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Fly News Breaks for September 11, 2019
INFN
Sep 11, 2019 | 14:43 EDT
B. Riley FBR analyst Dave Kang noted that shares of Infinera saw a 14% intraday reversal to go from positive to negative, which he believes was due to speculation the company will miss Q3 EPS expectations due to higher than expected expenses and orders that aren't better than expected. He checked with the company, which denied making comments about higher than expected expenses, and he believes today's weakness is unwarranted. Kang, who sees the company tracking to expectations with strong order activities, recommends using the weakness as a buying opportunity and reiterate his Buy rating on the stock.