Infinera started at neutral with $13 stock price target at J.P. Morgan

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Ciena earnings beat boosts shares of Finisar, Infinera

Finisar Corp. and Infinera Corp. are among the optical companies whose shares are up Tuesday, after optical networking company Ciena Corp. reported better-than-expected earnings before the open. Finisar shares are up 3.6%, while Infinera shares are up 4.1% and Ciena’s stock is up 9.9%. Others in the optical business, including Oclaro Inc. and Lumentum Corp. have seen their shares rise as well following Ciena’s report. Ciena’s CEO Gary Smith said on the company’s earnings call that increased adoption of mobile apps and streaming video was driving demand for Ciena’s products. Ciena shares are down 0.8% over the past 12 months, while Finisar shares are down 45% and Infinera shares are up 0.6%. The S&P 500 has gained 14% in that time.

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