees 3%-6% revenue CAGR from 2015-2017
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October 27, 2014
07:08 EDTJNPRJuniper outlook still positive, says Bernstein
After Juniper reported in-line Q3 results but its Q4 guidance missed expectations, Bernstein thinks the company's market share has remained stable, and the firm still expects the company to benefit from a recovery in IP routing spending next year. Bernstein keeps a $30 price target and Outperform rating on the shares.
October 24, 2014
16:20 EDTJNPROn The Fly: Closing Wrap
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11:25 EDTJNPRJuniper falls after Q4 profit outlook trails consensus
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10:52 EDTJNPRJuniper has a bearish pattern in progress, levels to watch
The drop in price today has triggered a bearish flag pattern. The measuring implications suggest a downside potential to the $16.50 area if the pattern remains active and completes. The pattern would no longer be active on a move above the flag at $20.50 or higher.
October 23, 2014
18:52 EDTJNPROn The Fly: After Hours Movers
UP AFTER EARNINGS: Rubicon Project (RUBI), up 19.2%... KLA-Tencor (KLAC), up 15.8%... Gigamon (GIMO), up 13.5%... Maxwell (MXWL), up 11.3%... Qlik Technologies (QLIK), up 9.8%... NetSuite (N), up 5.5%... Microsoft (MSFT), up 3.3%... Juniper Networks (JNPR), reverses in after-hours trading and is up 1.4% after reporting third quarter results and announcing a $1.1B increase to the company's share repurchase authorization. ALSO HIGHER: Vitae Pharmaceuticals (VTAE), up 38.6% following positive top-line results from two Phase 1 clinical trials of BI1181181/VTP-37948... Pfizer (PFE), up 1.8% after announcing a new $11B share repurchase program. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 10.7%... Synaptics(SYNA), down 12.7%... Pandora (P), down 6.8%... Lattice Semiconductor (LSCC), down 5.6%... Maxim Integrated (MXIM), down 5.8%. ALSO LOWER: DryShips (DRYS), down 16.5% after filing an automatic common stock shelf... NPS Pharmaceuticals (NPSP), down 7.9% following PDUFA date for Natpara extended three months to January 24... GoPro (GPRO), down 2.8% after being initiated with an Underperform at Oppenheimer.
16:14 EDTJNPRJuniper down 6.5% after reporting Q3 results
16:14 EDTJNPRJuniper sees FY15 operating expenses $1.9B plus or minus $25M
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16:13 EDTJNPRJuniper sees Q4 adjusted EPS 28c-32c, consensus 41c
Sees Q4 revenue $1.03B-$1.08B, consensus $1.18B. Sees non-GAAP gross margins approximately 64%, plus or minus 0.5%.
16:12 EDTJNPRJuniper reports Q3 EPS 36c, consensus 35c
Reports Q3 revenue $1.13B, consensus $1.13B.
16:11 EDTJNPRJuniper approves $1.1B increase to share repurchase authorization
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15:30 EDTJNPRNotable companies reporting after market close
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13:57 EDTJNPREarnings Preview: Juniper sees Q3 EPS 34c-36c on revenue of $1.11B-$1.12B
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12:49 EDTJNPRJuniper Seagate weekly volatility increases into Q3 and outlook
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11:29 EDTJNPRJuniper to host investor day
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