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Technology Stocks : Ciena (CIEN)

CIEN 200.18

+2.0%

4:00 PM EST

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To: Jan Crawley who wrote (3476)	9/22/1998 3:23:00 PM
From: Asymmetric	Read Replies (1) of 12623

Ciena up on takeover rumors, new contract NEW YORK, Sept 22 (Reuters) - Shares of telecommunications equipment supplier Ciena Corp. rose 26 percent on Tuesday amid rumors it may be a takeover target following its failed merger with Tellabs Inc. (Nasdaq:TLAB - news), analysts and traders said. Ciena's announcement of a contract to supply new equipment to Japan Telecom Co. Ltd. also added to the share activity, analysts said. Shares of Ciena, the most active Nasdaq issue, gained 3-1/16 to 14-1/16 on volume of more than 16 million shares compared with average daily volume of about 10 million shares. (Vol now up over 20 million shares traded)

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