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Financial

New Focus Gets Gilder Boost

Shares of New Focus Inc. (Nasdaq: NUFO) continued to surge today (Wednesday) after the stock was proclaimed a “pick of the month” in the Gilder Report, pundit George Gilder’s technology newsletter.

New Focus, well off its earlier high of around $165, rose $6.34 to $39.06, in midafternoon trading. Yesterday, when the newsletter was released to the public, the stock rallied roughly 40 percent, fueled by a combination of the Gilder recommendation and the Nasdaq's biggest one-day rally in history.

Avanex Corp. (Nasdaq: AVNX), a previous Gilder pick, was also on the move today, climbing $18.05 to $69.44 this afternoon. Avanex, however, is also down considerably from its high of more than $273.

Gilder had been rumored to be putting New Focus on his October list, but he instead added Exodus Communications Inc. (Nasdaq: EXDS) and Cypress Semiconductor (NYSE: CY) at that time (see Exodus, Cypress Get Gildered).

-- Phil Harvey, senior editor, Light Reading http://www.lightreading.com



Steve Saunders 12/4/2012 | 9:01:36 PM
re: New Focus Gets Gilder Boost hi!
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