|Bid||6.48 x 200|
|Ask||6.85 x 500|
|Day's range||6.29 - 6.76|
|52-week range||5.87 - 11.30|
|PE ratio (TTM)||8.55|
|Earnings date||29 Jan 2018 - 2 Feb 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||9.58|
Oclaro plunged on weak guidance, sending shares of others in the fiber-optic and optical space down as well.
Networking equipment vendor Arista Networks (ANET), which reports this afternoon, after the closing bell, could be at risk from slumping spending at cloud computing operators, according to a note this morning from Needham & Co.’s Alex Henderson, who follows the shares of Arista along with Juniper Networks and various optical component suppliers including Oclaro (OCLR), which reported disappointing results last night, specifically citing weakness in its cloud, or “hyper scale,” market. "We are very worried about Arista Networks after the close,” writes Henderson. Arista has never missed a quarter since it came public.
On a per-share basis, the San Jose, California-based company said it had net income of 16 cents. Earnings, adjusted for one-time gains and costs, were 20 cents per share. The results surpassed Wall Street ...
Shares of fiber-optic component maker Oclaro (OCLR) are down 72 cents, or 9%, at $7.30, in late trading, at $7.30, after the company this afternoon reported fiscal Q1 revenue and profit higher than analysts were expecting, but missed by a wide margin with its outlook for this quarter’s revenue, again citing China as a problem, as many optical firms have all year long, but also sluggishness in the data center computing market. CEO Greg Dougherty called the results “strong,” adding that they were "fueled by our CFP2-ACO and QSFP product lines." Dougherty added that "Our near-term visibility includes continued softness in China, compounded by a recent slowdown in data center sales.” The warning about China echoes one from peer Inphi (IPHI) yesterday, while the remark about data centers echoes worries that hit peer Applied Optoelectronics (AAOI), discussed yesterday by Raymond James.
Jim Cramer highlights optical networking plays as ones that won't require the President-elect to lead the charge higher.