JDS Uniphase (JDSU) NewsBite - JDSU Rises on Q2 Forecast

JDS Uniphase (NasdaqNM: JDSU) opened at $6.34. So far today, the stock has hit a low of $6.32 and a high of $6.56. JDSU is now trading at $6.37, up $0.30 (4.94%). Over the last 52 weeks the stock has ranged from a low of $2.01 to a high of $8.38. JDSU reported a first-quarter loss last night of $31.9 million, or 15 cents per share. Excluding one-time items, JDSU lost 4 cents per share, while analysts had expected a profit of 2 cents per share. However, shares of the stock are rising on the company's second-quarter revenue forecast of $320 to $345 million. Analysts have forecast revenue of $306.14 million. Technical indicators for the stock are neutral and S&P gives JDSU a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on JDSU the stock seems like it could be a candidate for a March covered call above the 6 range.

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Related terms: profit, revenue, S&P