CORV stuff...
Jun 21 2002
7:33 AM In Play BofA downgrades Systems Vendors : Banc of America downgrades its Strong Buy rated Systems Vendors to BUY, as firm no longer expects any near-term improvement. This list includes CSCO, CIEN, ONIS, JNPR... BofA is cutting those names with worrisome balance sheets to MKT PERFORM, which include LU and NT. Firm maintains Buy rating on CORV as stk currently trading for less than cash.
Apr 25 2002
4:25 PM In Play Corvis matches estimates (CORV) 1.25 -0.01: Reports Q1 (Mar) loss of $0.11 per share, in line with the Multex consensus of ($0.11); revenues fell 89.6% year/year to $8.7 mln vs the $10.2 mln consensus.
Mar 6 2002
2:00 PM In Play Riverstone Ntwrks rises on takeover appeal (RSTN) 5.8 +0.80: Stock is putting together a solid advance on the day, rising 16% on strong volume (5.4 mln shares). Contributing to the advance is morning comment by Lehman that Alcatel may consider Riverstone an acquisition candidate given its current reduced valuation... Networking/telecom names AVCI (+14%), SONS (+6.5%), TELM (+5%), CORV (+5%) also strong on the session.
Feb 20 2002
3:17 PM In Play Events Calendar : JP Morgan Communications Symposium begins tomorrow, with LU, NT, CORV, NOK, MOT, OPWV, JDSU and BRCM among the companies scheduled to present. For a complete list, see Briefing.com's Events Calendar.
Feb 19 2002
8:17 AM In Play CIENA/ONI Systems acquisition: analyst comments (CIEN) 8.73: -- Update -- The CIEN acquisition is getting generally favorable comments from analysts. DB Alex. Brown says that the transaction will create an optical powerhouse, with leading mkt share across the board, strong customer base, and $1.3 bln in cash. UBS Warburg says the deal makes strategic sense, although cost/revenue synergies and the integration process will be crucial to the success of the merger. CIBC notes that the acquisition could set off a domino effect of big merger-of-equals in optical networking and could boost shares of CORV, SCMR, and TELM.
Feb 7 2002
5:34 PM In Play After Hours Movers : Prices versus 4 pm ET close... TQNT +0.20 bidding up after topping estimates and reiterating guidance; PIXR +0.13 also higher after comfortably exceeding estimates on both the topline and the bottomline; MTON -1.03 selling off after matching estimates but guiding lower going forward. Other movers of note include: CORV -0.15, ONIS +0.21.
Feb 7 2002
4:10 PM In Play Corvis Q4 EPS in line, misses rev est (CORV) 1.63 -0.03: Reports Q4 pro forma loss of $0.11, in-line with the Multex consensus; revs came in at $15.2 mln, short of the consensus of $20.86 mln.
Jan 7 2002
8:16 AM In Play Corvis (CORV) 3.03: Names Lynn Anderson as its new CFO. Mr. Anderson succeeds Anne Stuart, who has taken an executive position with a biotech company. Prior to joining Corvis, Lynn was CFO of the Optical Capital Group
Dec 4 2001
10:03 AM In Play Market Movers : Telecom equipment/networking stocks (ONIS, RSTN, CORV, JDSU, AVCI) rising on reports that Sprint providing favorable capex guidance... Enron (ENE 0.73 +0.33) soars 82.5% after bankrupt company secures $1.5 bln of debtor-in-possession financing... CMGI (CMGI +8%) appears to be advancing on news company's Ubid unit has entered alliance with Microsoft to create an enhanced user experience for the companies' shared customers.
Nov 13 2001
10:05 AM In Play Corvis (CORV) 2.23 +0.17 (+8.3%): Boosted by positive comments out of CIBC World Markets, saying field trip to company solidifies Corvis' 'engineering mojo.' Firm continues to believe that CORV technology and next gen long-haul architectures will begin to win out over legacy pt-to-pt WDM network equipment for what few capital dollars that may be left for 2002; sales cycle longer for CORV equipment, but increasingly carriers are becoming educated about the benefits of its solution.
Nov 2 2001
2:45 PM In Play Qwest Comms (Q) 11.56 -0.44: -- Update -- Confirms that it has told contractors and vendors working on the company's worldwide network to stop work immediately. Goal is to cut capital expenditures. In intraday note, CSFB says cut may have been anticipated by vendors, but the complete work stoppage was a surprise. Firm expects cuts were made across the board, should impact CIEN, CORV, NT, CIEN, ONIS, JNPR, NT, CSCO, LU.
Oct 31 2001
2:15 PM In Play Telecom Equipment : Decline in optical capacity asset revenue at Qwest (Q -20%) confirms CS First Boston's view of a measured rate of long haul optical network upgrades and limited greenfield deployments during the next 9-12 months. Firm identifies CIEN, CORV, and NT as some of Qwest's major long haul optical suppliers.
Oct 26 2001
9:13 AM In Play Corvis (CORV) 2.32: CSFB downgrades to BUY from Strong Buy rating with a price target of $6, citing uncertain near-term demand; cuts FY02 revenue estimate to $190 mln from $255 mln. |
