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News Breaks
February 3, 2014
06:07 EDTJDSUJDSU implied volatility of 35 at lower end of index mean range
News For JDSU From The Last 14 Days
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September 12, 2014
07:40 EDTJDSUJDSU price target raised to $17 from $15 at MKM Partners
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September 11, 2014
16:21 EDTJDSUOn The Fly: Closing Wrap
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12:16 EDTJDSUOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. Initial jobless claims, reported prior to the open, did little to stoke buying after coming in higher than expected. The market has drifted off its lows of the session but the averages once again remain range bound. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 11K to 315K in the week ended September 6, versus expectations for them to tick down slightly to 300K. The Federal budget for August is scheduled to be reported at 2:00 pm ET, with a deficit of $130.0B forecast. COMPANY NEWS: Shares of yoga-inspired apparel maker lululemon (LULU) rose over 15% after the company reported better than expected second quarter results and increased its fiscal year guidance. Meanwhile, shares of another well-known retailer, RadioShack (RSH), advanced 16% after its own quarterly report, despite acknowledging it will need additional capital to complete its turnaround and that it may need to pursue a bankruptcy filing. MAJOR MOVERS: Among the notable gainers was JDSU (JDSU), which advanced 11% after announcing last night that it plans to separate into two publicly traded companies, namely an optical components and commercial lasers one and another focused on network and service enablement. This morning the stock was upgraded at RBC Capital to Outperform, as the firm believes that the split should enable the entities to streamline their costs and that the shares could reach a $40 value over the long-term. Also higher was Taminco (TAM), which rose nearly 11% and traded above the $26.00 per share price it agreed to in striking a deal to be acquired by Eastman Chemical (EMN). Of note, the deal includes a "go shop" provision under which Taminco may solicit alternative acquisition proposals for a thirty day period. Following the announcement, Eastman shares rose a bit over 1%. Among the noteworthy losers was E2open (EOPN), which plunged 30% and was downgraded at Pacific Crest and Northland after the company pre-announced Q2 results and issued weaker than expected 2015 revenue guidance. Also lower were shares of China's 21Vianet (VNET), which fell 17% after the company hosted a conference call to discuss the recent allegations made by a short seller. INDEXES: Near midday, the Dow was down 40.49, or 0.24%, to 17,028.22, the Nasdaq was down 12.73, or 0.28%, to 4,573.80, and the S&P 500 was down 3.66, or 0.18%, to 1,992.03.
11:29 EDTJDSUOptions with increasing implied volatility
Options with increasing implied volatility: VNET AVNR GPRO RAX FTR JDSU PSEC APD SYY GGP
10:00 EDTJDSUOn The Fly: Analyst Upgrade Summary
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09:39 EDTJDSUJDSU gaps up, levels to watch
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09:18 EDTJDSUOn The Fly: Pre-market Movers
UP AFTER EARNINGS: lululemon (LULU), up 15%... Sigma Designs (SIGM), up 7%. ALSO HIGHER: JDSU (JDSU), up 13.8% after announcing that it will separate into two publicly traded companies... Wet Seal (WTSL), up 4.5%, upgraded at B. Riley following Q2 earnings results... Gogo (GOGO), up 5% after announcing partnership with T-Mobile (TMUS)... Digital Ally (DGLY), up 8.4% after announcing plans to introduce "bullet camera" option at October police conference. DOWN AFTER EARNINGS: Restoration Hardware (RH), down 5%... Five Below (FIVE), down 5.6%. LOWER: Radio Shack (RSH), down 8% after reporting Q2 losses, stating that it may need to pursue bankruptcy... E2open (EOPN), down 29%, downgraded at Pacific Crest and Northland after the company announced preliminary Q2 earnings results... Twitter (TWTR), down 1% after announcing that it will offer $1.3B in convertible unsecured senior notes... Crocs (CROX), down 2.6% after downgraded at Buckingham... Macy's (M), down 1.3% after downgraded at Sterne Agee.
08:34 EDTJDSUJDSU names Paul McNab as Chief Marketing and Strategy Officer
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06:56 EDTJDSUJDSU to host analyst day
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06:48 EDTJDSUJDSU upgraded at RBC Capital
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06:22 EDTJDSUJDS Uniphase volatility expected to move on separation into two companies
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06:09 EDTJDSUJDSU upgraded to Outperform from Sector Perform at RBC Capital
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September 10, 2014
18:33 EDTJDSUOn The Fly: After Hours Movers
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17:31 EDTJDSUOptical networking stocks up after JDS Uniphase separating into two companies
Shares of Ciena Corporation (CIEN) and Finisar (FNSR) are trading higher in the after hours after JDS Uniphase (JDSU) said it would separate into two companies, one being an optical components company. Shares of Ciena are up 1.55%, or 30c, to $19.70 while Finisar shares are higher by 1.45%, or 25c, to $17.55.
16:52 EDTJDSUJDSU higher by 14% after saying separating into two publicly traded companies
16:17 EDTJDSUJDSU to separate into two publicly traded companies
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16:17 EDTJDSUJDSU backs Q1 EPS 8c-12c, consensus 10c
Backs Q1 revenue $405M-$425M, consensus $416.62M.
16:09 EDTJDSUJDSU to separate into two separate public companies
Disclosed in a regulatory filing.
16:00 EDTJDSUJDSU trading halted, pending news
September 2, 2014
13:04 EDTJDSUFinisar retreats after analyst cuts on pricing, demand worries
Shares of optical components maker Finisar (FNSR) are falling after research firm Jefferies downgraded the stock to Hold from Buy in a note to investors today, citing pricing and demand concerns. WHAT'S NEW: After conducting checks, Jefferies analyst James Kisner wrote that Finisar is facing "brutal" prices for datacom optics, particularly in China. Prices for telecom components in North America are also challenging for Finisar, he reported. Various low-cost competitors are driving down prices for datacom optics, while AT&T (T) is trying to force optical systems vendors to cut the prices of their components by 40%, Kisner stated. Meanwhile, demand for mobile backhaul optics slowed significantly in China over the last month, and two of Finisar's customers - Cisco (CSCO) and Huawei - are exploring alternatives to Finisar's products, Kisner indicated. Additionally, Intel (INTC) and numerous start-ups may launch products that will compete with those of Finisar, potentially cutting into its market share beginning in the second half of 2015, the analyst warned. He cut his price target on the shares to $19 from $25. PRICE ACTION: In early afternoon trading, Finisar slumped 5.5% to $19. Other optical components makers also dropped, with Oclaro (OCLR) falling 1% to $1.75 and JDS Uniphase (JDSU) losing 2% to $11.30.
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