Sep 18, 2013

Posted by in Stock Market News | 0 Comments

Stocks in the Spotlight: General Electric Co. (NYSE:GE) and Alliance Fiber Optic Products Inc. (NASDAQ:AFOP)

Alliance Fiber Optic Products Inc. (NASDAQ:AFOP) predicts third-quarter sales to top its former outlook, courtesy to better than predicted customer orders.

Shares were higher 14% to $23.15 in the latest after-hours session. Through the end, the stock has rallied since the beginning of the year and increased 72% in the last three months.

The firm, which makes high-performance fiber-optic parts and integrated modules used by communications-equipment manufacturers, now hopes net sales of more than $22 million, exceeding its former outlook from its second-quarter conference call in July for revenue between $19.5 million and $20.5 million.

General Electric Co. (NYSE:GE) predicts to report a third-quarter charge of two cents per share, associated to its latest $4.3 billion takeover of engine maker Avio SpA’s aviation business.

The US conglomerate reported that the charges consist of the impact of efficiently ending the contractual association between Italy-based Avio and GE, which before the purchase showed above half of Avio’s aviation sector revenue.

Avio provided parts to GE Aviation since 1984. Shares were lower by a penny at $24.44 in the recent premarket session.

GE in July reported that the global economy crept higher a bit in the second quarter, assisting to flourish profit growth at most of its industrial units.

 

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