4.7100 0.00 (0.00%)
After hours: 4:40PM EDT
|Bid||4.7000 x 1400|
|Ask||4.7100 x 1400|
|Day's Range||4.6301 - 4.9500|
|52 Week Range||3.2600 - 9.4800|
|Beta (3Y Monthly)||1.85|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Tim Jenks has been the CEO of NeoPhotonics Corporation (NYSE:NPTN) since 1998. This analysis aims first to contrast...
Optical networking products company stocks surged in premarket trading Tuesday, as Cisco Systems Inc.'s deal to Acacia Communications Inc. for a hefty premium provided a boost. Shares of NeoPhotonics Corp. jumped 7.0% ahead of the open, Applied Optoelectronics Inc. rallied 8.9%, Lumentum Holdings Inc. climbed 3.9%, II-VI Inc. advanced 3.3% and Finisar Corp. hiked up 2.9%. The gains bucked weakness in technology sector and the broader stock market, as futures for the technology-heavy Nasdaq 100 fell 0.3% and futures for the S&P 500 declined 0.3%. Acacia's stock rocketed 37% in premarket trading, while Cisco shares fell 1.3%.
NeoPhotonics Corp. led optical-networking stocks higher on Monday, though the shares gave back more than half of their gains in the session.
This most-searched list is a feature included in Benzinga Pro's Newsfeed tool. It highlights stocks frequently searched by Benzinga Pro users on the platform. Infrastructure and Energy Alternatives, Inc. ...
(Bloomberg) -- Huawei Technologies Co. Ltd got a much needed reprieve from some of the trade sanctions leveled against it by the U.S. when President Donald Trump said over the weekend he would ease restrictions on the Chinese tech giant.In a sign of market bullishness, shares of Huawei suppliers rallied around the globe Monday, with Taiwan’s Largan Precision surging 10% in Taipei and Taiyo Yuden rising 15% at the close in Tokyo. NeoPhotonics Corp., which gets half of its sales from Huawei according to Bloomberg supply chain data, soared as much as 21% in New York, it’s biggest intraday gain in almost a year. Micron Technology Inc. was also up. Nokia Oyj and Ericsson AB, Huawei’s major 5G gear rivals, opened lower in Europe.But constraints on Huawei’s business abound and some analysts said the optimism is overdone -- with many still trying to figure out what form the relief will take. Huawei remains squarely on the U.S. Commerce Department’s "entity list" usually reserved for rogue regimes and their associated companies. U.S. lawmakers from both parties have also reiterated pleas to not to let up on Huawei. On Sunday, White House National Economic Council Director Larry Kudlow said Trump didn’t offer a "general amnesty" to the world’s second largest smartphone maker and telecom gear titan."There were few concrete details about when Huawei can be removed from the entity list," said Jeff Pu, a Hong Kong-based analyst at GF Securities. "But investors are showing optimism without waiting for a final outcome."Pu said that Huawei would be waiting to see which U.S. companies will resume shipping and whether companies like Google and Qorvo Inc. are among them. Both Google’s Android OS and Qorvo’s radio frequency chips are key to Huawei’s smartphone business.The Trump administration hasn’t said whether it will remove Huawei from the blacklist, or indicated any specific time frame for considering such a move. Trump said U.S. companies can sell their equipment to Huawei "where there’s no great national security problem with it.” He didn’t define what he considers a national security threat or specify which companies can apply for shipment licenses.Brock Silvers, managing director at China-based fund Kaiyuan Capital, said that despite claims that only a subset of exports to Huawei will be allowed, the ramifications are significant. "This weekend’s agreement can only weaken U.S. claims regarding Huawei’s inherent security risk," he said."It’s tough to argue that Huawei’s Android handsets are a security threat," Raymond James analysts Chris Caso and Melissa Fairbanks wrote in a note on Monday. "We therefore think there’s a chance that handset components will again be permitted."Nicole Peng, an analyst