U.S. optical communication sector opens mixed; industry giant Coherent drops over 3% despite strong earnings.

According to market data from BIT (bit.com), the US-listed optical communications sector opened mixed. Leading optical communications giant Coherent (COHR) fell over 3% despite its new quarter’s earnings guidance exceeding all market expectations. The company reported Q4 fiscal quarter revenue of $2.05 billion in yesterday’s after-hours trading, up 34% year-over-year, beating the market forecast of $1.98–$2.02 billion. It projected Q1 fiscal quarter revenue of $2.20–$2.40 billion, higher than the expected $2.13 billion, with adjusted EPS forecast at $1.85–$2.05, also above the consensus estimate of $1.77. Pure Photonics ETF (FOTO) rose 0.05%; Corning (GLW) fell 0.19%; Marvell Technology (MRVL) gained 1.73%; Applied Optoelectronics (AAOI) dropped 1.10%. AAOI is a manufacturer of high-speed optical modules (800G/1.6T) focused on AI data center transceivers. Lumentum Holdings (LITE) declined 0.39%, a core supplier of optical communications lasers and modules serving major AI data center players. Coherent Corp (COHR) fell 3.76%, a leading provider of lasers, optical components and photonics solutions covering data center and industrial sectors. Ciena Corporation (CIEN) advanced 0.93%, which produces high-speed SerDes and connectivity chips and specializes in low-power interconnections for AI data centers.