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Technology Stocks : Ciena (CIEN)

CIEN 259.27

+2.0%

Jan 7 4:00 PM EST

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To: James A. Shankland who wrote (2810)	9/9/1998 7:59:00 PM
From: Larry J.	of 12623

That's correct, when I spoke with IR this morning, they said that the contract award was $240 million, only $100M of it in DWDM equipment. Fibre Optic cable (and I imagine some other stuff) made up the balance. Its probable that Pirelli leveraged the hell out of the cable in order to get the equipment. I'm encouraged by reports that TLAB knew of the lost deal when they renegotiated to .8 shares. Some have suggested that TLAB's credibility would be restored if they broke off the deal tomorrow. I believe the converse to be true. In the big scheme of things $100M over 3 years is not that big of a deal, and the whacking CIEN took today was unwarranted. At any rate, I bet big on that being the case. We'll see! Larry

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