Finisar’s weaker-than-expected forecast is creating some mighty nasty waves in the previously scorching hot optical networking sector and rippling out to singe bigger networking stocks, too.
As Matt wrote earlier, Finisar’s bad news is slamming high-flyer JDS Uniphase. Finisar is down a whopping 35% on heavy volume while JDSU (Just Do Sell Us?) is skidding more than 12%. Finisar is now down about 13% year-to-date while JDSU is still boasting a 52% gain since the start of the year.
Radiating outward, the carnage is nasty for Oclaro and Oplink Communications. Oclaro is down about 17%, though still up about 5% this year. Oplink is sliding more than 16% and is still up about 16% year-to-date.