Finisar, the optical component maker, shares got whacked this past Friday after it reported earnings and provided guidance the prior day that came in below Street expectations. Finisar reported FQ3 earnings of $0.59 per share versus Street consensus of $0.62 per share. For the current quarter (FQ4;17), the company said earnings would range between $0.50-$0.56 per share on revenues between $360 million and $380 million. Shares of Finisar closed down 23% to $26.98 per share in trading this past Friday on 31.1 million shares versus its three-month average trading volume of 3.29 million shares. The sellside remained bullish on shares of Finisar and other optical component makers stating that the issues with Finisar were company specific and not systemic to the entire optical component space.

Source: Forbes March 12, 2017 18:18 UTC