Market Overview

Finisar's Lower Q2 Guidance Trumps Inline Q1

Share:

Finisar Corporation (NASDAQ: FNSR) shares are trading lower by $1.60 at $20.39 in Friday's session.

After Thursday's close, Finisar reported an inline Q2 EPS along with a slight beat for sales, however, the company significantly reduced Q2 EPS and sales guidance.

After a lower open, Finisar continued in that direction before finding bottom at $20.21 and began to move higher. The ensuing rally took the stock to $21.25, which is just shy of the lower-end of Thursday's session ($21.42). The stock hasn't traded under $20.00 since August 16, 2016, when it bottomed at $19.70.

It has been unable to hold the gains from that rally and is now drifting back towards the lows for the day.

 

Related Articles (FNSR)

View Comments and Join the Discussion!

Posted-In: Technicals Intraday Update Movers Trading Ideas