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

To: jghutchison who wrote (8996)	5/26/2000 8:37:00 AM
From: jghutchison	Respond to of 12623

Telecom stocks jump on China vote By Jeffry Bartash, CBS.MarketWatch.com Last Update: 11:18 AM ET May 25, 2000 NewsWatch Latest headlines NEW YORK (CBS.MW) - Telecommunications stocks shot higher on Thursday, basking in the glow of the House vote to approve normalized trading relations with China. Smoother trading relations are expected to benefit high-tech manufacturers, particularly telecom-equipment makers. China is rapidly expanding its wireline and wireless phone systems and needs to spend heavily on new equipment to modernize the country?s telecommunications network. Shares of small and large telecom equipment makers alike posted solid advances Thursday morning, building on Wednesday?s small gains. The U.S. phone carriers also edged higher. Among the large equipment makers, Cisco Systems (CSCO: news, msgs) rose 2 1/8 to 57 1/4, Nortel Networks (NT: news, msgs) climbed 2 5/8 to 54 1/8, Alcatel (ALA: news, msgs) advanced 2 to 46 3/8. Ciena (CIEN: news, msgs), Cabletron Systems (CS: news, msgs), Nokia (NOK: news, msgs) and Tellabs (TLAB: news, msgs) also rose. That propelled the American Stock Exchange?s Networking Index, composed of larger equipment makers, up 4.2 percent. The only major equipment maker to lose ground, Lucent Technologies (LU: news, msgs), was down 1 1/4 to 52 1/2. Gains were also widespread among newer equipment makers. California Amplifier (CAMP: news, msgs), Redback Networks (RBAK: news, msgs), Efficient Networks (EFNT: news, msgs) and Copper Mountain (CMTN: news, msgs) edged higher. One of the few to retreat was Adpative Broadband (ADAP: news, msgs), off 7/8 to 19 7/8. The Nasdaq?s Telecommunications Index, composed of younger growth companies, climbed 3.5 percent Phone carriers also rose, but less impressively. The Standard & Poor?s communications services index, which includes all the major carriers, edged up 0.1 percent. Level 3 Communications (LVLT: news, msgs) was the biggest gainer, up 2 13/16 to 72 7/8. WorldCom (WCOM: news, msgs) was fractionally higher, while Sprint (FON: news, msgs) and AT&T (T: news, msgs) were fractionally lower. All the satellite carriers were also higher, led by Gilat Satellite Networks (GILTF: news, msgs), which rose 4 7/16 to 73.