what do you think of JDSU, coming back, but...??
JDS, which is headquartered both in Ottawa and San Jose, California, last week posted third-quarter revenues of $920 million and cut its fourth-quarter, or June, sales estimates from $925 million to $700 million. Revenues may remain at that level for two quarters, Veerappan said.
``But the fact that we're going to stay at a particular level and not go down is the first sign of a positive,'' he said.
``I think we're going to be in a volatile type of trading environment for the next six months, but I believe that we're going to keep making higher lows.''
JDS, which will make corporate presentations to brokerage conferences this week and next, said it was not releasing any news on Monday and was uncertain why its stock was up.
``There's nothing specific to the optical components space that would be new news that would be driving it,'' said Solomon Smith Barney analyst Tim Anderson.
``Keeping in mind that visibility is extraordinarily low, we think that the stock, from a fundamental perspective, should start to see conditions bottom, if you will, likely coming out of the September time frame.'' |
