Latest Reports on Trending Tickers: Oclaro and CSX

NEW YORK, NY / ACCESSWIRE / January 20, 2017 / U.S. markets fell across the board Thursday as investors await President’s Trump upcoming inauguration. The Dow Jones Industrial Average fell over 125 points before settling to close at 19,732.40, down 0.37 percent, while the S&P 500 Index and the Nasdaq posted declines of 0.36 percent and 0.28 percent, respectively. The S&P 500 has averaged a rise of 1.6 percent during the initial 100 days of a new President’s first term since 1953, wrote Sam Stovall, chief investment strategist at CFRA, in a note. Today’s reports on Oclaro, Inc. (NASDAQ: OCLR) and CSX Corporation (NASDAQ: CSX).

“Performance differences by party were pronounced,” Stovall said. “The S&P 500 fell in price an average of 0.4% under the five new Republican presidents, and rose 60% of the time, versus a 3.5% average gain and an 80% frequency of advance for the six Democrats.”

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Oclaro’s shares spiked 16.61 percent to close at $9.48 a share Thursday. The stock traded between $8.90 and $9.78 on volume of 26.37 million shares traded. The company expects revenues to be in the range of $153.5 million to $154.0 million for the second quarter of fiscal 2017, which is at the high end of the company’s previous guidance of $146 million to $154 million. Oclaro will host a conference call and webcast on PST 2 p.m. Tuesday, January 31, 2017 to discuss its second quarter fiscal year 2017 financial results and business outlook.

“Our excellent preliminary results for the December quarter once again demonstrated the strength of Oclaro’s products in the markets we serve. We expect revenue to come in at the high end of guidance as 100G and beyond sales again exhibited excellent growth. In addition, we expect the quarterly results to reflect record levels of gross margin and operating income and exceed our prior guidance. Our performance was driven by strong execution, a richer product mix, and favorable foreign exchange rates,” said Greg Dougherty, Chief Executive Officer, Oclaro.

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CSX’s shares soared 23.40 percent to close at $45.51 a share Thursday. The stock traded between $42.66 and $45.61 on volume of 98.51 million shares traded. The Wall Street Journal has reported Hunter Harrison, who recently stepped down as CEO of Canadian Pacific Railway, will partner with activist investor Paul Hilal in an attempt to put Mr. Harrison in a senior management position at CSX. Mantle Ridge LP, Paul Hilal’s Fund, “has raised more than $1 billion for a single investment”, a source told The Wall Street Journal. During Mr. Harrison’s tenure at Canadian Pacific Railway, its operating ratio improved from 81.3 percent in 2011 to 58.6 percent most recently. CSX’s operating ratio in 2016 was 69.4 percent, and the company said that it is targeting it to mid-sixties in the longer term.

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