with research firm Canalys, said it would be "a big win" for Huawei if Google could get a temporary license and continue its business with the company."In the meantime, for the American suppliers whose business is heavily exposed to Huawei, and a ban would benefit other non-American competitors, getting a license should also be relatively easy," Peng added.Huawei has not been able to source key components such as radio frequency chips from Qorvo and Skyworks or the latest Android operating system from Google since the Commerce Department in May blacklisted Huawei and scores of its affiliates around the globe from doing business with U.S. companies.Given such sourcing restraints, Huawei said it was preparing for a drop in international smartphone shipments of up to 60 million units this year, partially because the Trump ban would cut off Huawei’s access to an array of Google’s services from Play Store to YouTube and Gmail on Huawei handsets.One employee of an Asian supplier to Huawei, who asked not to be named because the discussions were private, said that statements from Trump and Kudlow could be just part of negotiations, and that Huawei suppliers would need to wait for more details. American companies are certainly keen to resume business with their key Chinese customers as they could suffer from being replaced by foreign competitors, that person added.Even before Trump’s Osaka announcement, a number of American suppliers including Micron and Intel Corp. had already resumed selling certain products to Huawei after concluding there are legal ways to bypass the ban.The chipmakers are taking advantage of certain exceptions to the U.S. export restrictions. If less than 25% of the technology in a chip originates in the U.S., for example, then it may not be covered by the ban, under current rules.Some in China are painting Trump’s reversal as a victory for Huawei."Trump allowing continuous supplies to Huawei is actually a forced concession, not a friendly conciliation with China," said Zhu Min, former deputy managing director of the International Monetary Fund who now serves as director of Tsinghua University’s National Institute of Financial Research.Zhu’s comment came after a tweet by Global Times Editor-in-Chief Hu Xijin, who has a track record of accurately forecasting retaliatory moves from China during the trade talks."The laws of the economics are stronger than the will of U.S. government," Hu tweeted. "U.S. tariffs can disrupt global supply chains, but cannot reshape them."(Updates shares in second paragraph. A previous version of this story corrected spelling of Taiyo Yuden in second paragraph.)To contact Bloomberg News staff for this story: Gao Yuan in Beijing at email@example.com;Debby Wu in Taipei at firstname.lastname@example.org;Yinan Zhao in Beijing at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Colum Murphy, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of Ciena Corp. rocketed 26.3% in morning trade Thursday, putting it on track for the biggest one-day gain in 18 years, after the optical networking company reported big profit and revenue beats for its fiscal second quarter. The stock's trading volume has already topped 10.6 million shares, or more than 4-times the full-day average. The last time the stock, currently the biggest gainer on the NYSE, had a bigger gain was when it closed up 26.5% on Oct. 3, 2001. The rally is also helping to boost the shares of Lumentum Holdings Inc. , up 2.7%, and NeoPhotonics Inc. , up 5.1%. Ciena accounted for 11% of Lumentum's revenue in the fiscal year ending June 2018, and 16% of NeoPhontoics's revenue in the year ended December 2018. Among Ciena's largest customers, shares of both AT&T Inc. and Verizon Communications Inc. tacked on 1.3%. Ciena derived 12.1% of its fiscal 2018 revenue from AT&T and 10.3% of its revenue from Verizon. Ciena's stock has run up 34% year to date, while the S&P 500 has gained 13%.
Investors are always looking for growth in small-cap stocks like NeoPhotonics Corporation (NYSE:NPTN), with a market...
