II-VI, Fabrinet stocks falls after B. Riley downgrades to neutral [MarketWatch]
Coherent Corp. 6.00% Series A Mandatory Convertible Preferred Stock (IIVI)
Last coherent corp. 6.00% series a mandatory convertible preferred stock earnings: 2/10 04:05 pm
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Source: MarketWatch
II-VI, Fabrinet stocks falls after B. Riley downgrades to neutral Shares of optoelectronics company II-VI Inc. IIVI, -3.62% are down 2.4% in Tuesday morning trading after B. Riley analyst Dave Kang downgraded the stock to neutral from buy. " While demand for optical pumps remains solid, demand for other products including passives has become choppy, including from Huawei," he wrote. "Additionally, the US tariffs could negatively impact the company's laser segment in addition to its optical segment." He expects that laser demand will fall if U.S. tariffs go into effect. II-VI shares have gained 25% in the past month, while the S&P 500 SPX, -0.19% has gained 1.9%. B. Riley also downgraded shares of Fabrinet to neutral from buy, writing that the company could benefit from an optical shift if the tariffs are implemented but that such transitions take time. "In the meantime, the implementation of tariffs may cause service providers to delay their projects, resulting in weaker demand
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