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Strategies & Market Trends : The New Economy and its Winners

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To: fedhead who wrote (10809)	3/11/2002 2:30:56 PM
From: Bill Harmond	Read Replies (2) of 57684

13:47 ET CIEN CIENA rises on short-covering, takeover rumors (10.70 +1.43) -- Update -- As noted earlier, the telecom equipment group is having a very strong day. Pacing the group's advance is CIEN, which we are hearing is benefiting from Buckingham's upgrade of CIEN (+15.4%), SONS (+7.3%) and ONIS (+13%) to Neutral from Swap. Firm calls these names "survivor" companies that should benefit from stabilizing order patterns. According to firm, investors have seemingly stopped reacting to bad news and are covering large short positions, which is typically the first step in anticipating a stock/sector recovery. Also contributing to CIEN strength is chat room rumor that CSCO could make a play for co at these depressed levels... Other movers of note today include GLW (+5.9%), JDSU (+3.8%).

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