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Stock Market & Financial Investment News

News Breaks
October 8, 2012
10:13 EDTCIEN, JDSU, OCLR, OPLK, FN, EMKR, NPTN, FNSROptical component makers lower after Oclaro misses expectations
Several companies that make optical network components for telecom products are sinking after one of the names in the space, Oclaro (OCLR), announced on Friday night that its first quarter revenue would be lower than expected. Oclaro, which said its revenue would be below both its guidance and analysts' consensus estimates, cited "challenging market conditions" and a slower than expected ramp of its new products as two reasons for its revenue shortfall. In a note to investors earlier today, Needham analyst Alex Henderson wrote that Oclaro's problems probably aren't affecting other companies in its sector. Among other companies in the sector, Henderson expects Finisar (FNSR) to report results in-line with analysts' expectations, and believes that Fabrinet's (FN) results are likely to be consistent with its previous guidance. Needham's favorite names in the sector are Neophotonics (NPTN) and Oplink (OPLK), and it also recommends Ciena (CIEN) and Emcore (EMKR). The firm maintained a Hold rating on Oclaro, which dropped 18c, or 6.84%, to $2.45 in early trading. Meanwhile, optical component maker JDS Uniphase (JDSU) slid 3.17% to $11, Finisar lost 2.14% to $13.23, and Fabrinet retreated 3.45% to $11.20,
News For OCLR;FNSR;FN;JDSU;NPTN;OPLK;CIEN;EMKR From The Last 14 Days
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January 19, 2015
11:17 EDTCIENTrans Pacific Express selects Ciena for submarine cable upgrade
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11:16 EDTCIENCiena to further upgrade Japan-U.S. cable network
The Japan-U.S. Cable Network recently selected Ciena to expand its trans-Pacific submarine network that spans close to 22,000 km and provides diverse connectivity from Japan to the U.S. This upgrade will utilize the flexibility and scalability of Ciena’s GeoMesh submarine solution and the latest WaveLogic programmable coherent optical technology to further increase the capacity of the network, which was originally upgraded with Ciena’s coherent solution in 2012.
January 16, 2015
18:08 EDTEMKREMCORE names Dr. Hank Blauvelt as Chief Technology Officer
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January 15, 2015
16:03 EDTJDSUJDSU issues statement in response to Sandell Asset Management
JDSU ssued the following statement: "The JDSU Board of Directors remains committed to acting in the best interest of all shareholders and to strong corporate governance. Consistent with the Board's historical approach of regularly reviewing corporate governance best practices, and after discussions with many of the company's shareholders both before and after the December 2014 Annual Meeting, the company undertook an evaluation of potential changes to the advance notice provisions of the company's bylaws. The Board expects to finalize its decision on any such changes in this calendar quarter following additional shareholder outreach. As JDSU continues to execute on its previously announced separation, the Board remains committed to evaluating all opportunities for additional or greater value creation. Goldman Sachs and Centerview Partners are serving as financial advisors and DLA Piper is serving as legal counsel to JDSU."
January 13, 2015
09:05 EDTJDSUSandell reiterates need for JDSU to pursue strategic actions to maximize value
Sandell Asset Management, a shareholder of JDS Uniphase Corporation, has publicly released the following letter to the Board of Directors of JDSU. In such letter, Sandell calls for the immediate amendment of the Company’s Bylaws to remedy changes made in May 2014 that were detrimental to shareholder rights. Additionally, Sandell reiterates the need for JDSU to pursue further strategic actions to maximize shareholder value.

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