DJ Optical Components Rise on Data Upgrade Optimism -- Market Talk

Last update: 19/01/2017 1:13:32 pm

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13:13 ET - Optical-switching stocks rise following preliminary F2Q results from Oclaro (OCLR) showing sales exceeding or matching the high end of guidance and better-than-expected gross margins. Last week Applied Optoelectronics (AAOI) had preliminary results showing both top-and-bottom line beats. Stifel says these "are particularly positive datapoints for Finisar (FNSR), and to a lesser extent are positive for Lumentum (LITE) and Fabrinet (FN)." Optical-component companies are benefiting as companies upgrade data networks. Analysts at Piper Jaffray say "OCLR's positive results bodes well for the entire space and should act as a positive near-term tailwind and help diminish investor fears of a China slowdown." OCLR up 15% to $9.34 and has more than doubled over the past 12 months. FNSR rises 4.6%, LITE gains 2.7% and FN is up 2.4%. (patrick.sheridan@wsj.com) 


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January 19, 2017 13:13 ET (18:13 GMT)

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