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Technology Stocks : PairGain Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Kansas George who wrote (26871)	11/2/1998 6:27:00 PM
From: BMcV	Respond to of 36349

from Motley Fool fnews.yahoo.com Nov 02, 1998 (6:02 PM ET) - The Motley Fool Evening News Telecommunications network capacity company Ciena Corp. (Nasdaq:CIEN - news) picked up $4 5/8 to $21 13/16 on speculation that the firm will soon announce that it has signed a new supply contract with a telecommunications carrier. Rumors have also resurfaced in recent days suggesting the company is a takeover target. The most often mentioned potential suitor is Tellabs (Nasdaq:TLAB - news) , which unsuccessfully tried to acquire Ciena earlier this summer. Tellabs CEO Michael Birck helped rekindle the merger speculation a few weeks back when he told CNBC that Ciena is "seemingly attractive." Now, traders in Ciena's shares appear to be hanging onto that quote for all it's worth, much like the character Linus clings to his security blanket in the comic strip "Peanuts." Further acquisition rumors also swept up the shares of digital subscriber line (DSL) networking systems firm PairGain Technologies (Nasdaq:PAIR - news) , which ended the day up $5 13/32 at $13 5/8.