Ciena (CIEN +1.9%) is catching a bid following vague M&A chatter. The gains come even though Cisco just reported an 11% Y/Y drop in service provider orders for the July quarter, and stated it expects carrier demand to remain soft for several quarters.
Ciena fell yesterday in response to JDS Uniphase's weak guidance and cautious CC commentary. Its FQ3 report is due on Sep. 4.
A slew of telecom hardware and software firms are higher following Oracle's deal to acquire Acme Packet (I, II). The big winners include VoIP/unified communications software providers BroadSoft (BSFT +7.7%) and AudioCodes (AUDC +4.2%), and volatile deep packet inspection hardware plays Allot (ALLT +4.6%) and Procera (PKT +5.9%). Juniper (JNPR +1.4%), F5 (FFIV +1.2%), and Ciena (CIEN +1.6%) are also higher - Juniper is the frequent subject of M&A speculation, but its $11.7B market cap poses a challenge. (Sonus and Riverbed)