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FNSR

Finisar

$25.64

0.38 (1.50%)

, HOS

Hornbeck Offshore

$1.97

0.11 (5.91%)

17:32
06/15/17
06/15
17:32
06/15/17
17:32

On The Fly: After Hours Movers

UP AFTER EARNINGS: Finisar (FNSR), up 8.4%. ALSO HIGHER: Hornbeck Offshore (HOS), up 15.2% after it refinanced its existing $200M senior secured revolving credit facility with a new first-lien delayed-draw credit facility providing for up to $300M of term loans... Lumentum (LITE) and Oclaro (OCLR), up 1.1% and 2%, respectively, after rival Finisar reported quarterly results. LOWER: Booz Allen (BAH), down 14.3% after it disclosed that the U.S. Department of Justice was conducting a civil and criminal investigation into the company relating to "certain elements of the company's cost accounting and indirect cost charging practices with the U.S. government."

FNSR

Finisar

$25.64

0.38 (1.50%)

HOS

Hornbeck Offshore

$1.97

0.11 (5.91%)

LITE

Lumentum

$61.55

-0.6 (-0.97%)

OCLR

Oclaro

$9.54

-0.19 (-1.95%)

BAH

Booz Allen

$39.33

-0.2 (-0.51%)

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    Jun

FNSR Finisar
$25.64

0.38 (1.50%)

06/13/17
PIPR
06/13/17
NO CHANGE
Target $32
PIPR
Overweight
Finisar shares already pricing in China weakness, says Piper Jaffray
Piper Jaffray analyst Troy Jensen expects Finisar's April quarter results and guidance on Thursday to come in below consensus due to sustained weakness in China. This should not come as a surprise to investors, Jensen tells investors in a pre-earnings research note. He believes China weakness is already factored into the current stock price and that potential commentary regarding 3D sensing demand could "propel the stock higher." Jensen lowered his price target for Finisar shares to $32 from $35 and reiterates an Overweight rating on the name.
06/08/17
RSBL
06/08/17
NO CHANGE
RSBL
Finisar could see impact from Huawei price cuts, says Rosenblatt
Rosenblatt thinks there was a CFP2 price cut of more than 20% at Huawei, which would largely impact Finisar (FNSR) with share declines of 10%-25%. The firm's analyst also said Lumentum (LITE) could win more market shares with an aggressive pricing strategy and will likely see a smaller impact.
06/12/17
JEFF
06/12/17
NO CHANGE
Target $34
JEFF
Buy
Finisar line card still not qualified at Verizon, says Jefferies
Jefferies analyst James Kisner says he's a buyer of Finisar (FNSR) ahead of the company's Q4 results after his channel checks suggested "very strong demand" for Datacom optics. His checks, however, also indicated that Finisar still isn't qualified at Verizon (VZ) for its ROADM line card. The analyst lowered his July quarter earnings per share estimate to 52c, below the consensus of 59c, to reflect "clear public datapoints" suggesting no recovery of China near-term and no benefits in the quarter from ROADM at Verizon. Nonetheless, Kisner believes Finisar's guidance could be better than feared and he sees low expectations into the print. The analyst keeps a Buy rating on Finisar with a $34 price target.
06/12/17
CHLM
06/12/17
NO CHANGE
Target $38
CHLM
Buy
Finisar near-term estimates lowered due to China exposure at Craig-Hallum
Craig-Hallum analyst Richard Shannon lowered his estimates for the next two quarters to be reported by Finisar to account for weakness in China, but he also believes this weakness has already been factored into the stock. He still sees Finisar's risk/reward as favorable at current levels, given the stock has the "cheapest" valuation in the optical space and the fact that he feels "highly confident" that 3D sensing is coming to the mobile market in the second half in a "material" way. Shannon keeps a Buy rating and $38 price target on Finisar.
HOS Hornbeck Offshore
$1.97

0.11 (5.91%)

08/05/16
IBER
08/05/16
DOWNGRADE
IBER
Underperform
Hornbeck Offshore downgraded to Underperform from Sector Perform at Iberia
LITE Lumentum
$61.55

-0.6 (-0.97%)

