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To: Richard H. who wrote (1358)2/20/1998 10:37:00 PM
From: Gary Korn
   of 12603
 
2/20/98 Select Fed. Filings Newswires 17:26:00
Federal Filings Newswires
Copyright (c) 1998, Dow Jones & Company, Inc.

Friday, February 20, 1998

Holder Registers CIENA CORP. Stock
FORM 144
ISSUER: CIENA CORP.
SYMBOL: CIEN
FILER: KEVIN KIMBERLIN PARTNERS LP
TITLE: None
BROKER: SPENCER TRASK SECURITIES INC
SHARES REGISTERED: 1,250,000 DATE REGISTERED: 02/17/98
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

(END) FEDERAL FILINGS-DOW JONES NEWS 02-20-98


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To: Richard H. who wrote (1358)2/20/1998 10:38:00 PM
From: Gary Korn
   of 12603
 
2/20/98 Prof. Inv. Rep. 08:17:00
Professional Investor Report
Copyright (c) 1998, Dow Jones & Company, Inc.

Friday, February 20, 1998

Analysts' Highest-, Lowest-Rated Stocks: Communications Tech
This is a daily ranking of the five highest-rated
stocks and the five lowest-rated stocks within the
Communications Tech industry, based on analysts'
recommendations contributed within the past month to First
Call's database. To be included on the list, a company must
be rated by at least five analysts.
Also included in the list are First Call analysts'
estimates for the companies' current quarters. Estimates are
operating income per share based on a survey of analysts.
First Call Consensus Recommendation Scale
1.0-2.4 = Buy
2.5-3.4 = Hold
3.5-5.0 = Sell

Most Attractive Issues
----------------------
Latest # Analysts First Call # Analysts
Consensus Covering EPS Estimate Covering
--------- ---------- ------------ ----------
(Q: ANIC) 1.0 5 $0.11 1Q 4
(Q: DAVX) 1.0 6 $0.30 1Q 6
(Q: CMVT) 1.0 7 $0.42 4Q 7
(Q: CIEN) 1.1 7 $0.35 1Q 8

(Q: GILTF) 1.2 5 $0.50 4Q 6
Least Attractive Issues
-----------------------
Latest # Analysts First Call # Analysts
Consensus Covering EPS Estimate Covering
--------- ---------- ------------ ----------
(N: NWK) 3.0 6 $0.11 4Q 6
(Q: PCTL) 2.9 8 ($0.13) 4Q 4
(Q: ANAD) 2.9 7 ($0.03) 1Q 6
(N: CS) 2.8 24 $0.16 4Q 20
(N: GIC) 2.8 12 $0.10 4Q 14


(END) Dow Jones Newswires 02-20-98


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To: Richard H. who wrote (1358)2/20/1998 10:39:00 PM
From: Gary Korn
   of 12603
 
2/20/98 Dow Jones News Serv. 08:13:00
Dow Jones News Service
Copyright (c) 1998, Dow Jones & Company, Inc.

Friday, February 20, 1998

*UBS Securities Starts Ciena Corp. With Hold Rating -- CIEN

(END) DOW JONES NEWS 02-20-98


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To: Richard H. who wrote (1358)2/20/1998 10:43:00 PM
From: Gary Korn
   of 12603
 
2/20/98 Prof. Inv. Rep. 16:52:00

Professional Investor Report
Copyright (c) 1998, Dow Jones & Company, Inc.

Friday, February 20, 1998

NMS Share Volume Most Actives At 4:50 P.M.
Stock Net Chg Last Volume Net Tick Vol
---------- --------- --------- ----------- ------------
CIEN -16 1/8 42 27,531,000 - 1,434,200
INTC + 1 1/4 91 13/16 24,614,900 + 889,700
DELL + 3 9/16 126 5/16 15,613,000 - 597,200
AMAT - 1 5/16 36 3/8 11,048,300 - 816,200
MSFT + 1/4 155 1/8 10,755,500 - 1,004,000
WCOM + 9/16 39 10,129,700 - 230,600
ORCL - 3/16 25 1/8 9,845,900 - 175,300
ASND + 1/2 35 1/2 9,693,400 + 1,365,400
CSCO + 3/8 65 13/16 8,519,700 - 360,000

ADPT - 2 5/16 23 5/16 8,195,000 - 570,700
SMOD - 5 13/16 30 3/16 6,941,000 - 359,200
SUNW - 3/4 46 1/4 5,994,100 + 564,800
TALK + 2 29/32 27 11/16 5,484,400 + 204,400
COMS - 3/8 33 3/16 5,402,600 + 106,700
MCIC + 3/8 48 1/4 5,060,000 - 320,200
OXHP + 1 1/16 20 3/16 4,658,000 - 443,200
HRSH -10 3/8 11 1/4 4,401,300 - 980,600
VLSI - 2 3/16 23 1/2 4,141,000 - 21,400
TCOMA + 1/16 29 1/2 4,058,200 - 133,600
NVLS - 1/2 43 3/4 3,856,000 + 363,300

(END) Dow Jones Newswires 02-20-98


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To: Richard H. who wrote (1358)2/20/1998 10:45:00 PM
From: Gary Korn
   of 12603
 
2/20/98 Wall St. J. (Page Number Unavailable Online)

1998 WL-WSJ 3483604

The Wall Street Journal
Copyright (c) 1998, Dow Jones & Company, Inc.

