Posts for Ticker ‘CIEN’

Should Ciena Be Pursuing Nortel Assets? (CIEN, NRTLQ)

We have been looking into the report from Ciena Corporation (NASDAQ: CIEN) late this morning that the company is in advanced discussions to acquire substantially all of the optical networking and carrier Ethernet assets of Nortel’s Metro Ethernet Networks business.  And early this afternoon came a press release from Nortel Networks Corporation (OTCBB: NRTLQ) that it is in advanced discussions regarding the planned sale of “substantially all assets within its Optical Networking and Carrier Ethernet businesses globally.”  This is certainly not a done deal, but we want to see if this operation is worth acquiring.  The answer of course is, “It depends upon the price.”  And the good news is that Ciena is not trying to takeover all of Nortel.
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Posted on: October 5, 2009 – 2:05 pm in Mergers and Buy Outs, Telecom, ,

Key Tech Majors Hit New 52-Week Highs (AAPL, BIDU, CIEN, CTXS, EBAY, GOOG, JNPR, TLAB, WDC)

Money Stack ImageBurning Money PicWhile the markets have started to sell off by what feels almost as ’sharply,’ we have noticed late morning that a huge number 0f major technology stocks have hit 52-week highs on an intra-day basis.  Traders used this is a chance to lock in gains.  We have some added color on each below to see where these are coming from and where they were in the past.  In fact, most of these are back to or above pre-Lehman levels…

Apple Inc. (NASDAQ: AAPL) is still positive and shares hit a new high of $186.79 today.  This is the highest level since June-2008 and is still under the highs of January 2008 and December-2007 when Apple was north of $200.00.

Baidu, Inc. (NASDAQ: BIDU) is now down on the day and under $400.00 but the stock hit an intra-day high of $408.00.

Ciena Corp. (NASDAQ: CIEN) hit a new high of $16.63 and is now challenging levels not seen since August and September of last year.

Citrix Systems, Inc. (NASDAQ: CTXS) must be doing well with its Xen virtualization, GoToMeeting and GoToMyPC.  Its shares are still up and it hit a new high of $37.95… highs not seen since February-2008.

eBay Inc. (NASDAQ: EBAY) seems to be carefree over the Skype suit.  This hit a new high of $24.62 today, but keep in mind that this was a $40.00 stock two years ago.

Google Inc. (NASDAQ: GOOG) almost took out $500… The search leader stock is still in positive territory but it was up almost 2% this morning and hit $497.37… Two years ago this was north of $700.00 and we were all goo-goo eyed over whether $900 or $1,000.00 was a reality.

Juniper Networks, Inc. (NASDAQ: JNPR) hit $27.53 this morning and was up close to 2% at the time.  That is up over 100% from year-lows and still well under the $30’s highs of two years ago.

Tellabs Inc. (NASDAQ: TLAB) is back under $7.00 now, but this one hit a high of $7.15 this morning.  Two years ago, this was a $10.00-plus stock.

Western Digital Corp. (NYSE: WDC) is magically back up to $37.00, up a whopping 300% from the death-blow lows over the last year.  This is now within striking distance of its early-2008 highs of $40.00 for one day in June-2008.

Traders are taking advantage of these highs now based on the notion that the future is still not going to be as robust the past and the expectations of growth in the past.  Some of us might even say, they are finally taking advantage of the opportunity to lighten up after monumental gains.

JON C. OGG

Posted on: September 17, 2009 – 1:51 pm in HI/LOW, Technology Companies, Trading Alert, , , , , , , , ,

Top Analyst Downgrades (AXP, BKE, CIEN, ENER, IP, LINTA, RBS, STO, TSM, TIN, VSAT)

These are some of the top analyst downgrades and cautious research calls we have seen from Wall Street early this Tuesday morning:

American Express (AXP) Started as Underperform at RBC.
Buckle (BKE) Cut to Underweight at KeyBanc.
Ciena (CIEN) Cut to Underperform at JMP Securities.
Energy Conversion Devices (ENER) Cut to Hold at Citi; Cut to Neutral at Credit Suisse.
International Paper (IP) Cut to Hold at Deutsche Bank.
Liberty Media (LINTA) Cut to Sell at Citi.
Royal Bank of Scotland (RBS) Cut to Underperform at Credit Suisse.
StatoilHydro (STO) Cut to Hold at Societe Generale.
Taiwan Semiconductor (TSM) Cut To Market Perform at FBR.
Temple-Inland (TIN) Cut to Hold at Deutsche Bank.
ViaSat (VSAT) Cut to Hold at Collins Stewart.

