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Stock Market & Financial Investment News

News Breaks
August 13, 2014
11:27 EDTJDSU, FNSR, CIEN, INFN, T, DTVJDSU falls after outlook disappoints, analyst downgrades
Shares of JDSU (JDSU), a provider of equipment to telecommunications service providers, are sharply lower after the company's fourth quarter results and first quarter guidance were reported last night. Following the report, the stock was downgraded this morning at two Street research firms. WHAT'S NEW: Last night, JDSU reported fourth quarter adjusted earnings of 14c per share, beating the consensus forecast by 1c, on revenue of $448.6M, which topped the consensus $436.8M view. However, JDSU expects revenue to be $405M-$425M in its first quarter and sees Q1 EPS of 8c-12c, which fell short of consensus of about $441M and 14c, respectively. JDSU's President and CEO Tom Waechter said, "Looking ahead to fiscal 2015, we believe there are strong market drivers across our three business segments, and that we are well positioned with differentiated products and solutions to support our customers as they transition to Software Defined Networks, Network Function Virtualization and more dependency on cloud infrastructure. We continue to lead in our core network and anti-counterfeiting markets and I am pleased with the momentum we are building in our commercial lasers business on the strength of our highly differentiated fiber laser product line." ANALYST OPINION: Following the company's report, B. Riley analyst Dave Kang cut his rating on JDSU shares to Neutral from a Buy rating, citing near-term uncertainties in the North American telecom market. Kang pointed to two events contributing to that uncertainty, namely an architectural shift to SDN, or Software Defined Networking, and AT&T's (T) planned merger with DirecTV (DTV). The analyst acknowledged previously underestimating the potential impact of the SDN shift on the telecom equipment industry and noted that appears to be impacting JDSU's NSE business more than its optical component unit. Kang prefers Finisar (FNSR) over JDSU given the current environment, noting that about 70% of Finisar's sales come from the datacom sector. Kang lowered his price target on JDS Uniphase shares to $11.75 from $15.50. Piper Jaffray analyst Troy Jensen also downgraded JDSU following its report, lowering his rating on the stock to Neutral from Overweight. Jensen also said the company's worse than expected guidance indicates softer Telco spending and he believes JDSU will have trouble showing significant revenue acceleration even if the optical upgrade cycle starts to ramp up. Piper lowered its price target on the stock to $12 from $14. OTHERS TO WATCH: Other providers of telecom equipment include Ciena (CIEN) and Infinera (INFN). PRICE ACTION: In morning trading, shares of JDSU fell $1.12, or 9.4%, to $10.78. Meanwhile, shares of Finisar were down nearly 2% to $19.58, Ciena slipped 1.5% to $18.92 and Infinera was fractionally higher at $9.09.
News For JDSU;FNSR;CIEN;INFN;T;DTV From The Last 14 Days
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September 5, 2014
16:45 EDTCIEN, FNSRMarket ends week little changed after mixed economic data
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10:50 EDTCIEN, FNSROptions with decreasing implied volatility
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10:05 EDTFNSROn The Fly: Analyst Downgrade Summary
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10:05 EDTCIENOn The Fly: Analyst Upgrade Summary
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09:16 EDTCIEN, FNSROn The Fly: Pre-market Movers
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08:54 EDTCIENCiena should be bought on weakness, says MKM Partners
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08:48 EDTFNSRFinisar gross margins likely to rebound in FY16, says MKM Partners
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08:30 EDTCIENCiena price target lowered to $24 from $30 at BMO Capital
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08:10 EDTFNSRFinisar price target lowered to $16.50 from $19 at Jefferies
Jefferies lowered its price target for Finisar shares to $16.50, calling the company's Q2 sales and margin guidance "ugly." The firm says it remains concerned about pricing/technology risk and keeps a Hold rating on the stock.
07:33 EDTCIENCiena price target lowered to $25 from $27 at UBS
UBS lowered its price target on Ciena to $25 from $27 to reflect a more conservative outlook following the company's guidance miss. The firm said their mid-term outlook remains intact and maintains their Buy rating on the shares of Ciena.
07:16 EDTFNSRFinisar downgraded at Stifel
As noted earlier, Stifel downgraded Finisar to Hold from Buy. The firm believes that the company's guidance indicates that its challenges are intensifying.
07:09 EDTFNSRFinisar downgraded to Hold from Buy at Stifel
06:54 EDTFNSRFinisar bottom may be forming, says RBC Capital
After Finisar reported in-line Q1 revenue and slightly higher than expected EPS but provided lower than expected Q2 revenue guidance, RBC Capital thinks the stock may be forming a bottom as it approaches 2x tangible book value. The firm trimmed its price target on the stock to $19 from $21 but keeps an Outperform rating on the shares.
06:41 EDTTFCC head says agency to promote high speed Internet choices, NY Times reports
Stating that fewer than 25% of American homes have access to more than one high speed Internet provider, FCC Chairman Tom Wheeler said the agency would look to promote additional choices in the sector, according to The New York Times. High speed Internet providers include Comcast (CMCSA), Cablevision (CVC), Verizon (VZ), AT&T (T), and Google (GOOG). Reference Link
06:40 EDTFNSRFinisar downgraded to Buy from Strong Buy at Needham
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06:39 EDTFNSRFinisar price target lowered to $25.50 from $30 at B. Riley
B. Riley lowered Finisar's price target to $25.50 citing the weak Q2 outlook. Shares remain Buy rated.
05:36 EDTFNSRFinisar sell-off brings attractive entry point, says Piper Jaffray
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05:33 EDTTAT&T to offer Moto X, Moto Hint
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05:24 EDTCIENCiena upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded Ciena to Buy citing valuation and lowered expectations following the company's Q3 results. Goldman believes Ciena's current margin weakness will be temporary and keeps a $26 price target for the shares.
05:19 EDTDTVDirecTV calls on Raycom Media to free NFL, college football games
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