Jun 21, 2013

Posted by in Featured, Stock Market News | 0 Comments

Investors Pick: Clearwire (NASDAQ:CLWR) and Finisar (NASDAQ:FNSR)

Investors Pick: Clearwire (NASDAQ:CLWR) and Finisar (NASDAQ:FNSR)

Finisar (NASDAQ:FNSR), a major supplier of components for fiber optic networks, witnessed its shares hike up nearly 11% Thursday, on higher than predicted fiscal fourth-quarter news.

The Sunnyvale, Calif.-located firm late Wednesday reported that it gained 20 cents per share, omitting items, on sales of $243.4 million.

Experts surveyed by Thomson Reuters predicted 17 cents and $242.6 million. On a year-over-year basis, Finisar’s EPS declined almost 5% and sales jumped up 1.5%.

After eight quarters in a row of slumping year-over-year EPS, Finisar (FNSR) is seen moving to EPS growth this quarter and year.

Experts estimated Finisar’s EPS would increase 92% in the fiscal first quarter, 67% in the second quarter, 59% in the third and 30% in the fourth quarter.

For the year, Wall Street is expecting Finisar to earn $1 per share, minus items, higher 56%, on sales of $1.05 billion, higher 12%.

Sprint has sweetened its offer for Clearwire (NASDAQ:CLWR) once again, eliminating a bid from opponent Dish Networks. Sprint, which offered $3.40 per share for Clearwire back in May, lifted that takeover offer to $5 on Thursday afternoon.

The bid, which exceeds Dish’s offer of $4.40 per share by 14 percent, prices the broadband wireless company at $14 billion.

Comments are closed.