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Stock Market & Financial Investment News

News Breaks
March 29, 2013
11:22 EDTNPTNNeoPhotonics OCU acquisition seen as accretive to adj. EBITDA within first year
NeoPhotonics announced that it has completed the acquisition of the semiconductor optical components business unit, OCU, of LAPIS Semiconductor. As of the closing, the OCU business was merged into and now operates as NeoPhotonics Semiconductor GK, a Japanese subsidiary of NeoPhotonics. Based on preliminary unaudited pro forma financial information provided by the management of LAPIS Semiconductor, OCU had revenue of approximately $45M for the first nine months ended September 30, 2012. Based on company estimates, the addition of OCU is expected to be accretive to the company’s Adjusted EBITDA within the first year following the transaction. Given that the acquisition closed in the first fiscal quarter for NeoPhotonics, transaction related expenses, which are expected to be in the range of $3M to $4M, are expected to be incurred in the first quarter. NeoPhotonics plans to provide an update on the OCU business, now NeoPhotonics Semiconductor GK, when it releases its quarterly financial results for the first quarter of 2013, which is currently expected to be in the first half of May 2013.
News For NPTN From The Last 14 Days
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February 3, 2016
12:12 EDTNPTNOclaro spikes after quarterly results, optical peers follow
Shares of optical networking firm Oclaro (OCLR) are advancing, along with its peers, after Oclaro reported better than expected quarterly results. WHAT'S NEW: After the close on Tuesday, Oclaro reported second quarter adjusted earnings per share of 3c on revenue of $94.1M. Both EPS and revenue were better than consensus estimates of (1c) and $91.5M, respectively. The company's adjusted gross margin rate for the quarter was 28.8%, much better than the 16.5% in the year ago quarter. Oclaro CEO Greg Dougherty pointed out the continuing growth in the company's 100G portfolio and said he expects revenue growth to continue in 2016. According to the CEO, revenue growth in the quarter "drove higher gross margin and net income." The company sees continued "robust" demand for its 100G product portfolio as it expands capacity in Asia. WHAT'S NOTABLE: Along with its Q2 results, Oclaro said it sees Q3 revenue of $97M-$103M, ahead of analyst expectations of $90.7M. On its Q2 earnings call, the company said it sees strong demand from China, with contract awards form China Telecom (CHA) and China Unicom (CHU ), which have deliveries slated for later in calendar year 2016. PRICE ACTION: Shares of Oclaro are up 10% in early afternoon trading. OPTICAL PEERS: Shares of other companies in the optical networking space are also out performing the market, including Finisar (FNSR), Infinera (INFN), Lumentum Holdings (LITE), NeoPhotonics (NPTN), and Ciena (CIEN).
10:00 EDTNPTNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Equal Weight from Underweight at Morgan Stanley... Badger Meter (BMI) upgraded to Outperform from Neutral at Baird... Boot Barn (BOOT) upgraded to Buy from Neutral at B. Riley... Chipotle (CMG) upgraded to Outperform from Market Perform at Wells Fargo... Dow Chemical (DOW) upgraded to Top Pick from Outperform at RBC Capital... Electro Scientific (ESIO) upgraded to Buy from Hold at Needham... Hyatt (H) upgraded to Outperform from Market Perform at Wells Fargo... Intel (INTC) upgraded to Neutral from Sell at Goldman... Mallinckrodt (MNK) upgraded to Buy from Neutral at Mizuho... Michael Kors (KORS) upgraded to Neutral from Sell at Citi... NeoPhotonics (NPTN) upgraded to Strong Buy from Outperform at Raymond James... PGT, Inc. (PGTI) upgraded to Buy from Hold at Craig-Hallum... Performance Sports Group (PSG) upgraded to Outperform from Neutral at Wedbush... Superior Drilling (SDPI) upgraded to Buy from Neutral at Roth Capital... Syntel (SYNT) upgraded to Buy from Hold at Maxim... Valley National (VLY) upgraded to Overweight from Neutral at Piper Jaffray... Willis Towers Watson (WLTW) upgraded to Buy from Neutral at SunTrust.
07:43 EDTNPTNNeoPhotonics upgraded to Strong Buy from Outperform at Raymond James
Raymond James upgraded NeoPhotonics to Strong Buy from Outperform with an $11 price target on shares. The firm's checks indicate near-term strength is being driven by Chinese demand and broadening adoption of 100G optical into the metro providing the balance of 2016 growth.
07:38 EDTNPTNNeoPhotonics upgraded to Strong Buy from Outperform at Raymond James
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