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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: DZOO who wrote (7224)	6/7/1999 3:37:00 PM
From: Nicholas Rauch	Read Replies (1) \| Respond to of 12623

SEARCH SITE Enter keyword: View Site Map STOCK QUOTES Enter symbol: Lookup symbol NEWS Top Financial News Top World News Stock Market Update Technology U.S. Economy Columns STOCKS Tech Stocks Stocks on the Move Chart Builder World Indices Movers by Exchange Stocks in the Dow S&P 500 Snapshot Industry Movers Most Active Options IPO Center Regional Indices RATES & BONDS Key Rates U.S. Treasuries International Bonds Muni Bond Yields CURRENCIES Currency Rates Cross Currency Rates Currency Calculator EMU Update COMMODITIES Most Active Futures Commodity Movers Energy Free access to online research from Salomon Smith Barney. Click here. Ciena Shares Rise on Speculation of Customer Announcement Soon Ciena Shares Rise on Speculation of Customer Announcement Soon Linthicum, Maryland, June 7 (Bloomberg) -- Ciena Corp., the world's No. 1 seller of equipment used to boost capacity on phone networks, rose as much as 13 percent on speculation it will announce new customer orders this week. Shares of Ciena gained 2 5/8 to 32 1/16 in late trading of 7.3 million, about double the three month daily average. The shares, which have doubled so far this year, touched 33 1/8 earlier. Ciena's results have been improving for the past two quarters in the company's push to rebuild its business after losing orders last year when rivals slashed prices. Analysts said Ciena's string of new product announcements last week help temper concern about the company's ability to compete against larger rivals Lucent Technologies Inc. and Nortel Networks Corp. They expect more good news, such as a customer win, could come from this week's Supercomm trade show in Atlanta. ''It wouldn't surprise me to see a nice announcement out of them this week,'' said Paul Silverstein, an analyst at BancBoston Robertson Stephens Inc., who rates Ciena ''buy.'' Ciena has a history of making big announcements at Supercomm. Two years ago, the company announced trials of its products with AT&T Corp., and last year the show came on the heels of Ciena's agreement to be acquired by Tellabs Inc. That sale eventually fell through after Ciena lost contracts and warned it wouldn't meet profit estimates. On Thursday, Ciena unveiled new equipment that will let phone companies transmit about 480 billion bits of information a second and can be upgraded to carry about 2 trillion bits next year. The products are designed for companies struggling to carry mushrooming data traffic spurred by the Internet. ''Ciena's hallmark historically has been getting to market first,'' Silverstein said. ''It looks like they've done it again.'' Last month, Ciena reported net income for the period ended April 30 of $1.6 million, or 1 cent a share, beating analysts' estimates for a loss of 3 cents. Shares of other phone-equipment makers also rose in anticipation of announcements from the Supercomm show, which starts tomorrow. Tellabs rose 2 15/16 to 62 13/16, while Adtran Inc. rose 3 3/16 to 31 1/16, and Uniphase Corp. 9 11/16 to 150. ''The group's very hot in general before Supercomm,''' said Greg Mesniaeff, an analyst at Robinson-Humphrey Co. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min. Access More Information and Services Above ©1999 Bloomberg L.P. All rights reserved. Terms of Service, Privacy Policy and Trademarks.