Why NeoPhotonics Stock Rocketed Higher Today

Shares of NeoPhotonics (NYSE: NPTN) were up 37% as of 12:01 p.m. EDT on Thursday.

The provider of optoelectronic products delivered strong third-quarter earnings results, with revenue up 29% quarter over quarter. But the big news that boosted the stock was the $918 million buyout proposal from Lumentum Holdings (NASDAQ: LITE). 

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Source Fool.com