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BUYOUT PLAY
http://finance.yahoo.com/q?s=cien
http://finance.yahoo.com/q/sec?s=CIEN
http://finance.yahoo.com/q/ks?s=CIEN
http://www.ciena.com/

Is Ciena For Sale? It Should Be
Stocks: (CIEN)(AMD)(CSCO)(JDSU)(ALA)(NT)

Tuesday, July 25, 2006

With private equity firms paying $55 billion for HCA and AMD buying ATI Technologies for $5.4 billion, investors have to ask what the next traunch of buy-out candidates may be.

Ciena is in a tough position. Most of its competitors are more than ten times its size.

The company has a good business, making broadband networks and fiber optics deployments more efficient. The market for this set of products should be very good as telcos roll out their new systems to bring more services like TV to the home.

The stock has fans on Wall Street. Morgan Keegan just upgraded it from "underperform" to "market perform". Not really much of an endorsement.

Ciena is a survivor. And, that may be all its is. First quarter revenue was $120.4 million, up only 2% from the immediately previous quarter. Margins improved, but the company cannot cut costs forever.

Upgrading telco fiber systems with Ethernet switches may be a key component of the new world of a super-fast internet, but comanies like JDS Uniphase, Alcatel, Nortel, and Cisco play in the same sandbox. Ciena's revenue is less than $500 million. Even Nortel brings in $10 billion

According to Morningstar, Ciena's price to book value is 2.8 in and industry were the average is 4.3. It technology and customer list would be very, very valuable to one of its larger rivals. And, the company's market cap is only $2 billion, about four times sales.

Ciena will have trouble competing long-term, but it could make a valuable prize for one of the industries big wheels. Some investment banker is probably pitching the idea right now.

Douglas A. McIntyre can be reached at douglasamcintyre@gmail.com. He does not own securities in companies he writes about.

