Morgan Stanley Downgrades Ciena Corporation to Equal-weight

Brokerage firm Morgan Stanley Downgrades its rating on Ciena Corporation(NYSE:CIEN). The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Sep 2, 2016.

Ciena Corporation (CIEN) made into the market gainers list on Thursdays trading session with the shares advancing 8.02% or 1.72 points. Due to strong positive momentum, the stock ended at $23.17, which is also near the day’s high of $23.6. The stock began the session at $22.32 and the volume stood at 1,22,56,635 shares. The 52-week high of the shares is $25.46 and the 52 week low is $15.615. The company has a current market capitalization of $3,200 M and it has 13,81,16,410 shares in outstanding.

Ciena Corporation(CIEN) last announced its earnings results on Jun 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $640.72M. Analysts had an estimated revenue of $630.74M. Earnings per share were $0.34. Analysts had estimated an EPS of $0.27.

Several Insider Transactions has been reported to the SEC. On Aug 23, 2016, Judith M Obrien (director) sold 5,000 shares at $21.55 per share price.Also, On Aug 18, 2016, Francois Locoh-donou (Chief Operating Officer) sold 10,424 shares at $22.00 per share price.On Aug 16, 2016, David M Rothenstein (Sr. VP, General Counsel) sold 2,000 shares at $20.84 per share price, according to the Form-4 filing with the securities and exchange commission.

Ciena Corporation (Ciena) is a provider of communications networking equipment software and services that support the transport switching aggregation and management of voice video and data traffic. The Company operates in four segments: converged packet optical packet networking optical transport and software and services. Its service provider customers include regional national and international wire line and wireless carriers. Its cable operator customers include cable and multiservice operators in the United States and internationally. Its Blue Planet Division provides multi-vendor network management software and service orchestration solutions. Its Blue Planet product portfolio includes software applications including Planet Orchestrate and Planet Operate as well as its software-defined networking (SDN) multilayer wide area network (WAN) controller and its applications V-WAN Agility Matrix and network management solutions.

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