Finisar Fallout Spreads Wide (FNSR, JDSU, OCLR, ALU, CIEN, HLIT, AFOP)

Posted in pre-market 
March 9th, 2011

Finisar Corporation (NASDAQ: FNSR) turned in a lackluster earnings report and lowered guidance well under plan after a weak China climate and other factors.  You already know the news because this about looking for primary and secondary fallout.

JDS Uniphase Corporation (NASDAQ: JDSU) is now trading down over 11% at $22.55 on over 500,000 shares pre-market as of 8:05 AM EST.  JDSU shares traded over 4.7 million shares in NASDAQ after-hours trading last night.

Oclaro, Inc. (NASDAQ: OCLR) is trading down 12.75% at $14.50 on over 20,000 shares at 8:05 AM EST.

Alcatel-Lucent (NYSE: ALU) is also down about 2.2% at $5.40 on over 200,000 shares at 8:05 AM EST.

CIENA Corp. (NASDAQ: CIEN) is trading down 5% at $24.40 on thin volume.  Harmonic Inc. (NASDAQ: HLIT) is down 2.3% at $9.35 on thin volume.  Alliance Fiber Optic Products Inc. (NASDAQ: AFOP) is down 2% at $12.75 on thin volume.

Finisar shares closed at $40.04 and the stock is now indicated down at $25.47 for a 36%+ drop and we already saw a whopping 575,000 shares traded as of 8:05 AM EST this morning.  Finisar went out at $25.70 on more than 4.3 million shares in the after-hours trading session alone.

JON C. OGG

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