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To: Boplicity who wrote (7052)	11/29/2000 12:19:58 PM
From: Dealer	Respond to of 13572

CIEN--CIENA Drops Amid Concern About Client Problems NEW YORK (Reuters) - Shares of telecommunications equipment maker CIENA Corp. (NasdaqNM:CIEN - news) were down 13 percent in trade Wednesday as investors fretted anew about potential financial problems at a large European customer and the possibility of lower sales to Sprint Corp. (NYSE:FON - news), analysts said. Shares of CIENA hit an intraday low of $70 in heavy morning trade on the Nasdaq stock market. The stock rebounded to $73, down $11, or 13 percent, at mid-morning. The stock has jumped more than 154 percent this year but is still below its 52-week high of $151. While concerns about possible financial woes at European carrier Global TeleSystems Group Inc. (NYSE:GTS - news) are not new, a report by Bluestone Capital Group this week sparked a new bout of fears, analysts said. Also, French equipment maker Alcatel (CGEP.PA) reiterated at an meeting with analysts on Wednesday that it had become a second source supplier to long-distance company Sprint, one of CIENA's largest customers. Investors feared that CIENA could see less business from Sprint since the carrier has two manufacturers from which to buy DWDM (dense wave division multiplexing) equipment, analysts said. DWDM equipment expands the capacity of fiber optic networks. ``Everyone knew all of this already. It's not new. But it still freaked everyone out,'' said one industry analyst who declined to be named.