Ciena, Juniper Networks Resist Technology Stock Woes, WSJ Says
New York, Sept. 28 (Bloomberg) -- Ciena Corp., Juniper Networks Inc. and Corning Inc., makers of telecommunications gear that use fiber optics, have risen in recent weeks, bucking a trend of falling technology share prices, the Wall Street Journal reported in its ``Heard on the Street'' column.
The fiber-optics companies remained strong because they are more likely than other Internet-equipment makers to beat earnings estimates, UBS Warburg LLC analyst Nikos Theodosopoulos told the Journal.
Investors, though, could sour on the three companies if there are any signs of trouble. They may not be able to escape a general slowdown, said Paul Sagawa, an analyst at Sanford C. Bernstein & Co.
Most companies that manufacture equipment for the Internet, such as Cisco Systems Inc. and Canada's Nortel Networks Corp., have fallen since Sept. 1 on fears that telecommunications companies will cut capital spending. The Morgan Stanley High Technology index has fallen almost 16 percent this month, the paper said.
(WSJ 9/28 C1)
Sep/28/2000 6:59 ET
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