Verizon network upgrade plan boosts Ciena shares

May 11th, 2012

FAKE NEWS for the Zionist agenda

NEW YORK (AP) — Shares of communications network equipment maker Ciena jumped Friday after Verizon said it will use the company’s technology as it upgrades its global optical network.

THE SPARK: Verizon Communications Inc., one of the country’s biggest telecommunications companies, said Friday it plans to improve its network in an effort to offer more services to corporate customers, particularly in industries like health care, retail and financial services. It is using Ciena’s 5430 optical switching system, which helps improve high-speed Internet services.

THE ANALYSIS: Citi Investment Research analyst Kevin Dennean said the announcement helps Ciena on several fronts. It allays concerns that the company’s technology isn’t being accepted by customers and should give investors better confidence in Ciena’s long-term growth opportunities. He also said the development also makes it less likely that Ciena will give a weak outlook for the quarter ending in July.

He kept his “Buy” rating and $18 price target on the stock.

SHARE ACTION: Ciena shares rose 99 cents, or 8.2 percent, to $13.05 in afternoon trading. Stock of the Linthicum, Md., company had been flat since the beginning of the year.