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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Judy who wrote (13267)8/21/1998 12:58:00 PM
From: Mark Z  Read Replies (1) of 120523
 
Per Briefing:

12:44 ET CIENA Corp (CIEN) 26 15/16 -29 17/32 (-53%): Telecom equipment maker was informed this morning
that AT&T will not pursue further evaluation of CIENA's 40-channel WDM multiplexer. In light of this development,
both Tellabs (TLAB 61 1/8 +3 7/8) and CIENA have agreed to adjourn their respective stockholder meetings until
September 9. Investors are trading the stocks as if deal will not go through. Under previously released terms,
Tellabs would acquire CIENA in a 1-for-1 stock exchange. When deal was announced in early-June, CIEN shares
traded at 57 9/16 and TLAB traded at 65 7/8.
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