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Finisar's Down Day

1:15 PM -- Finisar has choked for the second quarter in a row, having pre-announced weak earnings yesterday for its October quarter. (See Finisar Adjusts Forecast.) The full earnings report will come out in December.

No time to do a full update, but you'll recall Finisar got troubled by "turbulence" -- their word -- in the July quarter, too. (See Finisar Falls on Q1 'Turbulence'.) This time, the company got more specific, putting some of the blame on flattened 10- and 40-Gbit/s sales.

Analyst John Harmon of Needham describes the problems as "one-time items" and says "nothing has fundamentally changed the story."

Predictably, Finisar's stock is getting punished today, down 29 cents (12.6%) at $2.01.

— Craig Matsumoto, West Coast Editor, Light Reading

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