Ciena Corporation provides communications networking equipment, software, and services that support the transport, switching, aggregation, and management of voice, video, and data traffic. Its optical service delivery and carrier Ethernet service delivery products are used, individually or as part of an integrated solution, in networks operated by communications service providers, cable operators, governments, and enterprises worldwide. Shares of Ciena made gains on Friday in afternoon trading .For more information regarding the most recent information taking place within the Stock Market, make sure to visit the Most Exclusive and Leading in Depth newsletter website at: http://www.wallstreetgrand.com/.
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Shares of Ciena Corp.(NASDAQ:CIEN) rose Friday after an analyst upgraded the stock, saying that he believes its revenue growth forecast will improve once the company completes its acquisition of Nortel's optical networking and carrier Ethernet businesses later this month. Shares of Ciena Corp. rose in afternoon trading from $1.46, or 10 percent, to $15.43.
Nortel, a Canadian telecom equipment maker, filed for Chapter 11 bankruptcy protection in the U.S. and Canada in January 2009. But it soon realized it couldn't restructure successfully and converted into liquidation, selling off its assets piecemeal. The one-time tech highflyer had a heavy debt load, suffered an investigation into its accounting by U.S. regulators and faced tough competition.
About Ciena Corp:
Ciena Corporation provides communications networking equipment, software, and services that support the transport, switching, aggregation, and management of voice, video, and data traffic. Its optical service delivery and carrier Ethernet service delivery products are used, individually or as part of an integrated solution, in networks operated by communications service providers, cable operators, governments, and enterprises worldwide. The company is a network specialist targeting the transition of disparate, legacy communications networks to converged, next-generation architectures, better able to handle increased traffic, and to deliver a mix of high-bandwidth communications services. Its products, along with its service-aware operating system and unified service and transport management, enable service providers to deliver critical enterprise and consumer-oriented communication services. The company’s product offering, together with its professional support and consulting services, seeks to address the business and network needs of its customers. It creates business and operational value for its customers by enhancing network productivity, reducing operating costs, and enabling new and integrated service offerings. The company also provides consulting and support services, including network analysis, planning, and design; network optimization and tuning; project management; deployment; and maintenance and support services. Ciena Corporation was founded in 1992 and is based in Linthicum, Maryland.
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