JON C. OGG

Posted on: May 12, 2009 – 6:39 am in Analyst Calls, , , , , , , , , , ,

Top Pre-Market Analyst Downgrades (AMLN, BIIB, CIEN, XOM, GFA, MXIM, BTU, SLT, SPWRA)

Burning_money_picThese are some of the top pre-market downgrades and cautious calls we have seen from Wall Street analysts this Wednesday morning:

  • Amylin Pharmaceuticals (AMLN) Cut to Sell at Canaccord Adams.
  • Biogen Idec (BIIB) Started as Sell at Brean Murray.
  • Ciena (CIEN) Cut to Underperform at Credit Suisse.
  • Exxon Mobil (XOM) Cut to Neutral at UBS.
  • Gafisa (GFA) Cut to Neutral at UBS.
  • Maxim Integrated (MXIM) Cut to Equal Weight at Barclays.
  • Peabody Energy (BTU) Cut to Market Perform at FBR.
  • Sterlite Industries (SLT) Cut to Sell at Citigroup.
  • Sunpower (SPWRA) Cut to Accumulate at ThinkEquity.

Jon C. Ogg
January 28, 2009

Posted on: January 28, 2009 – 8:40 am in Analyst Calls, , , , , , , , ,

Day Trader Alert: Ciena (CIEN)

Ciena Corporation (NASDAQ: CIEN) shares rose this morning after they had been cored to the bone.  Despite its sector woes in telecom equipment and fiber optics, Barron’s called the stock a bargain this weekend on the convergence issues which Cisco and others have been touting for years.  This appears to be a value call with shares trading at under 10-times earnings, but keep in mind that analysts are looking for 2009 earnings to be below 2008.  Shares are nearly 80% off of 52-week highs, with a 52-week trading range of $9.52 to $49.55.  Shares are up almost 9% at $12.25 right before the open.

Jon C. Ogg
September 22, 2008

Posted on: September 22, 2008 – 8:28 am in Technology Companies,

Increased Short Selling in Data-Comm Equipment Stocks (CIEN, CSCO, LVLT, JDSU, JNPR)

With the trends seen lately in communications equipment and data providers because of telecom spending dropping, it is no huge surprise that the short selling has been increasing in some of the stocks in the sector.  Some companies showed declines in short selling, but these are some of the larger companies that showed increases in short sales from mid-August to late in August:

Alternative Energy                          Aug 29         Aug 15      Change
Ciena Corp. (CIEN)                      10,613,944    10,213,947     3.92%
Cisco Systems (CSCO)               61,385,846    60,078,726     2.18%
Level 3 Communications (LVLT)  249,148,929  247,414,113     0.70%
JDS Uniphase Corp. (JDSU)         24,646,634   22,891,958      7.67%
Juniper Networks (JNPR)             29,631,812    26,574,049    11.51%

Jon C. Ogg
September 11, 2008

Posted on: September 11, 2008 – 2:24 pm in Short Interest, Technology Companies, , , , ,

The 52-Week Low Club 9/5/2008 (NOK)(EXC)(SSRI)(CIEN)

Sad_clownNokia (NOK) Company says its market share will drop. Shares fall to $19.25 from 52-week high $42.22.

Exelon (EXC) Weal guidance. Sells off to $65.40 from 52-week high of $92.13.

Silver Standard Resources (SSRI) Price of silver falling. Plunges to $19.10 from $48.16.

Ciena (CIEN) Still falling after bad guidance. Drops to $12.39 from 52-week high of $49.55.

Douglas A. McIntyre

Posted on: September 5, 2008 – 2:46 pm in HI/LOW, , , ,

The 52-Week Low Club 9/4/2008 (TEX)(HL)(MTW)(CIEN)(VRSN)

Sad_clownTerex Corporation (TEX) Bad guidance. Drops to $37.12 from 52-week high of $91.21.

Hecla Mining (HL) Price of silver down. Sells off to $5.79 from 52-week high of $13.14.

The Manitowoc Company (MTW) Hurt by drop in Terex. Dips to $21.62 from 52-week high of $51.49.

