Finisar Jumps 18.3% on Acquisition Announcements and Raised Estimates
Fiber-optic systems company
Finisar
(FNSR) - Get Finisar Corporation Report
was up 18.3% at midday, continuing a sharp run-up that began after it announced several acquisitions Tuesday. The company late Tuesday also reported second-quarter earnings of 4 cents a share, beating the Street's estimate of 3 cents, and up from 1 cent a year ago.
Wit SoundView
today raised earnings estimates for the year 2000 to 18 cents from 13 cents and for 2001 to 32 cents from 19 cents. Other optical stocks were lower.
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