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Applied Optoelectronics (AAOI) Stock Soars on Higher Q3 Outlook

NEW YORK (TheStreet) -- Shares of Applied Optoelectronics (AAOI) were surging 14.24% to $19.89 in late-afternoon trading on Wednesday as the Sugar Land, TX-based fiber-optic networking products company raised its fiscal 2016 third quarter outlook.

The company now projects revenue to be in the range of $63 million to $65 million, compared to its prior estimates of $56 million to $59 million. Analysts are looking for $59.06 million in revenue.

Diluted earnings per share are forecast to be between 26 cents to 29 cents per share...