Today's Research Reports on Stocks to Watch: Sonus Networks and Finisar Corporation
NEW YORK, NY / ACCESSWIRE / October 31, 2017 / Finisar Corporation saw some nice gains on Monday despite any catalyst. Shares of Sonus also headed higher after releasing its Q3 earnings report and announcing the completion of its merger with GENBAND.
RDI Initiates Coverage on:
Sonus Networks, Inc.
https://rdinvesting.com/news/?ticker=SONS
Finisar Corporation
https://rdinvesting.com/news/?ticker=FNSR
Sonus Networks, Inc. shares closed up 3.07% on Monday and hit a new high of $9.05 during intra-day trading. Several positive developments were catalysts to driving share prices higher including the company announcing its third-quarter financial report. The company reported net income of $3.5 million and a profit of 7 cents per share. Adjusted EPS was 26 cents per share, three cents higher than what Wall Street was expecting. Revenue of $74.6 million was also higher than the $73.3 million that analysts were waiting for. Looking ahead, the maker of technology for telephone services over internet networks has forecast full-year earnings of 22 cents a share on revenue of $252.6 million. The company also announced the completion of its merger with GENBAND. Each has become a wholly owned subsidiary of a parent company that has been renamed Sonus Networks, Inc. Also starting today, Sonus has started conducting business as Ribbon Communications. CEO Ray Dolan commented, "Today is a tremendous day as we bring together two companies that have been at the forefront of real-time communications into a single, unified entity focused on serving our customers and moving the industry forward." Shares of the stock have climbed almost 30% this year so far.
Access RDI's Sonus Networks, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SONS
Finisar Corporation shares were flying high on Monday, closing the day up 6.69% on slightly higher trading volume compared to usual. There was no remarkable news from the company however, it was revealed last week that an MEMC building was recently acquired by the company for $20 million through a New York court. MEMC is now known as SunEdison since 2009. It had planned to close the Sherman facility in 2011 but according to SEDCO Executive Vice President Frank Gadek, it was sold to Finisar, the international fiber-optic related corporation headquartered in Sunnyvale, CA.
Access RDI's Finisar Corporation Research Report at:
https://rdinvesting.com/news/?ticker=FNSR
Our Actionable Research on Sonus Networks, Inc. (NASDAQ: SONS) and Finisar Corporation (NASDAQ: FNSR) can be downloaded free of charge at Research Driven Investing.
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