Alliance Fiber Optics expands due to huge demand

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Alliance Fiber Optics expands due to huge demand

Julian Close 10/25/2013

Shares of Alliance Fiber Optic Products ( AFOP ) are soaring this Friday morning after the company announced earnings and revenue in excess of The Street's forecast. The company earned $0.32 per share where The Street had been expecting $0.29, increased its revenue by 86% over the year-ago quarter and provided guidance that their fourth quarter revenue would be up 80% from the year-ago quarter.

Alliance Fiber Optic Products ( AFOP ) designs and manufactures components and modules for fiber optic communications.

Deckers Outdoor ( DECK ) and QLogic ( QLGC ) top the list of other companies with positive news today, while Qlik Technologies ( QLIK ) and Synaptics ( SYNA ) top the list of companies with negative news.

IK-> The technicals for AFOP are bearish with a possible trend reversal. It has support at $19 and is above resistance. The stock is up 16% today at $20.21. The company reported earnings on October 24. Look at the January 15/17.5 bull-put spread for at least a $0.40 credit. Use Limit Orders. This trade has a target return of 19% and the stock has to fall 13.4% to cause a problem. [InvestorsKeyhole, Various news and data services]



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Originally published on InvestorsObserver.com


This article appears in: Investing , Options

Referenced Stocks: AFOP , DECK , QLGC , QLIK , SYNA

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