Finisar, Ciena stocks fall on Morgan Stanley downgrades [MarketWatch]
FINISAR (FNSR)
Last finisar earnings: 9/4 04:01 pm
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Source: MarketWatch
Finisar, Ciena stocks fall on Morgan Stanley downgrades Shares of Finisar Corp. FNSR, -1.42% and Ciena Corp. CIEN, -0.88% are down 4.2% and 2.8%, respectively, in premarket trading Thursday after Morgan Stanley analyst Meta Marshall downgraded the stocks to equal-weight from overweight. "Finisar and Ciena have closed the short-term valuation gaps that we believed existed," Marshall wrote. "While we think both stocks could continue to move toward our bull cases, we think those catalysts for further positive moves are in CY19, causing us to move to the sidelines for now." Marshall thinks that Finisar will need to first get its Sherman facility certified and turn its new data-communications product into a meaningful revenue driver in order for Morgan Stanley to have more confidence in the company's earnings power. Finisar shares are down 10.5% over the past 12 months, while Ciena shares are up 44%. The S&P 500 SPX, +0.53% is up 16% in that time. Have breaking news sent to your
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