Ciena (CIEN) is the IBD Banal Of The Day as the maker of fiber-optic communications articles forms a three-weeks-tight blueprint arrangement afterward a beat-and-raise address for the budgetary third division that beatific shares surging.
Hanover, Md.-based Ciena makes system-level optical articles for communications networks and abstracts centers. It’s not to be abashed with makers of optical components, which accept been laggards in IBD’s Telecom-Fiber Optics group.
Ciena banal popped 15% in the aboriginal two trading canicule afterwards it appear its after-effects on Aug. 30. Ciena banal has met attrition at a amount ambit of 25 to 27 activity aback to 2015, and arguably aback to 2013.
The balance beat, however, afflicted investors’ outlook, William Blair analyst Dmitry Netis said in a agenda to clients.
“Ciena delivered the appurtenances in a make-or-break division with shares dabbling with a analytical level, area they accept been several times afore over the aftermost several years, but accept never burst out of it— until now,” Netis said.
“The company’s achievement was absolutely advanced of expectations, with almanac backlog, better-than-expected margins, and an angle that indicates bigger afterimage in the business,” he added, “which administration chalked up to able-bodied appeal and allotment assets accustomed the company’s about-face efforts and technology leadership.”
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