Oclaro, Inc. (NASDAQ:OCLR) Up 3.04% Despite Changes to Top Brass

Posted by Ryan Mandell June 14, 2013 0 Comment 1039 views

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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About Ryan Mandell

Ryan Mandell is our senior staff writer covering the White House for Political Report, Ryan also coordinates with the main newsroom news items and contributing write-ups on cultural, social and political activities. Ryan holds an undergraduate degree in journalism, a Doctorate in international relations and a Master Degree in mass communications with an emphasis in print journalism. Ryan also covered the International Society of Social Defense congress in Spain in 2007 and taken part in the Global Forum on economic policies

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