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

To: Frank A. Coluccio who wrote (4435)	10/19/1998 9:04:00 PM
From: Tom Gebing	Read Replies (2) \| Respond to of 12623

I think this explains the interpretation of the CNBC comments today...... Ciena Corp. (Nasdaq: CIEN) gained $2 13/16 to $12 1/8 as a feeding frenzy ensued after a broad, noncommital comment by Tellabs (Nasdaq: TLAB) CEO Michael Birck that indicated Tellabs hasn't ruled out making another bid to acquire the maker of equipment that boosts the capacity of telecommunications networks. Just over a month ago, the two called off their proposed merger amicably, with neither owing the other a break-up fee. The decision came after Ciena announced that previously expected contracts from AT&T (NYSE: T) and privately held Digital Teleport had fallen through, and that Q4 results would be "materially below" those of Q3, and 1999 year-on-year revenue and earnings growth would be "modest." But the "news" today was hardly new, considering Birck said during the conference call announcing the merger termination that he planned to "carry on conversations in the future" with Ciena and talk again "after the dust settles." Tellabs moved up $2 15/16 to $47 7/8. go2net.newsalert.com