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Seeking Alpha (Free subscription) | yesterday
Tsachy Mishal submits: Ciena (CIEN) is a great example of what can happen to a stock in a bear market. The stock was already down from 48 to 17 before their earnings announcement (see conference call transcript ). The stock was trading at 8 times next year's expected earnings when you exclude net cash. It seemed like the stock was already pricing in some sort of disappointment. Ciena gave negative...
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Seeking Alpha (Free subscription) | 09/05/2008
Andrew Schmitt submits: Sacred cows are always slaughtered last. Ciena (CIEN) gave the equity markets an unwelcome surprise yesterday and triggered a broad market sell off in the sector. This event challenges Ciena’s status as a sector favorite as well as the perception that a video boom will save us all. Complete Story »
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The Street (Free subscription) | 09/05/2008
Companies, consumers rein in spending, putting a dent in tech funds.
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Market Watch (Free subscription) | 09/05/2008
Nokia’s warning of a weaker third quarter is not isolated to the mobile-phone company itself: Stiff competition and sluggish growth are symptoms afflicting every manufacturer in the telecommunications-equipment sector.
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Nyquist Capital (Free subscription) | 09/05/2008
Sacred cows are always slaughtered last. Ciena gave the equity markets an unwelcome surprise yesterday and triggered a broad market sell off in the sector. This event challenges Ciena’s status as a sector favorite as well as the perception that a video boom will save us all.
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CNNMoney.com (Free subscription) | 09/05/2008
Tight-fisted consumers, budget-constrained IT departments and cash-hoarding phone companies are squeezing the tech sector, as an economic slowdown gains momentum in the United States and abroad.
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cellular-news (Free subscription) | 09/05/2008
Companies that sell networking gear to telecommunications-service providers face a tough couple of quarters.
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Seeking Alpha (Free subscription) | 09/05/2008
David Fry ( ETF Digest ) submits: Mr. Market stopped in for a few belts and came out one nasty bear and beat bulls mercilessly. Complete Story »
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atHome Top Story (Free subscription) | 09/05/2008
Investors ditched stocks across the board yesterday amid growing concerns about the global economy, leaving Canadian stocks with a brutal 7 per cent drop in just three days.
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Baltimore Sun (Free subscription) | 09/05/2008
Order delays contribute to Linthicum company's biggest drop in seven years as fourth-quarter revenue forecast trails estimates Linthicum-based Ciena Corp., the maker of network equipment for AT&T Inc., yesterday had its biggest drop in Nasdaq trading in seven years after its fourth-quarter revenue forecast trailed analysts' estimates as customers delayed orders.
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Washington Post (Free subscription) | 09/05/2008
Shares of Ciena took a hammering yesterday, losing nearly a quarter of their value after the Linthicum Heights company announced a decline in third-quarter profit and warned of a sales slowdown.
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Star Tribune (Free subscription) | 09/05/2008
"There was a thought [that ADC] would lower the guidance with what happened with Ciena," said Ken Muth, an analyst at Robert W. Baird & Co. in Milwaukee. He has a "neutral" rating on ADC shares and doesn't own any. "The numbers aren't going lower, which is always the fear in today's world."
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World of stocks (Free subscription) | 09/05/2008
TheStreet.com Booyah! Newsletter Cramer's 'Mad Money' Recap: Hopeful Signs on a Brutal Day Dagger Day for Stocks, Down 3% All Around 9/4/2008 4:27 PM EDT Ciena Plunges After Weak Outlook 9/4/2008 10:37 AM EDT Merrill Making a Big Bet on Mortgages 9/4/2008 11:45 AM EDT Oil Prices Slip on New EIA Data Crude prices are falling at the New York Mercantile Exchange Thursday after the Energy Information Administration...
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Boston Globe (Free subscription) | 09/05/2008
Yahoo Inc.'s stock sunk to its lowest level in nearly five years Thursday, magnifying the challenge facing the Internet company as its management tries to justify their rebuff of Microsoft Corp.'s $47.5 billion takeover bid.
