Finisar, Oclaro, FTD Stocks Moving Today

Three stocks making big moves on the charts today are Finisar, Oclaro, and FTD

Mar 15, 2017 at 2:48 PM
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The Dow is trading higher, as the market reacts to the Fed's quarter-point interest rate hike. Among specific stocks in focus are optical solutions specialists Finisar Corporation (NASDAQ:FNSR) and Oclaro, Inc. (NASDAQ:OCLR), as well as flower delivery firm FTD Companies Inc (NASDAQ:FTD). Here's a quick look at what's moving shares of FNSR, OCLR, and FTD.

Jefferies Says to Buy Finisar Stock

Jefferies raised its rating on FNSR to "buy" from "hold" and boosted its price target to $34 from $32, saying strong longer-term demand out of China should overshadow the company's weak fiscal third-quarter earnings report. Initially, FSNR stock sold off in the wake of its March 9 quarterly results, but appears to have found a foothold in the $26.00-$26.50 region -- home to a 50% Fibonacci retracement of its May-through-December surge, as well as its rising 200-day moving average. At last check, Finisar shares were up 3.2% at $26.50. Considering Finisar Corporation's 14-day Relative Strength Index (RSI) of 27.3 is still docked in oversold territory, a bigger bounce could be in FNSR's future.

Ocular Stock Pops as Takeover Chatter Swirls

OCLR stock has struggled along with its sector peer, but today, the shares are up 8.4% at $8.78. Ocular shares are getting a boost after Jefferies waxed optimistic over the possibility of a Finisar takeover, saying the marriage could boost FNSR's research and development capabilities, and improve its presence in the "long haul telecom optics/discretes space." Today's pop has the stock widening a lead over its 180-day moving average, which recently emerged as support, and brings its year-over-year gain north of 104%. A continued rise could shake some of the weaker bearish hands loose. Specifically, short interest on Oclaro, Inc. rose 20% in the most recent reporting period, and now accounts for more than 16% of the stock's available float.

Earnings, Price-Target Cuts Smack FTD Stock

FTD stock is the worst performer on the Nasdaq today, down 20.7% to trade at $18.56 -- their lowest point since early November -- and on the short-sale restricted list. Weighing on the shares is FTD Companies Inc's lower-than-expected fourth-quarter revenue, as well as news the firm will revise several financial statements -- including those for 2014 and 2015 -- due to "immaterial errors." Adding to the bearish bias are price-target cuts to $20 from both B. Riley and Craig-Hallum, with the latter citing "continued revenue headwinds." There's plenty of room for the stock to receive more bearish brokerage attention. Currently, only three analysts cover FTD shares, with two issuing a lackluster "hold" and one maintaining a "strong buy" rating. Plus, the average 12-month price target of $21 stands at a healthy 13% premium to FTD stock's current price.

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