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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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From: Kayaker	3/9/2011 12:53:03 AM
	of 119362

Finisar's Grim View of Chinese Demand Roils Stock Finisar warns of slowing demand in China for optical gear used by telecoms; stock plummets The Associated Press SAN FRANCISCO March 8, 2011 (AP) Finisar Corp.'s shares lost more than a third of their value Tuesday after the maker of optical equipment used in high-speed data communications warned of a litany of factors that are hurting its business, particularly slowing demand in China. The commentary alarmed investors because it suggests that China's aggressive rollout of new telecommunications networks is slowing. That deeply damaged other, related stocks. Finisar executives said what it is seeing is an industrywide problem. The penalty for Finisar's worse-than-expected outlook was so severe, in part, because its explanation for what went wrong was so pointed.... ....Finisar executives said on a conference call with analysts that the slowdown is part of an "industrywide phenomenon." They said they've seen the dramatic reduction in orders in China for a couple of months and weren't sure when it would ease. They emphasized that the weakness was with multiple customers in China, and that Finisar isn't losing market share.... abcnews.go.com

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