Friday, February 20, 1998

Technology & Health

Ciena Net Soars, But Stock Plunges Due to Forecast
By Gregory Zuckerman
Staff Reporter of The Wall Street Journal

Ciena Corp., a telecommunications-equipment supplier, reported that fiscal first-quarter earnings tripled, but warned that second-quarter profit will likely be lower than expected as a result of reduced orders from WorldCom Inc.

The announcement, made after the markets closed, sent Ciena's shares tumbling in after-hours trading. Before the announcement, Ciena shares rose $3.125 to $58.125 on the Nasdaq Stock Market yesterday, but in after-hours trading, the
stock plunged to $46.

The Linthicum, Md., supplier of high-speed systems for long-distance and local-exchange carriers said that a shift by WorldCom to just-in-time bandwidth-deployment ordering will result in "a substantial reduction in system requirements from Ciena during fiscal year 1998." Ciena wouldn't quantify how the reduced WorldCom orders will affect future earnings.

But company executives acknowledged that the WorldCom decision, relayed to Ciena earlier this week, puts the company's earnings outlook in doubt.

"We're comfortable with consensus revenue expectations of $603 million for fiscal year 1998, but the $1.47 a share [First Call Corp. consensus of analysts' estimates] is uncertain given the new news from WorldCom," said Suzanne DuLong, Ciena's director of investor relations.

John Sidgmore, WorldCom's chief operating officer, said, "During 1997, Ciena delivered more capacity and at a faster rate than we frankly thought was possible. As a result, our long-distance capacity deployment is ahead of schedule."


Ciena said it plans to make up for the expected lost revenue caused by the WorldCom shift by increasing revenues from existing and potential customers. The company also said that "significant purchasing" from WorldCom could resume in the latter part of the year.

For the quarter ended Jan. 31, Ciena net income jumped to $39.8 million from $13.1 million a year earlier. Diluted per-share earnings, or net divided by common shares outstanding plus potential common shares from securities such as options, increased to 37 cents from 13 cents. Ciena's basic per-share earnings, or net divided by shares outstanding, fell to 40 cents from 99 cents. The results for the first quarter were ahead of a First Call consensus of analysts' estimates.

Ciena's revenue for the quarter more than doubled to $134.3 million from $53.9 million.

Ciena shares have shown strength in recent weeks, despite a new-product introduction from competitor Lucent Technologies Inc. that some say could hurt Ciena. Separately, AT&T Corp. is considering purchasing Ciena's telecommunications system, although the size and timing of any purchases from Ciena remain unpredictable, Ciena said yesterday. AT&T is not a current
customer of Ciena.


Ciena recently announced the acquisition of closely held ATI Telecom International of Norcross, Ga., for $52.5 million in stock. The company said the deal is expected to add moderately to 1998 earnings.


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To: Gary Korn who wrote (1365)2/21/1998 2:51:00 AM
From: nghi vu
   of 12603
 
gary, thanks for all the updates. About Bell atlantic, if you haven't listen to the conference call yesterday, you should so as any investors with interest. The CEO did not mention Bell atlantic by name but did mention a few times that the company is negotiating a major contract at the same moment with a co in NY city. All I know is Bell atlantic home office is in NY city. Can anyone name another major Telco in NY city?

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To: Gary Korn who wrote (1365)2/21/1998 2:53:00 AM
From: nghi vu
   of 12603
 
as far anyone knowing about the potential with Bell atlantic today. Well they might if they listen to the conference like I did but Wall street sold first and ask later on a panic firesale as usual

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To: Glenn D. Rudolph who wrote (1286)2/21/1998 8:50:00 AM
From: Elmer
   of 12603
 
Glenn,
How long do you think it will take for the dust to settle on this one? I would expect a round of downgrades from the brokerage community, then a digestion period and then a great buying opportunity. What do you think?
Regards
David

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To: nghi vu who wrote (1366)2/21/1998 8:59:00 AM
From: Richard H.
   of 12603
 
Do you know the conference call playback number and code?

Thanks! Rich

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To: nghi vu who wrote (1366)2/21/1998 9:26:00 AM
From: Gary Korn
   of 12603
 
if you haven't listen to the conference call yesterday, you should so as any investors with interest. The CEO did not mention Bell atlantic by name but did mention a few times that the company
is negotiating a major contract at the same moment with a co in NY city. All I know is Bell atlantic home office is in NY city.


nghi,

Do you (or anyone) have a number and code for the conference call replay? If so, could you please post it.

Thank you in advance,

Gary Korn

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