Casa CFO Leaving; Stock Rises After Financial Guidance Reiterated

Although Casa Systems Chief Financial Officer Maurizio Nicolelli is resigning, the stock surged Friday after the news. He will pursue “opportunity outside of the communications technology industry,” the cable gearmaker said. Its board appointed Senior Vice President-Strategy and Corporate Development Scott Bruckner interim CFO. The company expects to meet or exceed some FY 2019 financial guidance. That's "positive," wrote Raymond James analyst Simon Leopold. Shares closed up 29 percent Friday at $4.69.