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Stock Market & Financial Investment News

News Breaks
August 13, 2014
11:27 EDTDTV, CIEN, T, FNSR, INFN, JDSUJDSU 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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November 12, 2014
12:56 EDTTFCC chairman disagrees with Obama on Internet rules, Washington Post says
FCC Chairman Tom Wheeler told the executives of major Internet companies that he favors a more nuanced solution for regulating the Internet than the one suggested by President Obama, according to The Washington Post. Wheeler said he would "try to split the baby" between the president's proposal and the agenda of Internet executives who don't want the rules to affect their business, the newspaper stated, citing four unnamed sources who attended a meeting with Wheeler. Comcast (CMCSA), Time Warner Cable (TWC), Verizon (VZ), Cablevision (CVC) ,and AT&T (T) are major Internet Service Providers. Executives from Google (GOOG) and Yahoo (YHOO) were at the meeting with Wheeler, the newspaper said. . Reference Link
09:28 EDTTAT&T to pause fiber investment till net neutrality laws ironed out, Reuters says
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07:48 EDTTWells Fargo to hold a conference
5th Annual Technology, Media & Telecom Conference is being held in New York on November 12-13.
06:00 EDTTAT&T implied volatility of 12 at lower end of index mean range
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November 11, 2014
12:43 EDTINFNInfinera management to meet with William Blair
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07:24 EDTTAT&T move will discourage others seeking in-flight Wi-Fi, says William Blair
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05:59 EDTTAT&T implied volatility of 12 at lower end of index mean range
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November 10, 2014
15:55 EDTJDSUNeedham to hold a conference
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14:47 EDTJDSUJDSU management to meet with Jefferies
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14:09 EDTTBoehner strongly opposes net neutrality
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13:35 EDTFNSRCapital Research Global reports 11.9% passive stake in Finisar
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13:14 EDTTAT&T not entering Inflight Connectivity space, RGN reports
AT&T (T) decided not to enter the inflight connectivity after deeming the space too risky, RGN reports, citing sources. AT&T confirmed in a statement to the website, "After a thorough review of our investment portfolio, the company decided to no longer pursue entry into the Inflight Connectivity industry." AT&T's entrance into the space was seen as possibly competitive threat to Gogo (GOGO). Reference Link
12:45 EDTTFullscreen to acquire Rooster Teeth, terms not disclosed, Reuters reports
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12:43 EDTTAT&T issues statement on White House Title II announcement
AT&T issued the following statement in response to the White House's announcement regarding Title II. AT&T executive VP Jim Cicconi said, "Today’s announcement by the White House, if acted upon by the FCC, would be a mistake that will do tremendous harm to the Internet and to U.S. national interests. It is a complete reversal of a bipartisan policy that has been in place since the Clinton Administration—namely, to treat Internet access as an information service subject to light-touch regulation. This classification of Internet service has been upheld by the Supreme Court and has enjoyed strong Congressional support for nearly a generation. Now, with one statement, the White House is telling the FCC to ignore this precedent and to instead impose on the entire Internet—from end to end—onerous government regulation designed in the 1930s for a Bell phone monopoly that no longer exists, not for a 21st century technology. This will have a negative impact not only on investment and innovation, but also on our economy overall. For a generation, the Internet has been an American success story. Light-touch regulation has encouraged levels of investment unprecedented by any industry and spawned incredible innovation. Today’s action puts all of that at risk—and puts it at risk not to remedy any specific harm that has occurred. Instead, this action is designed to deal with a hypothetical problem posed by certain political groups whose objective all along has been to bring about government control of the Internet. The White House is proposing to put the Internet and our economy at risk as a result of such political pressures. We feel the actions called for by the White House are inconsistent with decades of legal precedent as well as Congressional intent. Moreover, if the government were going to make such a momentous decision as regulating the entire Internet like a public utility, that decision is more properly made by the Congress and not by unelected regulators without any public record to support the change in regulation. If the FCC puts such rules in place, we would expect to participate in a legal challenge to such action.”
09:45 EDTTObama urges FCC to enact 'strongest possible rules' to protect net neutrality
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09:43 EDTTObama urges FCC to enact 'strongest possible rules' to protect net neutrality
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09:21 EDTJDSUActivist Sandell to vote against some JDSU board nominees, Bloomberg says
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08:22 EDTT, JDSUNetwork equipment makers slip after AT&T projects lower 2015 capital spending
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08:12 EDTT, CIENAT&T 2015 capex reduction negative for select stocks, says JPMorgan
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November 8, 2014
20:17 EDTTAT&T could be the best bet of telecom stocks, Barron's says
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