Brian, I'm sorry. I meant 3711 which is the prior support level.
What do you make of the news from Enron on Sycamore? First,
Sycamore sold to Williams and now Enron. Looks like they may be on to something.
Jan 31 12:07pm ET
HOUSTON (Reuters) - Enron Corp. (ENE.N), an energy and communications giant, said Monday its broadband unit signed a three-year contract with optical network equipment company Sycamore Networks (SCMR.O) that could represent up to $200
million in revenue for Sycamore.
Houston-based Enron said its Broadband Services unit will use Sycamore's switching and transport products for its Intelligent Network, which delivers data, applications and
streaming media to desktops.
Enron, the largest U.S. gas and electricity company, is building the new communications network over fiber located in its existing interstate gas pipeline network, betting that such capacity is poised to become the next new commodity market. The communications network began operations one year ago.
``The ability to dynamically manage bandwidth at the optical layer will accelerate the deployment of broadband services and speed development of bandwidth markets,' Ken
Rice, Enron Broadband Services's co-chief executive, said in a statement. `` With this agreement, Sycamore Networks will provide a key component of that network.'
In late morning trading on the New York Stock Exchange Monday, Enron shares were up 2-15/16 at 63-1/8. On the Nasdaq, meanwhile, Sycamore shares were down 6-3/8
at 303-1/2. |
