Here’s Why Telecom Equipment Stocks Are Getting Drop-Kicked Today
The simple reason is that Finistar Corp. (NASDAQ:FNSR) reported earnings this morning that fell short of analyst expectations, and investors fear that the company’s first quarter will be indicative of a larger earnings losing streak among competitors in the telecom supplier sector. Shares of FNSR are getting destroyed this morning, down nearly 18% at last price check. You can check out the details of Finistar’s earnings here.
Here’s a look at how the news is affecting other companies in the sector:
JDS Uniphase Corp. (NASDAQ:JDSU) is down 4.78%, Oclaro Inc. (NASDAQ:OCLR) also down 4.45%, Oplink Communications (NASDAQ:OPLK) off 3.36%, EMCore Corp. (NASDAQ:EMKR) slightly lower at -.55%, Alliance Fiber Optic Products (NASDAQ:AFOP) down 1.6%.
Lone wolfs in the green this morning are:
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