Ciena (CIEN -5.2%) slumps ahead of tomorrow morning's FQ2 report, even though Needham is...


Ciena (CIEN -5.2%) slumps ahead of tomorrow morning's FQ2 report, even though Needham is starting coverage with a Buy and $16 PT. The firm notes Ciena has an 85% share of the nascent market for 100G optical transmission gear, and touts the company's order pipeline and improving margins. Nomura is more cautious: the firm is slashing its estimates due to the optical networking industry's capex issues, but expects a 2H demand pickup.

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