MRV UP MORE THAN 20%.Byline: Dave McNary Daily News Staff Writer Shares of telecommunications equipment specialist MRV Communications  OverviewMRV NASDAQ: MRVC is a company that designs, manufactures, sells, distributes, integrates and supports communication equipment and services, and optical components. Inc. surged more than 20 percent Tuesday for their biggest gain since the stock melted down five months ago. MRV MRV minute respiratory volume. rose $1.6975 to $9.875 a share with 2.97 million shares changing hands, or six times the 30-day average volume. The upward spike followed an announcement of new router router Portable electric power tool used in carpentry and furniture making that consists of an electric motor, a base, two handle knobs, and bits (cutting tools). A router can cut fancy edges for shelving, grooves for storm windows and weather stripping, circles and ovals and switching products for networks along with analyst Richard Berry of J.P. Turner & Co. issuing a ``trading buy'' recommendation with a three-to-six month target of $12 to $13. The run-up erased e·rase tr.v. e·rased, e·ras·ing, e·ras·es 1. a. To remove (something written, for example) by rubbing, wiping, or scraping. b. a significant chunk of the issue's Aug. 28 plunge, which saw shares fall from $14.375 to $6.8125 after MRV announced a downbeat down·beat n. 1. Music a. The downward stroke made by a conductor to indicate the first beat of a measure. b. The first beat of a measure. 2. Informal A period of stagnation or inactivity. third-quarter forecast due to slow European sales and delays of new products. MRV shares are still down 31 percent from the Aug. 27 close and 74 percent off the all-time high of $38.75 in September 1997. Analyst Fredrik Tjernstrom of Emerging Growth Alert, who issued a ``buy'' rating on the stock after the August decline, said MRV had fallen out of favor with investors due to concerns about its ability to produce profits after recent acquisitions. Tjernstrom also said it would be no surprise for MRV's stock to keep rising due to the strong fiber-optic products in development. The company made the product announcements Tuesday at the Comnet trade show in Washington, D.C. It will ship the GFS See Google File System. GFS - Grandfather, Father, Son 3012 switch router See layer 3 switch. , listed at $7,995, next month and the AccelRouter, listed at $13,995 with the ability to boost network performance by as much as 100 times, in March. MRV's third-quarter earnings declined sharply to $1.55 million, or 6 cents a share, from $5.92 million, or 23 cents a share, in the same period in 1997. Sales amounted to $62.3 million, compared with $42 million in the year-earlier period, but were down $3.4 million from the second quarter. The company plans to report fourth-quarter earnings Feb. 16. |
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