http://247wallst.blogspot.com/2006/07/is-ciena-for-sale-it-should-be.html
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#145   Correction coming from the $23.70 high yesterday on runningwithscissors 09/02/16 08:58:52 AM
#144   This is a terrible company and stock. RobertG 03/15/16 05:49:50 PM
#143   I'm in, we should see a nice bounce Monday T695 03/04/16 06:55:28 PM
#142   $CIEN Ciena: The Risk/Reward Profile Is Attractive, Says maytepper 12/12/14 06:30:12 PM
#141   Ciena higher on vague M&A rumors chmcnfunds 08/14/14 12:57:58 PM
#140   Big Call Buyer Pings Ciena Corporation (CIEN) chmcnfunds 08/13/14 02:11:30 PM
#139   Why A Short Covering Rally Might Come for chmcnfunds 05/19/14 12:33:50 PM
#138   stockcharts.com/c-sc/sc?s=CIEN&p=D&yr=0&mn=3&dy=0&i=p65628407010&a=27161266 chmcnfunds 05/12/14 02:43:11 PM
#137   Ciena Given Average Recommendation of “Buy” by Brokerages chmcnfunds 04/14/14 12:09:46 PM
#136   MARCH 13, 2014 chmcnfunds 03/13/14 02:25:24 PM
#135   CIEN: chmcnfunds 12/24/13 11:48:31 AM
#134   Still a lot of room above; all indicators chmcnfunds 12/20/13 10:24:58 AM
#133   Cramer enters Ciena today: chmcnfunds 12/19/13 12:23:20 PM
#132   Ciena marching back up after over-reaction to their earnings: chmcnfunds 12/19/13 10:39:05 AM
#131   Why Cisco Systems, Inc. (CSCO) Isn’t Pointing the chmcnfunds 12/17/13 12:12:43 PM
#130   After 5 rating changes the past two days chmcnfunds 12/13/13 12:05:48 PM
#129   Ciena (CIEN_) was upgraded to outperform from market chmcnfunds 12/13/13 09:39:21 AM
#128   Ciena Isn't Done Yet chmcnfunds 12/12/13 04:15:29 PM
#127   Ciena Management Discusses Q4 2013 Results - Earnings chmcnfunds 12/12/13 12:13:24 PM
#126   Ciena loss shrinks but adjusted earnings miss view chmcnfunds 12/12/13 08:30:50 AM
#125   Ciena dives more than 10% after earnings miss chmcnfunds 12/12/13 08:13:22 AM
#124   Buy Ciena Ahead Of Quarterly Earnings chmcnfunds 12/09/13 12:39:57 PM
#123   Cramer's Mad Money - 8 Earnings To Watch chmcnfunds 12/09/13 09:03:56 AM
#122   Ciena, Alliance Fiber up in response to Finisar's chmcnfunds 12/06/13 08:45:32 AM
#121   Ciena Names Two New Customers chmcnfunds 12/05/13 04:10:23 PM
#120   Reliance Globalcom Upgrades Trans-Atlantic Submarine Network with Ciena's GeoMe chmcnfunds 12/05/13 09:05:08 AM
#119   Seeking Alpha via dynect-mailer.net chmcnfunds 12/04/13 03:17:48 PM
#118   Seeking Alpha via dynect-mailer.net chmcnfunds 12/04/13 03:17:47 PM
#117   Found the news, this morning FBR rates as chmcnfunds 12/04/13 01:44:13 PM
#116   Up nicely (approx. 5%) today with seemingly no chmcnfunds 12/04/13 11:15:52 AM
#115   CIENA BUY Last Pattern:BULLISH HARAMI chmcnfunds 11/27/13 08:31:46 AM
#114   CIEN looking good from a technical pointof view.numerous chmcnfunds 11/26/13 02:32:58 PM
#113   Ciena, Infinera See Boost in Q3 North America chmcnfunds 11/20/13 02:00:41 PM
#112   Huawei, Ciena, and Alcatel-Lucent lead Q3 WDM market chmcnfunds 11/19/13 04:10:46 PM
#111   Nice AH boost courtesy of CSCO's good quarterly. chmcnfunds 05/15/13 06:16:51 PM
#110   Evercore launches coverage on Ciena (CIEN +2.1%) with chmcnfunds 05/15/13 11:47:17 AM
#109   New Products from Ciena Enable Operators to Packetize chmcnfunds 05/14/13 09:04:49 AM
#108   Ciena Corporation : Ciena to Showcase Packet Networking chmcnfunds 05/13/13 01:50:09 PM
#107   Ciena Coverage Initiated at Cowen Securities (CIEN) chmcnfunds 05/07/13 02:37:10 PM
#106   Dow Jones reports started as OUTPERFORM by Cowen. chmcnfunds 05/07/13 09:27:05 AM
#105   5 Names Seeing Bullish Options Flow chmcnfunds 05/03/13 08:37:35 AM
#104   Mass Broadband Institute Deploys First Segment of State chmcnfunds 05/01/13 09:19:30 AM
#103   Tea Leaves Point to Strength at CIENA (CIEN) chmcnfunds 04/29/13 01:22:36 PM
#102   Tuesday, April 23, 7:56 PM Telecom equipment and chmcnfunds 04/24/13 10:41:26 AM
#101   Ciena Corporation : More Than One-Third of European chmcnfunds 04/17/13 11:38:07 AM
#100   Ciena Corp: (NASD: CIEN) chmcnfunds 04/17/13 10:01:57 AM
#99   Ciena (CIEN) Posts Surprise 1Q Profit As Revenue chmcnfunds 03/07/13 07:53:01 AM
#98   Ciena Reports Fiscal First Quarter 2013 Financial Results chmcnfunds 03/07/13 07:15:10 AM
#97   4 Technology Stocks With Bullish Short Trends chmcnfunds 03/01/13 11:27:38 AM
#96   CIEN – Ciena Corp. – Bullish options on chmcnfunds 01/31/13 02:28:06 PM
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