06/12/17
RAJA
06/12/17
NO CHANGE
Target $70
RAJA
Strong Buy
Lumentum price target raised to $70 from $59 at Raymond James
Raymond James analyst Simon Leopold raised Lumentum's price target to $70 and maintained a Strong Buy rating based on better contributions increased confidence in its position with the majority share of VCSELs into the next iPhone, and now sees the value per phone near $4.50, up from our prior $2.50, and feels better about the prospects for a longer tail to the spending.
06/12/17
NEED
06/12/17
NO CHANGE
Target $80
NEED
Strong Buy
Lumentum price target raised to $80 from $56 at Needham
Needham analyst Alexander Henderson raised his price target on Lumentum to $80 from $56, stating that his conversations with management suggest the ramp in 3D Sensing is now visible and that Lumentum's share could be larger than previously expected and with better yields than previously forecast. Henderson keeps a Strong Buy rating on Lumentum shares.
05/23/17
RSBL
05/23/17
INITIATION
Target $66
RSBL
Buy
Lumentum initiated with a Buy at Rosenblatt
Rosenblatt analyst Jun Zhang initiated Lumentum with a Buy and a $66 price target telling investors the company will benefit from a demand recovery in China, 3D sensing demand, and datacom strength.
OCLR Oclaro
$9.54

-0.19 (-1.95%)

06/12/17
NEED
06/12/17
NO CHANGE
Target $14
NEED
Strong Buy
Oclaro tone sounded 'more cautious' at recent meeting, says Needham
Needham analyst Alex Henderson keeps a Strong Buy rating and $14 price target on Oclaro after hosting a recent meeting with the company's management, though he notes that the company's leaders sounded "modestly more cautious" on the outlook for China. Oclaro reiterated it believes China will be flat to down sequentially throughout 2017 and also is stating China could be flat to down in 2018, according to Henderson, who added that Oclaro sounded more cautious than the other optical space players.
05/17/17
RSBL
05/17/17
INITIATION
Target $12
RSBL
Buy
Oclaro initiated with a Buy at Rosenblatt
Rosenblatt analyst Jun Zhang started Oclaro earlier with a Buy rating and $12 price target.
05/22/17
JEFF
05/22/17
NO CHANGE
JEFF
Buy
China Mobile build-out good news for Oclaro, says Jefferies
Jefferies analyst James Kisner points out that China Mobile last night selected vendors for the build-out of its Packet Transport Network, with 70% going to ZTE and the balance to Huawei. The news is particularly good for Oclaro (OCLR), which has significant exposure to ZTE, Kisner tells investors in a research note. It also bodes well for a recovery of telecom and networking equipment demand in China, which is positive for Finisar (FNSR) and Lumentum (LITE), the analyst adds. Kisner has Buy ratings on all three stocks.
05/22/17
RSBL
05/22/17
NO CHANGE
RSBL
China Telecom has begun work on Metro upgrade plan, says Rosenblatt
Rosenblatt Securities said China Telecom (CHA) has begun work on its Metro upgrade plan and the firm believes it will release tenders for both provincial and Metro in the timeframe of September to October. Companies in the optical equipment space that could benefit from China's upgrade cycle include Oclaro (OCRL), Finisar (FNSR), Lumentum (LITE), NeoPhotonics (NPTN), Acacia Communications (ACIA) and Viavi (VIAV).
BAH Booz Allen
$39.33

-0.2 (-0.51%)

05/01/17
05/01/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Booz Allen (BAH), L3 Technologies (LLL), and Harris (HRS) downgraded to Equal Weight from Overweight at Barclays. 2. Synchrony (SYF) downgraded to Neutral from Conviction Buy at Goldman Sachs and to Equal Weight from Overweight at Stephens. 3. Regions Financial (RF) downgraded to Neutral from Outperform at Wedbush with analyst Peter Winter saying a number of the company's businesses are generating lower than expected revenue, while the bank could be hurt by pressure on Treasury yields. 4. Thomson Reuters (TRI) downgraded to Hold from Buy at Canaccord with analyst Aravinda Galappatthige citing valuation and maintained a $47 price target. 5. FirstEnergy (FE) downgraded to In Line from Outperform at Evercore ISI and to Neutral from Overweight at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/01/17
LEHM
05/01/17
DOWNGRADE
Target $175
LEHM
Equal Weight
L3 Technologies downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Carter Copeland downgraded L3 Technologies (LLL) to reflect a more neutral stance of Defense names. The stock is near the analyst's post-election, upwardly revised price target. Copeland believes defense stocks exited Q1 with "little prospect for upside while industrials look to accelerating upside." The analyst keeps a $175 price target for L3 shares. Copeland this morning also downgraded Harris (HRS) and Booz Allen (BAH) to Equal Weight.
05/01/17
LEHM
05/01/17
DOWNGRADE
Target $38
LEHM
Equal Weight
Booz Allen downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Carter Copeland downgraded Booz Allen to reflect a more neutral stance of Defense names. The stock is near the analyst's post-election, upwardly revised price target. Copeland believes defense stocks exited Q1 with "little prospect for upside while industrials look to accelerating upside." The analyst keeps a $38 price target for Booz Allen shares.
04/05/17
04/05/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Burlington Stores (BURL) initiated with an Outperform at William Blair. 2. Booz Allen (BAH) was initiated with an In Line while CSRA (CSRA) was initiated with an Outperform at Evercore ISI. 3. Guidance Software (GUID) initiated with an Overweight at Piper Jaffray. 4. Acacia Communications (ACIA) initiated with a Neutral at B. Riley. 5. Keysight Technologies (KEYS) initiated with a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

