Finisar Tumbles After Being Downgraded & Nikkei Slips From 32-Month High -- Finspreads
(firmenpresse) - LONDON -- (Marketwire) -- 01/21/13 -- : Shares in the optical module maker Finisar Corp tumbled at the close of trading on Friday (January 18th), after it was downgraded by investment bank Jefferies and Co, who said that demand for the company's optical communication components are set to suffer from the imminent release of products from Intel and Cisco. Intel announced that silicon-phonotics technology for data centres was to become available in the near future, a move which some analysts believe will have a negative impact on Finisar.
Intel's willingness to integrate silicon phonotics could prove popular with many businesses, as it will reportedly allow much higher data transfers between processors and devices than with traditional technology manufactured by Finisar, meaning less hardware would be required; reducing building and operation costs.
Jefferies and Co has subsequently downgraded Finisar's stock from 'hold' to 'underperform,' halving its price target to $7.50.
At the close of trading on the Nasdaq, Finisar saw its shares fall to $13.98, a drop of 10.27 per cent.
Shares in Japan fell at the close of trading today (January 21st), with the Nikkei 225 slipping from a 32-month high.
The drop comes after the yen climbed against the dollar after hitting its lowest level in two-and-a-half years, with a policy decision expected from the Bank of Japan tomorrow.
A rising yen has hit some of the country's biggest exporters. Nissan Motor Co, whose biggest market is North America, dropped 1.5 per cent. Fanuc Corp slipped 3.9 per cent after its rating was cut at Citigroup Inc.
The decision of Apple to reduce orders of screens for its iPad has dealt another blow to suppliers such as Sharp, who saw its shares fall by 3.8 per cent.
Learn about the markets and find .
Finspreads pioneered browser-based in 1999 by being the first provider in the industry to offer real time spread betting access via a browser.
Your losses are magnified in exactly the same way as your gains if the market moves against you and can result in losses exceeding your initial outlay. Please ensure you fully understand the risks involved.
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 21.01.2013 - 07:50 Uhr
Sprache: Deutsch
News-ID 1188843
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
LONDON
Phone:
Kategorie:
Education Aids and Products
Anmerkungen:
Diese Pressemitteilung wurde bisher 173 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Finisar Tumbles After Being Downgraded & Nikkei Slips From 32-Month High -- Finspreads
"
steht unter der journalistisch-redaktionellen Verantwortung von
Finspreads (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
