USRX /COMS - and other "stuff" Message Board

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Technology Stocks : USRX /COMS - and other "stuff"

COMS 0.00160

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Jan 9 9:30 AM EST

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To: Sonki who wrote (4168)	5/27/1997 12:59:00 PM
From: Glenn D. Rudolph	of 5244

CIENA drops as some shares released Reuters Story - May 27, 1997 12:23 FINANCIAL TEL US STX ISU IPO HOT CIEN V%REUTER P%RTR NEW YORK, May 27 (Reuter) - Shares of CIENA Corp declined Tuesday as some of the shares subject to a lock-up agreement were released, analysts said. CIENA, a maker of telecommunications components, was off 3-5/8 to 42-3/8 and was the second most heavily traded Nasdaq issue. CIENA said Thursday that Goldman Sachs & Co had agreed to release 10 percent of the 88 million shares subject to lock-up agreements due to expire August 7. The release was effective today. CIENA launched its initial public offering in February. Analysts said they were not surprised that CIENA's stock weakened as investors evaluated how the influx of stock would affect the trading price. "It's not a small amount of stock. It makes sense for buyers to step back and get a sense of how much stock is out there and what the best price is," said SoundView Financial Group analyst Kevin Slocum. Analysts said today's stock price fluctuation would have no effect on the company's earnings prospects or long-term viability.

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