Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Timoteo who wrote (8185)	12/12/1997 8:47:00 AM
From: Bob Trocchi	of 9285

Timoteo... You may have already seen it but if not, FYI CIENA CORP. (CIEN) 54 3/4 -1/4. The good news from this dense wavelength division multiplexing systems equipment concern for long-distance and local exchange carriers is being lost today on nervous investors as the market retreats further on renewed concerns over Asia. Last night, this telecommunications equipment maker posted better-than-expected fiscal 4Q results, but the early price gains of more than $2 have given way to a new round of selling. According to CIENA, it earned $0.35 a share in the 4Q, two cents ahead of the First Call estimate and more than 218% higher than year-ago net of $0.11 a share. Revenues in the latest period rose 7.8% on a sequential basis to $121.0 million and 219% from year-ago level of $37.9 million as its products continued to receive good demand, particularly from customers like Sprint Corp. (FON 58 1/8 +5/16) and WorldCom (WCOM 32 15/16 -9/16). However, the goods earnings report is being lost on investors today as market players remain focused on the impact that a deteriorating Asian market may have of U.S. corporate earnings. Shares of CIENA has traded as high as $57 3/8 this morning before giving ground this afternoon on lack of follow through as investors are quick to take profits in an easily spooked trading environment. briefing.com I would not short right now but, that is your decision. Bob T.

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