Finisar (FNSR) Posts Surprise Profit; Citigroup Boosts View on BP plc (BP)

Finisar_FNSR

Shares of Finisar Corp. (Nasdaq:FNSR) soared more than 10% in after-hours trading Thursday as the company delivered in its financial results quarterly profit numbers that exceeded Wall Street analysts’ expectations.

For its fourth quarter fiscal 2016, Finisar posted revenues of $318.8 million, a 3.1% increase year over year, and non-GAAP net income of $31.82 million, or $0.29 per diluted share, compared to non-GAAP net income of $26.6 million, or $0.25 per diluted share in the same quarter the prior year, topping the Capital IQ Consensus Estimate of $0.25 earnings per share on revenues of $317.88 million for the period

According to its business outlook, the company expects first quarter fiscal 2017 non-GAAP net income to be in a range of about $0.27 to $0.33 per diluted share versus the Capital IQ Consensus Estimate of $0.27 earnings per share for the next reporting period

FNSR stock finished the regular session at $17.58, up $0.14 (or +0.80%) with a total volume of 2,701,457 shares traded during the day

Finisar, which provides optical subsystems and components for data communication and telecommunication applications, has 107.53M Shares Outstanding, Market Capitalization (intraday) of $1.89B and FNSR stock 52-week range is between $10.66 and $22.26 per share

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BP_plc_BP

BP plc (NYSE:BP) shares surged $0.87 (or +2.79%) to $32.03 after investment analysts at Citigroup upgraded the company’s stock from a Neutral to a Buy rating.

The London-based oil major recently reported a surprise profit of $532 million for the first quarter 2016, while analysts were expecting a loss of ($244.9) million for the period

BP, which operates as an integrated oil and gas company worldwide, has 3.11B Shares Outstanding, Market Capitalization (intraday) of $99.48B and BP stock one-year range is from $27.01 to $42.20 per share

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