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To: Clint E. who wrote (15751)	4/29/1998 2:38:00 PM
From: j g cordes	Respond to of 69811

Last day of month tomorrow.. new money gets set.. all these games to have to watch for. Here's a cute site on sectors... not too bad.. shoot puts at the reddest.. wait to take long in the greenest. securitytrader.com

To: Clint E. who wrote (15751)	4/29/1998 2:42:00 PM
From: Johnny Canuck	Read Replies (2) \| Respond to of 69811

Clint, CIEN still has a long way to go before they can make back the business currently delayed by WCOM/MCI. It sure is interesting watching the amount of hype and expectation around this stock though. Harry ********************************* briefing.com CIENA CORP. (CIEN) 50 1/2 +2 1/16. The stock of dense wavelength division multiplexing (DWDM) systems for long-distance and local exchange carriers is getting a lift today after CIENA announced that Hermes Europe Railtel had signed a one year exclusive contract for its equipment. The contract will enable CIENA to supply its MultiWave Sentry 4000 dense wavelength division multiplexing system to the Hermes network. The Hermes Europe Railtel network is Europe's largest carrier's carrier network, reselling bandwidth to other service providers. Accordingly, the contract news has prompted Merrill Lynch to turn a bit more bullish on the stock, although it remains cautious short-term that results in CIENA's fiscal Q2 will be off the pace set last year, hurt by order delays announced by the company's two main customers. Nonetheless, the firm does upgrade the stock from a near-term "neutral" to "accumulate" on the view that investors will gauge CIENA's success on its current contract awards and not entirely on its bottom line results. The firm maintains its long-term "accumulate" rating on the stock while retaining its price target at $55 a share. While CIENA did not provide a value to the contract being awarded by Hermes, Merrill believes the award is worth between $10 million and $15 million. Since the company warned about its Q2 results, the stock has been relegated to the mid-$40s price range after trading in the high-$50s before its earnings warning. However, in recent weeks, the stock has started to regain investors' confidence, making its way back to the $50 level, a price level not experienced since its mid-February warning. While the results for the Q2 are not expected to be pretty when CIENA reports next month, the longer-term view is still positive with full-year 1998 earnings projected to expand by 25% from a year-ago.