NeoPhotonics reduced its second-quarter sales guidance from a range of $88 million to $93 million to a range of $75 million to $80 million vs. a $90.4-million consensus estimate. On May 15, the Trump administration added Huawei to a list of companies that U.S. firms can no longer trade with unless they have a license. "This action creates a material impact on NeoPhotonics and many others in the optical communications market and related industries.
on Thursday cut its second-quarter guidance amid lower revenue expectations resulting from the U.S. ban on business with Huawei Technologies, the Chinese telecom giant. NeoPhotonics said it now expects an adjusted per-share loss of between 5 cents and 15 cents, and revenue of between $75 million and $80 million vs. previous guidance of a per-share loss of between 4 cents and 6 cents and revenue of between $88 million and $93 million. The U.S. Bureau of Industry and Security, part of the U.S. Commerce Department, earlier this month placed Huawei and dozens of its affiliates on an "Entity List" that greatly restricts its ability to buy components from U.S. companies.
Shares of NeoPhotonics Corp. rose 1.5% in premarket trade Thursday, after the optical components maker revised its second-quarter guidance lower as a result of the U.S. ban on business with China's telecom giant Huawei Technologies. NeoPhotonics now expects an adjusted loss per share of 15 cents to 5 cents, revenue of $75 million to $80 million and adjusted gross margin of 22% to 26%, versus previous guidance of and adjusted per-share loss of 6 cents to a profit of 4 cents, revenue of $88 million to $93 million and adjusted gross margin of 25% to 29%. The FactSet consensus was for a per-share loss of 3 cents and revenue of $87.8 million. "This action creates a material impact on NeoPhotonics and many others in the optical communications market and related industries," said Chief Executive Tim Jenks. "We are fully complying with the restrictions and have ceased shipments of products subject to [U.S. Export Administration Regulations]." The stock has tumbled 48.8% over the past three months through Wednesday, while the S&P 500 has gained 2.3%.
Understanding the Impact of Trump’s Huawei Ban on US StocksHuawei banLast week, Donald Trump blacklisted Chinese telecom giant Huawei Technologies amid rising US-China trade tensions, restricting US companies’ transfer or supply of any
Stocks of companies doing significant business with Huawei fell Monday. Shares are falling in reaction to Trump administration efforts to prevent companies from doing business with the Chinese telecom giant.
Shares of optoelectronics company NeoPhotonics Corp. were up more than 10% in Monday trading after B. Riley analyst Dave Kang upgraded the stock to buy from neutral, arguing that the uncertainty over a U.S. ban on sales to Huawei Technologies Co. has been "de-risked." Shares dropped more than 30% last week after the ban was announced. "One of the reasons for our renewed bullishness is that we believe the Huawei ban could be another leverage point for President Trump, who is set to meet with China's President Xi at the G20 Summit in late June, and as such, we believe the ban could be fairly brief," Kang wrote. "Furthermore, we believe the Huawei ban will pressure NeoPhotonics management to weigh strategic options, including the potential sale of the company." The upgrade comes as fellow optoelectronics company Lumentum Holdings Inc. lowered its outlook as a result of the Huawei ban and as companies like Alphabet Inc.'s Google began to comply with the order. NeoPhotonics shares are still off 35% on the year, as the S&P 500 has risen 14%.
Semiconductor makers and optical component suppliers were among the biggest decliners on Friday. NeoPhotonics Corp., whose products help transmit data in telecom networks, fell as much as 28%, following a 21% decline on Thursday.
The Trump administration putting Huawei -- and dozens of its affiliates -- on an export blacklist means “the U.S. government has halted China’s 5G push,” and is transforming the trade war “into a digital one,” Sean Darby, Jefferies’s chief global equity strategist, wrote in a note. The move may have ramifications well beyond the tech sector as well, analysts at MKM wrote.
plunged nearly 25% on Friday after the optical communications equipment maker received a downgrade from an analyst at MKM Partners, who cited increased uncertainty relative to the company's largest customer, Huawei. NeoPhotonics stock was down 24.67% to $3.42 on the Nasdaq Stock Market after MKM Partners analyst Michael Genovese cut his rating on the company to neutral from buy and slashed his price target in half - to $4.50 from $9 - noting that Huawei accounted for almost half of NeoPhotonics' sales in 2018.