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Stock Market & Financial Investment News

News Breaks
March 19, 2013
07:22 EDTNPTN, OCLR, JDSU, FNSR, FN, EMKRNeedham to host company meetings at OFC
Needham Analyst Henderson holds a day of company meetings in conjunction with the Optical Fiber Communications Conference in Anaheim, California on March from 12 pm to 5:30 pm.
News For OCLR;EMKR;FNSR;NPTN;FN;JDSU From The Last 14 Days
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February 4, 2016
16:14 EDTEMKREMCORE sees Q2 revenue $21M-$24M, consensus $21.97M
16:05 EDTEMKREMCORE reports Q1 EPS 4c, consensus 5c
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February 3, 2016
12:12 EDTNPTN, OCLR, FNSROclaro 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).
11:00 EDTFNFabrinet mentioned positively by Navellier
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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.
09:19 EDTOCLROn The Fly: Pre-market Movers
UP AFTER EARNINGS: Boot Barn (BOOT), up 20.7%... Oclaro (OCLR), up 8.2%... Edwards Lifesciences (EW), up 5.8%... Natural Health (NHTC), up 5.7%... Viavi Solutions (VIAV), up 2.8%. ALSO HIGHER: Conatus (CNAT), up 18.8% after the FDA has granted Fast Track designation to the company's emricasan development program for the treatment of liver cirrhosis... Marvell Technology (MRVL), up 3.3% after Starboard Value disclosed a 6.7% activist stake in the company... Syngenta (SYT), up 2.9% after ChemChina offers to acquire the company in a transaction valued over $43B. DOWN AFTER EARNINGS: Navios Maritime Partners (NMM), down 33.5%... National-Oilwell Varco (NOV), down 7.9%... Chipotle (CMG), down 5.7%... Yahoo (YHOO), down 1.9%... Mondelez (MDLZ), down 4.4%... Illumina (ILMN), down 4.6%... Alexion Pharmaceuticals (ALXN), down 3.5%... Merck (MRK), down fractionally.
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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February 2, 2016
19:22 EDTOCLROn The Fly: After Hours Movers
UP AFTER EARNINGS: Boot Barn (BOOT), up 16.5%... Wabash National (WNC), up 9.7%... Oclaro (OCLR), up 6.8%... Myriad Genetics (MYGN), up 8%... Ultimate Software Group (ULTI), up 6.2%... Natural Health (NHTC), up 6.2%... Edwards Lifesciences (EW), up 6.2%... Viavi Solutions (VIAV), up 2.4%... Gilead Sciences (GILD), up just under 1%. DOWN AFTER EARNINGS: Match Group (MTCH), down 7.3%... Yahoo (YHOO), down 1.2%... Chipotle (CMG), down 7.1%. ALSO LOWER: Barnes & Noble (BKS), down 2.4% after General Growth (GGP) CEO Sandeep Mathrani announced that Amazon (AMZN) is going to open 300-400 brick-and-mortar bookstores.
16:17 EDTOCLROclaro sees Q3 adjusted operating income $2M-$6M, consensus (2c)
Sees Q3 revenue $97M-$103M, consensus $90.07M. Sees Q3 Non-GAAP gross margin in the range of 26% to 28%.
16:16 EDTOCLROclaro reports Q2 adjusted gross margin 28.8% vs. 26.4% in Q1
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16:13 EDTOCLROclaro reports Q2 EPS 0c, consensus (1c)
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12:03 EDTFNOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
07:18 EDTFNFabrinet price target raised to $31 from $26 at Stifel
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February 1, 2016
16:20 EDTFNFabrinet sees Q3 non-GAAP EPS 52c-54c, consensus 45c
Sees Q3 revenue $240M-$244M, consensus $216.68M.
16:19 EDTFNFabrinet reports Q2 EPS 50c, consensus 46c
Reports Q2 revenue $233.0M, consensus $220.75M.

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