Earnings, Revenue Beat the Street
Finisar earned $0.20 a share in its fourth quarter on revenue of $243.4 million. Analysts had only expected $0.17 and $242.6 million, respectively. Guidance was also strong, and FNSR is up 9 percent before the opening bell on my tradeMONSTER platform. (There was bullish call buying last week.)
Ebix Craters as Goldman Walks Away
Ebix agreed to be acquired by an affiliate of Goldman Sachs on May 1, but now the deal is getting abandoned after the United States Attorney's office opened an investigation of the target company. No termination fee will be paid. EBIX tanks 39 percent on the news.
Solta Medical Higher on FDA Nod
Solta Medical announced that the U.S. Food & Drug Administration approved its Fraxel Dual laser system for the treatment of skin splotches. The device can be used on conditions such as age spots, sun spots and freckles. SLTM climbs 15 percent on the news.
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