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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Optical network equipment maker Finisar (Nasdaq: FNSR ) shares jumped 17% after the company reported earnings that beat estimates.
So what: Revenue took a big step forward, increasing 65% to $240.9 million as demand for LAN/SAN and metro/telecom products was strong. Adjusted earnings of $0.44 easily cruised past Wall Street's expectation of $0.38.
Now what: This is a huge turnaround from a loss of $0.49 per share a year ago, and it looks like the future will be even brighter. Management expects earnings of $0.45-$0.47 per share in the fiscal third quarter, crushing Wall Street estimates of $0.41. Analysts look to be behind the growth story, one of my favorite buy signs, and I think this stock has room to move higher considering the growth and profitability we saw this quarter.
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