Movement Alert|Viavi Solutions Falls 5.12% in Regular Trading, Profit-Taking Pressure Persists After Earnings Beat

Market Focus08-07

On August 7, Viavi Solutions fell 5.12% in regular trading, trading at $38.65/share, with turnover of $42.89 million. The decline marks the second consecutive session of selling pressure following the company's better-than-expected fiscal Q4 earnings report.

Viavi reported adjusted EPS of $0.34, beating the consensus estimate of $0.30, while revenue came in at $443.1 million versus expectations of $432.6 million. Fiscal Q1 guidance of $0.40-$0.42 EPS on revenue of $450-$460 million also exceeded analyst forecasts of $0.28 EPS on $432.2 million revenue. However, shares had surged 5% to 7% ahead of the earnings release on August 5, with the optical communications sector rallying broadly and pre-earnings positioning driving concentrated long entries.

Additionally, B. Riley on August 6 lowered its price target from $63 to $60 while maintaining a Buy rating, adding to profit-taking sentiment. The current decline primarily reflects continued unwinding of the sharp pre-earnings rally despite strong fundamental results.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment