JDS Uniphase Jumps as it Says Business Is Stabilizing
Updated from 8:36 a.m. EDT
JDS Uniphase
(JDSU)
was up 13.6% in midmorning trading after saying its sales were stabilizing and its first-quarter revenue will be about $325 million.
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Analysts are expecting the network equipment company to post a loss of 3 cents a share for the first quarter, on revenue of $357.4 million, according to Thomson Financial/First Call.
The company said forecasting remains difficult in the current economic climate, but it sees "early signs of stabilization" in its business.
Other network equipment stocks were also rising, including Cisco (CSCO) - Get Cisco Systems Inc. Report, up 6.2%, Juniper (JNPR) - Get Juniper Networks Inc. Report, up 6.9%, and Ciena (CIEN) - Get Ciena Corporation Report, up 5.5%.
