OFC: Up, the Optics!
5:57 PM -- SAN DIEGO -- OFC/NFOEC -- I didn't think to check the stock market this morning. Andrew Schmitt of Nyquist Capital
did, and brought up during lunch that it's the biggest day optical components have had in a year.
Some closing figures: Optium Corp. (Nasdaq: OPTM), up 11 percent; Opnext Inc. (Nasdaq: OPXT), up 10 percent; Bookham Inc. (Nasdaq: BKHM; London: BHM) and Avanex Corp. (Nasdaq: AVNX), each up 5 percent; and JDSU (Nasdaq: JDSU; Toronto: JDU) -- whose size shelters it somewhat from optical whiplash -- up 1.6 percent.
The Nasdaq Composite was up less than 1 percent, so it's not a case of all technology stocks climbing at once. OFC/NFOEC apparently pulls some weight. Or, maybe investors heard that George Gilder pep talk.
Whatever the cause, it's a nice antidote to yesterday's discussions. (See Troubles Linger for Optical Components.)
— Craig Matsumoto, West Coast Editor, Light Reading