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Finisar Corporation stock price
Finisar Corporation latest news:
Finisar stock falls after Goldman Sachs downgrades to sell
Shares of Finisar Corp. fell 3.7% in premarket trading Tuesday after analysts at Goldman Sachs downgraded its stock to sell. The analysts, led by Doug Clark, see a "combination of cyclical risks and company specific product exposures that could pressure revenues and margins." While he contends that the company's relationship with Apple Inc. seems promising, he believes investors are downplaying potential execution risks for the company. In addition, he points to "rising capacity and weaker demand" for optical components, which is causing oversupply in the market. "We believe Finisar could be most at risk given its vertical integration," Clark wrote. Finisar's stock has gained 12% so far in 2018, while the S&P 500 Index is up 4.2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Finisar CEO Jerry Rawls to retire, company appoints Michael Hurlston new CEO
Finisar Corp. said late Thursday co-founder and Chief Executive Jerry Rawls has retired, and that Michael Hurlston, a former Broadcom executive, has been appointed CEO and a director, effectively immediately. Hurlston and Rawls "will work together to ensure a smooth transition," and Rawls will continue to serve as a director, the company said in a statement. Shares of Finisar rose 2% in late trading after ending the regular session up 2.4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Apple's Millions Could Give Finisar a Massive Boost
Apple's investment will boost Finisar's VCSEL prospects.
Finisar and Caterpillar jump while Diebold and Lumentum fall
Finisar and Caterpillar trade higher while Diebold Nixdorf and Lumentum stumble
Why Finisar Shares Are Soaring Today
Apple is betting big on 3D-sensing components.
Lumentum stock falls as Apple makes investment in rival Finisar
Shares of Lumentum Holdings Inc. are down 8.7% in premarket trading Wednesday following news that Apple Inc. was investing $390 million in Finisar Corp. , one of Lumentum's competitors. Both companies make vertical-cavity surface-emitting lasers, or VCSELs, which help enable 3D-sensing capabilities and facial recognition. In a release, Apple said that its investment in Finisar would "enable Finisar to exponentially increase its R&D spending and high-volume production" of VCSELs. "In the fourth quarter of 2017, Apple will purchase 10 times more VCSEL wafers than were previously manufactured worldwide over a similar time period," the company added. As of Tuesday's close, Apple shares were up 48% so far in 2017, compared with a 34% gain for Lumentum and a 36% drop for Finisar. The S&P 500 Index has gained 19%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Finisar shares rise even after earnings miss
Finisar Corp. shares rose in the extended session Thursday even after the fiber-optic company's earnings and outlook missed Wall Street targets. Finisar shares, which initially fell 5%, rose 3.1% to $18.60 after hours. The company reported fiscal second-quarter net income of $5.9 million, or 5 cents a share, compared with $48.8 million, or 43 cents a share, in the year-ago period. Adjusted earnings were 23 cents a share. Revenue declined to $332.2 million from $369.9 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 30 cents a share on revenue of $330.8 million. For the fiscal third quarter, Finisar estimates earnings of 21 cents to 27 cents a share on revenue of $325 million to $345 million. Analysts expect earnings of 33 cents a share on revenue of $344.1 million.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
GNC Holdings, Finisar Dive into Monday’s 52-Week Low Club
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