Ciena (CIEN) Weak guidance. Plunges to $13 from 52-week high of $49.55.

Verisign (VRSN) Some investors still unhappy with last quarter’s numbers. Falls to $28.15 from 52-week high of $42.50.

Douglas A. McIntyre

Posted on: September 4, 2008 – 2:44 pm in HI/LOW, , , , ,

24/7 Wall St. Most Overpaid CEO Of The Day: Ciena (CIEN) CEO Gary Smith

Cammonopoly_wideweb__430x3250Shares in Ciena (CIEN), a communications equipment company, fell 25% today to a new 52-week low of $13. The period high was $49.55.

As part of its earnings announcement, Ciena said the future looks grim. The firm forecast revenue in its current, fiscal fourth quarter in a range of $190 million to $210 million, dramatically below the market’s prediction of $264 million according to Reuters Estimates

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Posted on: September 4, 2008 – 12:32 pm in Management Change,

Ciena Echoes Telecom & Data Slowdown (CIEN, JDSU)

Ciena_logo_2Ciena Corporation (NASDAQ: CIEN) has come out with earnings and posted a 7% drop in non-GAAP EPS to $0.37 EPS on a 24% revenue rise to $253.2 million. First Call had estimates at $0.37 and $253.6M. Unfortunately the fiber optic and networking company is seeing a slowdown and order delay from its Tier One telecom and data carrier clients.  It has now lowered revenue guidance to $190 to $210 million for its fiscal fourth quarter, which is a far cry from the $263 million expected by analysts in the First Call surveys.

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Posted on: September 4, 2008 – 6:17 am in Earnings, Earnings Warning, Technology Companies, Telecom, ,

Top Pre-Market Analyst Upgrades (BECN, BRNC, CIEN, LLY, ENER, FPL, Q, VRSN)

These are not all of the analyst upgrades or positive calls, but these are some of the calls we are seeing with a possible impact on shares early Monday morning:

  • Beacon Roofing (BECN) Raised to Outperform at Baird.
  • Bronco Drilling (BRNC) Raised to Outperform at Jefferies.
  • Ciena (CIEN) Raies to Outperform at Morgan Keegan.
  • Eli Lilly (LLY) Raised to Neutral at HSBC.
  • Energy Conversion Devices (ENER) Raised to Buy at UBS.
  • FPL Group (FPL) Raised to Overweight at JPMorgan.
  • Qwest (Q) Raised to Buy at Citigroup.
  • VeriSign (VRSN) Raised to Buy from Hold at Jefferies.

Jon C. Ogg
August 11, 2008

Posted on: August 11, 2008 – 6:12 am in Analyst Calls, , , , , , , ,

The 52-Week Low Club 8/7/2008 (NWS)(ANF)(CIEN)

Sad_clownGeo Group (GEO) Drops full-year outlook. Down to $18.47 from 52-week high of $32.93.

Teekay (TK) Market unhappy with quarterly results. Falls to $33.13 from 52-week high of $62.61.

Abercrombie & Fitch (ANF) Bad same-store sales. Sells off to $49.29 from 52-week high of $85.77.

News Corp (NWS) Fear that advertising sales will keep falling. Down to $13.93 from $24.95.

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Posted on: August 7, 2008 – 2:34 pm in HI/LOW, , , , ,

The 52-Week Low Club (NR)(KBR)(MTW)(TIE)(CHIC)(SIRI)(CIEN)

Sad_clown_2Western Refining (WNR) Snag at one of the company’s units and falling oil prices gang up. Drops to $6.47 from 52-week high of $58.95.

KBR (KBR) Rough earnings numbers. Down to $22.94 from 52-week high of $45.24.

The Manitowoc Company (MTW) Sells a unit and that could hurt earnings. Sell off to $23 from 52-week high of $51.49.

