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Technology Stocks : Ciena (CIEN)

CIEN 271.32

+7.2%

Feb 6 4:00 PM EST

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To: Darryl Olson who wrote (996)	10/9/1997 3:56:00 PM
From: emichael	of 12623

This is a Canadian Company in a similar business. Make looks CEIN cheap, TORONTO, Oct 9 (Reuter) - Shares in JDS Fitel Inc surged on Thursday after the high-technology company reported late on Wednesday that it trebled its first-quarter net earnings. JDS shares jumped 8.55 to 77.55 on the Toronto Stock Exchange on volume of 378,500 shares. JDS, a manufacturer and distributor of fiberoptics products, said that earnings for its first quarter ended August 31 rose to C$0.42 a share or C$10.2 million from year earlier C$0.14 a share or C$3.3 million. Company officials said earnings reflected strong growth in demand for transmission capacity and the evolution of all-optical networks. Analysts applauded the company's performance and pointed to further growth in the year ahead. "They have exceeded all analysts' expectations and they have indicated that they are seeing an acceleration in demand and growth," said Gurinder Parhar, who follows the Nepean, Ontario-based company for Canaccord Capital Corp. "Everybody is anticipating that this is not a one-quarter or one-year event. This is a multi-year trend," said Parhar, who said he would revise his 12-month target price to 100. email: paul.simao@reuters.com))

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