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

To: JC Reddy who wrote (5356)	11/6/1998 7:18:00 PM
From: Edward Ip	Respond to of 12623

The Bull Market Report: The Week That Was - A Weekly Recap WASHINGTON--(BUSINESS WIRE)--Nov. 6, 1998--The Bull Market Report, a daily financial newsletter, released their weekly recap on Friday. For the full report, go to their web site at bull-market.com. MONDAY: U.S. STOCKS CONTINUE STRONG ADVANCE The big winners were the internet stocks and the small caps. Yahoo (NASDAQ:YHOO) led the way again, up almost $15 or 11% to close at a new all-time high of $145. Amazon (NASDAQ:AMZN) was big too, but not as big as Yahoo. It closed up $4 1/2 to $131. AOL continues to be huge, up $7 1/2 to $135. Remember, if you don't have enough of these stocks, there is still plenty of time to buy them as long as you have a long term horizon. Investors are paying for the year 2000 and 2001 earnings for some of these stocks. In our opinion, it will be worth the wait. Mary Meeker, the famous internet analyst from Morgan Stanley, says that Yahoo could become the next Microsoft! (NASDAQ:MSFT) After the way the markets reacted around the world today, we are looking for a continuation of higher prices as we march into Fall. IN THIS ISSUE: ETRADE (NASDAQ:EGRP) IN PACT WITH MORNINGSTAR ONLINE HOLIDAY SHOPPING TO HIT $2.3 BILLION MERRILL LYNCH (NYSE:MER) OPENS RESEARCH TO ALL AMERICAN AIRLINES (NYSE:AMR) LOAD FACTOR AND TRAFFIC RISE CITIGROUP (NYSE:CCI) DOWNGRADED (We don't buy this opinion!) TUESDAY: U.S. STOCKS END VIRTUALLY UNCHANGED IN QUIET DAY The stock with the largest market capitalization in the world has gone from $69 to $89 THIS MONTH. It just goes to show us, again, that QUALITY RULES on Wall Street. And we all know which company this is, right? General Electric (NYSE:GE) of course! CIENA (NASDAQ:CIEN) AND CISCO (NASDAQ:CSCO) TO BUILD HI-SPEED NETWORK COCA-COLA (NYSE:KO) TO SELL WATER IOMEGA (NYSE:IOM) EXPANDS ZIP DRIVE USE BEYOND PC'S COMMENT: We have always liked Cisco and have been quite partial to Ciena, but sold our positions at $62, after the merger was announced with Tellabs (TLAB.) We now add Ciena again. We are adding them to our Aggressive List and removing Uniphase (NASDAQ:UNPH). Ciena's business is solid and the unfortunate events of the failed merger and the loss of the ATT deal (that they never actually had), is what hurt the stock so badly. Ciena is in the right place at the right time and is in a great business. For those of you that don't know what they do, Ciena's equipment can increase the capacity of a fiber optic cable by a factor of 40! So instead of digging up their cables and laying 39 new ones, the large telecommunications carriers can simply order Ciena equipment. Much cheaper, much simpler and much more effective. And the need for capacity to handle the growth of the Internet is exploding. This is why Ciena has grown at a compounded rate of over 100% per year for the past few years and their profitability is huge. There is certainly risk in this stock. It is not for the faint of heart, but for the patient investor. Ciena closed today at $18 and that is where we add it. WEDNESDAY: U.S. STOCKS GAIN; WALL STREET PLEASED WITH ELECTION RESULTS Some 5 percenters included Lucent (NYSE:LU) and Intel (NASDAQ:INTC); some 4 percenters, E-trade, MCI WorldCom (NASDAQ:WCOM), Broadcom (NASD:BRCM), Ascend (NASDAQ:ASND) and Netscape (NASDAQ:NSCP); some 3 percenters included Cisco and Amazon, and a 6 percenter - Yahoo, closed up $9 to a new all-time high of $151. This is very big. Yahoo is now worth $14 billion!! But the biggest gain of all the stocks we follow was Charlie Schwab (NYSE:SCH) - up 9% to close at 54, an all-time high. We bought it originally at 39 in September and had a price target of 55. We hereby raise the price target in the next 12 months to $70. FREDDIE MAC (NYSE:FRE) TO RAISE $850 MILLION GAP (NYSE:GPS) ADDS THREE E-TAIL SITES PC SALES IN EUROPE SURGE MICROSOFT AND MERRILL TIE UP AOL (NYSE:AOL) STARTED AS STRONG BUY STRATEGIC CHANGES IN OUR PORTFOLIOS DEPARTMENT "MICROSOFT MUSINGS" from THE HIGH TECH ARENA - a Special Report THURSDAY: See web site for news on Wells Fargo (NYSE:WFC), Chase Manhattan (NYSE:CMB), Compaq (NYSE:CPQ), Oracle (NASDAQ:ORCL) and Cendant (NYSE:CD) FRIDAY: Not published yet! For a copy of this complete issue, which also contains reviews on other corporate news, and for back issues for the past year, use the web at bull-market.com. There is a no charge for the newsletter. There are currently over 10,000 subscribers. The Bull Market Report is a premier investment newsletter delivered daily via email serving serious long-term investors. The newsletter publishes current news and commentary about companies that create wealth, and is read by top money managers, brokers and individual investors. --30--MF/ph CONTACT: The Bull Market Report Jack Eckmann, Editor and CEO, 503/636-8155 Jackbull-market.com bull-market.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com (c) 1998 Business Wire