U.S.-listed optical communications shares rose in a Nov. 3 morning snapshot, a day after Fabrinet issued fiscal first-quarter results and its fiscal second-quarter revenue forecast.
At 9:47 a.m. ET (14:47 UTC) on Nov. 3, Fabrinet and Astera Labs were among companies trading higher. Corning, Ciena, Credo, Coherent and Applied Optoelectronics Inc. also advanced. Fabrinet manufactures optical communications components.
Revenue at Fabrinet reached $1.47 billion in the fiscal first quarter. The figure was 51% higher than a year earlier.
For fiscal Q2, Fabrinet projected revenue between $1.6 billion and $1.65 billion.
