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Stock Market & Financial Investment News

News Breaks
March 28, 2014
07:29 EDTJDSUJDSU downgraded at RBC Capital
As noted earlier, RBC Capital downgraded JDSU to Sector Perform from Outperform. The firm downgraded the stock based on valuation. Target $15.
News For JDSU From The Last 14 Days
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March 4, 2015
07:24 EDTJDSUGSMA to hold a conference
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March 3, 2015
11:40 EDTJDSUJDSU management to meet with Needham
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February 27, 2015
09:59 EDTJDSUSandell says to hold entire board of JDSU accountable for spin-off structure
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07:20 EDTJDSUJDSUannounces names of new companies, departure of CFO Rex Jackson
JDSU announced yesterday the filing of a Registration Statement on Form 10 with the SEC, in connection with the spinoff of its Communications and Commercial Optical Products business, which will result in two independent, publicly traded companies. JDSU also introduced the new names of the two companies. In addition, the company announced that Rex Jackson, CFO, will depart JDSU September 30, following the expected completion of the spinoff and necessary fiscal year-end filings. Under the plan announced in September 2014, JDSU will spin off its CCOP business, to be named Lumentum Holdings. Lumentum will be a global leader in optical components and subsystems for the telecommunications market, with high growth opportunities in data communications. Alan Lowe will lead Lumentum as CEO. He joined JDSU in September 2007 as senior vice president of the Lasers business and became president of JDSU's newly formed CCOP business segment in 2008. Aaron Tachibana will be Lumentum's CFO. JDSU's Network Enablement, Service Enablement and Optical Security and Performance Products businesses will be renamed Viavi Solutions Inc. at the time of the separation. The Viavi brand is based on the company's ability to deliver the visibility and actionable insight needed to profitably manage the complex transition to next generation networks and services. Tom Waechter, JDSU's current president and CEO, will continue to lead Viavi. Rex Jackson has decided to leave JDSU on September 30, following the expected completion of the separation and the filing of Viavi's Annual Report on Form 10-K. JDSU expects to initiate a search for Jackson's replacement in due course. Current JDSU stockholders will own shares in both corporations following the separation. The spinoff is subject to the satisfaction or waiver of a number of conditions, including the Registration Statement on Form 10 for Lumentum common stock being declared effective by the SEC and certain other conditions described in the information statement included in the Registration Statement and in the agreements to be filed as exhibits to the Registration Statement and other customary matters. JDSU expects all the conditions to the spinoff to be satisfied on or before the distribution date. Approval by JDSU's stockholders is not required for completion of the separation.

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