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Technology Stocks : Ciena (CIEN)

CIEN 204.03

+1.9%

Nov 28 4:00 PM EST

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To: Tim Luke who wrote (5095)	11/3/1998 9:16:00 AM
From: Sawtooth	Read Replies (1) of 12623

So, VBW is beating the same tune out of their drum that they were pounding out yesterday afternoon. Wonder if anybody's listening? (Briefing) 08:48 ET CIENA Corp (CIEN) 21 13/16: As reported late yesterday, Volpe Brown Whelan calling rally in CIEN overdone, as any potential near-term positives are already fully discounted. Notes that while stock has declined from the low-$90s, estimates have also fallen nearly 80% during the same period from $1.75 to $0.40 (FY99). Moreover, Volpe says acquisition of CIEN at current levels would be massively diluted for all but the largest acquirer. Based on major new contracts and new product cycles, firm believes Advanced Fibre (AFCI) and PairGain Tech (PAIR) are much more visible. Firm currently rates CIEN "neutral," AFCI "buy" and PAIR "strong buy." This morning, CIEN indicated 7/8 lower.

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