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Why Fabrinet Stock Jumped on Tuesday

·2 min read

The maker of optical and electro-mechanical components saw its stock rise after the company reported stronger-than-expected fiscal fourth-quarter results. Helping drive even more optimism, Fabrinet provided strong guidance for the current quarter and approved an expansion to its share repurchase program. On Monday evening, Fabrinet reported revenue of about $588 million for the quarter, up from $510 million in the year-ago period.