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Posted on: August 4, 2008 – 2:52 pm in HI/LOW, , , , , , ,

Top Pre-Market Analyst Downgrades (ADCT, ADTN, CBI, CIEN, CSCO, PAC, OESX, SAI, TWTC, USB, VRAZ)

These aren’t all of the downgrades or negative analyst calls we have seen this Wednesday, but these are some of the impact analyst calls we are seeing:

  • ADC Telecommunications (NASDAQ: ADCT) Cut to Neutral from Outperform at Credit Suisse.
  • Adtran (NASDAQ: ADTN) Cut to Underperform from Neutral at Credit Suisse.
  • Chicago Bridge & Iron (NYSE: CBI) Cut to Neutral at JPMorgan.
  • Ciena (NASDAQ: CIEN) Cut to Underperform from Outperform at Credit Suisse.
  • Cisco Systems (NASDAQ: CSCO) Cut to Neutral from Outperform at Credit Suisse.
  • Grupo Aeroportuario (NYSE: PAC) Cut to Sell from Neutral at Goldman Sachs.
  • Orion Energy Systems (NASDAQ: OESX) Cut to Market Weight at Thomas Weisel.
  • SAIC (NYSE: SAI) Cut to Neutral from Outperform at Cowen.
  • TW Telecom (NASDAQ: TWTC) Cut to Underweight from Overweight at JPMorgan.
  • US Bancorp (NYSE: USB) Cut to Sell from Hold at Deutsche Bank.
  • Veraz Networks (NASDAQ: VRAZ) Cut to Underperform from Hold at Jefferies.

Jon C. Ogg
July 16, 2008

Posted on: July 16, 2008 – 6:44 am in Analyst Calls, , , , , , , , , , ,

Top Early Analyst Upgrades (CIEN, DF, GENZ, LPX, M, TAP, NOV, OC, VRTX)

These are some of the preliminary upgrades or positive research calls seen out of Wall Street analysts this Monday morning in early morning hours:

  • Ciena (NASDAQ: CIEN) raised to Market Perform at JMP Securities.
  • Dean Foods (NYSE: DF) Raised to Overweight at JPMorgan.
  • Genzyme (NASDAQ: GENZ) Raised to Buy from Hold at Citigroup.
  • Louisiana Pacific (NYSE: LPX) Raised To Sector Perform from Underperform at RBC.
  • Macy’s (NYSE: M) Raised to Neutral from Underweight at JPMorgan.
  • Molson Coors (NYSE: TAP) Raised to Buy from Hold at Deutsche Bank.
  • National Oilwell Varco (NYSE: NOV) Raised to Buy at Banc of America.
  • Owens Corning (NYSE: OC) Raised to Outperform at Morgan Keegan.
  • Vertex Pharma (NASDAQ: VRTX) Started as Overweight at Thomas Weisel.

Jon C. Ogg
July 14, 2008

Posted on: July 14, 2008 – 6:27 am in Analyst Calls, , , , , , , , ,

Ciena, Maintains Strength in Weak Climate (CIEN)

Ciena Corp. (NASDAQ: CIEN) is one of the few bright spots out there in the market this morning.  The company beat earnings expectations by posting $0.47 EPS and revenues were up over 37% from the same quarter last year to $227.4 million.  First Call had estimates at $0.40 EPS and $225.6 million in revenues.

The company is noting that indications from customers suggest no change in the strength of its business and it remains optimistic about the year.  While this includes the gains from the buyout of World Wide Packets, the company expects annual revenue growth of up to 27% in 2008.

Ciena shares are up 4% at $26.00 in active pre-market trading and the company’s 52-week trading range for the stock is $21.40 to $49.55.

Jon C. Ogg
March 7, 2008

Posted on: March 7, 2008 – 9:01 am in Earnings, Technology Companies, ,

The 52-Week Low Club (PALM) (MOT)

Palm (PALM) Already weak company in the same sector as iPhone, Dragged down by bad news from Apple (AAPL). Falls to $4.25 from 52-week high of $19.50.

Human Genome Sciences (HGSI) Clinical trials set-back. Falls to $5.22 from 52-week high of $12.12.

Ciena (CIEN) Market does not like latest acquisition. Trades off to $21.40 from 52-week high of $49.55.

Motorola (MOT) Just when no one thought it could get worse. Shares drop to $9.43 from 52-week high of $19.98.

Qimonda Ag (QI) Weak results and downgrades for semiconductor company. Falls off to $3.51 from 52-week high of $17.29.

