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JDS Uniphase Shares May Rise on Technology, Business Week Says
San Jose, California, Nov. 4 (Bloomberg) -- JDS Uniphase Corp. shares may continue to rise on the strength of the fiber- optic equipment-parts maker's technology, Business Week reported, citing McKinley Capital Management Inc. Chief Investment Officer Robert Gillam. Sales more than doubled in its first quarter ended Sept. 30 to $230 million, and profit before acquisition costs rose to 29 cents, beating estimates. ''In terms of technology, it really has a tailwind behind it,'' Gillam told Business Week.
JDS Uniphase today agreed to buy one of its suppliers, Optical Coating Laboratory Inc., for about $2.83 billion in stock, and shares closed at 191 7/8, after touching a record 204 1/8 earlier.
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