JDS Uniphase (NASDAQ:JDSU) has a stellar first quarter, soaring 44 percent during that time, but that was then and this is now, and in the first day of the second quarter the share price is getting crunched after the company announced again there will be a delay in anticipated networking upgrade spending.
Shares plummeted over 8 percent on the news for most of the trading day.
Stifel Nicolaus noted, “we would see any weakness in the stock as an opportunity for long-term investors to build positions.”
That was after Stifel lowered their fully year 2011 earnings estimate on the company, while raising its full year 2012 EPS.
The company said they believe the sector will “gather momentum over the next several quarters.”
JDS was trading at $19.22, falling $1.62, or 7.77 percent, as of 1:34 PM EDT. Stifel Nicolaus reiterated its "Buy" rating on JDS.
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