Tuesday, April 5, 2011

Finisar Corp. Rallies On Buyout Rumor

Shares of Finisar Corporation (NASDAQ: FNSR) surged as much as 4% on Tuesday on speculation that the company could be acquired. Last month, the network equipment maker offered to buy Norwegian  optical components vendor Ignis ASA in a deal worth $76 million. Finisar is a provider of fiber optic subsystems and components that enable high-speed voice, video and data communications for telecommunications, networking, storage, wireless, and cable TV applications. Finisar is headquartered in Sunnyvale, California. Stay tuned for more.

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