Lumentum Holdings Inc. (“Lumentum” or the “Company”) today reported results for its fiscal first quarter ended October 1, 2016. Net revenue for the fiscal first quarter of 2017 was $258.1 million, with GAAP net loss of $(3.4) million, or $(0.06) per diluted share. Net revenue for fiscal fourth quarter of 2016 was $241.7 million, with GAAP net profit of $14.3 million, or $0.23 per diluted share.
Key Takeaways:
- A late-afternoon downdraft of selling pinched the stock market’s gains on Monday, yet the overall trading carried a generally quiet tone with less than two weeks left in the year.
- Nvidia is also extended from any proper buy points, yet still points to solid demand from institutional quarters for tech stocks overall.
- The S&P 500, hampered by steep declines among toy, newspaper, metal ore, agricultural chemical and shipping stocks, edged just 0.2% higher.
“NeoPhotonics guided analyst forecasts lower for the fourth quarter, sending shares of the company tumbling after the close.”
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