Investing
24/7 Wall St. Most Overpaid CEO Of The Day: Ciena (CIEN) CEO Gary Smith
Published:
Last Updated:
Shares 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
Ciena CEO Gary Smith has done quite well lately. In the company’s last fiscal year, he had a base salary of almost $510,000 and total compensation of over $3.2 million.
Smith will probably do just fine this year as well, especially for someone whose company has lost 70% of its market cap.
Douglas A. McIntyre
You worked hard to build a six-figure portfolio. But, you’re aware that building a comfortable retirement not just about saving—it’s about strategy. For example, if you’re not taking taxes into account, you’re missing out on a key input to optimize your wealth. Answer a few simple questions to find a financial advisor who can help you take steps to wield your assets in ways to compound over time. Click here to get started now. (Sponsor)
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.