Telecom-equipment maker, Ciena Corporation (NASDAQ: CIEN) reported on Wednesday that fiscal third quarter loss narrowed as the bottom line was bolstered by higher revenue and wider margin. Shares rallied as both revenue and earnings beat analysts’ expectations. In addition, the Company also handed strong guidance for the current quarter. The Company anticipates revenue of $550 million to $580 million while Street’s consensus estimate was of $551 million. Revenue from equipment business rose 17% to $437.4 million while revenue from services edged up slightly to $100.9 million, in the latest period. Overall, revenue increased 14% to $538.4 million. Gross margin widened to 42.4% from 38.2%.
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Major Movers on June 6; ASNA, QIWIQ, FRAN, PAY, CIEN
Shares of Ascena Retail Group Inc. (NASDAQ: ASNA) slumped about 10.30% by afternoon trade. The specialty retailer missed analysts’ estimates for the fiscal third quarter. Ascena Retail said on Wednesday that it earned (non-GAAP income) 26 cents a share compared to 34 cents a share, in the year earlier quarter. Net sales jumped 46% to $1.14 billion from $783 million, in the year-earlier quarter. Revenue was boosted by recently acquired Lane Bryant and Catherines businesses. Analysts surveyed by Thomson Reuters were expecting earnings of 30 cents a share on revenue of $1.17. The Company reiterated its full-year earnings guidance of $1.10 to $1.15 a share.
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Ciena Provides Upbeat Q3 Revenue Guidance (CIEN)
Networking equipment and software solutions provider, Ciena Corporation (NASDAQ: CIEN) said on Thursday that fiscal second quarter loss narrowed, aided by higher revenue and improved gross margin.
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Ciena Corporation Shares Surge on Q1 Results (CIEN)
Shares of Ciena Corporation (NASDAQ: CIEN), a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic, have surged in trading today after the company reported its financial results for the first quarter ended January 31, 2013.
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Major Movers on March 7; HOTT, SMTC, PETM, SFD, KR, CIEN, TWX
Shares of Hot Topic (NASDAQ: HOTT) skyrocketed 30% after the teen retailer said it has agreed to be taken private by private-equity firm Sycamore Partners in a deal estimated at $600 million in cash, which represents about30% premium over Wednesday’s closing price of the stock.
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Ciena Corp. Shares Gain on Q4 Results (CIEN)
Shares of Ciena Corp. (NASDAQ: CIEN), a manufacturer of dense wavelength division multiplexing systems, rose sharply in trading today after the company announced its fourth-quarter financial results.
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Major Gainers and Losers in Early Trading on November 7; TWX, TDS, CIEN, ACI, APKT, ANR
Shares of Time Warner Inc. (NYSE: TWX), media and entertainment company operating in three segments; Networks, Filmed Entertainment and Publishing, are up sharply in early trading today. At last check, TWX shares were trading 3.48% higher at $44.61 on volume of 1.82 million. The stock hit an intra-day high of $45.14.
Major Gainers and Losers on August 30; SRPT, CIEN, SHLD, VC, TGT, FB
Shares of Sarepta Therapeutics Inc. (NASDAQ: SRPT), a biopharmaceutical company focused on rapidly advancing the development of its disease-modifying Duchenne muscular dystrophy drug candidates, surged in trading today.
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Ciena Shares Surge as Q2 Loss Narrows (CIEN)
Shares of Ciena Corporation (NASDAQ: CIEN) surged on Thursday after the Linthicum, Maryland-based company said that its second-quarter loss narrowed as revenue rose 14%.
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