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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: wlheatmoon who wrote (30886)	4/30/2000 12:45:00 PM
From: James Lee Baldwin	Respond to of 63513

Sycamore Networks Rises After Analyst Reiterates `Buy' Rating By Scott Lanman quote.bloomberg.com. Chelmsford, Massachusetts, April 28 (Bloomberg) -- Shares of Sycamore Networks Inc., a maker of fiber-optic equipment, rose as much as 28 percent because an influential analyst reiterated his ``buy'' rating after the stock fell by two-thirds in eight weeks. The shares rose 14 9/16 to 79 5/8 in early afternoon trading after reaching 83 1/4, their third-biggest one-day percentage gain. Still, the shares are still down about 60 percent from a March 2 high of 199 1/2. J.P. Morgan Securities Inc.'s Greg Geiling, who was named a top telephone-equipment analyst last year by Institutional Investor magazine, said in a research note that the stock market's recent decline is a ``buying opportunity'' for Sycamore and Ciena Corp. Speculation about software glitches and failed tests of Sycamore gear appears to be unfounded, he wrote. ``(W)e firmly believe that product trials are proceeding very smoothly, and customer-spending forecasts remain intact,'' Geiling wrote. Geiling expects that Sycamore will report profit of 2 cents a share in the fiscal third quarter ending in April. His estimate is also the average of six analysts polled by First Call/Thomson Financial. Revenue is expected to rise to $39.2 million, 35 percent higher than the prior quarter, he wrote. J.P. Morgan was an underwriter for Chelmsford, Massachusetts- based Sycamore's initial public share sale in October. Geiling also reiterated his ``buy'' rating on Ciena, which makes equipment to boost the capacity of fiber-optic networks. The Linthicum, Maryland-based company's shares rose 4 5/8 to 129 1/16.