Finisar (FNSR), Ciena (CIEN), JDS Uniphase (JDSU), Oclaro (OCLR) Crunched Wednesday on Low Guidance

With the optical sector being extremely volatile, when one company announces something important, the rest usually will rise or fall on that news, as Ciena (NASDAQ:CIEN), JDS Uniphase (NASDAQ:JDSU) and Oclaro (NASDAQ:OCLR) did when Finisar (NASDAQ:FNSR) lowered their guidance recently.

Optical-networking companies got hit hard Wednesday, with Finisar Corp. (FNSR) leading the disaster. Finisar’s shares closed with a loss of $15.43,or 38.5%, at $24.61 in the heels of the company’s weaker-than-expected fourth-quarter forecast.

Finisar said it expects to earn 31 cents to 35 cents a share on revenue of $235 million to $250 million. Analysts surveyed by Thomson Reuters had forecast a profit of 48 cents a share on $268.6 million in sales for that quarter.

Oclaro closed Wednesday at $13.53, losing $3.09, or 18.59 percent. Ciena closed at $24.33, down $1.35, or 5.27 percent. JDS Uniphase closed at $21.14, plunging $4.24, or 16.71 percent. Finisar ended the session at $24.61, down $15.43, or 38.54 percent.