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

To: MStonek who wrote (7704)	11/3/1999 2:06:00 PM
From: Baldwin	Respond to of 12623

Ciena Shares Rise on Optimism Sparked by Contract From Williams Linthicum, Maryland, Nov. 3 (Bloomberg) -- Ciena Corp. shares rose as much as 16 percent as a contract with Williams Communications Group Inc. spurred optimism that the phone- equipment maker could win more business. Ciena rose 5 to 39 1/4 in midafternoon trading of 12.7 million shares, making it the seventh-most active stock in U.S. markets. Earlier, the shares touched 39 13/16. The stock has more than doubled this year. Williams Communications, a Williams Cos. unit that has completed about two-thirds of a planned 33,000-mile fiber-optic network, said yesterday that it reached an agreement in the third quarter to buy equipment from Ciena. Ciena is the No. 1 seller of gear used to boost capacity on fiber-optic networks. ''It's a great reference account'' for Ciena, said BancBoston Robertson Stephens analyst Paul Silverstein, who rates Ciena shares ''buy.'' Silverstein estimated the contract's value at $25 million to $50 million over the next year. It's for a new optical-switch product Ciena acquired with its March purchase of closely held Lightera Networks Inc. Ciena, based in Linthicum, Maryland, had revenue last year of $508.1 million. ''This is a market that's going to go form zero to several billion dollars over the course of the next decade,'' said Silverstein, referring to the new Lightera product. Ciena officials couldn't immediately be reached to comment. A Williams Communications spokesman couldn't immediately confirm the value of the contract. Nov/03/1999 13:50 For more stories from Bloomberg News, click here. (C) Copyright 1999 Bloomberg L.P. Any redistribution of Bloomberg content, including by framing or similar means, is expressly prohibited without the prior written consent of Bloomberg L.P. Any reference to the material must be properly attributed to Bloomberg News. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.(C) Copyright 1999 Bloomberg L.P. BLOOMBERG, Bloomberg News, Bloomberg Financial Markets, Bloomberg Television, Bloomberg News Radio are trademarks, tradenames and service marks of Bloomberg L.P.