RGA

Reinsurance Group

$126.86

-0.36 (-0.28%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Reinsurance Group management to meet with JPMorgan »

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03/06/13
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  • 28

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SRCL

Stericycle

$77.24

-1.01 (-1.29%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Stericycle management to meet with Barrington »

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THO

Thor Industries

$107.33

-1.47 (-1.35%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Thor Industries management to meet with Cancaccord »

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IDCC

InterDigital

$79.80

-0.65 (-0.81%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
InterDigital management to meet with Sidoti »

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  • 28

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NP

Neenah Paper

$77.80

-1.6 (-2.02%)

04:55
06/28/17
06/28
04:55
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04:55
Conference/Events
Neenah Paper management to meet with Sidoti »

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  • 28

    Jun

AGCO

AGCO

$66.47

-0.67 (-1.00%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
AGCO management to meet with William Blair »

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  • 28

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04:55
06/28/17
06/28
04:55
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04:55
General news
Pending Home Sales Index to be reported at 10:00 »

May Pending Home Sales…

PRTS

U.S. Auto Parts

$3.23

-0.02 (-0.62%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
U.S. Auto Parts management to meet with Roth Capital »

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  • 28

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04:55
06/28/17
06/28
04:55
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04:55
Conference/Events
JPMorgan life sciences analyst holds an analyst/industry conference call »

Life Science Tools &…

STE

STERIS

$81.47

-1.64 (-1.97%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
STERIS management to meet with Sidoti »

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  • 28

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VTR

Ventas

$71.17

-0.76 (-1.06%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Ventas management to meet with Raymond James »

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  • 28

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SMTC

Semtech

$34.85

-0.6 (-1.69%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Semtech management to meet with Oppenheimer »

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  • 28

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IVZ

Invesco

$34.77

-0.24 (-0.69%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Invesco management to meet with Jefferies »

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  • 28

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    Jun

DHXM

DHX Media

$4.30

0.15 (3.61%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
DHX Media management to meet with Jefferies »

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  • 28

    Jun

04:55
06/28/17
06/28
04:55
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04:55
General news
International Trade in Goods Balance to be reported at 08:30 »

May International Trade…

PODD

Insulet

$49.00

-1.22 (-2.43%)

04:55
06/28/17
06/28
04:55
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04:55
Conference/Events
Insulet participates in a conference call with Leerink »

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  • 28

    Jun

NFG

National Fuel

$55.85

-0.45 (-0.80%)

04:55
06/28/17
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04:55
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National Fuel management to meet with Jefferies »

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  • 28

    Jun

OXY

Occidental Petroleum

$59.63

-0.38 (-0.63%)

04:55
06/28/17
06/28
04:55
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Occidental Petroleum management to meet with Evercore ISI »

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  • 28

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04:55
06/28/17
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General news
Breaking General news story  »

Week of 6/23 EIA…

NBIX

Neurocrine

$45.56

-1.75 (-3.70%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Neurocrine management to meet with Oppenheimer »

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LPI

Laredo Petroleum

$10.03

0.24 (2.45%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Laredo Petroleum management to meet with Piper Jaffray »

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  • 28

    Jun

MPWR

Monolithic Power

$96.84

-2.67 (-2.68%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Monolithic Power management to meet with Oppeneimer »

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  • 28

    Jun

TRS

TriMas

$20.60

-0.1 (-0.48%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
TriMas management to meet with Barrington »

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03/08/13
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03/06/13
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03/06/13
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  • 28

    Jun

ORCL

Oracle

$50.75

-0.11 (-0.22%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Oracle management to meet with Evercore ISI »

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03/08/13
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03/06/13
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  • 28

    Jun

UNFI

United Natural Foods

$34.95

-0.08 (-0.23%)

04:55
06/28/17
06/28
04:55
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04:55
Conference/Events
United Natural Foods management to meet with Oppenheimer »

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03/08/13
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  • 28

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    Jul

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