Finisar (FNSR) NewsBite - FNSR Earnings Top Estimates
Posted: Friday, September 03, 2010 11:37 AM EDT
By: Market Intelligence Center Staff
Finisar (NASDAQ: FNSR) opened at $15.41. So far today, the stock has hit a low of $15.32 and a high of $15.88. FNSR is now trading at $15.70, up $2.09 (15.36%). Over the last 52 weeks the stock has ranged from a low of $7.05 to a high of $17.91. FNSR reported earnings last night, posting a first-quarter profit of $19.4 million, or 24 cents per share. Excluding one-time items, FNSR earned 31 cents per share on revenue of $207.8 million. Analysts had forecast a profit of 23 ecnts per share on revenue of $200.98 million. FNSR also forecast second-quarter revenue of $215 to $230 million. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for FNSR. If you are looking for a hedged play on FNSR the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 14 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Finisar (FNSR) Stock ReportSee what our analysts have uncovered about Finisar (FNSR).