Oclaro, Inc. (NASDAQ:OCLR) Up 3.04% Despite Changes to Top Brass
Northern, WI 06/14/2013 (GDPInsider) – Oclaro, Inc. (NASDAQ:OCLR) is enjoying a relatively good spell in trading today, rallying 3.04% on a relatively strong trading volume.
The stock opened at 1.17, 0.02 cents above its previous close of 1.15. Over 776,000 shares have changed hands so far and OCLR has a trading range of 1.15 and 1.24.
Intraday gains have risen to a high of 5.98% and the stock is consolidating around its current market valuation of 1.1850.
OCLR provides optical communications and laser components, modules and subsystems for a range of markets, including telecommunications (telecom), industrial, scientific, consumer electronics and medical. The company has established itself a leading supplier of tunable lasers, lithium niobate external modulators, pump laser chips, thin film filters, and amplifiers.
In May OCLR showcased an expanded and innovative laser diode portfolio at the LASER World of PHOTONICS conference held in Munich May 14, 2013. The portfolio included the BMU80 fiber-coupled, single-emitter module which according to OCLR delivers 80 W power in a 105um fiber, enabling fiber laser manufacturers to reduce system complexity and achieve higher power with fewer modules.
Following on from the portfolio display in May, OCLR announced a change of directors in June and confirmed the changes with a recent filing of a Form 8-K with the SEC. The Form 8-K confirms the retirement of the company’s chairman and CEO Alan Couder, which took effect June 06, 2013. OCLR confirmed that board member Greg Dougherty had been promoted to CEO effective the date of Couder’s departure and also that Marissa Peterson, another board member assumed the role of chair.
The announcements have so far affected market valuation positively with OCLR’s technical chart showing a northward slope since the start of June. The stock has a RSI of 57.61 and is 0.03 cents above its SMA50 of 1.16.
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