Douglas A. McIntyre

Posted on: January 23, 2008 – 4:01 pm in HI/LOW, , , , , ,

Pre-Market Analyst Calls (October 4, 2007)

AAPL started as Buy at BMO Capital.
AVR cut to Neutral at JPMorgan.
BIOF cut to Neutral at JPMorgan.
CHIC cut to Neutral at JPMorgan.
CIEN raised to Neutral at UBS.
COO cut to Underperform at Bear Stearns.
ENDP cut to Hold at Jefferies.
ESL cut to Neutral at JPMorgan.
FCL started as Outperform at FBR.
FISV raised to Overweight at JPMorgan.
HANS cut to Neutral at Goldman Sachs (see full note).
LIFC raised to Outperform at Piper Jaffray.
MOT target raised to $22 at Lehman.
MPWR raised to Buy at Goldman Sachs.
MXIM raised to Buy at Goldman Sachs.
MYL raised to Overweight at JPMorgan.
NGLS removed from Goldman Sachs conviction buy list.
NHY raised to Overweight at JPMorgan.
NTRI cut to Hold at Lazard.
PNRA raised to Overweight at JPMorgan.
RAD raised to Neutral at HSBC.
SAP raised to Buy at Sun Trust; downgraded at Bernstein.
SHW raised to Buy at UBS.
SLAB cut to Hold at Citigroup.
SPF raised to Neutral at UBS.
WFT cut to Neutral at B of A.
WTSLA cut to Neutral at JPMorgan.
X started as Underweight at JPMorgan.

Wachovia initiated major technology companies today, but it appears that this was part of the A.G.Edwards transitioning this week (AMD, INTC, TXN, DELL, IBM, HPQ, NOK, QCOM, BRCM, MOT, JAVA).  Here is a full list.

Jon C. Ogg
October 4, 2007

Posted on: October 4, 2007 – 7:00 am in Analyst Calls, , , , , , , , , , , , , ,

Pre-Market Analyst Calls (Oct. 3, 2007)

AMD started as Underweight at Morgan Stanley.
APH started as Buy at B of A.
ARW started as Neutral at B of A.
AVGN started as Neutral at Credit Suisse.
AVT started as Neutral at B of A.
CIEN raised estimates at Goldman Sachs; raised to Buy at Merrill Lynch.
CNX started as Buy at UBS.
CRL raised to Buy at UBS.
CVD cut to Peer Perform at Bear Stearns.
CYT cut to Hold at Jefferies.
CXG started as Buy at UBS.
DVAX started as Outperform at Credit Suisse.
GM raised to Neutral at B of A.
GMCR started as Outperform at Piper Jaffray.
GME cut to Hold at Citigroup.
GWW started as Neutral at B of A.
IART started as Outperform at RBC.
INTC started as Underweight at Morgan Stanley.
KALU raised to Outperform at Bear Stearns.
MOLX cut to Neutral at B of A.
MSM started as Neutral at B of A.
NDAQ started as Buy at Jefferies.
NRGN started as Neutral at Credit Suisse.
NVDA started as underweight at Morgan Stanley.
NVT cut to Neutral at B of A.
PH cut to Sell at UBS.
PMCS raised to Overweight at Morgan Stanley.
RIMM target raised to $100 at Credit Suisse.
RIO cut to Neutral at JPMorgan.
SKT started as Neutral at Goldman Sachs.
SVNT started as Outperform at Credit Suisse.
TD cut to Peer Perform at CIBC.
TKC raised to Buy at Merrill Lynch.
TEL started as Buy at B of A.
TIN raised to Overweight at Lehman.
WCC started as Buy at B of A.

Jon C. Ogg
October 3, 2007

Posted on: October 3, 2007 – 7:06 am in Analyst Calls, , , , , , , , , , , , ,

Ciena Jumps Up On Good Numbers

Ciena (CIEN) network specialist, announced results for its fiscal third quarter ended July 31, 2007. Revenue for the third quarter totaled $205.0 million, an increase of 34.4% over the same period a year ago when the firm reported sales of $152.5 million.

Ciena’s net income for the fiscal third quarter 2007 was $28.3 million, or $0.29 per diluted share. compared with a reported GAAP net loss of $4.3 million, or a loss of $0.05 per share, for the same period a year ago.

"Consistent execution of our network specialist strategy has enabled Ciena to benefit from two significant industry trends: the demand for increasing network capacity and the transition to Ethernet/IP-based network infrastructures," said Gary Smith, Ciena president and CEO

Shares are up almost 7% in the pre-market to $40.82, which means the company could open at a 52-week high.

Douglas A. McIntyre

Posted on: August 30, 2007 – 6:35 am in Earnings,